Gunsynd PLC (GUN ) has completed the acquisition of the Lotus 1, Lotus 2 and Brook mineral claims, which host historic shafts, and the Denver claim, which hosts a historic gold showing, all located within the company's 100%-owned Barb gold project in Manitoba.
The newly acquired claims are contiguous with the existing Barb gold project and consolidate highly prospective ground within a structurally complex portion of the Archean Rice Lake Greenstone Belt.
The consideration paid by Gunsynd amounts to £135,000 and just under 12 million shares.
The addition of these claims strengthens the company's land position across key structural trends and provides multiple high-priority targets for follow-up exploration, including the historically mapped Lotus, North, Cross, Ling and Wasp quartz veins.
The historic workings, combined with geophysical responses and surface geochemical results from the broader property, suggest potential for structurally controlled gold mineralisation typical of the Rice Lake Greenstone Belt.
Recent, high-resolution airborne magnetic survey data indicates that the Lotus and Denver showings coincide with interpreted structural corridors considered favourable for gold mineralisation. These structural features are interpreted as shear zones and lithological contacts that may have acted as conduits for mineralising fluids.
Previous sampling from these new areas has returned decent grades and visible gold.
To advance drill target generation, Gunsynd plans to conduct an induced polarisation survey across priority areas encompassing the Lotus and Denver claims, as well as selected targets on the existing Barb gold project.
The IP survey is intended to identify chargeability and resistivity anomalies associated with sulphide-bearing structures within quartz-carbonate vein systems, and to refine diamond drill hole targeting.
In parallel, the company has initiated discussions with the local First Nation community regarding planned exploration activities and looks forward to building a positive and collaborative relationship.
“The acquisition of the Lotus, Betty, and Denver claims adds important historic gold occurrences within a highly prospective structural setting,” said Hamish Harris, executive chairman of Gunsynd.
"When combined with our recent geophysical results, these targets further enhance the drill potential of the Barb project. The shear zone running through the claims not only provides us with confidence moving forward but also emphasises why we are so pleased to have been able to acquire these recent claims, not least Lotus 1 and 2, which sit right on top of the structural corridor."
View from Vox
Good to be picking up new ground in this time of high gold prices, albeit that there has been a pullback in the past week or so. It will be fascinating to see what kind of results Gunsynd can come up with from Barb once the drill bit starts turning.