Gunsynd (GUN ) has now transitioned from an investment to an operating company with a primary focus on gold assets in Canada.
The company has disposed of its holding of Low 6 for £50,000 in cash, but retains a 10% stake in Eagle Lake, a project being worked up by Talon Resources.
The latest news from Eagle Lake has been very promising, with respect to preliminary assay results from the maiden drill programme.
Talon has intersected high-grade gold mineralisation at multiple targets from the initial batch of assay results.
The stand-out intercept came in EG-26-07 at Cedar Trench, which returned 21.25 metres grading 2.19 grams per tonne.
EG-26-06 returned 33.35 metres at 0.61 grams per tonne, while EG-26-03 at East Fornieri Bay intersected five intervals of gold mineralisation
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As an operating company Gunsynd is likely to have more room for manoeuvre from a regulatory point of view as it moves ahead with exploration work on its suite of Ontario assets. Those look highly prospective, and work already done has returned very encouraging results. Meanwhile, though, the one major investment that Gunsynd does retain, at Eagle Lake, is also delivering strong results, and looks likely to live up to its potential.