Sunshine Minerals Update

RNS Number : 5763B

Gunsynd PLC

04 April 2017

 

Gunsynd plc ("Gunsynd" or the "Company")

Sunshine Minerals Update

Gunsynd Plc (AIM: GUN, NEX: GUN) is pleased to announce an update in respect of Sunshine Minerals Ltd ("Sunshine"), a company in which it holds a 10% interest. Sunshine has now received a land user agreement for its Tausere bauxite deposit licence. The Tausere bauxite deposit is a non resource defined early stage exploration asset over a 510km² tenement area with 3 target areas. Historical assay results show average bauxite geochemistry of 42% and a possible total inferred resource (resource for which there is insufficient data to confirm its continuity) in the prospecting licence area of 288,228,000 tons.

Hamish Harris, the Company's Executive Chairman, commented:

"We are very pleased that Sunshine has been able to obtain a land user agreement that was required in conjunction with the prospecting licence it has already acquired.  Sunshine is now in a position to commence validating the resource. We also expect to hear back shortly with respect to the Jejevo licence for which a land user agreement is already in place"

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

The directors of Gunsynd accept responsibility for this announcement.

For further information please contact:

Gunsynd plc

[phone]

Hamish Harris

Nominated Adviser/NEX Exchange Corporate Adviser

[phone]

Cairn Financial Advisers LLP

James Caithie / Liam Murray

Peterhouse Corporate Finance (Joint Broker)

[phone]

Lucy Williams

 

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