GUN Gunsynd Plc

Gunsynd Plc

("Gunsynd" or the "Company")

High grade results and new targets at Bear Twit

Gunsynd (AIM: GUN), an investing company, is pleased to provide an update in relation to the Bear-Twit VMS project in Canada (the "Project"). Ongoing digitisation and interrogation of historic data for the Project has revealed widespread, untested soil anomalism and further, high grade, drill-tested occurrences with outstanding zinc grades.

HIGHLIGHTS

·    Historic data integration has revealed further, drill-confirmed mineralisation at the Project:

o  The REV showing location, only 10 km northeast of the Bear-Twit deposit returns substantial, high-grade zinc from surface sampling and minor drill testing

o  Drillhole RM-1 returned 21.34m @ 9.27% Zn from 1.52m depth including 12.19m @ 15.23% Zn from 4.57m depth. RM-1 ended in 0.23% Zn illustrating the mineralisation remains open and untested to depth

o  Surface bulk sampling return zinc grades of 11.60%, 10.04%, 6.04% from 6 x 9 m panels across the REV showing

o  Copper-antimony, never assayed for despite note of tetrahedrite, offering upside for additional metals in modern exploration

·    Further surface mineralisation returned up to 8.44% Zn from historic bulk sampling efforts at the following locations: Waterfall, Big Cirque and Esau's Fault showings, attesting to a fertile environment and scope for further discoveries within the Project

·    Numerous unexplained historic soil geochemistry anomalies offer exploration potential for further discoveries and deposit extensions of high-grade Cu-Pb-Zn mineralisation

o  Anomalies downslope of the known Bear-Twit Deposit (the "BT deposit") verify the method with further zones unexplained by current mineral occurrences

ADDITIONAL TARGETS

North of the Bear-Twit Deposit, several showings were investigated in 1975-1976 on multiple sides of a peak spanning over 3 km east-west. The showings saw surface channel sampling, bulk sampling and very limited confirmatory drilling. Underexplored mineralisation showings are depicted in Figure 1.

REV

In addition to the BT deposit hosting the historic estimate, the REV target (discovered in 1975) saw a very limited sampling and drill confirmation program. Details of the REV work completed were extracted and digitised from NUMIN Open File 080488. Located just 10 km NE of the BT deposit the REV showing target hosts high grade, zinc dominated mineralisation in a structurally controlled breccia body cropping out at surface. The showing is exposed over an area more than 91 m horizontal by 137 m vertical thickness. Mineralisation is fault and fracture controlled alongside the porosity of chemistry of individual sedimentary beds. Veining, disseminations to massive sulphides, replacement of fossils and breccia/crackle zone cements are observed with sphalerite and galena as the main sulphides with lesser pyrite and note of tetrahedrite (a copper-antimony sulphosalt) although no copper or antimony assays were completed.

6 x 9 m panels with continuous chip samples to form bulk samples of 50 lbs returned highlights of:

·    Panel 3 - 10.04% Zn

·    Panel 4 - 5.65% Zn

·    Panel 7 - 2.00% Zn

·    Panel 8 - 11.60% Zn

·    Panel 16 - 6.04% Zn

·    A combined average from 20 panels for 2.88% combined Pb and Zn

Drilling adjacent to the surface showing returned 21.34m @ 9.27% Zn from 1.52m depth including 12.19m @ 15.23% Zn from 4.57m depth (Drillhole RM-1) ending in 0.23% Zn indicating the zone is open to depth.

WATERFALL

The Waterfall showing represents an underexplored breccia zone, which is up to 20 ft wide on surface, trending northwest through the dolomite host rocks. Sphalerite and galena are observed as disseminations, infilling vugs and forming veins along a brecciated/crackle zone exposed in a stream cut associated with a fault. A brief historic channel sampling program returned assays as high as 7.40% Zn with 3.26% Pb with the unweighted average of all samples at 2.77% Zn and 0.71% Pb. Panel sampling, consisting of 50lb bulk samples returned 3.28% Zn and 0.16% Pb (sample C1) and 8.44% Zn and 0.14% Pb (sample C2).

BIG CIRQUE

The Big Cirque showing is located on the north facing wall of a large cirque cutting through the mountain that is also host to the Waterfall and REV showings. Mineralisation can be traced in outcrop and float for several thousand feet along strike to the northwest from a major fault/ Mineralisation consists of crackle breccia zones, veins and disseminations of dolomite. Panel samples consisting of 6 x 9 m composite samples of 50 lbs returned highlights of:

·    Panel 6 - 5.88% Zn and 1.12% Pb

·    Panel 2 - 2.40% Zn and 0.05% Pb

·    Panel 5 - 1.44% Zn and 2.84% Pb

ESAU'S FAULT

Located on the eastern flanks of the mountain which hosts the REV, Waterfall and Big Cirque showing the Esau's Fault showing represents another zone of zinc mineralisation on surface. Mineralisation is lower grade, with 1975 bulk sampling averaging 0.65% Zn, however, occurs with similar styles to that of the REV showing. Sphalerite and galena are associated with tetrahedrite (copper or antimony not assayed for) with lesser pyrite. Sulphides are vein hosted with minor crackle breccia zones. Although lower grade the Esau's Fault showing is further proof of zinc fertility within the broader Bear-Twit Project.

BEAR-TWIT DEPOSIT - EXPLORATION UPSIDE

In 1973 a detailed soil geochemistry program was conducted in the immediate vicinity of the Bear-Twit Pb-Zn deposit prior to the historic drilling efforts. A total of 900 samples were taken and analysed for copper, lead, zinc and silver. Samples were taken of the B horizon every 200 ft along 400 ft spaced survey lines. The zones presented in Figure 2 depict where the assay values surpassed the median + 2 standard deviations, defining an anomaly. Anomalies were where values surpassed 26 ppm for Cu, 73 ppm for Pb and 475 ppm for Zn.

A clear anomaly of Cu-Pb-Zn is observed overlapping and immediately downslope of the known BT deposit. The topography in the survey area is steep and thus anomalies defined by the sediment sampling program will require a degree of relocation upslope. Further anomalies are presented in the data, which have not received follow up ground truthing. Of note is the anomaly directly upslope of the known deposit, indicating a possible extension to the drill tested mineralisation at Bear-Twit. Across the river to the southeast there are further anomalies, which present wider zones of copper anomalism and combined Pb-Zn. These areas require ground truthing and will feed into the target pipeline for field activities. Given their position in a separate topographic feature and thus sediment catchment, these anomalies must represent further mineral occurrences.

FURTHER WORK

·    Ongoing integration and digitisation of historic data

·    Planning of 2025 exploration program to include:

o  Confirmatory rock chip/channel sampling at the Bear-Twit Deposit and northern showings,

o  Detailed geological and structural mapping to locate the high grade "feeder zones" of surface mineralisation,

o  Prospecting work across the numerous unexplained Cu-Pb-Zn soil anomalies, especially upslope to the northwest and across the river to the southeast of the known Bear-Twit deposit, and

o  Assessment of ground geophysical techniques, namely ground gravimetry to assist in drillhole targeting.

Figure 2. Map of the 1973 soil geochemistry results. Contours of above threshold Cu (>26 ppm), Pb (>73 ppm) and Zn (>475 ppm).

Qualified Person Statement

The technical information contained in this disclosure has been read and approved by Eric Sondergaard, (P.Geo) who is a Professional Member of the Association of Professional Engineers and Geoscientists of Alberta. Mr. Sondergaard has sufficient experience, relevant to the styles of mineralisation and type of deposits under consideration, to qualify as a Qualified Person as defined by the AIM Note for Mining, Oil and Gas Companies.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events.  Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

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