www.gunson.com.au
Gunson Resources is focused on exploration for and development of mineral deposits in Australia. Since its public listing in 2000, Gunson has discovered then completed a Definitive Feasibility Study, in January 2010, on its Coburn Zircon Project in Western Australia and completed a Pre Feasibility Study, in October 2009, on its Mount Gunson Copper Project in South Australia.
A 15 month Bankable Feasibility Study on the Mount Gunson commenced at the end of 2009, with strong interest being shown by several commodity trading houses in funding this Study and the subsequent mine development.
Gunson Resources receives metallurgical drill results, progresses funding for feasibility study
Gunson Resources (ASX: GUN) has received assays for the three samples bounding the intersections listed for MGD 64 and 66 at the Mount Gunson project in South Australia.
These samples were previously selected by the metallurgical laboratory for rock mechanical testing and therefore not assayed or included in the results released on the 28th May.
The first sample, immediately above the MGD 64 intersection, was below the 0.8% copper cut-off grade, while the the other two samples, immediately above and below the previously announced MGD 66 intersection, were 1.4% and 3.0% respectively.
This widens the previous intersection of 2m @ 3% copper to 3m @ 2.4% copper, between 62.9 and 65.9m depth.
Metallurgical test work on samples from the MG14 deposit have confirmed the very low ball mill work index and abrasion index results achieved in previous test work, implying relatively low power consumption in a treatment plant.
David Harley, managing director of Gunson said he had been able to progress funding for the company’s Bankable Feasibility Study this week. In addition, the company was eligible for payment of a smelter credit for approximately 10 ounces of silver per tonne in the MG14 copper concentrate.
The smelter credit, worth approximately US$150 per tonne of concentrate, is likely to improve the previously financial returns modelled for the MG 14 deposit, which excluded any silver credit.
