Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF) announced that it has entered into a collaboration framework agreement with Lunasonde to test the use of advanced airborne remote sensing technology across part of its mineral property portfolio in southern Arizona.
The agreement will see Lunasonde deploy its proprietary Airborne Georadiotomography (aGRT) technology to conduct an initial high-resolution subsurface survey over a defined portion of Gunnison’s landholdings in the Cochise Mining District.
The work program is expected to include test and calibration flights, followed by data processing and analysis aimed at producing three-dimensional subsurface images of anomalies that could host critical minerals.
Gunnison said the collaboration is intended to assess whether Lunasonde’s technology could be used as a complementary exploration and targeting tool across its broader land position, which contains several known copper deposits located near existing infrastructure and operations.
The survey results will be reviewed alongside the company’s existing geological and geophysical data to evaluate potential future applications.
Lunasonde’s technology is designed to identify subsurface features from airborne and space-based platforms, offering a non-invasive method of data collection that may supplement traditional exploration techniques, Gunnison said.
"This collaboration reflects Gunnison's disciplined approach to innovation and data-driven decision-making," Gunnison Copper CEO Stephen Twyerould said in a statement.
"We are continuously evaluating advanced technologies that have the potential to enhance our geological understanding, improve targeting efficiency, and support long-term value creation across the Cochise Mining District."
Additionally, the company announced it has received a third conversion notice from Nebari Natural Resources Credit Fund I LP under its Second Amended and Restated Credit Agreement. The conversion reduces the principal outstanding under the facility.
The third conversion totals US$500,000 at a conversion price of US$0.2097 per share, equivalent to C$0.30, resulting in the issuance of 2,384,358 common shares. Gunnison said Nebari has indicated the conversion is for the purpose of sale and that it may elect to convert additional amounts.
Gunnison added that, with full conversion of the remaining convertible principal and the planned use of proceeds from the sale of previously announced US 48C tax credits, the Second Amended and Restated Credit Agreement could be repaid in full.