Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF, FRA:3XS0) said on Wednesday that technology startup Lunasonde has completed an airborne geophysical survey over the company's Cochise Mining District land package in southern Arizona, as the copper explorer advances district-scale targeting efforts ahead of potential drilling.
The survey employed Lunasonde's proprietary Airborne Georadiotomography (aGRT) technology to generate high-resolution subsurface imaging aimed at identifying copper-bearing structures.
Results from the survey are currently being analyzed, with findings anticipated shortly.
Gunnison said it plans to integrate the survey data with existing geological and geophysical datasets to identify and prioritize drill targets across the Cochise Mining District, with the work expected to support new exploration opportunities and potential resource expansion in 2026.
Lunasonde, a defense and mineral exploration technology startup, uses a novel radar system capable of discerning underground features from aerial and space platforms. The company's technology supports commercial, defense, and humanitarian applications, including resource mapping and exploration in environmentally sensitive or politically challenging areas.
In a separate development, Gunnison said it has entered into a buyback option agreement with Altius Royalty Corporation and Triple Flag entities that would allow the company to reduce certain existing royalties and terminate an expansion-related stream option at its Gunnison Copper Project in Arizona.
Under the agreement, Gunnison would have the right to reduce a 3% Triple Flag gross revenue royalty to 2%, reduce the Altius gross revenue royalty by 0.5%, and terminate Triple Flag's expansion option.
The options are exercisable only as a single, indivisible package and must be connected to a qualifying change of control transaction announced before the end of March 2028. Total consideration upon exercise is US$65 million.