Gunsynd PLC (LSE:GUN) has reported preliminary gold assay results from the maiden drilling programme at the Eagle Lake Gold Project in Ontario, Canada, following an operational update from Talon Resources Plc.
The results identified gold mineralisation across multiple exploration targets, including higher-grade intersections at Cedar Trench. Gunsynd also confirmed the completion of its £50,000 disposal of its investment in Low 6 as the company shifts its primary focus towards Canadian gold assets.
Eagle Lake Drilling Returns 21.25 Metres at 2.19 g/t Gold
Initial assay results from the Cedar Trench prospect included an intersection of 21.25 metres grading 2.19 grams per tonne gold from a depth of 64 metres in drill hole EG-26-07.
Within this interval, drilling identified 8.75 metres at 5.05 g/t gold, including 0.93 metres at 15.10 g/t gold and 1.25 metres at 17.08 g/t gold.
The same hole also returned 11.57 metres at 0.85 g/t gold from 48.50 metres, including 0.60 metres at 4.67 g/t gold.
A second Cedar Trench hole, EG-26-06, intersected 33.35 metres grading 0.61 g/t gold from 30.15 metres, including 4.55 metres at 1.83 g/t gold.
Cedar Trench was previously identified as the highest-ranked exploration target by MINML’s PRISM machine-learning platform, which was used to support target selection at Eagle Lake.
Gold Mineralisation Identified at East Fornieri Bay
Drilling at the East Fornieri Bay prospect also returned several gold-bearing intervals.
Hole EG-26-03 identified five intervals of mineralisation, including 0.50 metres grading 6.86 g/t gold from 19.50 metres and 2.99 metres at 0.70 g/t gold from 94 metres.
All assay results for this hole have been received.
Meanwhile, hole EG-26-01 intersected 5.80 metres at 0.54 g/t gold from 33.50 metres, including 1.10 metres at 1.68 g/t gold and 0.80 metres at 1.33 g/t gold.
The results indicate gold mineralisation at both Cedar Trench and East Fornieri Bay, although the drilling programme remains at an early stage.
Further Assay Results Awaited from Maiden Drilling Programme
Talon Resources confirmed that additional samples from the Eagle Lake drilling programme are still being processed by the laboratory.
As of 26 October 2026, assay results remained incomplete for several drill holes, including EG-26-06 and EG-26-07 at Cedar Trench.
The company expects the outstanding results to provide further geological information and assist with interpreting the mineralised zones.
The reported intersections represent drill core lengths rather than confirmed true widths, which remain unknown.
The additional assay data will also contribute to future exploration targeting and the assessment of potential extensions to the mineralisation.
Gunsynd Completes Low 6 Investment Disposal for £50,000
Separately, Gunsynd confirmed that it has sold its holding in Low 6 for £50,000 in cash, with the proceeds received in full.
The disposal follows the company’s announcement on 12 October 2026 and a general meeting held on 28 October.
Gunsynd said it has transitioned to an operating company, with its principal business focus now directed towards gold assets in Canada.
The Low 6 disposal forms part of that change in business direction, while the preliminary Eagle Lake drilling results provide additional exploration data for the company’s Canadian gold interests.
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