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Gunson Resources to become Strandline Resources

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Gunson Resources (ASX:GUN) has changed its name to Strandline Resources, reflecting its continued growth into a diversified mineral sands company.

The company will begin trading as (ASX:STA) from Monday, 8 December 2014. ASIC and the ASX have completed the necessary registration procedures for the change of name.

Gunson has recently started auger drilling at its Tanzanian mineral sands portfolio with a focus on the Southern Projects including the Madimba tenement.

This follows the completion of mapping and pan sampling that confirmed the prospectivity of known heavy mineral sand (HMS) occurrences and potential extensions to these occurrences.

Early findings from reconnaissance and early drilling of the Southern projects will be updated over the coming weeks.

The company has a dominant mineral sands exploration position along the coast of Tanzania, within a major world class mineral sands corridor.

These projects are surrounded by some of the world’s major world-class mineral sands mines in neighbouring Kenya, Mozambique, Madagascar and South Africa.

Prospective areas held by Gunson include five projects along the coast where tenure contiguously covers 35 to 50 kilometres of coastline exposure, and cumulatively over 200 kilometres of strike.

Its wholly-owned Coburn Project in Western Australia is fully permitted and development-ready in a stable jurisdiction close to Asian export markets.

This has a global Resource of 979 million tonnes at 1.28% heavy minerals with an estimated mine life of 19 years.

 

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Quick facts: Gunson Resources

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ASX:GUN
Market: ASX
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