Gunnison Copper (TSX:GCU) has completed an airborne survey across portions of the Cochise Mining District land package in Arizona, with the aim of advancing high-priority exploration target generation.
Data processing is now underway, with initial results expected in the near term.
Gunnison Copper intends to integrate the data with its existing geological and geophysical datasets to identify and prioritise high-potential drill targets across the district. The program is anticipated to support the generation of new exploration opportunities and support potential resource expansion across the broader Cochise Mining District.
The survey used Lunasonde’s proprietary airborne georadiotomography technology to generate high-resolution subsurface imaging aimed at identifying potential copper-bearing structures with the intent to generate targets.
Lunasonde is a defence and mineral exploration technology start-up dedicated to revolutioning subsurface sensing using its novel radar system capable of discerning underground features from aerial and space platforms.
Further, Gunnison Copper has entered into a buyback option agreement with Altius Royalty Corporation and Triple Flag entities. The agreement provides the company with the right to reduce certain existing royalties and terminate an expansion-related stream option at its namesake project in Arizona.
Under the agreement, Gunnison is granted the option to reduce the 3% Triple Flag gross revenue royalty to 2%, as well as reduce the Altius gross revenue royalty by 0.5%.
Gunnison also has the right to terminate Triple Flag’s expansion option.
Both parties intend that the foregoing options be exercisable only as a single, indivisible package and only in connection with a qualifying change of control transaction announced on or before 31 March 2028. The total consideration payable upon exercise is US$65 million ($89.78 million).
Gunnison Copper is a multi-asset, pure-play copper developer and producer that controls the Cochise Mining District. The district contains 12 known deposits within an 8km economic radius in the southern Arizona copper belt.
Write to Aaliyah Rogan at Mining.com.au
Images: Gunnison Copper
