Gunson Resources (ASX:GUN) has received a notice of initial...

Gunson Resources (ASX:GUN) has received a notice of initial substantial shareholding from Westoria Resource Investments Ltd with a 5.79% stake.

Westoria had received the 35,124,628 shares as a result of Gunson’s all-scrip takeover of Strandline Resources.

The company is carrying out reconnaissance and auger drilling across its highly ranked mineral sands targets in Tanzania.

This follows the recent completion of its $2.5 million all-scrip acquisition of Strandline Resources, which held the tenements covering over 2,000 square kilometres along the Tanzanian coast.
   
These are located in the same geological setting as world class operating mineral sands projects in Kenya, Mozambique and Madagascar.

The 6 week program will be followed by an intensive 6‐12 month campaign (including high‐impact drilling) on priority targets, with a view to delineating at least one significant resource area near key infrastructure.

In the September quarter, Gunson completed a private placement of 146.67 million shares at $0.015 each to raise $2.2 million.

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