Gunnison, Lunasonde enter LOI for remote sensing tech

Executive Summary

• Gunnison Copper Corp. entered a non‑binding Letter of Intent with defence‑technology start‑up Lunasonde Inc. to test airborne subsurface imaging technology on its Cochise mining district assets in southeastern Arizona.
• The collaboration aims to accelerate identification of new copper, critical minerals and rare earth element targets that lie beneath thick alluvial cover.
• Both parties intend to seek U.S. Department of Energy “ROCKS” program financing for the venture, subject to definitive agreements and DOE approval.

Key Details

• Letter of Intent (LOI): Non‑binding agreement granting Lunasonde access to Gunnison’s district‑scale land package for technology testing and refinement.
• Technology Focus: Airborne‑based subsurface radar capable of imaging beneath alluvial cover to locate undiscovered mineralization.
• Target Minerals: Copper, other critical minerals, and rare earth elements within the Cochise mining district, which hosts at least 12 critical‑mineral deposits.
• Financing Plan: Parties will apply for DOE “ROCKS” (Reliable Ore Characterization with Keystone Sensing) program funding; execution contingent on definitive agreements, successful DOE application, and standard closing conditions.
• Company Background – Gunnison Copper Corp.:
• Controls the Cochise mining district (12 known deposits within an 8‑km radius).
• Measured & indicated resource: > 831.6 Mt at 0.31% Cu (191.3 Mt @ 0.37% Cu measured; 640.2 Mt @ 0.29% Cu indicated).
• Preliminary Economic Assessment (PEA): NPV $1.3 bn (8% discount), IRR 20.9%, payback 4.1 years.
• Development plan: open‑pit mining, heap leach, SX/EW refinery with on‑site copper cathode production and rail link.
• Company Background – Lunasonde Inc.:
• Defence and mineral‑exploration start‑up developing airborne radar for high‑resolution subsurface sensing.
• Applications include commercial resource mapping, defence, humanitarian missions, and potential extraterrestrial exploration.
• Quotes:
• “Geology like that of the Cochise mining district has been known to host at least 12 of the critical minerals… we are delighted to explore this partnership with Lunasonde whose technology has the potential to see through this cover and make new discoveries,” – Stephen Twyerould, President & CEO, Gunnison Copper Corp.
• “Our partnership presents an unparalleled opportunity to demonstrate how Lunasonde can accelerate critical mineral exploration,” – Jeremiah Pate, Founder & CTO, Lunasonde Inc.

Notable Quotes

• Stephen Twyerould (President & CEO, Gunnison Copper): “Geology like that of the Cochise mining district has been known to host at least 12 of the critical minerals so important to the U.S. supply chain… we are delighted to explore this partnership with Lunasonde whose technology has the potential to see through this cover and make new discoveries.”
• Jeremiah Pate (Founder & CTO, Lunasonde): “Our partnership presents an unparalleled opportunity to demonstrate how Lunasonde can accelerate critical mineral exploration.”