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Gunson Resources substantial shareholder acquires additional shares

Gunson Resources (ASX: GUN) substantial shareholder John Tilbrook acquired 2,737,059 shares between 10th November 2010 and 8th August 2011 at $0.195 per share.

The purchase was made for a consideration of $536,301 and Tilbrook now holds a 6.7% stake in the company.

Gunson announced yesterday that it has completed the first hole of the 2011 drilling program testing for high grade copper-gold at its 49%-owned Mount Gunson project, located in the Australian Olympic Copper-Gold Province.

The Olympic belt is over 500 kilometres long and contains about 75% of the known copper resources in Australia. The project straddles about 10% of the belt as four contiguous exploration licences covering about 1,320 square kilometres.

Drilling at the Emmie Bluff Prospect is being funded by Xstrata Copper  subsidiary Noranda Pacific Pty Limited.