Gungnir Resources poised to begin 2,500 metres of drilling at its Swedish projects

Gungnir Resources Inc (CVE:GUG) (OTCPINK:ASWRF) (FRA:AMO1) told investors that around 2,500 metres (m) of diamond drilling is due to kick off at its Swedish assets in the week beginning May 24. 

The work will initially focus on the Knaften property and the Knaften 300 Gold Zone (Knaften 300), where drill results have included shallow intersections of high-grade gold including 59.6 grams per ton (g/t) of the yellow metal in one hole and numerous wide zones of gold mineralization. 

READ: Gungnir Resources outlines this year’s exploration plans at Swedish assets

In addition, up to 50 line-kilometres of Induced Polarization (IP) geophysics is planned this summer to outline potential new targets on the recently acquired Knaften nr 600 permit, which expanded the company’s Knaften property by over 75%.

After drilling at Knaften, around 1,250m of drilling is earmarked for the nearby nickel-copper-cobalt-PGE (platinum, palladium and gold) projects – Lappvattnet and Rormyrberget.

Drilling here is planned to test for grade and distribution of PGEs and deposit extensions.

At Knaften, Gungnir is targeting the bedrock source or sources of a large gold-in-till anomaly, one of the largest in Sweden. Previous drill assays have included 14.07 g/t gold over 4.25m in one hole.

Meanwhile, the Lappvattnet and Rormyrberget nickel deposits collectively contain a newly expanded NI43-101 resource, which outlined 177 million pounds of nickel in the inferred category.

The company is currently awaiting a decision on approving extension applications for existing licenses covering both deposits and is also awaiting terrain driving permits.

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Story by ProactiveInvestors