Gungnir Resources outlines significant IP anomaly at Knaften in Sweden

Gungnir Resources Inc (CVE:GUG) (OTCPINK:ASWRF) (FRA:AMO1) announces the discovery of an extensive induced polarization (IP) anomaly at its Knaften gold project in Sweden. 

The mining exploration company said it is now considering additional IP coverage and plans to incorporate new targets into its future exploration work plans, inclusive of drilling. 

READ: Gungnir Resources kicks off geophysics program with an induced polarization survey at the Knaften gold property

Gungnir said the new IP anomaly of up to 30 millivolts per volt ( mV/V) measures about 1,200 metres (m) by at least 700m and is open to the north and south.

It is located in an unexplored area within the southern half of a 4 x 5 kilometres (km) quartz diorite intrusion, entirely held by Gungnir, and about 3km southeast of the company’s disseminated-style Knaften 300 Gold Zone.

Knaften 300 includes shallow intersections of high-grade gold including 59.6 grams per ton (g/t) gold over 1m in hole KN19-06 and numerous wide zones of gold mineralization including 2.92 g/t gold over 13m in hole 200707. Previous surveys in the Knaften 300 area have produced comparable IP responses.

“The preliminary results from our IP survey are very encouraging, given that the new anomaly is situated within the same quartz diorite intrusion that hosts the Knaften 300 Gold Zone,” CEO Jari Paakki said in a statement.

“The size of this new IP anomaly indicates the potential for a larger area of mineralization on the new license, Knaften nr 600, which we just acquired in January of this year.”

Gungnir said the survey also identified two additional IP anomalies worth merit located southwest and north of the large anomaly.

The company is currently drilling at Knaften 300 after which drilling is scheduled at its Lappvattnet nickel-copper-cobalt-PGE (platinum, palladium and gold) project where drill collar locations have been finalized.

Knaften lies at the south end of the so-called Knaften-Barsele Arc (Gold Line), which hosts a number of gold deposits, including Agnico Eagle’s Barsele Gold-VMS project. The asset hosts high-grade gold, VMS (zinc-copper) and copper-nickel targets, all open for expansion.

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Story by ProactiveInvestors