Gungnir Resources Inc has reported the highest-grade nickel intercept drilled to date at its Lappvattnet deposit in Sweden.
Hole LAP22-25 drilled 4.04% nickel over 5.76 meters (m) within a broader interval of 1.49% nickel over 18.28m, starting at a down-hole depth of 57.72m.
"Another impressive nickel intercept for Gungnir at Lappvattnet, this time the highest-grade nickel interval drilled to date,” CEO Jari Paakki said in a statement. “All of our hits are less than 100 meters below surface and cover a strike length of 400 meters in the western and central parts of the Lappvattnet deposit.”
READ: Gungnir Resources drills more near-surface nickel and identifies new footwall nickel target at Lappvattnet deposit in Sweden
Hole LAP22-25 was drilled in the central part of the Lappvattnet nickel resource, and it appears to have drilled into a thickened mineralized zone, the company said.
Notable previously nickel intersections drilled at Lappvattnet include: 3.19% nickel over 4.25m within a 10.4m interval grading 1.51% nickel; 2.62% nickel over 5.65m within a 14m interval grading 1.40% nickel; and 1.74% nickel over 10m.
Additional results are expected in January and February, the company said.
Paakki continued: “Looking ahead, our plan is to continue defining this high-grade nickel deposit, and the new footwall target, further to the east and at depth where it has been only sparsely drilled in the past."
A full breakdown of the results can be found here.
Gungnir Resources is a Canada-based, TSX-V-listed mineral exploration company with gold and base metal projects in northern Sweden.
The company’s nickel sulphide resources in Sweden include the Lappvattnet and Rormyrberget deposits, which collectively contain 177 million pounds of nickel, according to the company.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel