Gungnir Resources Inc. (TSX-V:GUG, OTC:ASWRF) has announced that drilling will begin this week at its Lappvattnet high-grade nickel project in Sweden.
The mineral exploration company said drilling will continue to focus on upgrading and potentially expanding the Lappvattnet nickel deposit, specifically targeting: the eastern, shallow down-plunge extension of the main nickel zone; additional, thickened high-grade nickel shoots within the eastern half of the existing inferred resource; and grade and continuity of the newly-discovered footwall zone.
“Drilling at Lappvattnet continues to deliver high-grade nickel sulphides with possibly some of the highest-grade nickel drill intersections recorded in Sweden,” Gungnir Resources CEO Jari Paakki said in a statement.
“We had an 80% hit-rate with our drilling in 2021 and 2022 which returned numerous, impressive near-surface nickel intersections including 12 holes with individual assays greater than 5% nickel with a peak assay of 7.38% nickel,” Paakki added.
Gungnir noted the current two-year drill permit at Lappvattnet is valid to the end of this year with further drilling possible with a new work plan submission.
The company added that the total amount of drill metres in 2023 will be based on continuing positive results and access to planned drill sites.
In 2022, 30 holes were drilled for a total of 4,240 metres (m) and 15 holes for 1,300m in 2021, Gungnir said.
Gungnir Resources is a Canada-based, TSX-V-listed mineral exploration company with gold and base metal projects in northern Sweden.
Contact Sean at sean@proactiveinvestors.com