Gungnir Resources Inc. (TSX-V:GUG, OTC:ASWRF) said exploration activities at its two key properties in northern Sweden, Lappvattnet and Hemberget, are continuing.
At the Lappvattnet high-grade nickel project, drilling continues to focus on upgrading and potentially expanding the deposit. Present drill holes are targeting the eastern half of the deposit and areas below the current resource, it said.
So far in 2023, 1,115 metres (m) in five holes have been drilled and 122 samples have been tagged for assay. Highlight drill results from 2022 include 9.0m at 2.35% nickel (Ni) including 5.66m at 3.02% Ni and 18.28m at 1.49% Ni including 5.76m 4.04% Ni.
At the Hemberget project, the company is targeting potential copper-nickel sulphide mineralization associated with an 11 kilometre-long, layered mafic-ultramafic intrusion, the company said, adding that new conductors were identified in the western part of the property from a partially completed ground electromagnetic geophysical survey.
The company’s regional prospecting confirms outcropping and boulders of mafic intrusive rocks as well as a wide, sulphide-bearing unit that could provide ideal conditions to precipitate copper/nickel.
Copper/nickel mineralization was discovered in a much smaller gabbro intrusion on the nearby Knaften project and drill permits are being finalized, the company added.
Gungnir's nickel resources in Sweden currently total 177 million pounds of nickel. At Lappvattnet, the inferred resource is of 780,000 tonnes grading 1.35% nickel for 23.1 million lbs of nickel while at Rormyrberget, the inferred resource is of 36,800,000 tonnes grading 0.19% nickel for 154 million lbs of nickel.
Gungnir Resources is a mineral exploration company with gold and base metal projects in northern Sweden.
Contact the author at jon.hopkins@proactiveinvestors.com