Gungnir Resources Inc. (TSX-V:GUG, OTC:ASWRF) announced that it has received approval from Sweden’s Inspector of Mines to extend its Knaften number 600 licence for three more years.
The company said that the 18.8-square kilometer licence covers the southern part of a gold-hosting intrusion with strong, untested Induced Polarization (IP) chargeabillity anomalies of up to 40 millivolts per volt.
It forms part of Gungnir’s larger Knaften-Hemberget project which has a developing instruction-hosted gold system, volcanic massive sulphide (VMS)-style mineralization, copper-nickel targets, and disseminated felsic volcanic breccia-hosted gold boulders, which are all open for expansion.
The company said it is preparing a multi-year, updated work plan permit including drilling for Knaften number 600. Subject to conditions, fieldwork is expected to commence in the second quarter of 2024.
Meanwhile, the company highlighted that it continues to advance its key asset, the Lappvattnet nickel project, also located in Sweden’s Vasterbotten District.
It said it is evaluating geophysical options to guide future drilling. Its planned 2024 regional work program will be focused on prospecting and geological mapping to potentially generate new drill targets.
Gungnir Resources is a Canadian-based TSX-V-listed mineral exploration company with gold and base metal projects in northern Sweden.