Gungnir Resources has identified a new surface gold exploration target on its 100%-held Hemberget project in Sweden, located in the south-east part of the reginal Gold Line in the Vasterbotten District.
The company said mapping, prospecting and sampling carried out in early June returned assay results of up to 0.422 grams per ton of gold associated with characteristic Gold Line arsenopyrite, greater than 10,000 parts per million.
Four of the eight samples collected returned gold values ranging from 0.202 to 0.422 grams per ton of gold, with five samples returning more than 6,550 parts per million arsenopyrite, including three samples greater than 10,000 parts per million arsenopyrite.
The company said that so far at the project, highly anomalous gold mineralization occurs in angular to sub-angular arsenopyrite-bearing, silica-sericite+/-biotite altered and quartz veined float along a more than two-kilometer west-northwest trend.
The angular shape of the float samples and their location along the geologic-magnetic contact suggest they originate from a nearby bedrock source.
At the western end of the trend, mineralized and altered float samples are spread over a north-south distance of about 300 meters.
On the larger property scale, a magnetic high extends for 11 kilometers in an arc shape, with felsic volcanics on its northern contact being the exploration target.
"This new surface gold exploration target bolsters our gold and nickel portfolio in Sweden, currently highlighted by a developing intrusion-hosted gold target at Knaften and our high-grade Lappvattnet nickel deposit,” Gungnir Resources CEO Jari Paakki said in a statement.
“While still in its very early stages, initial results point to a definitely pursuable gold prospect at Hemberget which shares an arsenopyrite association similar to other gold deposits along the regional Gold Line.”
The CEO added: “With only limited samples collected to date, the next step is further field work to get more samples for assay and to possibly locate bedrock mineralization.”