Gungnir Resources Inc has outlined its plans in Sweden for 2022 with nickel as a key driver and provided exploration highlights from 2021.
In a statement, Jari Paakki, Gungnir CEO, commented: "Our plan for 2022 is to build upon Gungnir's 2021 high-grade nickel results which were some of the top, near-surface nickel drill intercepts reported in the junior-sector last year.
"We are planning to allocate more than three-quarters of our available exploration funds on nickel, with most of the planned drilling directed at our Lappvattnet nickel project targeting further high-grade nickel shoots. We also have an impressive new gold target at Knaften which we plan to drill-test with a few holes."
READ: Gungnir identifies twin conductor at Lappvattnet nickel project in Sweden
Planned 2022 Exploration Program:
- 75% or more of available exploration funds on nickel with up to 4,000 metres of drilling planned
- The company intends to fund its exploration activities by financings in 2022, the details of which would be announced by a separate news release
- Anticipated start late spring as conditions allow
- At Lappvattnet, expanded drilling to test for further high-grade nickel shoots along strike, down-plunge and down-dip of 2021 drill holes, plus the "twin" north EM conductor
- At Knaften Gold, initial testing of new IP anomalies (area has not seen any previous exploration); drill permits and approvals pending
- At Rormyrberget, evaluate and prioritize targets; timing of drilling to be determined
Project Highlights from 2021:
Lappvattnet Nickel:
- Phase one drill program covered just 20% of the total strike length of Lappvattnet
- Consistent shallow drill hits of high-grade and wide zones of nickel mineralization, including:
- 3.19% Nickel over 4.25 metres within a 10.4-metre interval grading 1.51% Nickel in drill hole LAP21-02 (from 45 metres)
- 2.62% Nickel over 5.65 metres within a 14.0-metre interval grading 1.40% Nickel in drill hole LAP21-05 (from 60 metres)
- 1.74% Nickel over 10.00 metres in drill hole LAP21-13 (from 21 metres)
- 36.00 metres grading 0.93% Nickel in drill hole LAP21-04 (from 49 metres)
- Outlined a near-surface untested "twin" electromagnetic (EM) conductor 100 metres north of the Lappvattnet nickel resource
Knaften Gold:
- Target: bedrock source of one of the largest gold-in-till anomalies in Sweden
- Expanded the property to cover entire favourable host rock, a 4 km x 5 km intrusion
- Completed induced polarization (IP) geophysical survey over parts of the expanded area which outlined very significant IP chargeability anomalies (up to 40 mV/V) within the intrusion
- Rormyrberget Nickel: Outlined untested EM targets outside of the nickel resource
Gungnir also said its nickel sulphide resources in Sweden include Lappvattnet and Rormyrberget. In 2020, the company updated both resources which collectively total 177 million pounds of nickel. The properties are accessible year-round with good transportation and industrial infrastructure including shipping facilities and are located about an hour drive from Boliden's mill complex.
- Lappvattnet: Inferred Resource of 780,000 tonnes grading 1.35% nickel for 23.1 million lbs (10.5 million kg) of nickel
- Rormyrberget: Inferred Resource of 36,800,000 tonnes grading 0.19% nickel for 154 million lbs (70 million kg) of nickel
Gungnir Resources is a Canadian-based TSX-V listed mineral exploration company with gold and base metal projects in northern Sweden. The company's assets include two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, both with updated nickel resources, and the Knaften project which hosts a developing intrusion-hosted gold system, and VMS (zinc-copper) and copper-nickel targets, all of which are open for expansion and further discovery.
Contact the author at jon.hopkins@proactiveinvestors.com