Gungnir Resources Inc. (TSX-V:GUG, OTC:ASWRF) announced that it has added the Hemberget property to its package of polymetallic projects in northern Sweden.
The 29.4-square-kilometre property was acquired by staking in order to evaluate the potential for intrusion-hosted copper-nickel and volcanogenic massive sulphide (VMS) mineralization.
"The Hemberget area has been on our radar for a few years now after we made new copper-nickel and VMS discoveries on our Knaften project, which was previously regarded as a gold-only area," Jari Paakki, CEO of Gungnir said in a statement.
"The striking feature on the newly acquired Hemberget permit is an impressive, 11-kilometre long magnetic anomaly which maps out a gabbro-ultramafic intrusion similar to much smaller bodies on the Knaften project that we now know are copper-nickel mineralized. In addition to potential copper-nickel mineralization, the property covers some text-book VMS geology which adds further potential at Hemberget."
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Hemberget is located approximately 6 kilometres (km) north of Gungnir's Knaften project in the Vasterbotten region of northern Sweden, hosting the prolific Skellefte VMS-gold belt, Gold Line and Nickel Line.
“The property covers the northern part of the Knaften greenstone belt, covering a thick package of dacite and rhyolite volcanics, including fragmentals, alongside mafic pillow lavas, straddling the large magnetic anomaly which corresponds to the Hemberget gabbro-ultramafic intrusion,” Gungnir noted.
The company is working on a detailed compilation workplan, including an initial prospecting and mapping at Hemberget.
“Based on information on hand, including (from) the SGU (Swedish Geological Survey) website, the property has seen minimal exploration. The bulk of the company's 2022 exploration program will be devoted to drilling nickel projects as well as our new, large gold target at Knaften,” it added.
Separately, Gungnir said it has granted 2,539,778 incentive stock options to the directors and a consultant of the company to purchase common shares at $0.14 per share for five years.
Gungnir Resources is a Canadian-based mineral exploration company with gold and base metal projects in northern Sweden. Its assets include two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, with inferred resources totalling 177 million pounds of nickel, 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