Gungnir Resources Inc. (TSX-V:GUG, OTC:ASWRF) has reported drill results from the Lappvattnet nickel deposit in northern Sweden, revealing one of its top drill intersections to date at the project.
In hole LAP22-19 in section 16E within the central part of the Lappvattnet nickel resource, drilling intersected a nickel zone at approximately 60 meters vertically below surface, where it remains open at depth, the company said. The drill hole returned 9 meters of 2.35% nickel, including 5.66 metres of 3.02% nickel.
New, preliminary interpretations suggest structural folding may control the localization of thickened high-grade nickel shoots, which may be the case for hole LAP22-19.
READ: Gungnir Resources reveals 'impressive drill intercept of massive sulphides' at Lappvattnet nickel deposit
Drilling is ongoing between sections 14E and 18E in the sparsely-tested eastern two-thirds of the Lappvattnet deposit, the company said. Thus far in 2022, the company has drilled 28 holes for approximately 3,900 meters, with the focus on defining further high-grade nickel shoots.
"With just fourteen months of recently focused work at Lappvattnet, we have amassed several impressive nickel drill intersections, all near-surface, and today's results may be the best to-date in our high-grade category,” Gungnir CEO Jari Paakki said in a statement. “We have lots of assays coming and we look forward to reporting further results as we continue to drill-off the Lappvattnet deposit which I think will look quite different once we complete our planned 2022/23 drill program."
As previously announced, Gungnir has received final drilling approvals through the end of 2023 for up to 10,000 meters of drilling.
Explorer Gungnir's nickel sulphide resources in Sweden include the Lappvattnet and Rormyrberget deposits, which boast good infrastructure.
Lappvattnet has an inferred resource of 780,000 tonnes grading 1.35% nickel for 23.1 million pounds (10.5 million kg) of nickel, while Rormyrberget hosts an inferred resource of 36.8 million tonnes grading 0.19% nickel for 154 million pounds (70 million kg) of nickel.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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