Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) has intersected a wide zone of nickel at the company’s Lappvattnet nickel deposit in Sweden.
Lappvattnet is located approximately one hour south of the major industrial centres of Boliden and Skelleftea where mining and smelting are well established and where a new battery manufacturing plant is under construction.
- 33.15 metres grading 0.98% nickel including recently reported high-grade upper portion grading 2.62% nickel over 5.65 metres in hole LAP21-05
- 5.61% nickel over 0.85 metres within 5.0 metre interval grading 1.5% nickel in hole LAP21-06
- Assays pending for eight more drill holes
Holes LAP21-05 and -06 are part of the company’s 15-hole phase one drill program covering a strike length of 140 metres across the Lappvattnet deposit. The goal of the programme is to test the shallow western part of the deposit with a series of tight-spaced holes to better define the geometry of the mineralised zone. New drilling and assays are expected to be incorporated into future resource upgrades.
The Lappvattnet deposit covers a strike length of about 700 metres. The sulphide zone dips steeply to the south and plunges shallowly to the east. The deepest vertical eastern part of the 2020 resource is less than 200 metres below surface. Drill density decreases considerably to the east. See accompanying link with maps and cross-sections 8E, 9E and 10E.
Hole LAP21-05 was drilled on Section 9E, whereas LAP21-06 was drilled on Section 10E located 40 metres to the northeast. On Section 9E, LAP21-05 as well as LAP21-04 hit a thickened section of the host peridotite intrusion and expand nickel mineralisation beyond the 2020 resource block.
On Section 10E, LAP21-06 confirms continuity of the 2020 resource block. LAP21-07 was also drilled on Section 10E but over-shot mineralisation.
Gungnir’s nickel 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.
For further information please visit: http://www.gungnirresources.com/