Gungnir Extends Key Knaften Gold Licence and Highlights Regional Exploration Potential

ACCESSWIRE · Gungnir Resources Inc.

In This Article:

SURREY, BC / ACCESSWIRE / January 24, 2024 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to report that it has received approval from Sweden's Inspector of Mines to extend a key licence, Knaften nr 600, for a further three years. The 18.8 km2 licence covers the southern part of a gold-hosting intrusion and strong, untested Induced Polarization (IP) chargeability anomalies up to 40 mV/V. See accompanying maps (Figure 1).

All of Gungnir's projects (115 km2) are situated in Sweden's Vasterbotten District which hosts over ten million ounces of gold delineated in existing and mined resources, including several past-producing and producing volcanogenic massive sulphide (VMS) base metal mines in the well-known Skellefte Belt. Gungnir's nickel resources are located in the eastern part of the district, including its key asset, Lappvattnet. Currently, the Company is reviewing geophysical options at Lappvattnet focused on the eastern down-plunge potential of high-grade nickel sulphides (see most recent drill section in news release dated September 28, 2023; https://www.gungnirresources.com/_resources/news/nr20230928-fig1.pdf?v=0.581).

Initial Work Plans

Two-fold objective of continuing to advance its Lappvattnet high-grade nickel project and increase exploration coverage across the Company's entire property portfolio. In addition to evaluating geophysical options (and completing if viable) at Lappvattnet to guide future drilling, the planned 2024 regional work program will have an emphasis on prospecting and geological mapping to potentially generate new targets along side already defined IP chargeability anomalies at Knaften nr 600. A multi-year, updated work plan permit (2024-25) for Knaften nr 600, inclusive of drilling, is being prepared. The start of field work is expected in the second quarter of 2024 as conditions allow.

Background

The newly extended licence forms part of Gungnir's larger Knaften-Hemberget project located along the south end of the "Gold Line" covering up-ice of one of the largest gold-in-till anomalies in Sweden. The bedrock source is believed to be partially identified at the Knaften 300 Gold Zone (held by Gungnir, see below), but based on the sheer size of the anomaly it is conceivable to expect more gold to be found in situ. Other gold-in-till anomalies in the district are related to either current and past-producing gold mines or known gold resources.

The Knaften-Hemberget area is interpreted to represent a partially preserved structural dome where geologic units, and importantly potential mineralization, may be repeated along its current outer margins. This new geological model bodes well for potential new discoveries at Hemberget, including gold and base metals. At present, four zones/occurrences are known on the Knaften property, three of which were discovered by Gungnir. Please refer to the Company's website for all news releases related to Knaften and Hemberget and refer to accompanying maps: