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DGAP-News: Gungnir Contracts EM Survey for Lappvattnet Nickel Project

DGAP-News: Gungnir Resources Inc. / Key word(s): Miscellaneous
Gungnir Contracts EM Survey for Lappvattnet Nickel Project

01.11.2021 / 15:00
The issuer is solely responsible for the content of this announcement.

Gungnir Contracts EM Survey for Lappvattnet Nickel Project

SURREY, BC / ACCESSWIRE / November 1, 2021 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") announces plans to complete ground electromagnetic (EM) geophysics at its Lappvattnet nickel project in northern Sweden. The planned EM survey will cover the entire strike length of the Lappvattnet nickel deposit and is intended to prioritize near-surface drill targets and to build upon the Company's first phase drill program.

2021 Drill Program Summary (Results to Date):

The Company's recently completed 15-hole drill program at Lappvattnet tested the western part of the deposit with a series of tight-spaced holes to better define the geometry of the mineralized zone. Drilling covered a strike length of 140 metres which represents just 20% of the total strike length of the nickel deposit. Results received to date include some excellent drill holes with both high-grade massive sulphides and wider zones of disseminated mineralization, all near-surface. Six of seven holes demonstrated continuity of the 2020 inferred mineral resource, four of which expanded nickel mineralization outside of the resource block. Assays for core from eight additional holes are pending and are somewhat delayed due to a backlog at the lab. Results to date are tabled below (all are previously reported in news releases dated August 31 to October 8, 2021):

Hole IDFrom (m)To (m)Length (m)Ni %Cu %Co %PGEs (g/t)
LAP21-01 *43.0044.
LAP21-02 *28.0049.6521.651.
LAP21-03 #36.4037.601.201.490.290.040.18
LAP21-04 *49.0085.0036.000.930.220.020.28
LAP21-05 *62.0095.1533.150.980.110.020.28
LAP21-06 #53.0058.005.001.500.210.030.10
PGEs (g/t) = platinum (Pt) + palladium (Pd) + gold (Au)
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