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Gungnir Drills More Long Intervals of Mineralized Conglomerate in Sweden
Vancouver, British Columbia (FSCwire) - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to report that the Company has
About this update from Gungnir Resources Inc
[{"type":"text","content":"Vancouver, British Columbia (FSCwire) - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to report that the Company has intersected additional long core lengths of sulphide mineralized conglomerate at Knaften in holes KN18-09 and -10, 230 metres and 120 metres respectively. Assay results received for hole KN18-07 along with a newly interpreted geological setting point to VMS (volcanogenic massive sulphide) related mineralization. The new target on the Knaften property is named Rodingtrask. Highlights: First results from Rodingtrask in hole KN18-07 show widespread Zn, Cu and Ag across the entire mineralized conglomerate; grading 0.24% ZnEq over 120.50 metres, including 0.35% ZnEq over 28.2 metres at its base Current working model is a mafic volcanic-sediment VMS system but elevated Ni may draw similarities to the hybrid, Talvivaara black shale-hosted Ni-Zn-Cu deposit in Finland Presence of sphalerite (Zn)-rich clasts in the host conglomerate suggests erosion from an existing sulphide deposit in the area Initial indication of a gold-bearing plumbing system with elevated gold values in footwall rocks in hole KN18-07 Target area approximately 800 metres wide and open ended along strike and at depth Awaiting 380 assays from holes KN18-08, -09 and -10 Jari Paakki Gungnir’s CEO stated, “From initial results it looks like we have tapped into large mineralized halo indicative of a potentially very large hydrothermal system. After reviewing the first assays from hole KN18-07 and core from holes KN18-08, -09 and -10, there are several indicators of a VMS setting including characteristic VMS base metals, footwall chlorite alteration, widespread silicification and the presence of a potential marker “exhalite” horizon. As with almost all VMS systems, the prize is to locate the core of it targeting potential massive, high-grade mineralization.” Mr. Paakki continued, “Knaften is proving to be a true Swedish smorgasbord with three distinct targets on it: VMS related (Rodingtrask), intrusion-related gold (Knaften 300 Gold Zone) and a Cu-Ni magmatic sulphide target. With a significant hydrothermal system indicated at Rodingtrask, this target has been moved to the top of our list”. Location maps, additional information and drill core photos will be available for viewing via the home page link (Rodingtrask 20...