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Gungnir Resources Drills 13.7 Metres of 1.2 g/t Gold at Knaften Project in Sweden
VANCOUVER, BC / ACCESSWIRE / October 23, 2017 / Gungnir Resources Inc. (TSX-V: GUG, OTC PINK: ASWRF) ("Gungnir" or the "Company") is pleased to provide results
About this update from Gungnir Resources Inc
[{"type":"text","content":"VANCOUVER, BC / ACCESSWIRE / October 23, 2017 / Gungnir Resources Inc. (TSX-V: GUG, OTC PINK: ASWRF) (\"Gungnir\" or the \"Company\") is pleased to provide results from its recently completed Phase 1 drilling program at Knaften. Highlights: Company confirms near-surface gold mineralization; drills 13.7 m of 1.2 g/t Au in its first hole starting at a depth of 59.9m. Several kilometres open for expansion and exploration along strike. Drill discovery of new, highly anomalous copper-nickel sulphides hosted in layered gabbro; up to 0.53% combined Cu+Ni in assays and high Cu tenor. Numerous untested, highly conductive geophysical targets immediately to the south. \"As relatively expected we confirmed near-surface gold mineralization in the area previously drilled at the Knaften 300 Gold Zone, but what we did not expect is drilling into new copper-nickel bearing sulphides on the property,\" stated Gungnir's CEO, Jari Paakki. \"Not only do we have an excellent gold play, we now have copper-nickel targets at Knaften that could potentially add to our Sweden nickel-copper resources we already have (## historical resources of 70 million pounds of nickel). Now that we have completed a quick first pass, we plan to ramp-up drilling efforts in 2018 on both gold and base metals targets.\" - (## Gungnir is not treating the historical estimates as current mineral resources and that a qualified person has not done sufficient work to classify the historical estimates as current resources. See news release dated February 24, 2015.) The Company is currently planning for the next phase of drilling at Knaften. On the gold side, step-out drilling to expand the Knaften 300 Gold Zone and wide-spaced drilling northwest and southwest along the regional magnetics break are being planned. For base metal targeting, ten electromagnetic conductors, many with very high conductivity, from Gungnir's 2017 ground EM survey located immediately southwest and south of KN17-05 are being evaluated for drill testing. A 4,000 to 5,000 metre phase 2 drill program is warranted. In the current drilling, Gungnir completed 546 m of NQ2 core drilling in 5 holes. The primary goals of the initial program were to ground-truth reported historic gold mineralization (KN17-01 to -03) at the now named \"Knaften 300 Gold Zone\" and to test magnetic geophysical targets that potentially rela...