Business
Gungnir Resources Identifies Geophysical Anomalies Coincident with Gold and Massive Sulphide Targets at Knaften, Sweden
VANCOUVER , Nov. 13, 2014 /CNW/ - Gungnir Resources Inc. (GUG: TSX-V) ("Gungnir" or ...
About this update from Gungnir Resources Inc
[{"type":"text","content":"\n\nVANCOUVER, Nov. 13, 2014 /CNW/ - Gungnir Resources Inc. (GUG: TSX-V) (\"Gungnir\" or the \"Company\") reports that it has acquired an existing airborne survey and identified geophysical anomalies coincident with gold and massive sulphide targets on its Knaften property in northern Sweden. See attached figures.\n\nHighlights include:\n\n\nA 1.5 km long magnetic high coincident with Gungnir's newly discovered cluster of gold-arsenic boulders including assays up to 8.52 g/t Au. The mineralized boulders contain abundant disseminated pyrrhotite (magnetic Fe-sulphide) and thus a good match with this magnetic trend. \nA discrete 500 x 500 metre magnetic high showing excellent correlation with exposed massive sulphides (massive pyrrhotite with pyrite and elevated VMS base metals). The showing also occurs along the edge of a VLF-EM conductor measuring approximately 800 metres in length. \nThe data was purchased from the Swedish Geological Survey then re-processed and re-imaged to incorporate the Company's new prospecting results into a geophysical framework. It includes magnetics and electromagnetics (VLF-EM) data which was extracted from a regional airborne survey (200 metre spaced flight lines) completed in the 1980's. Results presented are for a 20 sq. km area covering the undrilled gold and massive sulphide showing area reported earlier (see GUG news release dated October 28, 2014). The complete survey over the entire 60 sq. km property, which includes several other anomalies to be investigated, will be posted on the Company's website. \n\nJari Paakki, CEO of Gungnir commented \"as bedrock on the property is largely covered with a layer of glacial till, geophysics will play an important role in outlining targets. Re-processed results from this survey indicate potentially sizeable exploration targets based on magnetics data which provides a solid first-pass targeting tool. A new modern high-resolution EM survey will be needed to verify and pin-point potential base metal massive sulphide conductors. A local Induced Polarization (IP) geophysics grid will be highly beneficial and a cost-effective technique to prioritize initial drill targets for gold.\"\n\nThe technical information in this news release has been prepared and approved by Jari Paakki, P. Geo., CEO and a director of the Company.  Mr. Paakki is a Qualified ...