Gungnir Resources says initial drill results show wide zones of nickel mineralization at its Lappvattnet deposit in northern Sweden By Proactive Investors

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Gungnir Resources says initial drill results show wide zones of nickel mineralization at its Lappvattnet deposit in northern Sweden

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Gungnir Resources says initial drill results show wide zones of nickel mineralization at its Lappvattnet deposit in northern Sweden

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Gungnir Resources Inc has reported its first 2022 assay results as drilling continues at its Lappvattnet nickel deposit in northern Sweden with the goal of upgrading and expanding the existing resource.

Highlights from the initial six drill holes include wide zones of nickel mineralization up to 19 metres (m) grading 0.80% nickel starting at 68m down-hole, with peak individual assays of 4.29%, 3.45% and 2.8% nickel.

The results from four holes, three of which Gungnir Resources said contain sections of massive sulphide, are pending.

READ: Gungnir Resources drills new ultramafic horizon just north of Lappvattnet nickel deposit in Sweden

The company said there was significant potential to thicken the existing resource and expand it along strike and down-plunge to the east, noting that the newly defined parallel “North Trend” defined by a string of near-surface electromagnetic anomalies offered additional up-side potential on the property.

Drilling is now progressing to the sparsely drilled eastern two-thirds of the deposit which includes numerous high-grade nickel intersections, with six historic drill holes containing assays greater than 5% nickel.

The company said it has submitted a work plan to continue drilling at Lappvattnet to the end of 2023 for up to 10,000m of drilling, for which approval is pending. Its current workplan is valid to August 31, 2022.

Gungnir Resources is a Canadian-based, TSX-V-listed mineral exploration company with gold and base metal projects in northern Sweden.

Contact the author at emily.jarvie@proactiveinvestors.com

Follow her on Twitter (NYSE:TWTR) @emilyjjarvie

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