Gungnir Resources provides exploration update, Sweden

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Gungnir Resources Inc. [GUG-TSXV; ASWRF-OTCPK] provides an update on its current exploration activities in northern Sweden.

Initial prospecting, mapping and sampling commenced earlier this month on the company’s 29.4 kmHemberget property which covers the northern portion of the Knaften structural dome offering potential for gold and base metals. At present, four zones/occurrences are known on the western and southern part of the dome, three of which were discovered by Gungnir.

Surface work is part of the company’s plan to increase exploration coverage across the company’s property portfolio in Sweden to potentially generate new targets while continuing to evaluate options for its nickel resources, including the Lappvattnet high-grade nickel project. The company plans to rank all of its targets/projects and outline possible strategies moving forward.

To date, reconnaissance mapping has been completed at Hemberget including submission of thirty-three samples for geochemical analyses. Mapping and analytical results are pending.

Gungnir Resources has gold and base metal projects in northern Sweden. Gungnir’s assets include two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, both with updated nickel resources, and the Knaften-Hemberget project which hosts a developing intrusion-hosted gold system, VMS-style mineralization, copper-nickel targets, and disseminated felsic volcanic breccia-hosted gold boulders all of which are open for expansion and further discovery.

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