Gungnir Resources Inc. completes eight holes while drilling progresses at Lappvattnet’s high-quality nickel project in Sweden
Gungnir Resources Inc. (TSX-V: GUG, OTC: ASWRF) said that they have completed eight holes when the ongoing drilling program on Lappvattnet’s high-quality nickel project in northern Sweden progresses.
Gungnir updated investors on the program, and said since drilling began in the first week of May that it has completed holes LAP22-01 to LAP22-08 at 1,130 meters. To date, two consignments with drill cores from six holes have been sent to ALS Geochemistry in Mala, Sweden for cutting and analysis preparation.
A total of 223 samples, including certified standards, blanks and duplicates will then be sent to ALS Geochemistry in Ireland for analysis. Analysis results are expected in late July or early August, the company added.
READ: Gungnir Resources says that drilling at Lappvattnet’s high-quality nickel project will start next week
Gungnir noted that the drilling is currently focused on areas during and immersion of its drilling program for 2021, which resulted in several hits of high-quality and broad nickel mineralization over a strike length of about 140 meters. Seven of the holes so far logged cut variable amounts of mainly dispersed sulphides with local narrow semi-massive and massive sulphide sections found in peridotite and enclosing sedimentary gneisses. Sampled core ranges range from 12 to 37m.
2021 peak drilling results:
- 3.19% nickel over 4.25 m within a 10.4 m range with 1.51% nickel in borehole LAP21-02 (from 45 m)
- 2.62% nickel over 5.65 m within a 14 m interval with 1.40% nickel in boreholes LAP21-05 (from 60 m)
- 1.74% nickel over 10 ml borehole LAP21-13 (from 21 m)
- 36 m sorting 0.93% nickel in borehole LAP21-04 (from 49 m)
- 6.5 m sorting 1.58% nickel and 4.75 grams per ton (g / h) platinum group elements (PGEs – platinum, palladium and gold) including 45.53 g / h PGEs over 0.65 m borehole LAP21-14 ( from 41 m)
Gungnir said that its nickel sulphide resources in Sweden include Lappvattnet and Rormyrberget. In 2020, it updated both resources, which together amount to 177 million pounds of nickel. The properties are available all year round with good transport and industrial infrastructure including shipping options and are approximately an hour’s drive from Boliden’s mill.
Lappvattnet has an assumed resource of 780,000 tonnes, which grades 1.35% nickel for 23.1 million pounds (lbs) of nickel. Rormyrberget has an estimated resource of 36.8 million tonnes, which grades 0.19% nickel for 154 million pounds of nickel.
Gungnir Resources is a mineral exploration company with gold and base metal projects in northern Sweden. The assets include two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, both with updated nickel resources.
The company has also recently added the Hemberget property to its Swedish property portfolio, which covers an 11 km long gabbro ultramafic intrusion, a green field of copper-nickel.
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