Gungnir Outlines Exploration Plans for Sweden
News Release GUG: TSX -V
ASWRF: OTCPK
Gungnir Outlines Exploration Plans for Sweden
Surrey, BC – February 12, 2020 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) is pleased to provide an update on preli minary exploration plans for Sweden in 2020. Drill-
testing multiple targets on three properties for go ld, base metals and PGE’s (platinum-palladium) are
planned to rank targets moving forward.
On the Knaften property, the Company plans to drill -test several targets focused on high-grade gold as
first priority. In the past three years Gungnir has made three new discoveries at Knaften; one in each
year the Company has drilled:
2019: Stacked gold system identified, including a new lower zone with high-grade gold including
59.6 g/t Au over 1.0 metre within a broader interval grading 14.07 g/t Au over 4.25 metres;
2018: Large volcanogenic massive sulphide (VMS) system with favourable VMS geology including
widespread, elevated zinc and copper over core lengths greater than 100 metres; and
2017: Copper-nickel mineralization over core length s greater than 10 metres in favourable
intrusive rocks.
East of Knaften, Gungnir plans to up-date historic nickel-copper-cobalt resources on its Lappvattnet and
Rormyrberget claims. At both deposits significant drill intersections are reported, including:
3.21% Ni + 4.28 g/t PGE’s (platinum-palladium-gold) over 4.97 metres, and 2.63% Ni over 12.5
metres at Lappvattnet; and
3.95% Ni over 2.0 metres, and 1.16% Ni over 19.55 metres at Rormyrberget.
In addition to plans to complete its own drill hole s at Lappvattnet and Rormyrberget, Gungnir is
evaluating the availability of archived drill core for potential re-sampling and assaying for PGE’s. P GE’s
have been reported in select drill holes; however, most of the historic core was not assayed for platinum
group metals.
Permitting and claim maintenance is underway at Kna ften, Lappvattnet and Rormyrberget. Drilling is
expected to commence once all permitting is finaliz ed and conditions allow. Up to 2,000 metres of
drilling is anticipated.
Since 2017, the Company has drilled approximately 4,500 metres and completed numerous geophysical
surveys at Knaften, and has completed 3-D modelling and property-wide geophysics at both Lappvattnet
and Rormyrberget which collectively contain over 70 million pounds of nickel in historic resources.
(*For Lappvattnet and Rormyrberget, Gungnir has not verified historic drill intersections and a qualif ied
person for Gungnir Resources has not done sufficien t work to classify the historical estimates as curr ent
resources and Gungnir is not treating the historical estimates as current mineral resources.)
News Release GUG: TSX -V
ASWRF: OTCPK
The 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 Person under National Instrument 43-101.
About Gungnir Resources
Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with
gold and base metal permits in northern Sweden. The Company’s key project, Knaften, hosts high-grade
gold, VMS (zinc-copper) and copper-nickel targets, and all are open for expansion and further discovery.
The Company also holds two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, located east
of Knaften. Further information about the Company a nd its properties may be found at
www.gungnirresources.com or at www.sedar.com .
On behalf of the Board,
Jari Paakki, CEO and Director
For further information contact:
Head Office/Investor Relations
Phone: +1-604-683-0484
Jari Paakki, CEO
Email: [email protected]
Chris Robbins, CFO
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made herein may contain
forward-looking statements or information within th e meaning of Canadian securities laws. In certain
cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "i s
expected", "budget", "scheduled", "estimates", "for ecasts", "intends", "anticipates" or "believes", or
variations of such words and phrases or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved", or the negative of these words or
comparable terminology. By their very nature forwar d-looking statements involve known and unknown
risks, uncertainties and other factors which may ca use the actual performance of the Company to be
materially different from any anticipated performan ce expressed or implied by the forward-looking
statements. Such forward-looking statements or information include, but are not limited to, statements
or information with respect to Gungnir’s plan for f uture exploration and development of its properties ,
Gungnir’s plan for future disclosure relating to exploration and development of its properties within the
timelines set out above or at all. Forward-looking statements or information are based on a number of
estimates and assumptions and are subject to a vari ety of risks and uncertainties, which could cause
actual events or results to differ from those reflected in the forward-looking statements or information.
Should one or more of these risks and uncertainties materialize, or should underlying estimates and
assumptions prove incorrect, actual results may vary materially from those described in forward-looking
News Release GUG: TSX -V
ASWRF: OTCPK
statements or information. For example, there is no certainty, that any economically viable mineral
deposit will be located on the properties, that the Company will receive or be able to raise sufficien t
capital to complete all of its exploration programs as anticipated. Accordingly, undue reliance should not
be placed on forward-looking statements or informat ion. Gungnir does not expect to update forward-
looking statements or information continually as co nditions change, except as may be required by
securities law.