Gungnir Outlines Significant IP Anomaly at Knaften in Sweden
News Release GUG: TSX-V
ASWRF: OTCPK
Gungnir Outlines Significant IP Anomaly at Knaften in Sweden
Surrey, BC – July 7, 20 21 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) announces the discovery of an extensive Induced Polarization (IP) anomaly at its Knaften
gold project in Sweden. Please click this link for map (see map).
The new IP anomaly (up to 30 mV/V) measures approximately 1,200 metres by at least 700 metres and
is open to the north and south. It is located in an unexplored area within the southern half of a 4 x 5 km
quartz diorite intrusion , entirely held by Gungnir , and approximately 3 kilometres southeast of the
Company’s disseminated-style Knaften 300 Gold Zone (“Knaften 300”) . Knaften 300 includes shallow
intersections of high -grade gold including 59.6 g/t Au over 1.00 metre in hole KN19 -06 and numerous
wide zones of gold mineralization including 2.92 g/t Au over 13.00 metres in hole 200707. Previous
surveys in the Knaften 300 area have produced comparable IP responses.
"The preliminary results from our IP survey are very encouraging given that the new anomaly is situated
within the same quartz diorite intrusion that host s the Knaften 300 Gold Zone. The size of this new IP
anomaly indicates the potential for a large r area of mineralization on the new license , Knaften nr 600,
which we just acquired in January of this year," commented Jari Paakki, CEO of Gungnir.
The survey also identified two additional IP anomalies worth merit located southwest and north of the
large anomaly. The survey was carried out by Geovista AB, from Lulea, Sweden . Preliminary maps have
been received and a final report from Geovista is expected shortly. Any a dditional significant survey
results will be released after Gungnir receives this report.
The Company is considering additional IP coverage and plans to incorporate new IP targets into its
future exploration work plans, inclusive of drilling. The Company is currently drilling at Knaften 300 after
which drilling is scheduled at its Lappvattnet nickel-copper-cobalt-PGE (platinum, palladium and gold)
project where drill collar locations have been finalized.
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. Gungnir’s key project, Knaften, which hosts a
developing intrusion-hosted gold system, and VMS (zinc-copper) and copper-nickel targets, all of which
are open for expansion and further discovery. East of Knaften, t he Company holds two nickel -copper-
cobalt deposits, Lappvattnet and Rormyrberget . Further information about the Company and its
properties may be found at www.gungnirresources.com or at www.sedar.com.
On behalf of the Board,
Jari Paakki, CEO and Director
News Release GUG: TSX-V
ASWRF: OTCPK
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.
Forward-Looking Information
Certain statements in this news release may constitute “forward -looking information” within the meaning of
applicable securities laws (also known as forward -looking statements). Forward -looking information involves
known and unknown risks, uncertainties and other factors, an d may cause actual results, performance or
achievements or industry results, to be materially different from any future results, performance or achievements
or industry results expressed or implied by such forward -looking information. Forward -looking infor mation
generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”,
“expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and
phrases, includin g references to assumptions. Some of the specific forward -looking information in this news
releases includes, but is not limited to, statements with respect to : expectations and interpretations that new IP
anomalies are the result of disseminated sulphide mineralization; expectations that targets will lead to discovery of
gold mineralization; expectations of additional IP coverage; planned drilling activities, and the expected timing
thereof; expectations that drilling will lead to gold zone extensions, nic kel-copper deposit expansions or added PGEs
and Gungnir’s plan for development of its properties and the timing thereof.
Forward-looking information is based on a number of key expectations and assumptions made by Gungnir,
including, without limitation: the COVID-19 pandemic impact on the Canadian and global economy and Gungnir’s
business, and the extent and duration of such impact; no change to laws or regulations that negatively affect
Gungnir’s business; there will be a demand for Gungnir’s services an d products in the future; Gungnir will be able to
operate its business as planned; and Gungnir’s plans for future exploration and development of its properties is
reasonable and will be possible within the anticipated timelines. Although the forward -looking information
contained in this news release is based upon what Gungnir believes to be reasonable assumptions, it cannot assure
investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management’s current
expectations and plans relating to the future and readers are cautioned that such statements may not be
appropriate for other purposes. Forward -looking information involves significant risks and uncertai nties and should
not be read as a guarantee of future performance or results as actual results may differ materially from those
expressed or implied in such forward -looking information. Those risks and uncertainties include, among other
things, risks relat ed to: no certainty that any economically viable mineral deposit will be located on Gungnir’s
properties; that Gungnir may not be able to complete its planned drilling and Induced Polarization geophysics as
anticipated; the impacts of the COVID -19 pandemic ; ability to access capital markets; environmental matters;
changes in legislation or regulations; receipt of required licenses, permits and approvals; and resource estimates
may not be accurate and may differ significantly from actual mineral resources. M anagement believes that the
News Release GUG: TSX-V
ASWRF: OTCPK
expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions
and information currently available; however, management can give no assurance that actual results will be
consistent with such forward -looking information. The forward -looking information contained this news release is
expressly qualified in its entirety by this cautionary statement. Forward -looking information reflects management's
current beliefs and is based on inf ormation currently available to Gungnir. The forward -looking information is
stated as of the date of this news release and Gungnir assumes no obligation to update or revise such information
to reflect new events or circumstances, except as may be required by applicable law.
Knaften Intrusion-Hosted Gold Target: New
Induced Polarization (IP) Anomalies
2 km
Knaften 300 Gold Zone
Gold Occurrence
Quartz Diorite
Intrusion
Gungnir permits
in green
Permit information from SGU website. Quartz diorite outline and
historic drill areas on the north edge of the intrusion from
Lappland Goldminers (previous operators)
Limits of Previous
Drilling
Cu-Ni Discovery
VMS Discovery
8.52 g/t Au
Boulder Discovery
Barsele Gold Deposit (>2 Moz Au)
same-scale reference. Source:
Agnico Eagle website (Jan 2021)
IP Survey Blocks
Chargeability Anomaly
~1,200m x 700m (min.)
within Favourable
Intrusion
IP surveys attempted;
aborted, no transmitter
current likely due to graphite
Knaften nr 300
Knaften nr 500
Knaften nr 600 (acquired
in Jan, 2021)
Knaften nr 200
IP (mV/V)