Gungnir Samples 12.50 metres of 2.33% Nickel in Sweden
News Release GUG: TSX-V
ASWRF: OTCPK
Gungnir Samples 12.50 metres of 2.33% Nickel in Sweden
Surrey, BC – July 14, 20 20 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) reports final re-sampling results of archived drill core from the Company’s two nickel deposits
in northern Sweden. Results from the Rormyrberget nickel deposit include:
• 2.33% Nickel over 12.50 metres, including 3.00% Nickel over 5.10 metres
• 1.51% Nickel over 13.05 metres, including 3.01% Nickel over 3.85 metres
Jari Paakki, CEO of Gungnir comment ed, “The next planned step at our nickel projects is to update the
historic estimates to current resources with a view of strengthening nickel prices in the near -future. Our
current exploration focus in Sweden is gold. Drilling is on -going at our Knaften project focused on
expanding our 2019 high-grade gold discovery of 59.60 g/t Au over 1.0 metre within a mineralized interval
grading 14.07 g/t Au over 4.25 metres. Results of our exploration work will be made available through the
summer and fall.”
The Lappvattnet and Rormyrberget nickel deposits contain over 70 million pounds (Mlbs) nickel, 10 Mlbs
of copper and 2 Mlbs of cobalt in historic al estimates (see Note 1). At Rormy rberget, the historical
estimate is 6,370,000 tonnes @ 0.35% Ni, 0.04% Cu and 0.01% Co for 48.7 Mlbs of Ni, 5.5 Mlbs of Cu and
1.9 Mlbs of Co.
Sampling Results:
DDH_ID From (m) To (m) Length (m) Ni % Cu % PGE's g/t *
ROR 90024 155.90 168.40 12.50 2.33 0.45 0.42
including 160.35 165.45 5.10 3.00 0.36 0.54
including 160.95 161.30 0.35 3.24 0.32 2.56
and including 164.00 164.65 0.65 4.20 0.09 0.43
ROR 91002 159.95 173.00 13.05 1.51 0.28 0.30
including 161.05 164.90 3.85 3.01 0.50 0.44
* PGE's g/t = platinum (Pt) + palladium (Pd) + gold (Au)
Mineralization at Rormyrberget consists of both massive sulphide s and wide disseminated zones which
includes previously reported drill intersections of 125 metres grading 0.39% Ni. The Company focused on
the more massive sulphide intervals and selected t wo of the relatively complete core section s for
sampling. Gungnir’s results compared very favourably with originally reported assays in drill holes ROR
90024 (19.05 m grading 2.05% Ni, 0.41% Cu) and ROR 91002 (14.65 m grading 1.62% Ni , 0.45% Cu) even
though there were some narrow intervals of missing core which we assigned 0.00% Ni, 0.00% Cu and 0.00
g/t PGE's in our sampling . Gungnir’s sampling also included PGE analysis (platinum + palladium + gold)
which were not assayed in these ear lier drilled holes. Cobalt values were all comparably low (mostly
<0.1%).
News Release GUG: TSX-V
ASWRF: OTCPK
Sampled drill core is archived at the SGU (Swedish Geological Survey) core facility in Mala Sweden. Drill
core samples represent one -quarter drill core which was halved by sawing already split drill core. Core
was logged and tagged for sampling at the core facility, then brought to ALS Minerals’ Core Services
Laboratory also in Mala. Core was sawed on site by ALS staff and sample material was sent to ALS’s Lab in
Ireland. Ni was analyzed using fire assay method Ni-OG46, Cu was analyzed using ME-MS41 and Cu-OG46
and Pt, Pd, and Au were analyzed using fire assay method PGM -ICP27. Sample lengths reported in the
above table are core lengths.
Note 1: A qualified person for Gungnir Resources has not done sufficient work to classify the historical
estimates as current resources and Gungnir is not treating the historical estimates as current mineral
resources. Further information on Lappvattnet and historical estimate references and details, please refer
to this link: http://www.gungnirresources.com/projects/lappvattnet-rormyrberget/overview/.
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 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
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.
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News Release GUG: TSX-V
ASWRF: OTCPK
variations of such words and phrases or statements that certain actions, events or results "may", "could",
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