Gungnir Samples 4.64% Nickel over 0.65 metres at Lappvattnet
News Release GUG: TSX-V
ASWRF: OTCPK
Gungnir Samples 4.64% Nickel over 0.65 metres at Lappvattnet
Surrey, BC – July 08, 20 20 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) reports up to 4.64% Ni over 0.65 metres at its Lappvattnet property in Sweden. Results are
from re-sampling of archived drill core at the Lappvattnet nickel deposit.
Jari Paakki, CEO of Gungnir comments, “ We continue to work on evaluating our nickel proje cts while
actively and currently drilling gold targets at our Knaften project in Sweden. R esults reported today are
from re-sampling of 1970’s archived drill core from Lappvattnet as part of our plan to log and validate
historic core. Although a good portion of the 45 -year-old drill core has been scavenged, still its
availability at the Swedish Geological Survey core archives (indoor) along with three complete core
sections from 2007 drilling, which we sampled earlier (see NR dated March 30, 2020), provides us with a
cost-effective way to confirm significant nickel mineralization and increase our understanding of the
deposit. Our next planned step is to update the historic resource at Lappvattnet.”
Along with Lappvattnet, the Company holds the Rormyrberget nickel deposit located in the same
general area. The two deposits collectively contain over 70 million pounds (Mlbs) nickel, 10 Mlbs of
copper and 2 Mlbs of cobalt in historic resources. At Lappvattnet, the historical estimate is 1,139,000
tonnes @ 0.91% Ni, 0.19% Cu and 0.02% Co for 22.9 Mlbs of Ni, 4.8 Mlbs of Cu and 0.5 Mlbs of Co (see
Note 1).
Results Table
DDH_ID From (m) To (m) Length (m) Ni % PGE's g/t * Pt g/t Pd g/t Au g/t
76008 # 95.33 95.85 0.52 1.53 0.38 0.01 0.09 0.28
76009 # 85.34 87.00 1.66 1.37 0.26 0.03 0.16 0.07
76010 # 131.77 132.42 0.65 4.64 0.40 0.04 0.20 0.16
76005 # 84.66 85.05 0.39 3.08 0.38 0.01 0.25 0.12
75002 91.59 91.65 0.06 5.86 0.22 0.04 0.12 0.06
75001 78.40 79.29 0.89 0.89 0.09 0.01 0.02 0.06
74226 # 93.18 95.07 1.89 2.45 0.25 0.03 0.12 0.10
74226 97.07 97.53 0.46 2.63 0.33 0.01 0.15 0.17
75006 85.70 85.77 0.07 2.56 0.23 0.04 0.12 0.07
75003 88.00 89.08 1.08 0.91 0.08 0.01 0.02 0.05
75004 150.36 152.08 1.72 0.63 0.03 0.01 0.01 0.01
75007 # 138.52 139.45 0.93 2.00 0.13 0.01 0.08 0.04
75008 39.65 39.76 0.11 2.19 0.71 0.37 0.13 0.21
74212 48.24 48.70 0.46 2.10 0.11 0.01 0.03 0.07
74001 28.33 28.45 0.12 2.51 0.34 0.06 0.12 0.16
* PGE's g/t = platinum (Pt) + palladium (Pd) + gold (Au)
# contains narrow sections of missing core; a value of 0.00% Ni and 0.00 g/t PGE's has been assigned to these intervals
News Release GUG: TSX-V
ASWRF: OTCPK
Re-sampling on a metre by metre comparison basis could not be undertaken, especially in the most
massive sulphide sections, since many of the 1970’s holes had only a section or two of core available for
sampling. In some of the intervals reported above, several, half-decimetre to decimetre sections of core
were missing; these missing intervals were assigned a value of 0.00 % Ni and 0.00 g/t PGE’s. Incomplete
core sections contribute to narrow er intervals and lower nickel grades, and also any PGE-rich section, if
any, may have been lost. Gungnir’s earlier re -sampling of Lappvattnet core returned up to 50.91 g/t
PGE’s (39.0 g/t platinum, 11.8 g/t palladium, 0.11 g/t gold) and 2.13% nickel over 0.45 metres (see NR
dated March 30, 2020).
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 Servi ces
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 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]
News Release GUG: TSX-V
ASWRF: OTCPK
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