Gungnir Samples 50.91 g/t Platinum-Palladium-Gold over 0.45 metres at Lappvattnet in Sweden
News Release GUG: TSX-V
ASWRF: OTCPK
Gungnir Samples 50.91 g/t Platinum-Palladium-Gold over 0.45 metres
at Lappvattnet in Sweden
Surrey, BC – March 30, 2020 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCPK) (“Gungnir” or the
“Company”) reports 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 at its Lappvattnet property in Sweden. Results are from initial re-sampling of
archived drill core in advance of plans to update the historic resource at Lappvattnet and to evaluate the
grade and distribution of PGE’s.
Jari Paakki, CEO of Gungnir comments, “ In addition to our Knaften project, where we’ve made three
new discoveries over the past three years and plan to continue drilling in early-summer 2020, we have
steadily continued to advance our Lappvattnet nickel project. We have completed 3-D modelling and
geophysics, and now we are having a closer look at potential value -added precious metals . Today’s
results support drill data from 2007 and demonstrate high-grade PGE contents. We have completed
further sampling of core from an additional fifteen holes drilled in the mid-1970’s which have no record
of being assayed for PGE’s. Assays are pending.”
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
Gungnir Re-Sampling Results
LAP07-001 32.55 34.94 2.39 1.54 0.10 0.01 0.04 0.05
LAP07-002 # 76.43 76.54 0.11 1.77 0.20 0.01 0.12 0.07
77.10 77.33 0.23 4.99 0.33 0.03 0.25 0.05
79.55 81.00 1.45 1.41 16.51 12.28 4.09 0.14
includes 79.55 80.00 0.45 2.13 50.91 39.00 11.80 0.11
LAP07-004 94.00 98.00 4.00 1.23 0.17 0.03 0.03 0.11
101.00 102.00 1.00 1.05 0.31 0.14 0.03 0.14
105.00 106.00 1.00 1.21 0.46 0.06 0.16 0.24
2007 Results
LAP07-001 32.55 34.94 2.39 1.36 0.11 0.02 0.04 0.05
LAP07-002 76.43 81.40 4.97 3.20 4.29 2.70 1.40 0.19
includes 79.00 80.00 1.00 3.13 14.71 9.04 5.37 0.30
LAP07-004 94.00 98.00 4.00 1.24 0.19 0.03 0.03 0.13
101.00 102.00 1.00 0.96 0.20 0.01 0.03 0.16
105.00 106.00 1.00 1.42 0.46 0.24 0.07 0.15
News Release GUG: TSX-V
ASWRF: OTCPK
* PGE's g/t = platinum (Pt) + palladium (Pd) + gold (Au)
# drill hole has several sections with insufficient core for sampling
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/
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 and Pt, Pd, and Au were analyzed using fire
assay method PGM-ICP27. Sample lengths reported in the above table are core lengths.
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 Prov ider (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 the meaning of Canadian securities laws. In certain
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ASWRF: OTCPK
cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "is
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"could", "would", "might" or "will be taken", "occur" or "be achieved", or the negative of these words or
comparable terminology. By their very nature forward -looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual performance of the Company to be
materially diff erent from any anticipated performance 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 future 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 variety 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
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 sufficient
capital to complete all of its exploration programs as anticipated. Accordingly, undue reliance should not
be placed on forward -looking statements or information. Gung nir does not expect to update forward -
looking statements or information continually as conditions change, except as may be required by
securities law.