Gungnir Resources Inc presented its plans in Sweden for 2022 with nickel as a key driver and provided exploration highlights from 2021.

In a statement, Jari Paakki, CEO of Gungnir, commented: “Our plan for 2022 is to build on Gungnir’s 2021 high-grade nickel results, which were among the best nickel drill intercepts near the surfaces reported in the junior sector last year.

“We plan to allocate more than three-quarters of our available exploration funds to nickel, with most planned drilling directed at our Lappvattnet nickel project targeting other high-grade nickel shoots. We also have a new target impressive gold mine at Knaften which we plan to test drill with a few holes.”

READ: Gungnir identifies twin conductor at Sweden’s Lappvattnet nickel project

Exploration program planned for 2022:

• 75% or more of nickel exploration funds available with up to 4,000 meters of drilling planned
• The company intends to fund its exploration activities with financings in 2022, the details of which would be announced in a separate press release.
• Expected start in late spring if conditions allow
• At Lappvattnet, drilling expanded to test further high-grade nickel shoots along strike, plunge and dip of 2021 drill holes, plus “twin” EM North Conductor
• At Knaften Gold, initial testing of new IP anomalies (the area has not been explored previously); drilling permits and approvals pending
• At Rormyrberget, assess and prioritize targets; timing of drilling to be determined

2021 Project Highlights:

Lappvattnet Nickel:

• The phase one drilling program only covered 20% of the total length of Lappvattnet
• Shallow consistent drilling in broad, high-grade zones of nickel mineralization, including:
• 3.19% Nickel over 4.25 meters in an interval of 10.4 meters grading 1.51% Nickel in hole LAP21-02 (from 45 meters)
• 2.62% Nickel over 5.65 meters in an interval of 14.0 meters grading 1.40% Nickel in hole LAP21-05 (from 60 meters)
• 1.74% Nickel over 10.00 meters in borehole LAP21-13 (from 21 meters)
• 36.00 meters grading 0.93% Nickel in hole LAP21-04 (from 49 meters)
• Describes an untested “twin” electromagnetic (EM) conductor near the surface 100 meters north of the Lappvattnet nickel resource

Knaften Gold:

• Target: bedrock source of one of the largest till gold anomalies in Sweden
• Expansion of the property to cover all favorable host rock, a 4 km x 5 km intrusion
• Completed Induced Polarization (IP) geophysical survey over parts of the wider area which revealed very large IP chargeability anomalies (up to 40 mV/V) in the intrusion
• Rormyrberget Nickel: Untested EM targets described outside the nickel resource

Gungnir also said its nickel sulphide resources in Sweden include Lappvattnet and Rormyrberget. In 2020, the company unearthed the two resources which collectively total 177 million pounds of nickel. The properties are accessible all year round with good transport and industrial infrastructure, including shipping facilities, and are located approximately an hour’s drive from the Boliden factory complex.

• Lappvattnet: Inferred resource of 780,000 tonnes grading 1.35% nickel for 23.1 million pounds (10.5 million kg) of nickel
• Rormyrberget: Inferred resource of 36,800,000 tonnes grading 0.19% nickel for 154 million pounds (70 million kg) of nickel

Gungnir Resources is a Canadian mining exploration company listed on the TSX Venture Exchange with gold and base metal projects in northern Sweden. The Company’s assets include two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, both with updated nickel resources, and the Knaften Project which hosts a developing intrusion-hosted gold system, and VMS targets (zinc-copper) and copper-nickel, all of which are open to expansion and discovery.

Contact the author at [email protected]