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Gungnir Resources Inc. reports exploration and corporate developments for its mineral projects in northern Sweden. The Canadian junior mineral exploration company holds gold and base-metal projects in the Västerbotten District, including the Knaften-Hemberget project along the Swedish Gold Line and the Lappvattnet and Rormyrberget nickel-copper-cobalt deposits.
Recurring news for Gungnir Resources covers exploration permits, field work, surface sampling, target generation, mineral-resource and project-status updates, and Swedish property designations. Company updates also include annual meeting results, board and management changes, and other governance matters tied to its TSX Venture and OTC-traded public-company status.
Gungnir Resources (OTC PINK: ASWRF) announced the discovery of a significant Induced Polarization (IP) anomaly at its Knaften gold project in Sweden, measuring approximately 1,200 by 700 meters. Located near the Knaften 300 Gold Zone, previous drilling in the area revealed high-grade gold intersections, including 59.6 g/t Au over 1.00 meter. The company aims to expand exploration activities, including additional IP coverage and ongoing drilling at Knaften 300 and its Lappvattnet nickel-copper project. A detailed report on the IP survey is awaited from Geovista AB.
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Gungnir Resources Inc. (ASWRF) announced that diamond drilling in Sweden will begin during the week of May 24, 2021, focusing on its Knaften gold target. All permits have been secured for this phase, which will test the Knaften 300 Gold Zone, known for high-grade gold intersections. The company also plans up to 50 line-kilometres of IP geophysics to explore new targets. Additionally, drilling will target nickel-copper-cobalt-PGE projects in the region, with a total of approximately 2,500 metres planned.
Gungnir Resources Inc. (OTC PINK: ASWRF) has announced upcoming drilling and geophysical work at its gold and nickel-copper-cobalt-PGE projects in northern Sweden, slated to begin in Q2 2021. Key initiatives include testing extensions of the high-grade Knaften 300 Gold Zone and conducting Induced Polarization (IP) geophysics to identify new targets. The Knaften gold target is significant due to its association with large gold-in-till anomalies in the region. The company reported an inferred resource of 177 million pounds of nickel across its Lappvattnet and Rormyrberget projects.
Gungnir Resources Inc. has clarified that the resources mentioned in its recent press release are not covered by a current N.I. 43-101 report, thus should not be relied upon. The company plans to file a N.I. 43-101 Technical Report supporting its mineral resource estimates within 45 days. Gungnir is engaged in mineral exploration in northern Sweden, with projects that include gold and base metal permits. Investors are cautioned about the risks associated with forward-looking statements regarding resource expansion and operational plans.
Gungnir Resources reported significant updates to its mineral resources for the Rormyrberget and Lappvattnet nickel sulphide deposits in Sweden. The Rormyrberget deposit now has 36.8 million tonnes at 0.19% nickel, totaling 154 million lbs of nickel, while the Lappvattnet deposit has 780,000 tonnes at 1.35% nickel, amounting to 23.1 million lbs. The company plans to expand drilling efforts in 2021, aiming to enhance nickel grades and explore the potential for platinum group elements (PGEs). A technical report will be filed within 45 days.
Gungnir Resources has completed the second tranche of its private placement, raising $600,000 by selling a total of 10 million units at $0.06 each. Each unit consists of one common share and one warrant, allowing the purchase of additional shares at $0.09 for 36 months. The funds will support ongoing exploration at its Swedish projects, including the Knaften Gold zone and nickel resources. The offering includes a cash commission and finder units for participating brokers. All securities are subject to a hold period.
Gungnir Resources Inc. (OTC PINK: ASWRF) announced an upsized non-brokered private placement offering due to interest from a European institutional investor, raising a total of $600,000. The offering comprises units priced at $0.06, each with a common share and a warrant to purchase additional shares at $0.09. The first tranche has closed with $400,000 raised from Palisades Goldcorp Ltd. Proceeds will fund exploration at Gungnir's Swedish projects. The offering is subject to TSX Venture Exchange approval and expected to close around September 30, 2020.
Gungnir Resources Inc. (OTC PINK: ASWRF) has entered into a non-brokered private placement agreement with Palisades Goldcorp Ltd. for 6,666,667 units at $0.06 each, raising $400,000. Each unit comprises one common share and a warrant exercisable at $0.09 for 36 months. Proceeds will fund exploration at the Knaften Gold zone and nickel projects Rormyrberget and Lappvattnet, which collectively hold over 70 million pounds of nickel. The offering is subject to regulatory approval and expected to close around September 30, 2020.