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Gungnir Resources Inc.
Summary
| Project: | Knaften | |
|---|---|---|
| Deposit: | Rodingtrask | |
| Location: | Sweden | |
| Commodities: | Gold-Zinc-Nickel-Copper-Silver | |
| Date: | 11/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-11-2018: Gungnir Resources Inc. announces an Exploration/Drilling Update report for its Rodingtrask deposit at the Knaften project. Drilling results incl. 28.50m @ 0.44% ZnEq from 109.5m. Surrey BC – November 14, 2018 - Gungnir Resources Inc. (GUG: TSX | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jari Paaki (Internal) | |
| ABSTRACT: | Surrey BC – November 14, 2018 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) reports on final results of the 2018 drill program at its Rodingtrask volcanogenic massive sulphide (VMS) target on the Knaften project in northern Sweden. The Company has also posted a new, updated corporate presentation highlighting back-to-back target discoveries by Gungnir in 2017 and 2018, and up-graded potential at Knaften; see “Gungnir Presentation Q4 2018”. Jari Paakki Gungnir’s CEO commented, “At Rodingtrask, final drill results received continue to demonstrate that we have encountered a large hydrothermal VMS system. With the right characteristics for deposit discovery, additional drilling is clearly warranted on this brand-new target. We are in the halo (or edge) of this mineralized system, and the goal now is to get into the core of it to test for higher grade massive sulphides.” “We have had successful drill programs with back-to-back new discoveries in 2017 and 2018 at Knaften, and in fact, these were the Company’s first two drill programs it has conducted Sweden. The new discovery targets (Rodingtrask VMS and a Cu-Ni target) add significant up-side to previously gold-only Knaften project, and now we have multiple opportunities at deposit discovery by way of multiple targets and metals. All three targets on Knaften are wide-open for expansion and further discovery”, continued Mr. Paakki. Long core intervals of base metal-enrichment were received in the final holes at the Rodingtrask target. Results show strongly elevated VMS metals (> 500 ppm Zn + Cu) in 70% of drill core sampled (as reference, this compares to less than 15% of samples showing these levels in the Company’s prospecting programs in the Knaften region). The strongest sulphide mineralization occurs with silicified rock below a prominent marker “exhalite” horizon at the base of the host argillaceous conglomerate (“conglomerate”). Anomalous gold was returned in strongly altered mafic volcanics near the end of hole KN18-10. | |
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