- Gungnir Resources Inc. (GUG) has provided an update on its drilling program at the high-grade nickel Lappvattnet Project in Sweden
- Drilling began during the first week of May, and eight holes totalling over 1,130 metres have been completed
- Drill core samples from six holes have been are being analyzed
- 223 samples will then be sent to Ireland for analysis with results due later this summer
- Gungnir Resources Inc. (GUG) is up 14.29 per cent and is trading at $0.12 per share as of 1:18 p.m. EST
Gungnir Resources (GUG) has provided an update on its drilling program at the high-grade nickel Lappvattnet Project in Sweden.
The company began drilling at the project in May and has completed eight holes totalling over 1,130 metres.
Gungnir’s current drilling is targeting areas below and down-plunge of its 2021 drill program which produced several hits of high-grade and wide grade nickel mineralization.
So far two shipments of drill core from six of those holes have been sent off for cutting and assay preparation. A total of 223 samples will then be sent to Ireland for analysis and results are expected late July or early August.
Back in 2020, the company updated its resources for the Lappvattnet and Rormyrberget deposits which collectively total 177 million pounds of nickel.
The properties are accessible year-round with good transportation and industrial infrastructure including shipping facilities. The deposits were discovered in the 1970’s and saw extensive surveying, drilling metallurgical test work and the development of an exploration shaft.
The Lappvattnet and Rormyrberget deposits both have geological similarities to other documented nickel-copper mines. The Lappvattnet is largely a massive sulphide body that dips steeply to the south and plunges shallowly eastward. Mineralization at Rormyrberget consists of both massive sulphide and wider disseminated zones.
Gungnir Resources Inc. (GUG) is up 14.29 per cent and is trading at $0.12 per share as of 1:18 p.m. EST.
