Announcement Date: 2022-12-05
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Gungnir Resources Inc.
Project name: Lappvattnet
Location: Sweden
Commodities: Nickel
Highlight: Drilling results incl. 7.0m at 1.16% Ni from 98m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Surrey, BC – December 1, 2022 – Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to report further, near-surface drill results and visuals at the Company’s Lappvattnet nickel deposit in northern Sweden. Highlighted holes include LAP22-10 which cut 7.0 metres of 1.16% Ni and LAP22-19 which intersected a new footwall nickel target approximately 75 metres below the main Lappvattnet deposit. Assays are pending for thirteen holes. Please click link for property map, cross-section and core photos (link to figures). “It looks like we may have the beginnings of a new footwall nickel target in the central part of the deposit, adding further potential at Lappvattnet. Historic holes in this area from the 1970s appear to have been drilled just short of this new target. So far, with longer drill holes, we have six footwall hits over a strike length of approximately 100 metres in the central part of Lappvattnet where it remains mostly open along strike and at depth. Assays are pending for five of these six holes”, commented Jari Paakki, CEO. The new footwall target was encountered in holes LAP22-16, -17, -19, -26, -27, and -28 drilled on sections 15E to 16.5E (see accompanying map). The intercepts range from core lengths of 2 to 15 metres consisting of variably mineralized peridotite, local sulphide pods and disseminated sulphides in enclosing sedimentary gneisses. Assays from the lower
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