Gungnir Resources Inc. announces that the company has received all required permits for its planned 2018 drill program on its Knaften project. Drilling is expected to commence in the second quarter of 2018.
The Company’s focus will be primarily targeting gold mineralization at its Knaften project with up to 4,000 metres of diamond drilling planned to expand the Knaften 300 Gold Zone (or “Knaften 300”) and to test multiple new targets for potential high-grade gold and additionally copper-nickel mineralization. The Company’s planned work program at Knaften is expected to consist of approximately 20 diamond drill holes testing six target areas over a strike length of more than 8 km.
The Knaften 300 Gold Zone consists of over 50 previously drilled holes with gold mineralization covering an area measuring 400 x 500 metres at an average depth of approximately 75 m below surface. Knaften 300 appears to be a shallow-dipping zone(s) and includes several thick, promising gold intersections including 3.45 g/t Au over 10.75 m, 3.20 g/t Au over 10.0 m, and 3.11 g/t Au over 8.0 m. In 2017 Gungnir confirmed near-surface gold mineralization with its own drilling and re-sampling of available archived core. Results include 2.92 g/t Au over 13 m starting at a down-hole depth of 81.5 m. Previous drilling includes intervals of up to 23.4 g/t Au in individual assays which demonstrates that the mineralizing system is capable of producing higher-grade gold.
Gungnir is also planning a first-phase prospecting program on its newly staked Norrbotten group of claims with a particular focus on locating the source of several polymetallic boulders including high-grade nickel (3.5% Ni) and cobalt (1.76% Co). Ground geophysical surveys will be considered for later in the year at Norrbotten. At the Lappvattnet and Rormyrberget nickel-copper-cobalt deposits, the Company plans to review archived drill core and is currently in the process of evaluating newly built 3-D models with the goal of identifying future drill targets that could expand the limits of known historic resources.