Gungnir Resources Inc., listed on TSX Venture Exchange under the symbol GUG and on OTCPK as ASWRF, has issued an update on its ongoing exploration efforts in northern Sweden.
The company has initiated initial prospecting, mapping, and sampling activities this month at its 29.4 km2 Hemberget property. This property encompasses the northern segment of the Knaften structural dome, presenting promising prospects for both gold and base metals. Currently, four zones or occurrences have been identified on the dome’s western and southern sectors, with three of them discovered by Gungnir.
The surface work is a strategic move aimed at expanding exploration coverage across the company’s Swedish portfolio. This effort is designed to potentially identify new targets while concurrently evaluating options for its nickel resources, including the high-grade nickel project at Lappvattnet. Gungnir plans to prioritize all its targets and projects and outline strategic pathways forward.
Initial activities at Hemberget have included reconnaissance mapping and the collection of thirty-three samples for subsequent geochemical analyses. Results from these mapping and analytical processes are currently pending.
Gungnir Resources holds a diverse range of projects in northern Sweden, focusing on gold and base metals. The company’s asset portfolio includes two significant nickel-copper-cobalt deposits: Lappvattnet and Rormyrberget, both of which have updated nickel resources. Additionally, the Knaften-Hemberget project features an emerging intrusion-hosted gold system, VMS-style mineralization, copper-nickel targets, and disseminated felsic volcanic breccia-hosted gold boulders, all of which remain open for further expansion and potential new discoveries.