4.04%
Table of individual, consecutive assays for the 5.76 metre high-grade nickel interval in hole LAP22-25 (70.0 to 75.76 metres):
From (m) | To (m) | Length (m) | Ni % |
70.00 | 70.51 | 0.51 | 4.93 |
70.51 | 71.20 | 0.69 | 3.73 |
71.20 | 72.00 | 0.80 | 2.87 |
72.00 | 72.86 | 0.86 | 3.17 |
72.86 | 73.20 | 0.34 | 7.18 |
73.20 | 73.68 | 0.48 | 3.14 |
73.68 | 73.86 | 0.18 | 5.17 |
73.86 | 74.28 | 0.42 | 1.13 |
74.28 | 74.91 | 0.63 | 5.52 |
74.91 | 75.14 | 0.23 | 5.94 |
75.14 | 75.52 | 0.38 | 4.15 |
75.52 | 75.76 | 0.24 | 5.70 |
"Another impressive nickel intercept for Gungnir at Lappvattnet, this time the highest-grade nickel interval drilled to date. All of our hits are less than 100 metres below surface and cover a strike length of 400 metres in the western and central parts of the Lappvattnet deposit. Looking ahead, our plan is to continue defining this high-grade nickel deposit, and the new footwall target, further to the east and at depth where it has been only sparsely drilled in the past," commented
Hole LAP22-25 was drilled in the central part of the Lappvattnet nickel resource on section 14E splitting a 50-metre gap between historic holes LAP74292 and LAP76008. The hole appears to have drilled into a thickened mineralized zone, possibly a fold hinge similar to LAP22-19 drilled on section 16E (80 metres to the east) which cut 2.35% Ni over 9.0 metres including 3.02% Ni over 5.66 metres starting at a down-hole depth of 66.0 metres (see news release dated
Notable, previously reported near-surface, high-grade nickel intersections drilled by Gungnir at Lappvattnet include: 3.19% Nickel over 4.25 metres within a 10.4-metre interval grading 1.51% Nickel in hole LAP21-02 (240 metres west of LAP22-25); 2.62% Nickel over 5.65 metres within a 14.0-metre interval grading 1.40% Nickel in hole LAP21-05 (200 metres west of LAP22-25); and 1.74% Nickel over 10.00 metres in hole LAP21-13 (260 metres west of LAP22-25).
See news releases dated
Further results from holes drilled in the central part of Lappvattnet (12 drill holes) are expected to be reported in January and into early
Lengths noted are core length; true width has not been determined as structural interpretations are on-going. Core was logged and tagged for sampling at the Company's logging facility in Lycksele,
Nickel Resources
Gungnir's nickel sulphide resources in
- Lappvattnet: Inferred Resource of 780,000 tonnes grading 1.35% nickel for 23.1 million lbs (10.5 million kg) of nickel.
- Rormyrberget: Inferred Resource of 36,800,000 tonnes grading 0.19% nickel for 154 million lbs (70 million kg) of nickel.
The NI 43-101 Technical Report entitled "TECHNICAL REPORT on the LAPPVATTNET and RORMYRBERGET DEPOSITS,
The technical information in this news release has been prepared, verified and approved by
About
On behalf of the Board,
For further information contact:
Head Office/Investor Relations
Phone: +1-604-683-0484
Email: jpaakki@eastlink.ca
Email: robbinscr@shaw.ca
Neither the
Forward-Looking Information
Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: plans to continue defining certain parts of the Lappvattnet deposit and the timing thereof; the possible structure of any mineralized zones; the receipt of assay results and timing of reports relating to same; and plans for advancement of its properties and the timing thereof.
Forward-looking information is based on a number of key expectations and assumptions made by Gungnir, including, without limitation: expectations of expanding and defining the existing resources are reasonable and possible; Gungnir will be able to receive and report assay results as expected; access to the resource will remain available; transportation and infrastructure will remain available as anticipated; the COVID-19 pandemic impact on the Canadian and global economy and Gungnir's business, and the extent and duration of such impact; no change to laws or regulations that negatively affect Gungnir's business; there will be a demand for Gungnir's services and products in the future; Gungnir will be able to operate its business as planned; Gungnir will be able to access capital markets on and successfully complete financings on terms it determines to be reasonable; and Gungnir's plans for future exploration and development of its properties is reasonable and will be possible within the anticipated timelines. Although the forward-looking information contained in this news release is based upon what Gungnir believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: expectations related to upgrading and expanding existing resources may not be accurate in part or at all; no certainty that any economically viable mineral deposit will be located on Gungnir's properties; that Gungnir may not be able to complete its planned drilling as anticipated; the impacts of the COVID-19 pandemic; the impacts of war and/or other international conflicts; ability to access capital markets and complete successful financings on terms Gungnir determines to be reasonable; environmental matters; changes in legislation or regulations; receipt of required licenses, permits and approvals; and resource estimates may not be accurate and may differ significantly from actual mineral resources. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. The forward-looking information contained this news release is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Gungnir. The forward-looking information is stated as of the date of this news release and Gungnir assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
SOURCE:
View source version on accesswire.com:
https://www.accesswire.com/733879/404-Nickel-Over-576-Metres-for-Gungnir-at-Lappvattnet-Highest-Grade-Nickel-Intercept-Drilled-to-Date
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