GUNGNIR RESOURCES INC

GUG: TSX.V - ASWRF: OTCPK

Serious Investors Only

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company with gold and base metal exploration in northern Sweden within a region hosting 12 million ounces of gold delineated in existing and mined resources, plus several past-producing and producing base metal mines.

The Company's key gold project, Knaften, is situated at the southern extension of the "Gold Line" which hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele (Agnico Eagle and Barsele Minerals).

The Company also has permits covering two nickel deposits in Sweden, Lappvattnet and Rormyrberget which collectively host 70 million pounds of nickel in historical resources (see NR dated February 24, 2015), and newly staked Norrbotten gold and base metal permits in the Norrbotten District.  Gungnir additionally holds a $5,000,000 royalty stream and received the first annual payment of $1,000,000 on May 2, 2017. The next annual payment of $1,000,000 is due on April 30, 2018. Further information about the Company and its properties may be found at www.gungnirresources.com or at  www.sedar.com



Company Presentation  Company Website  Management  Knaften Project   Lappvattnet Project  Norrbotten Project

 

Gungnir Receives Second $1,000,000 Advance Royalty Payment

VANCOUVER, B.C. / ACCESSWIRE / May 30, 2018 / Gungnir Resources Inc. (TSX-V: GUG, OTC PINK: ASWRF) ("Gungnir" or the "Company") is pleased to announce that it has received the second of five, $1,000,000 annual advance royalty payments. The first annual payment of $1,000,000 was received May 1, 2017. The next (third) $1,000,000 payment is due on or before April 30, 2019.

Drilling in Sweden on the Company's Knaften property is expected to commence on June 4, 2018. Initial drill-testing will focus on areas in the south-half of the property including near-surface gold mineralization at the Knaften 300 Gold Zone. For target areas, please refer to the Company's Corporate presentation on Gungnir's website: www.gungnirresources.com.

About Gungnir Resources

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (TSX-V: GUG) with gold and base metal permits in northern Sweden within a region hosting 12 million ounces of gold delineated in existing and mined resources plus several past-producing and producing base metal mines. The Company's key gold project, Knaften, is situated at the southern extension of the “Gold Line” which hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele (Agnico Eagle and Barsele Minerals). The Company holds a royalty stream from the sale of the Kenville Gold Project in BC with $3,000,000 still due in three further annual advance cash payments of $1,000,000 each. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.

On behalf of the Board, Jari Paakki, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved", or the negative of these words or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual performance of the Company to be materially different from any anticipated performance expressed or implied by the forward-looking statements. Such forward-looking statements or information include, but are not limited to, statements or information with respect to the payment of any advance royalty payments, Gungnir Resources' plan for future funding, and exploration and development of its properties. Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. For example, there is no certainty, that any economically viable mineral deposit will be located on the properties, or that the Company will receive or be able to raise sufficient capital to complete all of its exploration programs. Accordingly, undue reliance should not be placed on forward-looking statements or information. Gungnir does not expect to update forward-looking statements or information continually as conditions change, except as may be required by securities law.

 

 

 

 

Gungnir Receives $100,000 for Granting One-Month Extension on Second Advance Royalty Payment

Gungnir Receives $100,000 for Granting One-Month Extension on Second Advance Royalty Payment

Vancouver, British Columbia (FSCwire) - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) reports that 0995237 B.C. Ltd. (“0995237”) has requested an extension of time to make its second advance royalty payment of $1,000,000 due to the Company. The Company has granted a one-month extension in exchange for a non-refundable payment of $100,000 (received). The second advance royalty payment of $1,000,000 is now due in full on or before May 30, 2018.

 

The advance royalty payments come from the sale of the Kenville Gold Mine project (“Kenville”) located in southeastern British Columbia to private company, 0995237 on April 30th, 2014. The Company sold Kenville as it changed its focus from pursuing mining efforts to a fully engaged exploration company focused in Sweden. Total consideration for the sale of Kenville was $5,900,000 which was partially satisfied by the delivery $900,000 on closing, with the remaining $5,000,000 to be satisfied by five (5) advance royalty payments of $1,000,000 each.  The payment of the remaining $5,000,000 is secured by a Royalty Agreement registered on title to Kenville and a Specific Security Agreement registered under the Personal Property Registry, British Columbia. The Company received the first advance royalty payment of $1,000,000 in 2017.

 

About Gungnir Resources

 

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with gold and base metal permits in northern Sweden within a region hosting 12 million ounces of gold delineated in existing and mined resources plus several past-producing and producing base metal mines. The Company’s key gold project, Knaften, is situated at the southern extension of the “Gold Line” which hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele (Agnico Eagle and Barsele Minerals). The Company also has permits covering two nickel deposits in Sweden, Lappvattnet and Rormyrberget which collectively host 70 million pounds of nickel in historical resources (see NR dated February 24, 2015), and newly staked Norrbotten gold and base metal permits in the Norrbotten District. Gungnir additionally holds a $5,000,000 royalty stream and received the first annual payment of $1,000,000 on May 2, 2017. The next annual payment of $1,000,000 is due on or before May 30, 2018. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.

 

On behalf of the Board,

Jari Paakki, CEO and Director




Gungnir Receives Permits and Outlines Detailed Drill Plans for Sweden

VANCOUVER, BC / ACCESSWIRE / March 26, 2018 / Gungnir Resources Inc. (TSX-V: GUG, OTC PINK: ASWRF) ("Gungnir" or the "Company") is pleased to announce 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:

1. Test the Knaften 300 Gold Zone up-dip, along strike and at depth;
2. Test for grade and continuity of gold mineralization related to strong near-surface alteration and anomalous gold mineralization encountered in a historic drill hole. The target is located approximately 2.5 km southwest of the Knaften 300 Gold Zone;
3. Drill a magnetic anomaly near cluster of gold-bearing boulders (with associated magnetic iron-sulphides) discovered by Gungnir which includes boulders grading up to 8.52 g/t gold. The target is located 3.5 km northwest of Knaften 300;
4. Test below outcropping anomalous gold mineralization 5 km northwest of Knaften 300;
5. With wide-spaced holes, test the northwest trending regional magnetics break extending from the Knaften 300 Gold Zone; and
6. Drill new untested electromagnetic (EM) conductors in the area of Gungnir's 2017 drill discovery of gabbro-hosted copper-nickel bearing sulphides in the central part of the property.

Please refer to slide #14 for a map of the target areas in an updated Corporate presentation on Gungnir's website: www.gungnirresources.com.

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.

Funding for exploration work will come from the second of five annual $1M advance royalty payments due to the Company and other financing opportunities as they may arise.

Mr. Jari Paakki, M.Sc., P.Geo., is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Paakki prepared the technical information contained in this news release and has approved its disclosure.

About Gungnir Resources

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with gold and base metal permits in northern Sweden within a region hosting 12 million ounces of gold delineated in existing and mined resources plus several past-producing and producing base metal mines. The Company's key gold project, Knaften, is situated at the southern extension of the "Gold Line" which hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele (Agnico Eagle and Barsele Minerals). The Company also has permits covering two nickel deposits in Sweden, Lappvattnet and Rormyrberget which collectively host 70 million pounds of nickel in historical resources (see NR dated February 24, 2015), and newly staked Norrbotten gold and base metal permits in the Norrbotten District. Gungnir additionally holds a $5,000,000 royalty stream and received the first annual payment of $1,000,000 on May 2, 2017. The next annual payment of $1,000,000 is due on April 30, 2018. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.

On behalf of the Board,






Gungnir Submits Application to Expand Norrbotten; Adds High-Grade Nickel (3.5%), Cobalt (1.76%)

Feb 8 2018 - Vancouver, British Columbia (FSCwire) - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to announce that it has submitted an application to add a new exploration permit at Norrbotten in northern Sweden to cover impressive nickel-cobalt and additional copper mineralized boulders/blocks.

 

The permit application (10.34 sq. km) covers previously assayed mineralization including 3.5% Ni, 1.76% Co, 1.2 g/t Au and 2.42% Cu, 1.6 g/t Au, 16 g/t Ag. This new permit adjoins one of our existing Norrbotten project permits and now combined covers nearly a dozen boulders/blocks with significant copper, gold, silver, nickel and cobalt values located along the edge of a 10 km-long magnetics trend. The newly expanded Norrbotten group of claims will total over 35 sq. km.

 

“The high-grade cobalt is a very interesting occurrence and we are looking forward to prospecting work this spring with the goal of locating the potential source area. Gungnir is an established gold explorer in Sweden, but with cobalt prices hitting multi-year highs and nickel price rallying due to the expected surge in electric vehicle production, Gungnir’s additional base metal assets should start receiving some market attention. The Company hold three notable 'battery metal' assets and targets, all in Sweden and 100% staked; they include: (1) historic nickel-copper-cobalt resources already in the ground at Lappvattnet and Rormyrberget (70M lbs of Ni, 10M lbs of Cu and 2.4M lbs of Co); (2) new copper-nickel sulphide discovery at Knaften; and now (3) a high-grade nickel-cobalt prospect at Norrbotten,” commented Jari Paakki, CEO of Gungnir.

 

“At Knaften, our key gold project, we have drill indicated near-surface gold mineralization (Knaften 300 Gold Zone) and new untested drill targets over a strike length of 10 km. The property sits immediately up-ice of a huge gold-in-till anomaly (one of the largest in Sweden) which is likely only partially indicated in bedrock suggesting more promise at Knaften. We are planning for a busy and exciting 2018,” continued Mr. Paakki.

 

The permit application is subject to final approval by the Inspector of Mining in Sweden. Prospecting samples noted above are historic surface grab samples of boulders/blocks and may not be representative of mineralization hosted on the permits. Assays results are from the Swedish Geological Survey (SGU) data files, but the Company has not yet verified this data. Also, a qualified person for Gungnir has not done sufficient work to classify the historical estimates above as current resources and Gungnir is not treating the historical estimates as current mineral resources.

 

Mr. Jari Paakki, M.Sc., P.Geo., is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Paakki prepared the technical information contained in this news release and has approved its disclosure.

 

About Gungnir Resources

 

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with gold and base metal permits in northern Sweden within a region hosting 12 million ounces of gold delineated in existing and mined resources plus several past-producing and producing base metal mines. The Company’s key gold project, Knaften, is situated at the southern extension of the “Gold Line” which hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele (Agnico Eagle and Barsele Minerals). The Company also has permits covering two nickel deposits in Sweden, Lappvattnet and Rormyrberget which collectively host 70 million pounds of nickel in historical resources (see NR dated February 24, 2015), and newly staked Norrbotten gold and base metal permits in the Norrbotten District. Gungnir additionally holds a $5,000,000 royalty stream and received the first annual payment of $1,000,000 on May 2, 2017. The next annual payment of $1,000,000 is due on April 30, 2018. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.

 

 

About Miningnewsreporter.com : 

Miningnewsreporter.com  , a subsidiary of Target Publishing Inc, and is a leading publisher of todays market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthuXsiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.
A complete disclaimer can be viewed HERE