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Gungnir secures drilling permits for Knaften gold project in Sweden

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Gungnir secures drilling permits for Knaften gold project in Sweden

Gungnir Resources Inc. received all required permits for its planned drill program this year on its Knaften gold project in Sweden, and drilling is expected to start in the second quarter.

The program includes 4,000 meters of diamond drilling focused on expanding the Knaften 300 gold zone and testing multiple new targets for potential high-grade gold and copper-nickel mineralization.

The work program will consist of about 20 diamond drillholes testing six target areas over a strike length of more than 8 kilometers, according to a March 26 release.

Gungnir is also planning a first-phase prospecting program on its newly staked Norrbotten group of claims.

At the Lappvattnet and Rormyrberget nickel-copper-cobalt deposits, the company is evaluating newly built 3-D models to identify future drill targets that could expand the limits of known historical resources.

The company will fund exploration from the second of five annual C$1 million advance royalty payments and other financing opportunities.