VANCOUVER, Nov. 13, 2014 /PRNewswire/ - Gungnir
Resources Inc. (GUG: TSX-V) ("Gungnir" or the "Company") reports
that it has acquired an existing airborne survey and identified
geophysical anomalies coincident with gold and massive sulphide
targets on its Knaften property in northern Sweden. See attached figures.
Highlights include:
- A 1.5 km long magnetic high coincident with Gungnir's newly
discovered cluster of gold-arsenic boulders including assays up to
8.52 g/t Au. The mineralized boulders contain abundant disseminated
pyrrhotite (magnetic Fe-sulphide) and thus a good match with this
magnetic trend.
- A discrete 500 x 500 metre magnetic high showing excellent
correlation with exposed massive sulphides (massive pyrrhotite with
pyrite and elevated VMS base metals). The showing also occurs along
the edge of a VLF-EM conductor measuring approximately 800 metres
in length.
The data was purchased from the Swedish Geological Survey then
re-processed and re-imaged to incorporate the Company's new
prospecting results into a geophysical framework. It includes
magnetics and electromagnetics (VLF-EM) data which was extracted
from a regional airborne survey (200 metre spaced flight lines)
completed in the 1980's. Results presented are for a 20 sq. km area
covering the undrilled gold and massive sulphide showing area
reported earlier (see GUG news release dated October 28, 2014). The complete survey over the
entire 60 sq. km property, which includes several other anomalies
to be investigated, will be posted on the Company's website.
Jari Paakki, CEO of Gungnir
commented "as bedrock on the property is largely covered with a
layer of glacial till, geophysics will play an important role in
outlining targets. Re-processed results from this survey indicate
potentially sizeable exploration targets based on magnetics data
which provides a solid first-pass targeting tool. A new modern
high-resolution EM survey will be needed to verify and pin-point
potential base metal massive sulphide conductors. A local Induced
Polarization (IP) geophysics grid will be highly beneficial and a
cost-effective technique to prioritize initial drill targets for
gold."
The technical information in this news release has been prepared
and approved by Jari Paakki, P.
Geo., CEO and a director of the Company. Mr. Paakki is a
Qualified Person under National Instrument 43-101.
About Gungnir Resources:
Gungnir Resources Inc. is a
Canadian-based TSX-V listed mineral exploration company (V-GUG)
focused on discovery of meaningful mineral deposits in favorable
geo-political jurisdictions. The Company is currently working to
advance its newly acquired gold and base metal exploration projects
in northern Sweden. Northern Sweden is Europe's most mineralized region yet remains
highly under explored and offers excellent potential for new
discoveries particularly under extensive but thin layer of glacial
till that masks bedrock over large portions of Sweden. Sweden has excellent infrastructure and most
areas offer year round access and cost-efficient exploration.
Further information about the Company and its properties may be
found at www.gungnirresources.com or at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts 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. Such forward-looking statements or information include, but
are not limited to, statements or information with respect to
Gungnir Resources' plan for future 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 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.
SOURCE Gungnir Resources Inc.