Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (TSX-V: GUG; OTCPK: ASWRF) focused on discovery in mineral-rich Sweden. The Company holds gold and base metal exploration permits in Sweden’s prolific Vasterbotten District which hosts 12 million ounces of gold delineated in existing and mined resources plus several past-producing and producing volcanogenic massive sulphide (VMS) base metal mines.
The Company’s key focus is the Knaften project located at the south end of the “Gold Line” (Knaften-Barsele Arc) which hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and the Barsele Gold-VMS project (Agnico Eagle).
Successful drill programs in 2017 and 2018 at Knaften resulted in back-to-back new base metal target discoveries; the Rodingtrask VMS and a Cu-Ni target located only 400 metres to the east. These new targets add significant up-side to the previously gold-only Knaften project (Knaften 300), and now the Company has numerous opportunities at deposit discovery by way of multiple targets and metals. All three targets on Knaften are wide-open for expansion and further discovery.
Gungnir additionally holds an advance royalty from the sale of a gold project in BC, Canada in 2014. The Company has received $3M so far from the project sale. $3M is still due to the Company in annual $1M payments; the next $1M payment is due on April 30, 2019.
The Company also holds permits covering two nickel deposits, Lappvattnet and Rormyrberget, which collectively host 70 million pounds of nickel in historical resources, and the recently staked Norrbotten gold and base metal permits in the Norrbotten District of Sweden.
Gungnir Resources was the result of re-branding in 2014 through various business transactions, and now is fully focused on exploration and discovery in Sweden. Gungnir has a sound management team and board with extensive experience and proven success in mineral exploration, mining and financing, and importantly, expertise in Sweden.
Why Sweden? Sweden is the leading mining nation in Europe and continues to receive high institute rankings as one of the top countries in the world for exploration and mining. Mining is a traditional industry in Sweden which extends back over a thousand years. Sweden covers part of the Fennoscandian shield, a mineral rich but highly underexplored region. Sweden continues to offer excellent ore discovery potential, in particular under glacial till (sand and gravel) which covers large areas of Sweden.
Note: A qualified person for Gungnir Resources has not done sufficient work to classify the historical estimates as current resources and Gungnir is not treating the historical estimates as current mineral resources.