ThSeeker
4 years ago
Gungnir Announces Closing of Second and Final Tranche of Private Placement
SURREY, BC / ACCESSWIRE / October 5, 2020 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to announce that it has completed the second and final tranche of its previously announced non-brokered private placement of 3,333,333 units of the Company ("Units") for a total of 10,000,000 Units sold under the offering priced at $0.06 per Unit (the "Unit Price"), for total gross proceeds of $600,000 (the "Offering"). Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share (each, a "Warrant Share") at a price per Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
The net proceeds of the Offering will be used to continue the exploration program, inclusive of drilling, at the Company's 100% owned projects in Sweden, concentrating on the Knaften Gold zone and our two nickel resources, Rormyrberget and Lappvattnet.
All securities issued under the Offering are subject to a hold period expiring four months and one day from the closing date of the Offering.
As consideration for the services of certain finders, the Company paid a cash commission of 8% of the gross proceeds of the Offering and that number of non-transferrable finder units (the "Finder Units") as is equal to 8% of the aggregate number of Units sold under the Offering. Each Finder Unit was priced at $0.06 and consisted of one Common Share and one common share purchase warrant (each, a "Finder Warrant"). Each Finder Warrant entitles the holder to acquire one Common Share (each, a "Finder Warrant Share") at a price per Finder Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and application state securities laws.
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. The Company's key project, Knaften, hosts high-grade gold, VMS (zinc-copper) and copper-nickel targets, and all are open for expansion and further discovery. The Company also holds two nickel-copper-cobalt deposits, Lappvattnet and Rormyrberget, located east of Knaften. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.
ThSeeker
4 years ago
Gungnir Announces Strategic Investment by Palisades Goldcorp
SURREY, BC / ACCESSWIRE / September 14, 2020 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to announce that it has entered into an agreement with Palisades Goldcorp Ltd. ("Palisades") pursuant to which Palisades has agreed to purchase a non-brokered private placement of 6,666,667 units of the Company (the "Units") at a price of $0.06 per Unit (the "Unit Price"), for total gross proceeds of $400,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share (each, a "Warrant Share") at a price per Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
The net proceeds of the Offering will be used to continue the exploration program, inclusive of drilling, at the Company's 100% owned projects in Sweden, concentrating on the Knaften Gold zone and our two nickel resources, Rormyrberget and Lappvattnet.
Knaften Gold Zone
Gold mineralization at Knaften 300 is associated with disseminated arsenopyrite zones ranging from about 2 to 20 metres wide, typically 5 metres (core lengths). Drilling highlights from Gungnir and previous operators include:
14.07 g/t Au over 4.25 m (from 138.75 to 143.00 m) in hole KN19-06
5.39 g/t Au over 2.00 m (from 98.00 to 100.00 m) in hole KN19-09
3.45 g/t Au over 10.75 m (from 67.05 to 77.80 m) in hole 96009
3.20 g/t Au over 10.00 m (from 83.50 to 93.50 m) in hole 200707
2.92 g/t Au over 13.00 m (from 81.5 to 94.50 m) in re-sample 200707
3.11 g/t Au over 8.00 m (from 135.80 to 143.80 m) in hole 200714
2.13 g/t Au over 14.45 m (from 55.00 to 69.45 m) in hole KNA01001
2.01 g/t Au over 6.70 m (from 190.50 to 197.20 m) in hole 200710
2.89 g/t Au over 5.00 m (from 118.80 to 123.80 m) in hole 200715
Rormyrberget and Lappvattnet Nickel Properties
The Company holds the Rormyrberget and Lappvattnet nickel deposits, located in the same general area of the Knaften property. The two deposits collectively contain over 70 million pounds of nickel, 10 million pounds of copper and two million pounds of cobalt in historic resources. At Lappvattnet, the historical estimate is 1,139,000 tonnes at 0.91 per cent Ni, 0.19 per cent Cu and 0.02 per cent Co for 22.9 million pounds of Ni, 4.8 million pounds of Cu and 500,000 pounds of Co.
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. The Company is currently updating the historical estimate.
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.
The Offering is expected to close on or about September 30, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange ("TSXV") and the applicable securities regulatory authorities. All securities to be issued under the Offering will be subject to a hold period expiring four months and one day from the closing date of the Offering.
As consideration for the services of certain finders, the Company will pay a cash commission of 8% of the gross proceeds of the Offering and that number of non-transferrable finder units (the "Finder Units") as is equal to 8% of the aggregate number of Units sold under the Offering. Each Finder Unit is priced at $0.06 and will consist of one Common Share and one common share purchase warrant (each, a "Finder Warrant"). Each Finder Warrant entitles the holder to acquire one Common Share (each, a "Finder Warrant Share") at a price per Finder Warrant Share of $0.09 per share for a period of 36 months from the closing of the Offering.
ThSeeker
4 years ago
Gungnir Expands Mineralization at Knaften 300 Gold Zone
SURREY, BC / ACCESSWIRE / August 7, 2020 / Gungnir Resources Inc. (TSXV:GUG)(OTCPK:ASWRF) ("Gungnir" or the "Company") is pleased to report that on-going drilling at the Knaften project in northern Sweden has significantly expanded mineralization at the Knaften 300 Gold Zone ("Knaften 300"). Multiple zones of disseminated arsenopyrite, the key indicator of gold mineralization on the property, were encountered. Mineralization now extends down-dip for a distance of more than 400 metres and remains completely open in all directions. Assays are pending. Please see attached cross-section and select photos (Figure 1).
Jari Paakki, Gungnir's CEO, "We are now seeing potentially four stacked zones of arsenopyrite at Knaften 300, all of which are interpreted to extend to the top of bedrock immediately below overburden. As such, we are considering an induced polarization (IP) geophysical test survey over the current drill area to evaluate its effectiveness to target further shallow mineralization along strike and elsewhere on the property more cost effectively."
Gold mineralization at Knaften 300 is associated with disseminated arsenopyrite zones ranging from about 2 to 20 metres wide, typically 5 metres (core lengths). Drilling highlights from Gungnir and previous operators include:
14.07 g/t Au over 4.25 m (from 138.75 to 143.00 m) in hole KN19-06
5.39 g/t Au over 2.00 m (from 98.00 to 100.00 m) in hole KN19-09
3.45 g/t Au over 10.75 m (from 67.05 to 77.80 m) in hole 96009
3.20 g/t Au over 10.00 m (from 83.50 to 93.50 m) in hole 200707
2.92 g/t Au over 13.00 m (from 81.5 to 94.50 m) in re-sample 200707
3.11 g/t Au over 8.00 m (from 135.80 to 143.80 m) in hole 200714
2.13 g/t Au over 14.45 m (from 55.00 to 69.45 m) in hole KNA01001
2.01 g/t Au over 6.70 m (from 190.50 to 197.20 m) in hole 200710
2.89 g/t Au over 5.00 m (from 118.80 to 123.80 m) in hole 200715
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.
ThSeeker
4 years ago
Gungnir Resources Featured in InvestmentPitch Media Video
SURREY, BC / ACCESSWIRE / July 31, 2020 / Gungnir Resources Inc. (TSX-V:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") is pleased to share a new "video" produced by InvestmentPitch Media highlighting the Company's key targets and on-going exploration work in Sweden.
The Company's main focus is its Knaften project where successful exploration by Gungnir has led to three new discoveries including high-grade gold, VMS and copper-nickel mineralization. All three targets on Knaften are wide-open for expansion and further discovery. Drilling, started in Mid June, is currently focused on expanding the Company's 2019 high-grade gold discovery of 59.60 g/t Au over 1.0 metre within a mineralized interval grading 14.07 g/t Au over 4.25 metres (see NR dated October 2, 2019).
Gungnir also holds permits covering two nickel deposits, Lappvattnet and Rormyrberget, east of Knaften. Highlight re-sampling results by the Company include 50.91 g/t PGE's (39.0 g/t platinum, 11.8 g/t palladium, 0.11 g/t gold) and 2.13% nickel over 0.45 metres at Lappvattnet (see NR dated March 30, 2020) and 2.33% nickel over 12.50 metres, including 3.00% nickel over 5.10 metres at Rormyrberget (see NR dated July 14, 2020). The next planned step is to update the historic estimates to current resources.
The Company's gold and base metal exploration permits are located in Sweden's 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 district continues to offer excellent ore discovery potential, in particular under glacial till which covers large areas of favourable geology. The Knaften area is of specific interest to Gungnir as it located immediately up-ice of one of the largest gold-in-till anomalies in Sweden which has yet to be fully sourced. This anomaly is one of three in the Vasterbotten District, the other two gold-in-till anomalies cover either gold mines or known gold resources.
ThSeeker
4 years ago
Gungnir Samples 12.50 metres of 2.33% Nickel in Sweden
SURREY, BC / ACCESSWIRE / July 14, 2020 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") reports final re-sampling results of archived drill core from the Company's two nickel deposits in northern Sweden. Results from the Rormyrberget nickel deposit include:
2.33% Nickel over 12.50 metres, including 3.00% Nickel over 5.10 metres
1.51% Nickel over 13.05 metres, including 3.01% Nickel over 3.85 metres
Jari Paakki, CEO of Gungnir commented, "The next planned step at our nickel projects is to update the historic estimates to current resources with a view of strengthening nickel prices in the near-future. Our current exploration focus in Sweden is gold. Drilling is on-going at our Knaften project focused on expanding our 2019 high-grade gold discovery of 59.60 g/t Au over 1.0 metre within a mineralized interval grading 14.07 g/t Au over 4.25 metres. Results of our exploration work will be made available through the summer and fall."
The Lappvattnet and Rormyrberget nickel deposits contain over 70 million pounds (Mlbs) nickel, 10 Mlbs of copper and 2 Mlbs of cobalt in historical estimates (see Note 1). At Rormyrberget, the historical estimate is 6,370,000 tonnes @ 0.35% Ni, 0.04% Cu and 0.01% Co for 48.7 Mlbs of Ni, 5.5 Mlbs of Cu and 1.9 Mlbs of Co.
Mineralization at Rormyrberget consists of both massive sulphides and wide disseminated zones which includes previously reported drill intersections of 125 metres grading 0.39% Ni. The Company focused on the more massive sulphide intervals and selected two of the relatively complete core sections for sampling. Gungnir's results compared very favourably with originally reported assays in drill holes ROR 90024 (19.05 m grading 2.05% Ni, 0.41% Cu) and ROR 91002 (14.65 m grading 1.62% Ni, 0.45% Cu) even though there were some narrow intervals of missing core which we assigned 0.00% Ni, 0.00% Cu and 0.00 g/t PGE's in our sampling. Gungnir's sampling also included PGE analysis (platinum + palladium + gold) which were not assayed in these earlier drilled holes. Cobalt values were all comparably low (mostly <0.1%).
Sampled drill core is archived at the SGU (Swedish Geological Survey) core facility in Mala Sweden. Drill core samples represent one-quarter drill core which was halved by sawing already split drill core. Core was logged and tagged for sampling at the core facility, then brought to ALS Minerals' Core Services Laboratory also in Mala. Core was sawed on site by ALS staff and sample material was sent to ALS's Lab in Ireland. Ni was analyzed using fire assay method Ni-OG46, Cu was analyzed using ME-MS41 and Cu-OG46 and Pt, Pd, and Au were analyzed using fire assay method PGM-ICP27. Sample lengths reported in the above table are core lengths.
Note 1: 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. Further information on Lappvattnet and historical estimate references and details, please refer to this link: http://www.gungnirresources.com/projects/lappvattnet-rormyrberget/overview/.
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.
ThSeeker
4 years ago
Gungnir Samples 4.64% Nickel Over 0.65 metres at Lappvattnet
SURREY, BC / ACCESSWIRE / July 08, 2020 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) ("Gungnir" or the "Company") reports up to 4.64% Ni over 0.65 metres at its Lappvattnet property in Sweden. Results are from re-sampling of archived drill core at the Lappvattnet nickel deposit.
Jari Paakki, CEO of Gungnir comments, "We continue to work on evaluating our nickel projects while actively and currently drilling gold targets at our Knaften project in Sweden. Results reported today are from re-sampling of 1970's archived drill core from Lappvattnet as part of our plan to log and validate historic core. Although a good portion of the 45-year-old drill core has been scavenged, still its availability at the Swedish Geological Survey core archives (indoor) along with three complete core sections from 2007 drilling, which we sampled earlier (see NR dated March 30, 2020), provides us with a cost-effective way to confirm significant nickel mineralization and increase our understanding of the deposit. Our next planned step is to update the historic resource at Lappvattnet."
Along with Lappvattnet, the Company holds the Rormyrberget nickel deposit located in the same general area. The two deposits collectively contain over 70 million pounds (Mlbs) nickel, 10 Mlbs of copper and 2 Mlbs of cobalt in historic resources. At Lappvattnet, the historical estimate is 1,139,000 tonnes @ 0.91% Ni, 0.19% Cu and 0.02% Co for 22.9 Mlbs of Ni, 4.8 Mlbs of Cu and 0.5 Mlbs of Co (see Note 1).
Re-sampling on a metre by metre comparison basis could not be undertaken, especially in the most massive sulphide sections, since many of the 1970's holes had only a section or two of core available for sampling. In some of the intervals reported above, several, half-decimetre to decimetre sections of core were missing; these missing intervals were assigned a value of 0.00 % Ni and 0.00 g/t PGE's. Incomplete core sections contribute to narrower intervals and lower nickel grades, and also any PGE-rich section, if any, may have been lost. Gungnir's earlier re-sampling of Lappvattnet core returned up to 50.91 g/t PGE's (39.0 g/t platinum, 11.8 g/t palladium, 0.11 g/t gold) and 2.13% nickel over 0.45 metres (see NR dated March 30, 2020).
Sampled drill core is archived at the SGU (Swedish Geological Survey) core facility in Mala Sweden. Drill core samples represent one-quarter drill core which was halved by sawing already split drill core. Core was logged and tagged for sampling at the core facility, then brought to ALS Minerals' Core Services Laboratory also in Mala. Core was sawed on site by ALS staff and sample material was sent to ALS's Lab in Ireland. Ni was analyzed using fire assay method Ni-OG46 and Pt, Pd, and Au were analyzed using fire assay method PGM-ICP27. Sample lengths reported in the above table are core lengths.
Note 1: 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. Further information on Lappvattnet and historical estimate references and details, please refer to this link: http://www.gungnirresources.com/projects/lappvattnet-rormyrberget/overview/
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.
ThSeeker
4 years ago
Gungnir to Drill for Extensions of High-Grade Gold at Knaften
SURREY, BC / ACCESSWIRE / June 4, 2020 / Gungnir Resources Inc. (GUG:TSXV)(ASWRF:OTCPK) ("Gungnir" or the "Company") is pleased to announce that drilling is planned to commence on June 15, 2020 at its Knaften project in Sweden. Drilling will focus on expanding the Company's 2019 high-grade gold discovery at the Knaften 300 Gold Zone ("Knaften 300") which includes 59.60 g/t Au over 1.0 metre within a mineralized interval grading 14.07 g/t Au over 4.25 metres.
Jari Paakki, Gungnir's CEO, "We are very excited to re-start drilling at Knaften 300 where last year we tested a new thrust fault model and successfully hit two stacked gold zones in each of the five holes we drilled across 200 metres, including discovery of a new lower zone with high-grade gold (59.60 g/t Au). With a working structural model, this year we are taking some bigger step-outs to test for extensions of these two zones and targeting additional stacked gold zones at depth and laterally where no previous drilling has taken place."
The Company plans to drill approximately 1,200 metres at Knaften 300. Drilling is planned to first test target areas below and northeast (down-dip) of the "Upper" and "Lower" zones then a larger step-out (approximately 1 km) to the southwest (see Figure 1).
Gold mineralization at Knaften 300 is associated with disseminated arsenopyrite zones typically ranging from about 5 to 20 metres wide (core lengths). Drilling highlights from Gungnir and previous operators include:
14.07 g/t Au over 4.25 m (from 138.75 to 143.00 m) in hole KN19-06
5.39 g/t Au over 2.00 m (from 98.00 to 100.00 m) in hole KN19-09
3.45 g/t Au over 10.75 m (from 67.05 to 77.80 m) in hole 96009
3.20 g/t Au over 10.00 m (from 83.50 to 93.50 m) in hole 200707
2.92 g/t Au over 13.00 m (from 81.5 to 94.50 m) in re-sample 200707
3.11 g/t Au over 8.00 m (from 135.80 to 143.80 m) in hole 200714
2.13 g/t Au over 14.45 m (from 55.00 to 69.45 m) in hole KNA01001
2.01 g/t Au over 6.70 m (from 190.50 to 197.20 m) in hole 200710
2.89 g/t Au over 5.00 m (from 118.80 to 123.80 m) in hole 200715
Drill intersections listed above are all core lengths. 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.
ThSeeker
4 years ago
Gungnir Resources Reports More Gold at Knaften
http://www.gungnirresources.com/news/gungnir-resources-reports-more-gold-at-knaften
Surrey, BC – November 5, 2019 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to report final results of the 2019 drill program at its Knaften project in northern Sweden. Results from holes KN19-08, -09 and -10 continue to demonstrate continuity of two gold zones at Knaften (Knaften 300 Gold Zone) and further discovery potential. New assays include an upper zone intercept of 5.39 g/t Au over 2 metres (includes 9.21 g/t Au over 1 metre) and 4.94 g/t Au over 0.90 metres in the lower zone in hole KN19-09. Please see Figure 1.
Jari Paakki, Gungnir’s CEO, "We were five-for-five with our drilling this year testing a new structural model at the Knaften 300 Gold Zone. Each of the five holes cut two mineralized zones including discovery of a new lower zone with high-grade gold (59.60 g/t Au). With our recently received cash payment of $1 million we are in good financial shape and plan to continue drilling at Knaften in 2020.”
Knaften 300 Gold Zone
Knaften 300 consists of two sub-parallel gold zones (Upper and new Lower Zone) hosted within disseminated arsenopyrite mineralization. The shallow-dipping zones extend down-dip for close to 250 metres to the east, beyond historic drilling, and are open for expansion. With a working thrust-fault model, there is a possibility of additional stacked zones (mineralized thrust faults) at depth. Further out, areas to the north, south and west of Knaften 300 also remain untested.
ThSeeker
5 years ago
Gungnir Drills 59.6 g/t Gold at Knaften, Sweden
Surrey, BC – October 2, 2019 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to announce a new, high-grade gold discovery at Knaften. Assay results include 59.6 g/t Au (1.92 opt Au) over 1.0 m (3.28 ft) within the newly discovered Lower Zone at the Knaften 300 Gold Zone (“Knaften 300”).
Highlights:
New high-grade gold (59.6 g/t Au) discovery in hole KN19-06
Highest gold grade drilled to date on the Knaften project
Assays pending for three additional holes
Jari Paakki, Gungnir’s CEO, "With discovery of high-grade gold and the predictability of the Knaften 300 mineralized zones, we have now moved this target to the top of our list. We believe we have a great chance for further discoveries down-dip and to potentially find additional stacked zones at depth. We eagerly await further assays from our 2019 drill program.”
Knaften 300 Gold Zone
Knaften 300 consists of two shallow-dipping, sub-parallel arsenopyrite mineralized zones (Upper and new Lower Zone). Zones vary in core length from about 3 to 8.5 metres and now extend down-dip for close to 250 metres and are open for expansion. Intersections start just 60 metres below surface. With a working thrust-fault model, there is a possibility of additional stacked zones (mineralized thrust faults) at depth and in the western part of the Knaften property.
Results have been received for holes KN19-06 and -07 and are highlighted by high-grade gold mineralization in hole KN19-06. The high-grade gold occurs within a 4.25-metre wide Lower Zone defined by disseminated arsenopyrite and minor amounts of chalcopyrite. Assays for three more holes (KN19-08, -09 and -10) are pending. Please refer to attached drill cross-section (Map 1).
Knaften 300 Gold Zone Results (KN19-06 and -07)
Hole ID Zone From (m) To (m) Length (m) Au (g/t) Au (opt)
KN19-06 Upper 62.50 67.50 5.00 0.49
Lower **138.75 143.00 4.25 14.07 0.45
Includes 142.00 143.00 1.00 59.60 1.92
and 177.00 178.00 1.00 0.93
KN19-07 Upper 70.65 78.15 7.50 1.00
includes 75.00 76.05 1.05 2.14
Lower 182.00 182.65 0.65 0.81
and 183.00 184.00 1.00 1.29
** The 4.25-metre interval of 14.07 g/t Au is the weighted average (within an arsenopyrite zone) of five separate assays ranging from 0.028 to 59.6 g/t Au. Additional notes: all intersections in the above table are core lengths; true widths are not known at this time but are believed to be 80-90% of core lengths. Grams per tonne (g/t) are converted to troy ounces per tonne (opt) at a ratio 31.1035 to 1.
Rodingtrask Target
At the Rodingtrask target, five holes were completed. Holes KN19-01 to -05, all encountered variably anomalous base metals. To date, Gungnir has completed just nine holes in this large area of the property, and the Company is now in a position where it can start utilizing drill results (for metal vectors) to tighten the search area for a potential massive sulphide deposit at Rodingtrask.
Analyses and QA/QC
All samples referred to in this release were tested at ALS Laboratories in Galway, Ireland. Cutting of drill core and sample preparation was completed by ALS in Mala Sweden. A 51-element package (ultra trace level method ME-MS41) by Aqua Regia and ICP-AES/ICP-MS was employed and method Au-ICP21, a 30-gram fire assay with ICP-AES finish, was used for gold analysis. Over-limit gold (>10 g/t) employed method Au-GRAV21, a 30-gram fire assay (FA-GRAV finish). Control samples (accredited gold standards and blanks) were inserted into the sample sequence on a regular basis to monitor precision of results.
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 (GUG: TSX-V) with gold and base metal permits in northern Sweden. The Company’s key project, Knaften, includes five separate targets: the Knaften 300 Gold Zone, the Rodingtrask VMS and an adjacent Cu-Ni target, an 8.5 g/t Au boulder cluster and a southwest gold target. All targets on Knaften are wide-open for expansion and further discovery. Further information about the Company and its properties may be found at www.gungnirresources.com or at www.sedar.com.
ThSeeker
5 years ago
Gungnir Receives $500,000, Drilling to Start at Rodingtrask Sweden
Surrey BC – May 29, 2019 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to report that the Company has now, upon regulatory approval, received the $500,000 initial cash payment related to the sale of the Company’s remaining royalty interest in the Kenville Gold Mine property in BC, Canada. In Sweden, drilling is scheduled to commence on June 3, 2019 on the Company’s new targets.
The royalty option agreement is between the Company and Ximen Mining Inc. (“Ximen”) whereby Ximen has the option to acquire the remaining interest in a 4% gross metal royalty over the Kenville Gold Mine property for $1,500,000 and 285,918 common shares of Ximen. The remaining consideration includes the share issuance and $1,000,000 in cash due to the Company on or before October 31, 2019 (see news release dated April 26, 2019 for further details).
Gungnir’s initial drilling focus is planned on the Rodingtrask volcanogenic massive sulphide (VMS) target on the Company’s Knaften property. Rodingtrask was discovered in 2018 with Gungnir’s first hole testing a large geophysical conductor. The discovery consists of a broad zone of base metal enrichment (zinc and copper) in core lengths over 100 metres starting just below surface, and favourable VMS geology and alteration. Only four holes have tested this target so far, and the goal now is to locate the core of the mineralized system targeting higher-grade massive sulphide mineralization with additional drilling. Gungnir plans to also test the new copper-nickel target discovered by the Company in 2017 and extensions of the Knaften 300 Gold Zone, both on the Knaften property.
About Gungnir Resou
ThSeeker
6 years ago
Gungnir Drills More Long Intervals of Mineralized Conglomerate in Sweden
Surrey BC – October 4, 2018 - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCPK) (“Gungnir” or the “Company”) is pleased to report that the Company has intersected additional long core lengths of sulphide mineralized conglomerate at Knaften in holes KN18-09 and -10, 230 metres and 120 metres respectively. Assay results received for hole KN18-07 along with a newly interpreted geological setting point to VMS (volcanogenic massive sulphide) related mineralization. The new target on the Knaften property is named Rodingtrask.
Highlights:
First results from Rodingtrask in hole KN18-07 show widespread Zn, Cu and Ag across the entire mineralized conglomerate; grading 0.24% ZnEq over 120.50 metres, including 0.35% ZnEq over 28.2 metres at its base
Current working model is a mafic volcanic-sediment VMS system but elevated Ni may draw similarities to the hybrid, Talvivaara black shale-hosted Ni-Zn-Cu deposit in Finland
Presence of sphalerite (Zn)-rich clasts in the host conglomerate suggests erosion from an existing sulphide deposit in the area
Initial indication of a gold-bearing plumbing system with elevated gold values in footwall rocks in hole KN18-07
Target area approximately 800 metres wide and open ended along strike and at depth
Awaiting 380 assays from holes KN18-08, -09 and -10
Jari Paakki Gungnir’s CEO stated, “From initial results it looks like we have tapped into large mineralized halo indicative of a potentially very large hydrothermal system. After reviewing the first assays from hole KN18-07 and core from holes KN18-08, -09 and -10, there are several indicators of a VMS setting including characteristic VMS base metals, footwall chlorite alteration, widespread silicification and the presence of a potential marker “exhalite” horizon. As with almost all VMS systems, the prize is to locate the core of it targeting potential massive, high-grade mineralization.” Mr. Paakki continued, “Knaften is proving to be a true Swedish smorgasbord with three distinct targets on it: VMS related (Rodingtrask), intrusion-related gold (Knaften 300 Gold Zone) and a Cu-Ni magmatic sulphide target. With a significant hydrothermal system indicated at Rodingtrask, this target has been moved to the top of our list”.
Location maps, additional information and drill core photos will be available for viewing via the home page link (Rodingtrask 2018) on the Company's website at www.gungnirresources.com. Assays results received from earlier completed 2018 holes are also included here.
Rodingtrask Results:
Hole ID From (m) To (m) Length (m) Zn Eq (%) Zn (ppm) Cu (ppm) Ag (g/t) Ni (ppm) Au (g/t)
KN18-07 1.30 121.80 120.50 0.24 630 222 1.21 216
includes 93.60 121.80 28.20 0.35 937 321 1.86 312
146.65 152.85 6.20 0.17
“ZnEq” (Zinc Equivalent) has been used to express the combined value of zinc, copper, and silver as a percentage of zinc, and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result. Nickel has been included in this calculation as well since some potential similarities exist with the Ni-Zn-Cu Talvivaara deposit in Finland. Calculations use metal prices of $1.20/lb zinc, $2.80/lb copper, $14.50/oz silver, $5.60/lb nickel and using the formula ZnEq%=((%Zn)(22.0462)(US$lbZn) + (%Cu)(22.0462)(US$lbCu) + (%Ni)(22.0462)(US$ibNi) + (gptAg)(1/31.1035)(US$ozAg)) / ((22.0462)(US$lbZn))
Rodingtrask
Since discovering Rodingtrask with hole KN18-07 in August, the Company has focused all of its efforts on this promising new target. Gungnir has completed three additional holes in the area to finish this current phase of drilling to await assays and analyze results. Field mapping and sampling was also completed. Modelling and interpretative work continues with plans to re-visit the core once assays are received.
Hole KN18-08 was collared at the same site as KN18-07 but was drilled in the opposite direction (drilled towards the west). The hole encountered mineralization conglomerate in its upper part but was stopped at 87 metres as it was apparently drilling down-dip. Graded bedding in a greywacke unit in this hole indicates stratigraphic tops to the west.
Holes KN18-09 and -10 were drilled northwest of KN18-07, 200 metres and 30 metres respectively. Both holes cut significant core lengths of mineralized conglomerate with KN18-09 cutting 230 metres and KN18-10 cutting 120 metres. Sulphide mineralization includes pre-dominantly pyrrhotite, lesser pyrite with some visible sphalerite and chalcopyrite, occurring as veins, stringers, disseminations, replacements, and locally semi-massive, massive and bedded accumulations. The conglomerate unit, perhaps best termed argillaceous conglomerate, has a black (carbonaceous) matrix that is mostly magnetic due to fine-grained magnetite and lesser pyrrhotite. Silicification is wide-spread but variable. Greywacke, sandstone and mudstone units occur interbedded with the argillaceous conglomerate which is currently interpreted, in part, as a sequence of coarse debris flows.
The current working model is a mafic-sediment VMS system developed in rift-fill sequence with ongoing, and long-lived hydrothermal activity occurring with intermittent sedimentation. The underlying rocks consist of altered mafic volcanics and syn-volcanic gabbro sills and dykes which likely provided the required heat source for the hydrothermal system. Strong footwall alteration is particularly obvious in hole KN18-10. Encouraging Au assays were received in altered footwall rocks in hole KN18-07. Another notable VMS ingredient is a possible marker “exhalite” layer(s) noted in holes KN18-07, -09 and-10 over a distance of 200 metres. The unit, which is sphalerite-bearing, is now calcite but large crystal forms may suggest precursor anhydrite? In KN18-07 an upper marker horizon caps the strongest mineralization at the base of the conglomerate sequence. Occasional sphalerite (Zn)-rich clasts occur in each hole suggesting erosion from an existing sulphide deposit in the area.
Copper-Nickel Target
Hole KN18-06 followed-up last year’s discovery of Cu-Ni bearing sulphides. KN18-06 drilled mainly gabbroic rocks, cutting a magmatic sulphide interval assaying 0.38% CuEq over a core length of 14.35m. The Company will review follow-up strategies for further evaluation of this target.
“CuEq” (Copper Equivalent) has been used to express the combined value of copper, nickel and cobalt as a percentage of copper, and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result. Calculations use metal prices of $2.80/lb copper, $5.60/lb nickel, $28/lb cobalt and using the similar formula as above.
Knaften 300 Gold Zone Area
The initial three holes focused on testing grade and continuity of gold mineralization at Knaften 300, and to establish structural controls on gold mineralization and optimal drill orientations. KN18-01 to KN18-03 each cutting arsenopyrite mineralization over core lengths of 9.60 to 19.45 metres. Holes KN18-04 and -05 were drilled approximately 2.5 kilometres to the southwest of Knaften 300. Sampling of KN18-04 has not been completed (***). The untested area to the east of the drilled Knaften 300 Gold Zone is the prime area for potentially expanding this gold zone.
Hole ID From (m) To (m) Length (m) Au (g/t)
KN18-01 84.70 95.65 10.95 1.35
84.70 86.10 1.40 2.04
89.55 90.55 1.00 4.01
94.55 95.65 1.10 3.34
KN18-02 67.05 77.05 10.00 0.25
83.00 87.50 4.50 0.21
KN18-03 57.05 63.60 6.55 0.45
65.60 66.65 1.05 0.53
All samples referred to in this release were tested at ALS Laboratories in Galway, Ireland. Cutting of drill core and sample preparation was completed by ALS in Mala Sweden. A 51-element package (ultra trace level method ME-MS41) by Aqua Regia and ICP-AES/ICP-MS was employed and method Au-ICP21, a 30-gram fire assay with ICP-AES finish, was used for gold analysis (a 50-gram fire assay was also used for hole KN18-01 as a check). Control samples (accredited gold standards and blanks) were inserted into the sample sequence on a regular basis to monitor precision of results. All results above are core lengths and may not represent the true width of the mineralization.
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. Mr. Paakki has 30 years-experience in mineral exploration with a large portion of it focused on Cu-Zn-Pb-Ag-Au massive sulphides.
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 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
http://www.gungnirresources.com/news/gungnir-drills-more-long-intervals-of-mineralized-conglomerate-in-sweden-
ThSeeker
6 years ago
Comments on ASWRF from Gold Investment Letter:
Reading through Gungnir's filing it becomes evident to me that they have 3 different areas at Knaften that could set this thing off. In addition, their other assets get no play but they have a legitimate 70 million pound nickel resource to build on that was a very fortuitous acquisition in the belly of the bear market (that's over $400M worth of nickel at today's price--in an entirely different area of Sweden). Someone didn't renew their permits and Gungnir jumped on it!
If you read slowly and pay attention to the details about the encountered mineralization in a couple of these areas, you'll likely notice that they are onto something here and it is potentially very significant. We absolutely need to see the assays from recent core photos to know what we actually have but things are looking very promising. I'm hoping that the stock will cool off and consolidate into next week but it could keep going here as well. If it goes through .215, we'll see .30 plus pretty quickly.
Most importantly, shareholders should take a moment and read up on what you own a piece of in Sweden. Management has been very prudent with the cash as they had $1.2M at the end of June. I'm sure that will diminish quite a bit once the drill program is paid out but they are keeping plenty of reserves to last until next springs royalty payment. If they hit on something big next month via assay releases, I would like to see them raise more money and hit Knaften hard immediately.
http://www.gungnirresources.com/_resources/financials/MD_A_Q2_2018.pdf
???????These are two juniors that GIL members own a boat load of! We've had a long time to accumulate and build big-cheap positions in Encore/Gungnir. Delayed gratification in these investments can end up being a huge blessing in disguise, if we stick with them and take advantage of the suppressed valuations. Just like with Encore where we initially bought it from .05 to .12, then it tanked to .04-.06 for a year or more and discouraged people while the sector cratered again, yet now is rising from the ashes. If you added every quarter to your position you would now be up over 50% on a much bigger amount than whatever you bought in the .12 cross, if that was when you got involved as an example.
Not every situation merits to keep buying them if they go down. But when the fundamentals are there and it's a market and/or sector condition issue, many times it makes sense to stick with it. Not just hold on...but buy more cheap! The longer I have to suffer through a bad market, the more I want to make on the way out of it. Commodities are cyclical....this isn't that complicated as long as you have your head screwed on straight and can be patient for things to play out in your favor. Congrats to those of you that held through the Encore correction, we're looking good and everyone should be in the black.
Gold Investment Letter
Sincerely,
Eric Muschinski
Gold Investment Letter
eric@phenom.ventures
ThSeeker
6 years ago
VANCOUVER, BC / ACCESSWIRE / July 10, 2018 / Gungnir Resources Inc. (TSX-V: GUG; OTC PINK: ASWRF) ("Gungnir" or the "Company") reports that the first three drill holes for 2018 have been completed with KN18-01 to KN18-03 each cutting arsenopyrite mineralization over core lengths of 9.60 to 19.45 metres. Drilling tested the Knaften 300 Gold Zone ("Knaften 300"), a disseminated-style gold zone with arsenopyrite serving as an indicator of gold (as with other gold deposits in the region and in many gold camps elsewhere). Select photos of the drill core are available for viewing via the home page link on the Company's website at www.gungnirresources.com. All assays are pending.
The initial three holes focused on testing grade and continuity of gold mineralization at Knaften 300, and to establish structural controls on gold mineralization and optimal drill orientations. The next series of holes are underway (3-4 drill holes planned) located approximately 2.5 kilometres to the southwest of Knaften 300. These holes target an area where a wide zone (greater than 50-metre core length) of alteration, arsenopyrite and anomalous gold was discovered in one hole by the previous operator in 2008 and not followed-up. Gungnir then plans to drill electromagnetic anomalies in the area of the Company's 2017 discovery of copper-nickel bearing sulphides and additional gold targets in the northern half of the property as the program moves forward.
Hole KN18-01 encountered a 10.95 metre zone of mineralization starting at a down-hole depth of 84.70 metres. Mineralization consists of fine-grained to very coarse-grained blades of arsenopyrite (steel grey coloured mineral in accompanying photos) ranging from 1 to 3% to heavier concentrations in decimetre-scale bands. Mineralization is hosted by mafic volcanics, sedimentary rocks and altered intrusives. Numerous calcite veinlets occur throughout the section. The hole was drilled immediately behind historic hole 2007-07 (3.3 g/t Au over 10 metres).
Hole KN18-02 intersected a 19.45 metre interval hosting disseminated arsenopyrite approximately 30-40 metres northeast of the mineralized intercept in KN18-01. Approximately 50 percent of the interval is mineralized with 1-3% fine- to coarse-grained disseminated arsenopyrite. The host rock is largely altered intrusive rock ranging from quartz diorite to gabbro with quartz veins.
Hole KN18-03 was drilled approximately 70 metres southwest of Hole KN18-01 where it cut a 9.60 metre interval of disseminated arsenopyrite mineralization with local chalcopyrite hosted by variably brecciated and altered intrusive rock with quartz-albite veins.
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. All drill intersections of mineralization are core lengths, and at this time it is estimated true widths are in the order of 70-90% of the core lengths. Collar locations shown are readings from a hand-held GPS unit and have not been precisely surveyed at this time; a discrepancy of up to +/- 10 metres may be possible.
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 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.
Greta Grabo
6 years ago
$GUG.V / $ASWRF
Gungnir Receives $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. Gungnir Resources Inc. a mineral exploration company with gold and base metal permits in northern Sweden. For More Information: http://www.thestreetnow.com/spotlight/gug/ ..
ThSeeker
6 years ago
Gold Investment comments:
Gungnir and Timberline Buying Opp
Good Afternoon,
I'll keep this short and sweet mainly for readers already involved and aware of these companies, which are both in my top 10 junior gold recommended list. Gungnir Resources (GUG/ASWRF) and Timberline Resources (TLRS/TBR) have been drifting lower for several months and are now becoming extremely attractive valuations to buy in. I've attached weekly charts on both stocks and two things stock out to me.
Gungnir has pulled back in a very systematic way since early 2016, retreating 50-60% from highs every 6-8 months, followed by multi month rallies to new highs. Investors that add/added around the areas circled have become quite pleased in the ensuing 3-6 months and we are at that level right now. This is an excellent gold junior company with a very exciting story in Sweden, major nickel assets, new discoveries from last season to follow up on, and a $1MM annual incoming cash royalty. I'm reiterating my strong buy on GUG....buy up to 15 cents CDN
Timberline Resources is now approaching a major long term support area, which you can clearly see on the chart. The price is oversold on low volume. Uncertainty around the Talapoosa option payment due this spring has investors on the sidelines. However, there are a lot of possibilities on how this shakes out in the next 60 days, anything can happen. Even if the worst case comes and they give the project back, the company has 800K ounces of gold at Eureka and Seven Troughs to build on and right now that gold can be bought for about $6 an ounce in the ground (just Eureka). Downside is very limited at current prices and I continue to recommend accumulation.
ThSeeker
6 years ago
Vancouver, British Columbia (FSCwire) - Gungnir Resources Inc. (GUG: TSX-V, ASWRF: OTCBB) (“Gungnir” or the “Company”) has received final approval for five exploration permits in the Norrbotten District in northern Sweden. These new exploration permits complement Gungnir’s existing gold and base metal property portfolio in Sweden.
Company assets:
$4,000,000 advance royalty stream; next annual $1,000,000 payment due April 30, 2018
Knaften property: near surface gold mineralization (including 2.92 g/t Au over 13.0 metres) and new drill discovery of copper-nickel bearing sulphides
Lappvattnet and Rormyrberget properties: 70 million lbs of nickel in historical resources
New Norrbotten permits include reported grab samples with copper (up to 2.3 % Cu), gold (up to 7.7 g/t Au) and silver (up to 380 g/t Ag)
The Company plans a larger second phase 2018 drill program and prospecting activities and will provide more detailed exploration plans and timing once they are finalized.
Norrbotten 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. The Company has not verified this data. Also, a qualified person 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). 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.
ThSeeker
6 years ago
VANCOUVER, BC / ACCESSWIRE / December 12, 2017 / Gungnir Resources Inc. (TSX-V: GUG, OTC PINK: ASWRF) ("Gungnir" or the "Company") has submitted applications to acquire 5 new permits totaling 25 sq. km in northern Sweden.
The permits cover significant gold, silver and copper mineralized boulders/blocks along a north-west trending corridor located approximately 200 km north of the Company's Knaften project. Historic prospecting results include:
7.7 g/t Au
4.3 g/t Au and 2.3 % Cu
3.7 g/t Au, 380 g/t Ag and 1.3 % Cu
2.6 g/t Au and 10 g/t Ag
2.54 g/t Au
2.09 % Cu, 25 g/t Ag and 0.9 g/t Au
1.96 % Cu and 1.3 g/t Au
1.52 % Cu and 33 g/t Ag
"As part of the Company's strategy to actively monitor new quality opportunities and to maintain a pipe-line of projects from prospecting to advanced stage, we have added these early-stage prospects to our portfolio. We believe we have picked the initial nuggets within this potentially over-looked mineralized trend in northern Sweden, and plan a summer prospecting program on all five permits," commented Gungnir's CEO, Jari Paakki.
Permit applications are 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. The Company has not verified this data.
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.
ThSeeker
7 years ago
Gold Investment Letters latest comments:
Gungnir News and Vanadium
Good Morning,
Gungnir Resources (GUG/ASWRF) has been a very big winner for us already being that I initially recommended the stock at 1 penny in late 2015 to free subscribers. Premium members had weeks to accumulate at .005 to .01 and free readers had a number of weeks to buy at .01-.02, a couple of months even. The fact that we are up 1,400% from those early purchases is terrific, but GUG remains one of the most prospective gold juniors in my portfolio. I'm totally happy to blow out and move to the next deal if conditions merit but that isn't the case here yet.
???????I think the most exciting days for Gungnir are in the future and the 2018 drill program could provide big time fireworks. Read the statement from CEO Jari Paaki in yesterday's press release:
“Our Knaften project was identified by the Company a few years back as an under-explored ‘hot-spot’ in northern Sweden", stated Gungnir’s CEO, Jari Paakki. “Knaften sits directly up-ice (glacial ice direction) of a very large gold-in-till anomaly with the source only partially indicated in bedrock at our Knaften 300 Gold Zone. Other comparable gold-in-till anomalies in the district match-up with current and past producing gold mines or known gold resources, demonstrating the potential significance of the Knaften till anomaly which continues to provide us with great expectations for finding more gold at Knaften. Not only does Knaften offer gold, our 2017 drill program has added copper-nickel sulphides into the mix (see NR dated October 23, 2017). Numerous geophysical conductors nearby are attractive targets to test for possible massive sulphides containing copper and nickel.”
Now we have blue skies for gold, copper, and nickel. We know from our recent 10 bagger, Metallis Resources, and from high flying Garibaldi Resources, how investors can clamor for high grade massive sulphide intercepts out of a potential economic ore body. One drill hole can change everything in this game and GUG is playing in an area where anything can happen! Their neighbor Aurion (AU.V) earlier this year saw their stock erupt and climb 10 fold after their discovery was revealed. New Nadina (NNA) has seen their 15 cent stock with tiny volume explode to $2 in the last 10 days after an exciting drill hole was announced. I really like the Gungnir story and position for a potential grand slam going into 2018. Be sure to page through the new PPT the company released yesterday:
https://docs.wixstatic.com/ugd/42db77_958a558686bd45a2b3c784fce4fbc5e6.pdf
ThSeeker
7 years ago
Gold Investment Letter:
I will be attendig the Palisade Global Hard Asset conference on Jekyll Island this Thursday. We'll be meeting in the same rooms that J.P. Morgan and a small group of bankers created the Federal Reserve in 1913. Eric Sprott and G Edward Griffin are two of the keynote speakers for a small group of 50 high net worth investors. I look forward to recording video live and will recap key thoughts next week. In the meantime, I'm still playing catch up to the past weeks emails so if you haven't had a reply from me I will be getting back to everyone today/tomorrow!
This gold dip is a gift! I continue to build bigger and bigger positions in anticipation of a closing window where we can buy gold under $1,400 and silver under $20. I have deep conviction that gold is heading to $1,400 versus $1,100! If you are betting on the ladder, I fear that you are missing out on the big picture. My prediction is that gold will be $1,900-$2,000 an ounce in 2018. The last time gold reached $1,400 it took only 9 months to reach highs over $1,900 and this time I think it will happen faster.
Juniors that I continue to like as core long term positions are Timberline Resources (TLRS/TBR), Gungnir Resources (GUG/ASWRF), and Orca Gold (ORG/CANWF). ORG is at 59-60 cents this morning which is still below our "buy up to price" of 65 cents CDN, so add while you can under that price. With sanctions on Sudan officially removed and news flow from a 25,000 meter ongoing drill program, the wind is at the back of Orca and I expect new highs in Q4. In 2-3 years this could be a $5 stock.
Gungnir's chart is gorgeous! Drill results could be out any day now based on my discussion a month or so ago with management. Aurion Resources (AU.V), Gungnir's neighbor, continues to trade nicely back above $3 yesterday. AU was trading at 17 cents last May before their new discovery sent the share price almost 20 fold in the past 18 months! GUG has huge winner potential and still commands only a $10MM CDN market cap, which is paltry. Add GUG on weakness or up to .175.
Lastly, I have increased my already significant position in Timberline Resources (TLRS/TBR) over the past week. The 30 cent financing (TLRS) is being led by a group with a large investor following and they have committed $500K of the $1.25MM. The current financing is strategic in this respect and will also finance a new drill program at Talapoosa. With nearly 2 million ounces of gold resource in Nevada at $5 per ounce in the ground, buying TLRS/TBR around 30 cents US/40 cents CDN is a no brainer. With my recent purchases, including warrants, I own approximately 8% of the outstanding shares in Timberline.
I have very meaningful positions in GUG/ORG but my biggest by far is in Timberline. I'm simply convinced that there is deep value here and time is on the side of finding a partner to fund the looming option payments in 2018/2019. New $$ in the coffer and news flow from moving the project forward should create new enthusiasm in the share price and behind the scenes. Long term investors should be scooping up TLRS under 35 cents and TBR under 42 cents while things are quiet.
I will have updates on many other positions like Patriot, Bravada, Southern Silver, etc in the coming week or so. However, if I haven't said sell, my outlook hasn't changed from the last time I mentioned any of these stocks. I remain long all of these mentioned above but when not much is moving for the companies in terms of news it tends to simply be a waiting game.
I'm long GUG/ORG/TLRS
???????
Gold Investment Letter
Sincerely,
Eric Muschinski
Gold Investment Letter
eric@phenom.ventures
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
willlbone
6 years ago
Hot Features
Premium
