Canada-based Gungnir Resources (TSX-V: GUG) announced that authorities have approved a permit application to start drilling on its Knaften gold project, located in the Vasterbotten district of northern Sweden.
According to the miner's website, Knaften covers Au in boulders and outcrop, as well as drill-indicated Au mineralization along a developing 10+ km long geochemical-magnetics trend in the Knaften greenstone belt.
The drill campaign would begin in the second quarter of 2018 with 20 diamond drill holes testing six target areas over a strike length of more than 8 km for up to 4,000 metres of diamond drilling planned. The goal is to expand the Knaften 300 Gold Zone and to test multiple new targets for potential high-grade gold and additionally copper-nickel mineralization.
"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," management said in a press release.
The brief also states that Gungnir is planning a first-phase prospecting program on its newly staked Norrbotten gold and base metal claims, located in a homonymous district in the northern part of the country. In particular, the company will focus on locating the source of several polymetallic boulders including high-grade nickel and cobalt.