the Knaften 300 Gold Zone. And with growing indications of a sizeable mineralized system, the Company also importantly announces that it has tied-up key adjoining permits to cover the entire 4 x 5 km quartz diorite intrusion which hosts Knaften 300 along its northern edge. Jari Paakki, Gungnir's CEO, said "Once the new permits are finalized, Gungnir will control 4,887 hectares, or nearly 50 sq km, expanding the size of the Knaften property by over 75% and significantly increasing the potential of Gungnir's Knaften intrusion-hosted gold target."
The Company's recently completed drilling at Knaften was reduced due to travel restrictions, but was carried out as efficiently and economically as possible in light of COVID-19 concerns and provided important structural information. Four holes (KN20-01 to -04) were drilled totalling 1,122 metres at Knaften 300. New results show shallow-dipping, stacked arsenopyrite zones are gold-bearing and extend down-dip for more than 400 metres compared to the 200-metre extent Gungnir reported last year. The disseminated style of mineralization offers excellent potential for continuity, and further, the number of mineralized zones is also increasing at depth with now up to six zones identified in the profile Gungnir drilled. All zones remain open in all directions. With the exception of the high-grade gold intersection from 2019, results overall in 2020 are comparable