Assays From First Diamond Drillhole Confirm Extensive Nickel Sulphide System At Pulju

Nickel sulphide explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) is pleased to advise that it has received assay results for the first diamond drillhole completed at its flagship Pulju Nickel Project (the Project) in the Central Lapland Greenstone Belt (CLGB) of northern Finland.

HIGHLIGHTS

• Assays from Nordic’s first diamond drillhole HOT001 (total depth: 1,109.5m) at the Pulju Nickel Project in Finland confirm the discovery of an extensive nickel sulphide system at the Hotinvaara Prospect.
• HOT001 targeted EM conductors and lateral and depth extensions of the Hotinvaara JORC (2012) Mineral Resource Estimate1 of 133.6Mt at 0.21% Ni.
• The hole intersected pervasive disseminated nickel sulphide mineralisation to a downhole depth of 624m.
• Assay highlights include:
  • 94.15m @ 0.20% Ni from 6.4m
  • 38.7m @ 0.26% Ni from 149.3m, incl. 0.65m @ 1.49% Ni, 0.07% Co from 174.7m
  • 38.0m @ 0.18% Ni from 226m, incl. 0.65m @ 1.09% Ni, 0.06% Co from 239.15m
  • 93.3m @ 0.17% Ni from 276m
  • 50.85m @ 0.16% Ni from 395.15m
• Partial leach assay results for HOT001 down to 624m indicate that, on average, 83% of total nickel occurs as nickel-in-sulphide, matching the historical results.
• The results for HOT001 confirm the presence of a very large, potentially district- scale nickel sulphide system at Pulju with significant metal endowment.
• Ongoing drilling continues to target both expansion of the existing Hotinvaara MRE and EM conductors with the potential to host high-grade massive sulphides.
• Sixteen (16) diamond drillholes now completed for a total of 10,966.4m.
• Considerable news flow expected over the coming months as the pace of assay turnaround increases.

Importantly, the hole encountered multiple mineralised zones to 624 metres downhole. The grade of the mineralisation intersected is consistent with the current Mineral Resource Estimate (MRE) for Hotinvaara of 133.8Mt @ 0.21% Ni and 0.01% Co, with the mineralised zones extending well beyond the current MRE envelope.

The Phase 1, 22,000m drilling program at Hotinvaara is focused on a dual exploration strategy of targeting geophysical anomalies, including electromagnetic (EM) conductor plates interpreted to be zones of massive sulphide accumulation, together with extensions to the previously defined MRE1 (Figure 1).

While Nordic is targeting massive nickel-copper sulphides within the disseminated nickel sulphide mineralisation, of a similar style to the nearby world-class Sakatti Deposit, the ongoing drilling is also increasing confidence in the significant size and district-scale potential of the near-surface disseminated nickel sulphide mineralisation at the Hotinvaara Prospect.

Management Comment

Nordic Nickel Managing Director, Todd Ross, said: “These first assays from our maiden diamond drilling program have added to the excitement around the scale and endowment of the nickel sulphide system at Pulju and its significant growth potential.

“Excitingly, this hole provides our first insight into the potential for mineralisation below the existing Mineral Resource – which was based entirely on historical drilling and extends to a maximum depth of 500 metres with 81% of the MRE in the top 250 metres. HOT001 intersected multiple zones of disseminated nickel sulphide mineralisation to a downhole depth of 624 metres in the prospective ultramafic lithologies, with the system remaining entirely open in several directions.

“The clear implication of this is that the historical drilling has hardly scratched the surface of the Hotinvaara Prospect, which itself makes up just 2% of Nordic’s land package at Pulju.

“This is an important first hole for Nordic Nickel which confirms we have a potentially world-class asset at Pulju. It provides clear evidence of the potential to expand the current MRE at Hotinvaara, while also confirming the significant nickel sulphide endowment of the system. It also augurs well for the potential discovery of additional high-grade massive sulphide zones, which remains a key focus of our drilling. We are looking forward to an exciting and productive period for the Company over the coming months as the pace of assay turnaround begins to increase.”

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