Drilling Delivers Widest Higher Grade Nickel Zone Thus Far at Pulju

Nickel sulphide explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) is pleased to report the final assay results from the 2023 drilling program at the Hotinvaara Prospect at its 100%-owned flagship Pulju project, situated in Northern Finland (Pulju, or the Project) within the Central Lapland Greenstone Belt (CLGB). The Company completed 28 diamond drill-holes for 15,432m as part of its maiden drilling program at the Project.

HIGHLIGHTS

• Nordic Nickel continues to discover substantial extensions to its Hotinvaara resource and vector in on higher grade nickel sulphide zones, based on assays received from the final five diamond drill holes of the 2023 drilling program.
• Additional extensive zones of disseminated nickel sulphide containing zones of higher-grade nickel sulphides, with significant results including:
  • HOT016 – strongest nickel mineralisation reported to date at Hotinvaara:
    • 91.7m @ 0.22% Ni from 1.6m; and
    • 164.15m @ 0.20% Ni from 216m; and
    • 26.4m @ 0.59% Ni from 412.6m, including:
      • 6.1m @ 0.74% Ni from 412.6m; and
      • 4m @ 0.77% Ni from 420m; and
      • 3.35m @ 0.91% Ni from 428m, including:
        • 1.2m @ 1.02% Ni from 428m; and
      • 2m @ 0.52% Ni from 433m
  • HOT028
    • 125.7m @ 0.19% Ni from 152.3m; and
    • 54.25m @ 0.22% Ni from 319.55m, including:
      • 5.8m @ 0.57% Ni from 322.25m
  • HOT027
    • 99.1m @ 0.22% Ni from 4.7m
  • HOT015
    • 64.3m @ 0.19% Ni from 220.3m; and
    • 57.35m @ 0.17% Ni from 331.9m
• Results confirm significant nickel sulphide mineralisation outside the current Mineral Resource Estimate (“MRE”), with an updated MRE due in Q1 2024.
• Presence of higher grade zones reinforces the fertility of the system and provides vectors for follow-up drilling next year.
• Partial leach assaying further confirms the predominance of nickel in sulphide.
• Hotinvaara Prospect represents just 2% of the total prospective mineralised belt within the broader Pulju Project.
• Planning and consultation with key stakeholders underway for 2024 winter drill program.

Figure 1. Collar plan showing Nordic’s drilling (purple dots and histograms) and historical drilling (grey dots). Drill holes reported in this release highlighted in green text. Composite assay intersections shown (cut-off: >1,500ppm Ni-total; max. 6m internal dilution). Cross-sections A – A’, B – B’, C – C’ and D – D’ see Figs. 2 – 5.

Management Comment

Nordic Nickel Managing Director, Todd Ross, said: “It’s great to finish the year with one of the widest zones of higher grade nickel sulphide mineralisation seen at the project. This is a very encouraging indication of the fertility and endowment of the system, providing clear evidence that Hotinvaara has the potential to host large accumulations of high grade nickel sulphides.

“While work is continuing on an update to the current Mineral Resource Estimate, the team is now also actively engaged in a detailed review of the data generated from the 2023 drill program.

“The focus now is on building our understanding of the controls and orientation of the mineralisation by developing interpretive cross-sections across the deposit and matching this information with what we know about the broader structural geological context and position of the drilled intercepts within the mineralising system.

“With the help of some of the most experienced nickel exploration geologists in the business, we are working towards a refined geological model which will help us to more accurately design and target the next round of holes to hopefully lead us towards a breakthrough discovery. The final batch of assays has delivered some real encouragement that we are now moving much closer to achieving that objective.

“I would like to take this opportunity to thank the entire Nordic team, both in Finland and Australia, for their hard work during the year – and also to acknowledge the support of our loyal shareholders. We are very excited about what 2024 will deliver for the Company.”

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