High-Grade Nickel Sulphide Intersected Outside Mineral Resource

Nickel sulphide explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) is pleased to report further significant assay results received from drilling completed 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

• Assays from nine (9) diamond drill holes continue to return extensive zones of nickel sulphide mineralisation, including zones of higher-grade massive stringer sulphides.
• Assay highlights include:
  • HOT026
    • 41.1m @ 0.25% Ni from 296.9m (incl. 0.45m @ 2.4% Ni, 0.11% Co); and
    • 100m @ 0.21% Ni from 353m (incl. 0.55m @ 1.17% Ni, 0.05% Co)
  • HOT021
    • 195m @ 0.21% Ni from 10m; and
    • 107.9m @ 0.17% Ni from 330m
  • HOT018
    • 184m @ 0.21% Ni from 34m
  • HOT023
    • 141.75m @ 0.22% Ni from 35.85m (incl. 2m @ 0.80% Ni, 0.04% Co)
  • HOT020
    • 122m @ 0.21% Ni from 92m; and
    • 132.3m @ 0.22% Ni from 347m
  • HOT014
    • 102.37m @ 0.20% Ni from 137.63m

(See Table 1 and Appendix 1 for details)

• Results reinforce the potential for high-grade, semi-massive and massive nickel sulphides within the extensive areas of disseminated nickel sulphide mineralisation at Hotinvaara.
• Partial leach assaying confirms the predominance of nickel sulphide in the assays received to date.
• Hotinvaara Prospect represents just 2% of the total prospective mineralised belt within the broader Pulju Project.
• Assay results pending for an additional five drill holes from the Phase 1 drilling program at Hotinvaara.
• Updated MRE scheduled for completion by the end of 2023.

Principally, these results have confirmed and expanded the footprint of the extensive zones of disseminated nickel sulphide mineralisation at the Hotinvaara Prospect. Additionally, step-out drilling to the south (HOT026) has demonstrated a large extension of the mineralised system and that the targeting of geophysical anomalies is an effective (Figure 1, Table 1 & Appendix 1).

Figure 1. Collar plan showing Nordic’s drilling (green dots) and historical drilling (black dots). Drill holes reported in this release highlighted in green text. Composite assay intersections highlighted (cut-off:>1,500ppm Ni-total; max. 6m internal dilution). Cross-sections A – A’, B – B’, C – C’, D – D’, E – E’ and F – F’ see Figs. 2 – 7.

Management Comment

Nordic Nickel Managing Director, Todd Ross, said: “We are very encouraged to see zones of high- grade nickel sulphide in these latest assays associated with the extensive zones of disseminated mineralisation which we have been consistently intersecting.

“The Phase 1 drilling program has been extremely successful in confirming and expanding the known mineralised footprint at Hotinvaara, laying the foundations for a resource upgrade due by the end of this year. In particular, the strong correlation of magnetic anomalism with nickel sulphide mineralisation is extremely encouraging as we look to both expand the existing resource and discover larger accumulations of massive sulphides.

“As our understanding of the mineralised system advances, we will be in a strong position to build on the results of the Phase 1 drilling and target new discoveries, both within, and external to, the Hotinvaara licence area. In the meantime, shareholders can look forward to consistent further news-flow as we await final assays from the drilling, an updated MRE and metallurgical testwork results.”

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