New Exploration Licence Applications And Reservation Areas In Finland

Nickel sulphide explorer Nordic Nickel Limited (ASX: NNL; Nordic, or the Company) is pleased to advise that it has expanded the area under ELAs at its flagship 100%-owned Pulju Project in Northern Finland (Pulju, or the Project) after submitting applications for new exploration licences within its existing tenure.

HIGHLIGHTS

• Nine new Exploration Licence Applications (ELAs) submitted over a total area of 141km² covering areas of known mineralisation based on previously announced regional historical drilling¹, replacing the Saalama Exploration Reservation area.
  
• One new Exploration Reservation area covering a total of 245km2.
• Applications reflect the results of Nordic’s ongoing geological review which has confirmed the considerable prospectivity of the area.

The new ELAs cover a total area of 141km2 at the Pulju Project and are the result of the Company’s ongoing review based on the previously announced historical drilling database1, ground mapping and initial geophysics – all of which reinforce the enormous prospectivity of the area.

Nordic’s new Exploration Reservation area, known as Tepasto, covers a total area of 245km2 and includes mineral prospects first discovered by Outokumpu in the late 1970’s. Approximately 4,500m of shallow drilling was undertaken in the late 1970’s and early 1980’s at two main prospects within the new area, named Tepasto and Ruskisrova, where vein-hosted molybdenum (Mo) and copper (Cu) mineralisation was intersected. Copper and molybdenum prospects were also subsequently identified elsewhere in the reservation area but not followed up.

The strong magnetic anomalies identified within the region, representing intrusive rocks of diverse composition, show that significant crustal-scale events occurred in the area and highlight the potential for different types of ore formation systems including magmatic, hydrothermal and skarn (alteration) related systems. Large-scale structures also transect the Tepasto region, offering the potential for shear zone hosted gold mineralisation. No modern exploration activities have been reported on in the region.

Finland’s Exploration Reservation Application system ensures that the organisation applying for the Reservation is given priority over the area to allow for further studies to be undertaken, prior to an ELA being submitted.

Nordic will now commence the process of evaluating the available geological data at Tepasto before finalising any new ELAs over the area.

Management Comment

Nordic Nickel Managing Director, Todd Ross, said: “The Company is undertaking active and ongoing geological review of the broader Central Lapland Greenstone Belt, based on historical drilling data, geophysics and ground mapping. Northern Finland is under explored from a modern exploration perspective, and there is considerable scope to expand the project area based on favourable geological trends and structures, as well as limited historical data.

“The outcomes of this review have well and truly exceeded our expectation, highlighting the enormous scale of the opportunity in this district. Based on the latest data available to us, we have lodged new ELA’s and an Exploration Reservation Application.”

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