Nordic Nickel

March 2024 Quarterly Report

Updated Mineral Resource Estimate for the Hotinvaara Prospect establishes the Pulju Project as a globally significant nickel sulphide district; Base of Till drilling program commences at the recently granted Holtinvaara Exploration Licence.

Nordic Nickel Limited’s (“Nordic Nickel” or “the Company”) (ASX: NNL) flagship 100%-owned Pulju Nickel Project is located in the Central Lapland Greenstone Belt (CLGB), 50km north of Kittilä in Finland, with access to world-class infrastructure, grid power, a national highway, international airport and, importantly, Europe’s only two nickel smelters.


HIGHLIGHTS

  • Updated Mineral Resource Estimate (MRE) completed for the Hotinvaara Prospect:
    • MRE increased to 418Mt @ 0.21% Ni, 0.01% Co and 53ppm Cu for 862,800t of contained Ni, 40,000t of contained Co and 22,100t of contained Cu;
    • Indicated Resource now 42Mt @ 0.22% Ni, for 92,700t of contained Ni;
    • Inferred Resource of 376Mt @ 0.21% Ni, for 770,100t of contained Ni.
  • A substantial portion of the updated MRE, over 459kt of contained Ni, is located within 250m of surface.
  • The Company’s 28 holes drilled during 2023 have more than tripled the in-situ contained nickel estimate and the updated MRE now exceeds the upper end of the Company’s previously published Exploration Target1.
  • Detailed metallurgical test work program on Hotinvaara ore is continuing.
  • Base of Till (BOT) drilling campaign commenced on the recently granted Holtinvaara Exploration Licence (EL) area, designed to test nickel and copper sulphide targets on one of the three major prospective magnetic anomalies in the area within an interpreted extension of the mineralised ultramafics seen at Hotinvaara.
  • New Investor Hub launched to enhance shareholder engagement.
  • Cash of $1.96m as of 31 March 2024.

The known nickel mineralisation in the CLGB is typically associated with ultramafic cumulate and komatiitic rocks with high-grade, massive sulphide lenses and veins enveloped by very large, lower grade disseminated nickel sulphide near-surface. The disseminated nickel at Pulju is widespread and indicates the presence of a vast nickel-rich system.

During the March 2024 Quarter, Nordic Nickel reported an updated Mineral Resource Estimate for Hotinvaara comprising 418 million tonnes grading 0.21% Ni, 0.01% Co and 53ppm Cu for 862,800 tonnes of contained Ni, 40,000t of contained Co and 22,100t of contained Cu2.

Pulju is located 195km from Boliden’s Kevitsa Ni-Cu-Au-PGE mine and 9.5Mtpa processing plant in Sodankylä, Finland. Kevitsa provides feed for the 35ktpa Harjavalta smelter, which is located approximately 950km to the south and processes concentrate from Kevitsa’s low-grade disseminated nickel sulphide ore (Mineral Resource Estimate Ni grade ~0.21%). Europe’s only other smelter is Terrafame’s 37ktpa Sotkamo smelter, located 560km south-east of Pulju.


Click here for the full ASX Release

This article includes content from Nordic Nickel, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

NNL:AU
Nordic Resources

Nordic Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Nordic Resources

Nordic Resources


Keep reading...Show less

Exploring district-scale nickel asset in Finland to support growing demand

$2.85m Placement in Conjunction with 815Koz AuEq Acquisition

$2.85m Placement in Conjunction with 815Koz AuEq Acquisition

Nordic Resources (NNL:AU) has announced $2.85m Placement in Conjunction with 815Koz AuEq Acquisition

Download the PDF here.

Nordic Nickel

Surface Exploration Results Reveal Ni and Cu Geochem Targets

Nordic Nickel (NNL:AU) has announced Surface Exploration Results Reveal Ni and Cu Geochem Targets

Download the PDF here.

Glowing periodic table detail highlighting nickel.

Nickel Price Update: Q1 2025 in Review

Nickel prices have largely trended down since breaking US$20,000 per metric ton in May 2024.

The decline has been attributed to refined nickel oversupply, driven by high output from Indonesia, which mined an estimated 2.2 million metric tons of nickel in 2024 and accounted for more than 50 percent of global output.

The threat of US tariffs has also weighed heavily on markets that are reliant on nickel and its downstream products, such as the stainless steel and electric vehicle battery industries.

These factors pushed nickel to five year lows in the US$15,000 range in Q1.

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less
Diagonal rows of nickel rolls.

Top 3 ASX Nickel Stocks of 2025

With its diverse applications in both technology and industry, nickel is a metal that will never go out of style.

Nickel is commonly used in alloys to create stainless steel, but more recently has found a modern use: batteries. As the electric vehicle trend gains steam, the base metal is in high demand for its role in lithium-ion batteries.

Nickel has encountered much volatility in the past few years. After spiking to record highs in 2022, the nickel price has been on a downward trend on oversupply from top-producing country Indonesia and economic uncertainty dampening demand.

Tariffs could further disrupt the nickel market going forward, but whether that's to the upside or the downside remains to be seen.

Against that backdrop, some Australian nickel companies are still making moves. Here the Investing News Network has listed the top nickel stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on April 9, 2025, and all companies had market caps above AU$5 million at that time. Read on to learn more about them.

Keep reading...Show less
Ni-Co Energy

Ni-Co Energy

Keep reading...Show less
Nickel block on periodic table, highlighting element nickel, atomic number 28.

Western Mines Completes Maiden Resource for Mulga Tank Nickel Deposit

Western Mines Group (ASX:WMG) has completed the first mineral resource estimate for the shallow disseminated nickel sulphide mineralisation at its flagship Mulga Tank project.

Located on the Minigwal greenstone belt in Western Australia's Eastern Goldfields region, Mulga Tank is a nickel, cobalt, copper and platinum-group metals (PGMs) project.

According to Western Mines, the resource estimate is based on all of its drill results to date, and outlines a "significant mineralised zone" in the main body of the Mulga Tank complex.

Keep reading...Show less
Nordic Resources

Nordic Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×