September 2024 Quarterly Report

Nordic Nickel Limited’s (“Nordic Nickel” or “the Company”) (ASX:NNL) flagship 100%-owned Pulju Project is located in the Central Lapland Greenstone Belt (CLGB) of Finland, 50km north of the town of Kittilä, with access to world-class infrastructure, grid power, a national highway and an international airport. Pulju is a rare, district scale nickel-copper-cobalt exploration and development opportunity in a progressive mining jurisdiction in Europe. Finland is also home to Europe’s only nickel smelters.

HIGHLIGHTS

• Excellent first-pass metallurgical test results for the Hotinvaara deposit were released post Quarter end.
  
  • Premium concentrate can be produced with good nickel and cobalt recovery.
  • Positive ramifications for the entire Pulju project.
• Further Bottom of Till (“BOT”) drill sample results from the Pulju Project area acquired from the Geological Survey of Finland (GTK) during the Quarter.
  • Database now contains over 13,000 samples, a source of data previously unknown to the Company.
  • Excellent geochemical targeting information, detailed analysis is ongoing.
• Detailed summer mapping program to prioritise future drilling targets completed during the Quarter.
• Board re-structure and other cost saving measures were implemented during the Quarter.
• An additional A$1.05M in funding was raised during the Quarter via an undiscounted private placement to existing shareholders.
• Discussions with potential strategic partners at Pulju are ongoing.

Pulju Nickel-Copper-Cobalt Project

The known nickel mineralisation in the CLGB is typically associated with ultramafic cumulate and komatiitic rocks such as those at Pulju, with high-grade, massive sulphide lenses often associated lower grade disseminated sulphides. The disseminated nickel-cobalt at Pulju is widespread both laterally and at depth and indicates the presence of a vast nickel-rich system.

Following the conclusion of the 2023 drilling campaign, in March 2024, Nordic Nickel reported an updated in situ Mineral Resource Estimate for the Hotinvaara Prospect at the Pulju Project which comprises 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 Cu1. However, the drilled footprint at Hotinvaara represents just 2km of the known 35km of strike within the known mapped, mineralised ultramafic unit at Pulju, highlighting the potential for significant resource growth.

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 disseminated nickel sulphide ore. Europe’s only other smelter is Terrafame’s 37ktpa Sotkamo smelter, located 560km south-east of Pulju which processes ore from the nearby Talvivaara nickel-zinc mine.

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.