Resource Drilling Continues To Expand Mineralised Nickel Footprint At Pulju

Nordic Nickel Limited’s (“Nordic Nickel” or “the Company”) (ASX: NNL) is pleased to report further assay results from drilling completed at its flagship Pulju Nickel Project (the Project) in the Central Lapland Greenstone Belt (CLGB) of northern Finland.

HIGHLIGHTS

• Assays received for an additional three diamond drillholes with multiple wide mineralised intercepts returned in: HOT004, HOT005 and HOT010.
• Latest assay highlights include¹:
  • 25.7m @ 0.20% Ni from 179m; and
  • 86m @ 0.18% Ni from 286m in HOT004
  • 54m @ 0.19% Ni from 81.5m; and
  • 40m @ 0.19% Ni from 204m in HOT005
  • 37.4m @ 0.21% Ni from 231.6m;
  • 51m @ 0.17% Ni from 398m; and
  • 70m @ 0.18% Ni from 491m in HOT010
• Pervasive disseminated nickel sulphide mineralisation confirmed and supported via partial leach assay results.
• Peak assayed nickel grade from drilling to date of 4.66% Ni obtained in HOT006.
• Results support the potential to significantly expand the current Mineral Resource Estimate (MRE) at the Hotinvaara Prospect, with an updated MRE scheduled for later this year.
• The Hotinvaara Prospect represents just 2% of the total prospective mineralised belt within the Pulju Project.
• Twenty (24) diamond drillholes now completed for a total of 13,836.6m.

HOT004, HOT005 and HOT010 all encountered multiple near-surface disseminated sulphide zones that complement and extend disseminated sulphide zones and discrete zones of semi-massive and net-textured massive sulphides intersected in previous drilling². The grade of the mineralisation intersected is consistent with the current Mineral Resource Estimate (MRE) for Hotinvaara of 133.8Mt @ 0.21% Ni and 0.01% Co³.

The Phase 1, 22,000m drilling program at Hotinvaara is focused on a dual exploration strategy of targeting high-grade massive nickel-copper sulphides of a similar style to the nearby world-class Sakatti Deposit and bulk tonnage-style disseminated nickel sulphide mineralisation with the potential to host long-life Mineral Resources.

Management Comment

Nordic Nickel Managing Director, Todd Ross, said: “Our maiden drilling campaign at Pulju continues to deliver, with consistently wide zones of disseminated nickel sulphide mineralisation returned in the latest batch of assays from three diamond drillholes, HOT004, HOT005 and HOT010. These latest results continue to confirm historical drill results within the current 133.8Mt MRE, while importantly also stepping out significantly beyond the current MRE boundary.

“Pulju is continuing to emerge as a very large nickel sulphide project, with all drilling completed to date pointing to a significant increase in the MRE, due for an update later this year.

“In addition, we are pleased to see indications of higher grade zones beginning to show through in the drilling, with a peak assay of 4.66% returned in HOT006. This shows that the system is capable of hosting higher grade zones, and finding larger accumulations of these zones remains a core objective of our exploration program. It is also worth noting that the current drill program and MRE covers just 2% of the total area of the Pulju Nickel Project, highlighting the enormous scale of the opportunity in front of us.”

Figure 1. Collar plan showing Nordic Nickel’s drilling (green dots) and historical drilling (black dots). Composite assay intersections highlighted (cut-off: >1,500ppm Ni-total; max. 6m internal dilution). Nordic Nickel’s assay results highlighted in blue and red. Cross-sections A – A’, B – B’ and C – C’ see Figs. 3, 4 & 5, respectively.

Drillhole summaries

The assay results from the 2023 diamond drilling campaign have confirmed those from the historical drilling at the Hotinvaara Prospect, while also increasing the mineralised footprint of the deposit and geological confidence levels in the current Mineral Resource Estimate (MRE) (Figure 2).

Significantly, near-surface disseminated nickel mineralisation has been intersected consistently along with narrow high-grade intersections. Following is a brief description of the three new drillholes, HOT004, HOT005 and HOT010. Full details of the assay results are provided in Appendix 1.

Figure 2. 3D oblique view highlighting Nordic Nickel drilling (purple traces) and historical drilling (black traces) overlain on JORC (2012) MRE block model. Weighted average composite nickel intersections highlighted by blue (Ni-sulphide/Ni- total>50%) and red cylinders (Ni-sulphide/Ni-total<50%). Cut-off: >1500ppm Ni-total with max. 6m internal dilution.

Drillhole HOT004

HOT004 was positioned toward the northern portion of the mineralised zone to extend the continuity of the mineralised ultramafic packages. More specifically, HOT004 was designed to intersect mineralised serpentinised ultramafic packages by targeting a distinct gravity low (often associated with serpentinised ultramafics), between two known in-situ MRE shells, to facilitate resource expansion (Figure 1).

Discrete, geological and geophysical targets controlled the hole design, whereby deep westerly drilling was required not only to constrain the geometry of the ultramafic and extent of mineralisation in the area; but also, to develop an understanding of the host stratigraphic package. Additionally, the hole tested the basal footwall contact together with a series of EM conductor plates derived from surface geophysical surveys (FLEM) and down-hole EM from prior holes (BHEM).

Drillhole HOT004, intersected a lithostratigraphic package representative of, and analogous to, other drill holes within the system, portraying robust geological continuity. The upper portions of the hole displayed this typical volcanic to sub-volcanic depositional setting, interleaved and intercalated with; serpentinised, mineralised and metasomatised meta-peridotites (ultramafics) (Figure 3; Table 1).

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