Join our daily newsletter At The Bell to receive exclusive market insights
- Nordic Nickel (NNL) progresses its maiden drilling program, completing one hole at its flagship Pulju nickel project in Finland
- The company says visual observations of the drill core reveal widespread sulphide mineralisation and increases the known footprint of prospective host rocks
- Nordic’s third drill hole, which is still progressing, intersected around 30 metres of semi-massive and net-textured sulphides
- The company plans to complete around 22,000 metres of drilling over the course of the next 14 months
- Nordic shares are up 11.1 per cent, trading at 40 cents at 1:30 pm AEDT
Nordic Nickel (NNL) has completed drilling the first hole of its maiden program at its flagship Pulju nickel project in Finland.
Drilling at the project in the Central Lapland Greenstone Belt of Northern Finland began at the start of this year and the next two drill holes are in progress.
While assay results for the first hole are pending, the company said visual observations of the drill core indicated widespread sulphide mineralisation and increased the known footprint of prospective host rocks.
The company confirmed the prospective ultramafic rocks were widespread, containing several intrusive and subvolcanic phases evident and at a greater depth than historically drilled. Layered volcanic and sedimentary rocks with hydrothermal alteration and veining were also present.
Minor intervals were found to contain intense disseminated, net-textured, semi-massive and veined sulphides, mainly pyrrhotite (iron-nickel sulphide), but also pentlandite (nickel sulphide) and chalcopyrite (copper sulphide).
Nordic’s Managing Director Todd Ross said the observations provided an exciting start to drilling at the historically defined Hotinvaara mineral resource estimate (MRE) area.
The first assay results are expected within the next eight to ten weeks and Mr Ross said the initial drill holes will help improve the understanding of the broader geology at Hotinvaara to plan ongoing drilling and exploration programs over the next 14 months.
Two rigs were set up at the project, and with the first drill hole complete, the company will shift its focus towards the other two which it said are progressing as planned.
Drill hole three has intersected a zone of semi-massive and net-textured sulphides over a roughly 30 metre interval from 140 metres downhole.
Nordic’s drilling efforts are focused on the discovery of massive nickel-copper sulphide mineralisation, similar to that of nearby world-class Sakatti deposit, discovered by London Stock Exchange listed Anglo American in 2009.
Nordic shares were up 8.3 per cent, trading at 39 cents at 4:10 pm AEDT.
