Nordic Nickel’s 28-hole drilling campaign in 2023 has now more than tripled the in-situ contained nickel estimate at its Pulju project. Pic via Getty Images
Mining
Special Report: Nordic Nickel’s new resource for the Hotinvaara prospect – which now sits at 418Mt @ 0.21% nickel or 862,800t of contained nickel – represents just 5km2 or 2% of the total 240km2 area within the wider Pulju project.
Nordic Nickel (ASX:NNL) has updated the in-situ mineral resource estimate for the Hotinvaara prospect in Finland following an extensive and highly successful 2023 drilling campaign designed to identify exploration opportunities beyond the previously drilled areas.
The threefold increase in tonnages and contained metal to 862,800t establishes Pulju as a globally significant nickel sulphide project, particularly given its proximity to the fast-growing European battery materials and EV sector.
Hotinvaara is one of nine prospective zones scattered throughout the Pulju project within the Central Lapland Greenstone belt, 50km north of Kittilä, with access to infrastructure, grid power, national highway, an international airport and – most importantly – Europe’s only two nickel smelters.
The municipality of Kittilä also hosts western Europe’s largest gold mine, Suurikuusikko, operated by Agnico Eagle.
NNL managing director Todd Ross says that although this is an in-situ mineral resource estimate (MRE) with further work already underway to establish its economic potential, the new resource clearly outlines the size of the disseminated sulphide system – which remains open in almost all directions.
“It is also particularly significant that the updated MRE represents just 2% of our overall landholding in north Finland,” he says.
“Our geology team believe this represents a clear marker or pathfinder to potential zones of higher-grade mineralisation, as well as delineating a major deposit in its own right.”
NNL’s focus over the coming months will be further evaluation of the disseminated mineralisation.
Ross says the discovery of a significant zone of Sakatti-style mineralisation at Pulju could quickly transform the project and elevate the importance of the disseminated mineralisation already defined.
“We believe that Pulju is a project that is perfectly positioned to benefit from what we expect to be a significant recovery in the global nickel market in the coming years as the Western World seeks new sources of Class-1 nickel,” he says.
“There aren’t many new mines in this part of the world to meet that demand – and that’s where projects like Pulju come in.
“This updated MRE sets a very strong value foundation for Nordic Nickel and provides us with an excellent launch pad to move forward into our second year of operations in Finland.”
NNL has a busy year ahead with more drilling, metallurgical test work and other strategic developments that could significantly enhance Pulju.
Planning is under way to refine the next phase of exploration, with an emphasis on potential high-grade targets within the vast disseminated nickel sulphide complex.
This article was developed in collaboration with Nordic Nickel, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
