NNL verifies extensive gold at 2nd Finnish project
Nordic Resources' 'secondary' gold project is turning out to be a head-turner
Kiimala Trend project intersections include 122m @ 1.52g/t gold close to surface
Data review at the Angesneva prospect also discovered 5.31g/t gold over 15m
Project hosts a cluster of 12 gold prospects and two non-compliant resources
Company plans to update historical resources and start drilling at the flagship Kopsa project after the acquisition is complete
Special Report: Nordic Resources has found up to 5.31g/t gold while reviewing historical data at the soon-to-be acquired Kiimala Trend gold project in Finland.
The project is the second of three gold being acquired from Northgold AB, a Swedish-listed gold exploration company, all located together in the same region of Finland.
Kiimala looks likely to become an important part of the company's regional gold strategy, lying just 45km from the Kopsa project that hosts a near-surface resource of 23.2Mt at 1.09g/t gold equivalent for 814,800oz gold equivalent.
While Kopsa remains the primary project, Nordic Resources (ASX:NNL) also considers the Kiimala Trend to be extremely prospective for gold and copper.
The project hosts a cluster of 12 gold prospects, of which eight have been drilled with all eight reporting some significant near-surface gold intersections and historical, non-compliant gold resources reported at the Angesneva and Vesipera prospects.
The data review highlighted intersections at Angesneva of:
122.4m at 1.52g/t gold and 0.12% copper from 57.2m
79.8m at 1.85g/t Au and 0.18% Cu from 127.8m; and
73.7m at 1.73g/t Au and 0.13% Cu from 247.2m incl. 15.2m at 5.31g/t Au and 0.31%
Cu from 272.1m.
Intersection highlights at Vesipera include 10.4m at 4.93g/t gold from 53.5m and 12m at 2.99g/t from 88m.
And the Kimala prospect returned 17.3m at 2.27g/t gold and 0.28% copper from 42.6m, and 9m at 1.46g/t Au and 0.02% Cu from 182.4m. Apart from Angesneva and Vesipera, the remaining prospects have received little to no drilling.
The company's review of the Hirsikangas gold project is ongoing.
Location of the three gold projects shown over a geological map of Finland. Source: NNL.
Updating historical resources the next step
All three of the projects being acquired are advanced and represent substantial near-term upside to NNL's strong operational platform in Finland – while the company continues its earn-in and joint venture discussions around its extensive Pulju nickel-copper sulphide project.
Watch: Finnish trio to bolster the NNL portfolio
The company is also working to validate the historical exploration database for another of the projects, called Hirsikangas, and potentially bring to JORC (2012) compliance.
'With regard to its recently announced gold project acquisitions, Nordic is focused on further exploration and development of the substantial Kopsa gold-copper project as the near-term priority,' executive director Robert Wrixon said.
'However, the exploration upside at the Kiimala Trend project is hard to ignore as it is an extremely strong gold project.
'We look forward to updating the market further as this validation work progresses.'
The proposed transaction is subject to shareholder approval at both Nordic and Northgold's upcoming general meetings, expected to complete in early June 2025.
And Nordic then intends to commence its first drill program at Kopsa as soon as possible thereafter.
This article was developed in collaboration with Nordic Resources, 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.
Originally published as Nordic Resources verifies extensive gold at second soon-to-be acquired project
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