NNL fields 264,000oz Hirsikangas resource
Third Finnish project resource adds 34% to total ounces, now 1.23Moz
All three projects underexplored with straightforward access to processing plants
Special Report: Nordic Resources has fielded a mineral resource for all three of its Finnish projects, bringing the total combined gold resource to 1.23 million ounces.
Similar to the Kopsa and Kiimala Finnish projects, NNL's exploration at Hirsikangas has revealed it to be a near-surface orogenic gold deposit with plenty of exploration upside.
The new mineral resource, pegged at 264,000 ounces of gold, was generated from only 2.5km of a potential 10-kilometre-long strike, offering parallel underexplored geological structures which may also host gold.
Nordic Resources (ASX:NNL) executive director Robert Wrixon said that while Hirsikangas had been somewhat of an unknown compared to the company's focus on the Kopsa project, it had proven highly prospective.
'Just like Kopsa and Angesneva, the gold resource at Hirsikangas essentially starts from surface and is far more substantial than previously understood by NNL, with obvious exploration upside,' Wrixon said.
'The addition of Hirsikangas brings the total gold equivalent resource inventory to 1.23Moz gold equivalent, with 66% in the measured and indicated categories.
'The company's 'gold only' resources have also increased to over 1Moz. Hirsikangas and Angesneva, with their proximity to Kopsa, add significant value to the regional development options currently under consideration.'
Watch: How Nordic picked up the golden projects
Middle Ostrobothnia Gold Belt projects
Nordic Resources' three Finnish gold projects all sit within the Middle Ostrobothnia Gold Belt within the Raahe-Ladoga Trend.
The area is associated with a geological extension to a known gold volcanogenic massive sulphide trend in Sweden that hosts more than 10 deposits.
There are two processing plants in the region – the 1.4Mtpa Pyhasalmi copper-zinc-pyrite processing plant 40km to the east of Kopsa, and the formerly operating gold mine and plant at Laiva, 120km to the northwest.
The Hirsikangas project is home to a 10km portion of the Himanka Volcanic Belt, host to the project's maiden mineral resource.
Location of NNL's recently acquired gold projects shown over a map of Central Ostrobothnia. Pic: NNL
Next exploration steps
NNL has yet to drill test some 7.5km of the Himanka Belt at Hirsikangas, but has already identified two additional gold prospects at Hanni and Hanni SE.
Tenement map for the Hirsikangas gold project, showing the locations of the main Hirsikangas deposit and the Hanni and Hanni SE gold occurrences. Pic: NNL
The mineralisation at Hirsikangas has been consistently broad, grading up to 71.3m at 1.12 g/t gold from just 7.3m of depth but also demonstrating strong continuity at depth, with drill hits up to 80.2m at 1.71 g/t gold from 110.6m.
Nordic Resources is particularly interested in a parallel structure 200m to the northeast of the main Hirsikangas deposit, which generated drill hits of up to 23.1m at 1.67 g/t gold from 35.9m.
There's also some potential in a magnetic trend to the southeast at Hanni, where historical drilling by previous explorers hit intersections of 2.5m at 4.84g/t gold from 35.4m and 5.1m at 3.19 g/t gold from 90.3m.
Further exploration at Hirsikangas will have to wait for now – Nordic will mobilise the drill rig to the Kopsa gold-copper project in two weeks.
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.
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