Latest news with #NordicResources
News.com.au
a day ago
- Business
- News.com.au
Break It Down: Nordic Resources appoints country manager in Finland
Nordic Resources appoints Henrik Grind as country manager to oversee the company's exploration across its Finnish portfolio.
The Australian
30-07-2025
- Business
- The Australian
NNL eyes golden jackpot in Finland
Nordic starts diamond drilling in Finland to test shallow extensions of gold mineralisation at its Kopsa project Drilling will also test deeper anomalies under the existing resource and further along strike Company will additionally drill selected targets at the Kiimala Trend project area Special Report: Nordic Resources has launched diamond drilling to test shallow targets for near-surface extensions along strike of existing resources at its Kopsa copper-gold project in Finland. Kopsa is the largest of the company's three gold resources in the Middle Ostrobothnia Gold Belt of Finland and has a resource of 23.2Mt grading 1.09g/t gold equivalent, or 814,800oz of contained AuEq. Besides testing the shallow targets, the drill program of ~5000m will also explore deeper extensions of the system for the first time and gather samples for detailed metallurgical testing. Nordic Resources (ASX:NNL) also plans to test certain gold prospects within the Kiimala Trend project area – another of the three resources in the MOGB. It follows the company defining a maiden resource of 264,000oz gold at the Hirsikangas project earlier this month, taking its total inventory up to 1.23Moz. The Finland gold projects. Pic: Nordic Resources Gold projects The Kopsa, Kiimala Trend and Hirsikangas projects sit within the MOGB, which contains a number of gold and base metal deposits that are structurally controlled by the Raahe-Ladoga Trend. It represents a geological extension to the Gold Line and associated VMS trend seen in neighbouring Sweden though it is relatively underexplored on the Finnish side. All three of the company's projects have significant exploration upside and are located within 75km of each other. There is a significant level of development optionality as the MOGB region hosts two third-party processing plants. More from NNL: Nordic embarks on discount Finnish gold dig First Quantum Minerals' 1.4Mtpa Pyhasalmi copper-zinc-pyrite processing plant remains in reduced operation and is 40km to the east of Kopsa while the formerly operating gold mine and plant at Laiva is 120km to the northwest. While the 2.2Mtpa Lavia plant is relatively new, having been completed in 2012, it is currently on care and maintenance. Both existing plants, or a standalone plant at Kopsa, would be potentially accessible by road or road/rail from the Kopsa, Kiimala Trend and/or Hirsikangas projects. NNL's diamond drilling will include about 4500m to test near-surface extensions along strike at Kopsa along with testing previously undrilled geophysical anomalism underneath the known mineralisation and anomalies further along strike for potential near-surface satellite deposits. The company also plans to carry out 500m to 1000m of drilling to test the least two of the known gold prospects at Kiimala Trend. 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.
The Australian
14-07-2025
- Business
- The Australian
NNL fields 264,000oz Hirsikangas resource
Maiden Hirsikangas mineral resource estimate of 264,000 ounces 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.
News.com.au
23-06-2025
- Business
- News.com.au
Thanks a Million: These five ASX gold hopefuls are closing in on the 1Moz milestone
Cracking a million ounces is a trigger for investors to sit up and take notice of a gold junior Nordic Resources is on track to join the club soon at its Kopsa, Kiimala Trend and Hirsikangas projects in Finland's Middle Ostrothbonia gold belt A number of other ASX juniors are also knocking on the door For yonks the hurdle to be considered a serious development prospect in the ASX gold sector has sat in and around the 1Moz milestone. Not only is it a clean, visually enticing number, the million ounce mark suggests a deposit with serious scale and development potential – portending a mine with the potential to do 100,000ozpa over a decade. This isn't the sort of project that makes a few quick bucks to avoid dilution and keep the rigs turning. It's the sort that can pull in a big-name suitor, score a rerate, fund real growth or bankroll a dividend, a true company maker. Nordic Resources (ASX:NNL) could well be the next cab off the rank after pivoting from its sole focus on battery metals in northern Finland to the Middle Ostrothbonia belt in the south, where it now holds a dominant position in one of the country's most prolific yet underexplored gold domains. Its flagship project is Kopsa, which contains a resource of 23.2Mt at 1.09g/t gold equivalent for 814,800oz on a gold equivalent basis, including 631,100oz of gold metal and a further 38,360t of copper. At the nearby Agnesneva, part of the Kiimala Trend project, NNL recently tabled a gold-only resource of 3.85Mt at 1.19g/t for 147,000oz. All up that's 961,800oz in gold equivalent resources. The next catalyst, to push NNL beyond the 1Moz milestone at its newly acquired assets, could come from two places. Firstly, the Hirsikangas project, where a JORC 2012 compliant resource is yet to be tabled but where 11,400m of historic drilling including shallow intersections like 71.3m at 1.12g/t from 7.3m and 44.2m at 1.45g/t from 12.7m have has been completed. Then, there is the rich potential of Kopsa itself, which almost certainly gets bigger from here with just 25,000m of drilling completed to date and NNL planning 4500m in its 2025 program. "With (Hirsikangas), we're not simply validating what was done in the past, we're recreating it ourselves to make sure, because I think it's a lot bigger than what we thought it would be," NNL exec director Rob Wrixon said. "Plus ... all that drilling is just clustered up in the northwest and the rest of that mag trend there's sporadic drilling. "There's a lot of upside there. I was thinking we might get over 1Moz once we drill out Kopsa. I was pretty sure of that. "But now I think Hirsikangas will get us over there, because it looks like it's hanging together quite well for a good resource." Critical mass When a deposit or cluster of deposits in close proximity hit the big million, the news tends to trigger a couple things. Any rerate is significant because it has the potential to open up the register to a new class of investor, should a junior's share price rise in lockstep with its resource growth. That brings more stable, long-term investors into the stock and, if the rerate is strong enough, index inclusion and passive investment flows. "Being able to tick that box and say we've got over 1Moz in resource inventory is important," Wrixon said. " I think for some investors, people who follow you, that's important as well." For Nordic, it all revolves around processing options. There are two operating mills in the area, one of them – Laiva – specifically designed to handle gold bearing ores. Laiva is undergoing a sale process at the moment to CSE listed Edgemont Gold Corp, boosting the suddenly very competitive landscape in southern Finland's gold scene. Hong Kong-listed Dragon Mining, which ships its gold concentrate to a plant in Sweden, is also active and facing a takeover bid led by well-known resources investor APAC Resources. Kopsa and NNL's nearby Kiimala Trend and Hirsikangas projects could well become lynchpins of the broader Finnish gold scene. Crossing the million ounce mark is a big deal not just for the sake of the number. It also places Kopsa and Nordic's potential satellite projects as the centrepiece of a likely standalone processing development. "Position A is you get well over 1Moz at Kopsa alone and it justifies a standalone plant there, and if you want to process stuff from the – currently – smaller deposits ... you have a central processing plant which is yours," Wrixon said. " You have optionality with other plants where you could get started earlier with toll treating. "This is the beauty of this regional gold strategy. You don't necessarily need 2Moz at Kopsa. "You can get to 1-1.5Moz at Kopsa and supplement it with 1Moz at the other two places as well, you have that resource base to be able to build a plant. "1Moz is great for us and it'll be a great milestone. But it's really how it all comes together with the processing options." That 1Moz-plus could go further in Finland than elsewhere. The region is blessed with cheap power – as little as 1c/KWh thanks to its mix of nuclear, renewables, coal and hydro. Skilled labour is cheaper than Australia as well, while the countries are connected by one of the world's most efficient road and rail networks. "These countries have first world infrastructure but a very low cost base," Wrixon said. Drilling is due to begin at Kopsa in July, with Kiimala Trend also expected to be the focus of the upcoming campaign. Four more heading for 1Moz African Gold (ASX:A1G) A1G's Blaffo Guetto deposit in Côte d'Ivoire is now oh, so close to the magic million, with an update on Monday lifting its resource 119% to 989,000oz at 2.5g/t gold. With a bit of creativity it has claimed the million ounce milestone at a lower cut-off grade. But the official resource is close and likely to get bigger, with A1G sitting on plenty of cash after a recent investment from the Zijin and Lundin backed Montage Gold Corp. It has $12m in cash and equivalents to support another round of resource extension drilling, with Blaffo Guetto so far only tested to a depth of around 300m. Great Boulder Resources (ASX:GBR) Has publicly declared its intention to chase not just 1Moz but 1.5Moz at its Side Well project on the doorstep of the town of Meekatharra in WA's Mid West. Long regarded as a potential takeover target for Westgold Resources (ASX:WGX) given its proximity to the company's Bluebird plant, which is hungry and comes at a scale of 1.8Mtpa. Side Well contains two discrete deposits. The largest, Mulga Bill, contains 568,000oz at 2.7g/t Au, and could lend itself to development as a large open pit. The smaller but higher grade Ironbark contains 100,000oz at a grade of 3.3g/t. Mills owned by Meeka Metals (ASX:MEK) and TSX-listed Monument Mining are also well within trucking distance. James Bay Minerals (ASX:JBY) Technically its Independence gold project in Nevada, USA, is over 1Moz, though that includes a low grade near surface epithermal resource with oxide mineralisation that is being scoped as a heap leach. The larger, longer life skarn hosted high-grade resource clocks in at 984,412oz at 6.67g/t Au. Historic drill results 580m north of the skarn resource suggest similar high-grade mineralisation exists elsewhere on the site, which 550m of earth between the low grade surface resource and deep, high grade skarn deposit remains untested in the Lower Pumpernickel formation. There is also unclassified mineralisation both at surface and depth which is yet to be included in the mineral resource estimate. Emmerson Resources (ASX:ERM) A scoping study is currently underway at the White Devil deposit near Tennant Creek in the Northern Territory, the discovery that has transformed Emmerson into a serious player. The company has a processing and mining JV with London-listed Pan African Resources, which recently opened the Nobles processing plant. While it garners a lucrative royalty on most of the deposits in the JV, White Devil contains 611,400oz, well beyond the 250,000oz mark defined as a major mining deposit under the terms of the Tennant Creek JV. That means Emmerson could eventually claim a 40% contributing interest once the deposit is read to be mined. A scoping study is underway. The growth of White Devil this year has taken Tennant Creek's resource base to 987,000oz, with 820,000oz added in the past 12 months alone. Most of that is indicated, signalling a degree of confidence in the drilling that enables the resources to be placed into a mine plan and ore reserve.
News.com.au
05-06-2025
- Business
- News.com.au
Backing Winners: Why Malcolm Norris leapt at the opportunity to join Nordic's Finnish gold expedition
Backing Winners is Stockhead's recap of executives with a solid track record looking to replicate the success of their previous roles. Today we hear from Nordic Resources non-executive chairman Malcolm Norris, who has joined the company just days before a potential company-making Finnish gold acquisition. Malcolm Norris may be best known to Australian investors as a titan of the South American exploration game. A pioneer who lifted the lid on the exploration secrets of the underexplored porphyries of Ecuador with the discovery of SolGold's Cascabel copper-gold-silver deposit and then Sunstone Metals (ASX:STM), what has led him to a new role as the non-executive chairman of Finland focused Nordic Resources (ASX:NNL)? And why does he think they have the potential to quickly become the ASX's next million ounce gold prospect? Norris' legacy as a geologist spans four decades, dating back to his time leading Western Mining Corporation brownfields gold and nickel exploration in WA and the Tanami. For the past 15 years his name has been synonymous with porphyry hunting in the Ecuadorean Andes and Indonesia, where he was part of the Intrepid Mines team that found the Tujuh Bukit copper project. But his time at the head of Sunstone included a four year period deeply entrenched in the precious and base metals sectors of Scandinavia, first in Sweden before a sojourn to gold prospect in Nordic's focus jurisdiction of Finland. "The reason that we got involved in Scandinavia in the first place was that the copper project, which is called Viscaria, we thought was a really good development opportunity and that would form a foundation for the company," Norris told Stockhead in an interview. "So we started off doing that and then the copper price fell, we couldn't raise money. "We went off and looked for gold and lithium opportunities in Scandinavia more broadly, and we ended up in Finland. And we explored for gold and lithium in Southern Finland. "So I'm very familiar with how to operate in Finland, very familiar with the exploration and development landscape in Finland and so I followed what the Nordic Resources guys have been doing." The call Norris' interest in Nordic goes back to its IPO days in 2022, when NNL, then known as Nordic Nickel, hit the bourse with the now 862,800t nickel, 40,000t copper and 22,100t cobalt Pulju project. His interest was piqued again when he heard of the company's latest bold move this year – the acquisition of three gold projects in Finland from Sweden based Northgold, including the ~815,000oz gold equivalent Kopsa project. A maiden resource estimate of 147,000oz at Agnesneva in the separate Kiimala Trend project has already been posted by NNL, taking its bounty to 961,800 gold equivalent ounces from a deal with a cash component of just $330,000 along with 70 million shares. A third project in the Middle Ostrobothnia Belt of central Finland, Hirsikangas, has a non-JORC resource that presents low hanging fruit for an upgrade. That acquisition closed yesterday, with drilling to begin at Kopsa by the end of July. "They did a really good deal. These are three projects, one of which is quite advanced at Kopsa, with a good resource base (and) in my opinion, plenty of opportunity to grow," Norris said. " And it's geologically a belt of rocks that is very highly prospective. "This belt of rocks in Finland is related to a similar belt across in Sweden and that belt has been a long-term historical mining and exploration belt. "So the upside is significant." Norris responded to the news by picking up the phone to NNL executive director Rob Wrixon, a discussion which progressed to bringing the exploration export on board as chair. Officially starting in the role on June 1, Norris' entry to the role rounds out the NNL board's expertise with one of the brightest exploration minds in the Australian resources market. "The role that I'm taking on at Nordic, it's very much about making sure that the exploration process is managed appropriately and implemented appropriately and that you call on your experience to make sure you don't miss anything," Norris said. " And I think Rob is very much focused on taking this down the development path and he's well qualified to do that and he'll call on me to get involved with some of the geologists in the team." 1Moz opportunity The exploration opportunity screens, immediately, as a huge one. Kopsa already hosts a substantial resource, even before considering Kiimala Trend and the pre-resource Hirsikangas projects. Some 283,200oz of gold equivalent (226,800oz gold, 11,780t copper) are already in the very high confidence measured category and 278,400oz AuEq (211,100oz Au, 14,060t Cu) are in the indicated category. All of that is of a high enough confidence level to report to mineable reserves. But it's important to remember just 23,400m of drilling has been completed at Kopsa, 6600m in the past three years. With the support of institutional backing in the form of a recent $3.5m placement, Nordic will have $6m in the bank from Aussie and international investors to greatly expand that exploration focus. On the announcement of the deal NNL pledged 4500m of drilling into Kopsa, which Norris thinks can get much larger than it currently is ... and fast. "There's going to be opportunities for upside within the current area of drilling – hopefully that's grade related – but there's absolutely opportunity on the belt," Norris said. " There are geophysical anomalies that sit around the main area of drilling, there's the belt but trends northeast-southwest which is the sort of subsidiary structure that is of interest. "So there's opportunity at various scales, within the deposit, immediately surrounding where there's defined geophysical targets and then broader still where you go into the more conceptual geological targets. " If there's gold at Kopsa then there should be gold at this nearby feature that is similar to Kopsa." Growing that resource base further will take $13 million capped Nordic to a scale where it can be considered by a new class of investors. "We're going to take it over that million ounces very comfortably and that means you join a club of deposits that make people sit up and look at them," Norris added. "And then there's also upside on the other two projects that have been picked up as part of this package as well." A great place to operate Oft overlooked, Norris says Finland's rich mining heritage has close parallels to that of Australia's base metals rich east coast. Famous for having one of Europe's largest militaries, conscripting youth cognisant of its 1340km long border with Russia, Finland has long known the importance of its critical mineral sector and ranks among the top 20 jurisdictions globally as per the Fraser Institute's Investment Attractiveness Index. "If you look at the history of the great mining centres in Australia, and Mt Isa is a really good example, a lot of people from Finland were involved in that early development 100 years ago," Norris said. "Finland being part of the whole EU debate around the EU being more self-sustaining with regards to metals is valuable and they're really keen to be part of that. "And one of the interesting things about Kopsa and these other couple of deposits is that they're gold deposits, but they have a pretty significant byproduct in copper. "It looks like probably 10% to 15% of the value of these deposits will be in copper, and that's a really valuable add-on, particularly when it comes to developing and permitting and getting involved in this whole EU approach to critical metals." With time often "the enemy" when it comes to developing projects, Norris is confident Nordic Resources can find a pathway to prove up its Finnish gold assets quickly. "As you head further north in Finland, you have a few more environmental and other challenges, whereas in central Finland, in an area where mining has been going on for decades, the general social acceptance of mining is greater," Norris said. "I think it's just a matter of following those steps for permitting. I don't see it as a really challenging area for developing a mine."
