Latest news with #NordicResources
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."
News.com.au
12-05-2025
- Business
- News.com.au
Resources Top 5: Manhattan Corp jumps out of the water on Canadian gold-copper buy
Manhattan Corp is acquiring the Hook Lake gold and copper project in an underexplored region of Canada Historical resources in Finland will be verified by Nordic Resources after it confirmed broad, high-grade drilling results The drill bit is spinning again at the Thomson project of Legacy Minerals in far west NSW Your standout resources stocks for Monday, May 12, 2025 Manhattan Corp (ASX:MHC) After reeling in a binding agreement to acquire the Hook Lake gold and copper project in a highly prospective yet underexplored region of Canada, including a 285,000oz non-compliant resource, Manhattan Corporation has jumped out of the water, more than doubling to 3.7c. This represents a new 12-month high and was 117.7% up on the previous close on volume of almost 67m. Hook Lake, which has remained largely dormant since 1988, hosts the Turquetil Lake High Grade Gold deposit and several further gold and polymetallic volcanogenic massive sulphide (VMS) prospects in remote eastern Nunavut. Previous drilling defined a non-JORC estimate of 3.4Mt at 2.38g/t golf for ~285,000oz Au over a 940m strike length at Turquetil Lake and there is considerable exploration upside as it remains open in all directions, including down plunge and dip. The estimate is considered to be a 'Foreign' estimate and is not reported in accordance with the JORC code or previous iterations of acceptable reporting codes. Previous drill testing was only to a maximum of ~190m vertical depth and results include: 27.58m at 3.33 g/t Au from 44.35m, including 13.01m at 6.29 g/t from 53.04m; 15.2m at 4.50 g/t from 14.70m; 52.78m at 3.38 g/t from 89.22m, including 46.22m at 3.80 g/t from 89.78m; and 16m at 5.04 g/t Au from 52m. Hook Lake also includes the Heninga Lake prospect, a VMS system that has previously returned results of 10.51m at 2.91% copper, 6.70% zinc, 95.67 g/t silver, 1.04 g/t gold and 0.48% lead from 41.76m, and 13.71m at 1.51% Cu, 2.06% Zn, 47.23 g/t Ag 0.56 g/t Au and 0.09% Pb from 70.26m. The project covers 423km2 in the underexplored Rankin-Ennadai Greenstone Belt, one of the Archean Greenstone Belts in Nunavut and about 130 to 225km southwest of Agnico Eagle's 6.7moz Au Meladine Mine (34.3Mt at 6.12 g/t Au). Other belts host the in-development Back River Gold District, Goose & George project hosting 9.2Moz at 6.04 g/t with an anticipated 310,000oz annual production. To support the proposed acquisition, MHC has appointed successful mining and resources industry company director and entrepreneur Gavin Rezos as a non-executive director and Eric Sondergaard as technical advisor. Rezos recently delivered significant value as the former founding chairman of Vulcan Energy Resources, which grew from a market cap of $10m to more than $1b. Sondergaard is responsible for sourcing and planning exploration at White Cliff Minerals' Rae project, also in Nunavut, delivering an exceptional hole consisting of 175m at 2.5% Cu from 7.6m and ending at 4.46% Cu, remaining open at depth. 'The acquisition of the project brings with it a highly experienced and successful team, expected to join Manhattan's board and management upon completion," Manhattan Corporation CEO Kell Nielsen said. "This team will play a critical role in unlocking value by advancing the historically defined high-grade Turquetil Lake gold deposit through modern exploration techniques and by honouring the current agreement with Inuit landowners. "Upon the transfer of the project, there is a clear pathway for Manhattan to test the mineralised system further along strike and at depth at Turquetil Lake and deliver near-term maiden mineral resources. "Shareholder value is further underpinned by the acquisition of 423km2 of underexplored Archean Greenstone Belts in northern Canada, a Tier-1 mining jurisdiction. The belt already hosts three large operating gold mines, evidencing nearby proven gold endowment and existing mines and infrastructure. "Archean Greenstone Belts like Nunavut, host much of the world's gold and mineral endowment such as the familiar and tightly held Superior Province (Canada), Yilgarn Craton (Western Australia) and the Birimian Supergroup (Africa). Hook Lake also provides Manhattan with the potential to discover large, district-scale BIF hosted gold deposits.' Nordic Resources (ASX:NNL) Making strong progress in validating the prospectivity of three Finnish gold projects being acquired from Swedish-listed Northgold AB is Nordic Resources, which is moving to verify historical resource estimates after confirming broad, high-grade drilling results. The company has found up to 5.31g/t gold while reviewing historical data at the soon-to-be acquired Kiimala Trend gold project and shares have been as much as 11.12% higher to 6c. Kiimala is 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 while historical, non-compliant gold resources have been 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 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. The company is also working to validate the historical exploration database for another of the projects, Hirsikangas, and potentially bring to JORC (2012) compliance. 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 the extensive Pulju nickel-copper sulphide project. '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. The proposed transaction is subject to shareholder approval at both Nordic and Northgold's upcoming general meetings, and is expected to complete in early June 2025. Nordic intends to begin its first drill program at Kopsa as soon as possible thereafter. The drill bit is spinning again at the Thomson project of Legacy Minerals in far west NSW following recent regional flooding which put a stop to activities. Drilling is targeting large gold-copper systems and Legacy believes there is a world-class discovery opportunity across the 5,500km2 belt-scale project and securities have been up to 10% higher at 22c. Thomson shares similar characteristics to other major intrusion-related gold and copper districts, such as Paterson Province in WA, where recent major IRG-Cu discoveries have been made at Winu and Havieron. The resumed drilling program has started at Cut B anomaly which is prospective for gold, silver and niobium. Historical 2011 drilling targeted the magnetic anomaly but didn't test the gravity anomaly, which can indicate increased sulphide abundance associated with an intrusion. Drilling has also been completed at the previously untested F4 anomaly with assays pending. In addition, a review of historical drilling results from Cut A led the company to conclude that the potential for IRG and IRG-Cu deposits had not been sufficiently considered nor tested historically - which presented a significant discovery opportunity. Further sampling (80m) and assaying is planned to be undertaken further up the hole between 216m to 136m. 'After the successful test of the F4 gravity and magnetic anomaly, our current focus is the Cut-B target; one of many discovery opportunities within the 5,500km² tenement at Thomson,' LGM CEO and managing director Christopher Byrne said. 'This campaign marks the first test of the gravity anomaly at Cut-B.' Waratah Minerals (ASX:WTM) Exploration at the Spur gold-copper project west of the massive Cadia Valley operation of Newmont Mining in the Lachlan Fold Belt of NSW will be accelerated after Waratah Minerals raised $8.4m in a placement. Firm commitments have been received for the placement to institutional, sophisticated and professional investors at $0.275 per share and the company is pleased with the strong demand from existing shareholders and new investors, including offshore resources funds. Waratah will accelerate exploration at the Spur Project, targeting epithermal gold and porphyry copper-gold, to follow up on recent encouraging drilling results. Specifically, the company will continue to focus on the Spur Gold Corridor, where epithermal gold mineralisation has been mapped 1km along strike, remains open in multiple directions and has strong similarities to the Dalwhinnie/GRE46 discovery at the Cowal deposit of Evolution Mining (ASX:EVL). Additionally, drilling will continue to investigate the Breccia West Prospect, where the nature of mineralisation, host rock and assay intercepts show strong similarities to the nearby Ridgeway deposit at Cadia Valley.. 'Waratah thanks its shareholders for their strong and continuing support, while welcoming new institutional shareholders to our register,' Waratah managing director Peter Duerden said. 'This cash injection will accelerate our exploration activity targeting epithermal gold at the Spur Gold Corridor and porphyry copper-gold at Breccia West. 'It is very exciting to have these opportunities at a time of historically strong gold and copper prices, against a backdrop of heightened exploration efforts by the world's major mining companies across the Lachlan Fold Belt. 'With our strategic location, only 5 kilometres west of Newmont's Cadia Valley project, and our accomplished and dedicated team, we are ready and funded for a period of aggressive and systematic drilling that has the potential to unlock material value for shareholders.' Shares reached 34c, an 11.48% increase on the previous close. Locksley Resources (ASX:LKY) (Up – over past week – on no news) Basking in the glory of a positive update last week from the Mojave antimony and rare earths project in the US is Locksley Resources, which earlier climbed another 28.6% to 5.4c with around 42m shares changing hands. At close of play, mind, it had given up those gains. Mojave is about as well located as a critical minerals project could be in 2025, sitting just 1.4km from Mountain Pass, the only operating rare earths mine in the United States. Since Donald Trump's March 20 executive order calling for the US to boost domestic minerals production and Chinese export controls on the heavy rare earths in which it dominates supply, there's been fresh steam for explorers previously weighed down by weak NdPr prices. Locksley has already found rock chips grading up to 46% antimony and 1022g/t silver from the Desert antimony mine, part of the Mojave land package and has now formally submitted a drilling permit to the Department of the Interior's Bureau of Land Management. It is bullish that the permitting process could be fast-tracked following the EO, with the BLM confirming it will undertake any initial enviro assessment requirements that may have otherwise held up approvals for a 12-month period. This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Nordic Resources and Legacy Minerals are Stockhead advertisers, they did not sponsor this article.
Herald Sun
12-05-2025
- Business
- Herald Sun
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
