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Nordic Resources Limited (ASX:NNL)

ALERT: Price-sensitive ASX Announcement for NNL
Current share price for NNL : $0.170 -0.005 (-2.86%)+
Announcement
Release
12 Oct 2026 8:24AM
Price at Release
$0.175
Full Release
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Summary
Nordic Resources Limited (ASX: NNL) announced an interim JORC (2012) Mineral Resource Estimate update for its Kopsa gold-copper-silver deposit in Central Finland, lifting the pit-constrained resource to 44.03Mt at 1.07g/t AuEq for 1.52Moz AuEq within an optimised pit shell using a 0.4g/t AuEq cut-off, with 86% of ounces in Measured and Indicated categories and 97% of the in situ resource captured by the pit shell, supporting shallow open-pit potential with an estimated life-of-mine strip ratio of about 4:1. The update incorporates 9,631m of drilling completed to end July 2026 and adds silver to the AuEq calculation for the first time, with recoveries and pricing assumptions based on recent metallurgical work showing conventional processing potential through flotation and leaching. The company highlighted strong growth at Kopsa, including an 86% increase in the MRE from the interim drilling update, a higher-grade near-surface central stockwork zone that may support a starter pit, and ongoing expansion potential as the deposit remains open in most directions and at depth, with a new 12,000m drill program underway. Across NNL’s three neighbouring Middle Ostrobothnia Gold Belt projects, total company resources now stand at 55.2Mt at 1.09g/t AuEq for 1.93Moz AuEq, with nearby processing plants at Pyhäsalmi and Laiva providing potential development optionality.
Key Points
  • Kopsa updated to a pit-constrained JORC 2012 resource of 44.03Mt at 1.07g/t AuEq for 1.52Moz AuEq.
  • The updated Kopsa resource contains 1.18Moz gold, 71kt copper and 3.50Moz silver.
  • 86% of the Kopsa AuEq ounces are in Measured and Indicated categories.
  • 97% of the in situ Kopsa block model is captured within the optimised pit shell.
  • Estimated life-of-mine strip ratio is approximately 4:1.
  • The resource update includes 9,631m of drilling completed to the end of July 2026.
  • Silver has been included in the AuEq calculation for the first time.
  • Metallurgical work indicates Kopsa mineralisation is amenable to conventional grinding, flotation and leaching.
  • A higher-grade near-surface central stockwork zone may support a potential starter pit.
  • Kopsa remains open in most directions and at depth.
  • A new 12,000m drilling program has commenced, with about 8,500m planned for Kopsa.
  • The next Kopsa MRE is anticipated in Q2 2027.
  • Total NNL resources across Kopsa, Angesneva and Hirsikangas increased to 55.2Mt at 1.09g/t AuEq for 1.93Moz AuEq.
  • Nearby mills at Pyhäsalmi and Laiva may provide processing optionality.
  • The announcement states Kopsa has been conditionally granted a mining licence, with an auxiliary mining licence application in progress.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.