Can Nordic Resources Sustain Momentum Amid Ongoing Pulju Partnership Talks?

Drilling Success Expands Kopsa’s Potential

Nordic Resources Ltd (ASX, NNL) has reported a significant expansion of its Kopsa gold-copper project in Finland following the completion of a 27-hole diamond drilling program. Originally planned for 4,500 metres, the program was upsized to nearly 6,000 metres after strong results from the initial 12 holes. These results have confirmed mineralised extensions beyond the existing resource model, including shallow depth extensions in the central zone and substantial along-strike extensions to the southeast, southwest, and west.

Importantly, borehole electromagnetic surveys have identified new prospective targets along the northern contact of the Kopsa deposit, an area previously untested. The company expects to release the first drill results from this northern zone imminently, potentially opening further avenues for resource growth.

Advancing Metallurgical Understanding

Complementing the drilling success, Nordic Resources has commenced a detailed metallurgical test program aimed at optimising the processing flowsheet and improving recovery rates for both gold and copper. This work is critical to refining the economic viability of the project and is expected to deliver results by mid-2026.

Strong Institutional Support Bolsters Development

Backing the company’s exploration and development efforts, Nordic Resources secured over A$10 million through two institutional placements in October 2025. The capital raise attracted prominent Australian resource-focused funds, including the Paragon Fund, underscoring confidence in the company’s strategy and asset quality.

Robust Regional Resource Base

The Kopsa project remains the cornerstone of Nordic’s regional gold strategy in central Finland, which collectively hosts a JORC-compliant resource inventory of 34.3 million tonnes at 1.11 grams per tonne gold equivalent, translating to 1.23 million ounces AuEq. Notably, 66% of these ounces are classified in the Measured and Indicated categories, highlighting the quality and near-surface nature of the deposits, which are amenable to open-pit mining methods.

Alongside Kopsa, the Kiimala Trend and Hirsikangas projects contribute significant resources and exploration upside, all within a 70-kilometre radius. The presence of two existing processing mills nearby offers potential for near-term production options, enhancing the overall project economics.

Pulju Nickel-Copper Project Partnership Talks Continue

Beyond gold, Nordic Resources is advancing its Pulju nickel-copper-cobalt project in Finnish Lapland, which hosts one of Europe’s largest undeveloped nickel-cobalt resources. Discussions with potential partners remain ongoing, reflecting the strategic importance of this asset in the company’s portfolio.

Financially, Nordic ended the quarter with a healthy cash position of A$12.3 million, having invested A$1.26 million in exploration activities. The company confirmed that all material assumptions underpinning its resource estimates remain unchanged, providing a stable foundation for future development.