It would be nice to think that our brave little company could be eligible for a little helping hand when the next round of grants become available. It would also be an opportunity for the Big Hungry P to get a little looksee inside the data rooms of potential new discoveries . Very clever and money well spent.
Thank you @GeoFijiMaterialsNordic Nickel to receive $500,000 from BHP for its Q1 2023 drill run
Print ArticleTue 17 Jan 23, 2:54pm (AEST)Source: UnsplashStocks in article
Commodities in article
KEY POINTS
- Nordic Nickel has been selected as one of the companies to receive funding from BHP in the latter’s first-ever ‘Xplor’ program
- Iron ore giant describes Xplor as an accelerator program to fast-track select early-stage mineral exploration projects
- Nordic is drilling in Finland hoping to replicate nickel discoveries on scale with a keystone 2009 discovery from Anglo American
Nordic Nickel (ASX:NNL) has been selected by Australian iron ore giant BHP (ASX:BHP) as a participant in the latter’s first-ever ‘Xplor’ funding round.
BHP will hand Nordic $500,000 ($0.5m) to support its ongoing drill program currently underway in Northern Finland at the company’s flagship Pulju Nickel Project.
The funds will be used specifically to cover Nordic’s capex of drilling further down than previously anticipated at its flagship prospect on-site to test electromagnetic (EM) anomalies at depth.
The exploration team is seeking to uncover “Sakatti-style” nickel sulphide mineralisation, referencing the London Stock Exchange (LSE) listed Anglo American's (LSE:AAL) discovery in Northern Finland in 2009.
For an overview on nickel sulphides, check out Market Index’s explainer here.
Hotinvaara Prospect on the radar
In July last year, Nordic released a Mineral Resource Estimate (MRE) for one prospect within the Pulju project, the Hotinvaara target, which boasts a resource of 278,500 tonnes of nickel.
“The combination of historical drilling data and drill core Nordic has been able to secure, together with modern geophysical exploration…has put us in an enviable position from a nickel exploration perspective,” Nordic Nickel MD Todd Ross said.
“We are excited to have been selected to participate in the BHP’s Xplor cohort for 2023.”
Ross put it to the market BHP’s decision to fund current drilling validates the economic potential at Pulju.
What is Xplor?
On its website, BHP describes the Xplor program as an accelerator initiative for a cohort of small-cap companies advancing early-stage mineral exploration projects.
A range of smallcap companies applied for the funding, with Nordic Nickel being one of the first successful recipients to publish news on the partnership on Tuesday.
“We are amazed by the diversity and quality of the submissions we reviewed and selected,” BHP Xplor Program VP Sonia Scarselli said.
Ann: Company Presentation, page-29
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