Nordic Resources Limited lifts Kopsa resource 86% to 1.52Moz AuEq
Measured and indicated resources account for 86 per cent of the updated Finnish deposit, which includes silver for the first time.
Mara Quinlan
Nordic Resources Limited ASXNNL reported on Monday that its Kopsa gold-copper-silver resource in central Finland increased 86 per cent to 1.52 million gold-equivalent ounces. Measured and indicated resources now represent 86 per cent of the inventory, compared with 69 per cent in its earlier project summary.
Shares traded higher at A$0.20 on the ASX at 1:14:26 p.m. AEDT on Monday ASXNNL. Nordic is an Australian-listed explorer and developer focused on Finnish gold and base metals projects.
The interim estimate, effective Oct. 12, contains 44.03 million tonnes at 1.07 grams per tonne gold equivalent. It uses a cut-off of 0.4 grams per tonne gold equivalent, with 97 per cent of the in situ resource captured inside an optimised pit shell.
The update incorporates 9,631 metres of diamond drilling completed and reported by the end of July 2026, alongside revised price and recovery assumptions and silver's first inclusion. A new 12,000-metre drilling program is underway, primarily at Kopsa, with further results expected before the end of 2026.
The earlier project summary listed 814,800 gold-equivalent ounces at 1.09 grams per tonne, so the new estimate increases contained ounces while reporting a slightly lower equivalent grade. The comparison also spans changes to the metals and assumptions used in the calculation.
Measured resources comprise 14.15 million tonnes at 1.13 grams per tonne gold equivalent, containing 510,000 equivalent ounces. Indicated resources account for 23.09 million tonnes at 1.06 grams per tonne, containing 790,000 equivalent ounces.
The inferred portion comprises 6.79 million tonnes at 1.01 grams per tonne gold equivalent, containing 220,000 equivalent ounces. Nordic says most of the known higher-grade stockwork mineralisation lies in the measured category within the Central Zone.
The resource's gold grade is 0.83 grams per tonne and its copper grade is 0.16 per cent. Silver averages 2.47 grams per tonne, with contained silver estimated at 3.50 million ounces.
Contained gold totals 1.18 million ounces, alongside 71,000 tonnes of copper. Across Kopsa and its neighbouring Kiimala Trend and Hirsikangas projects, Nordic's combined inventory now reaches 1.93 million gold-equivalent ounces.
"NNL currently has a rig drilling at Angesneva in addition to the ongoing drilling at Kopsa," managing director Robert Wrixon said in the release.
The Oct. 12 gold-equivalent calculation assumes US$3,500 an ounce gold and US$14,000 a tonne copper. Silver is priced at US$60 an ounce.
Assumed recoveries are 88 per cent for gold, 89 per cent for copper and 79 per cent for silver. Nordic identifies the Central Zone's surface mineralisation as a possible starter pit in a future development scenario.
Further infill and extension drilling results are expected before the end of 2026.
