Nordic Nickel selected for inaugural BHP Xplor program
Nordic Nickel will use its US$500,000 grant from BHP to advance exploration at its Pulju nickel project in Finland.
Recently listed nickel sulphide explorer Nordic Nickel (ASX: NNL) is one of seven junior companies selected to participate in BHP’s (ASX: BHP) inaugural Xplor program.
BHP Xplor is a cohort-based accelerator program, designed to support early-stage mineral exploration start-ups to find critical resources, such as copper and nickel, required for the global energy transition.
The program provides candidates with a one-off, non-dilutive grant of US$500,000, together with in-kind services, mentorship and networking opportunities with industry and investors and connections.
Nordic, which listed on the ASX in June last year, is exploring the Pulju nickel project in northern Finland, where its is targeting tier-one scale discoveries in the Central Lapland Greenstone Belt.
The company recently announced the start of its maiden drilling program at Pulju, with the first of two diamond rigs delivered to site and a second due later this month.
This program will test multiple targets at the Hotinvaara prospect, with drilling to continue for the next 14 months.
Targeting Sakatti-style discoveries
Nordic said in a statement that it intends to use the additional US$500,000 BHP grant during its 2023 drill program to fund a number of deeper holes to test the known electromagnetic (EM) targets that appear to be located near the base of the ultramafic cumulate layer at Hotinvaara.
These targets are prospective for large-scale nickel sulphide discoveries similar to the world-class Sakatti deposit, located in the same belt.
Nordic managing director Todd Ross said the company’s selection as part of the BHP Xplor cohort for 2023 validated the quality and potential of the Pulju nickel project.
“The combination of the extensive historical drilling database and drill core from the Outokumpu era that Nordic has been able to secure, together with the company’s modern geophysical exploration, in particular the recent down-hole EM survey data from re-opened drill holes, has put us in an enviable position from a nickel exploration perspective,” he said.
“The non-dilutive funding provided by BHP, together with the ability to access the company’s world-class networks and expertise, will put Nordic in an exceptional position to unlock the full potential of this asset over the next 12 months and beyond.”
Meanwhile, BHP Xplor program vice president Sona Scarselli said the major miner was “amazed by the diversity and quality of the submissions” it had reviewed and selected.
“We are confident that the BHP Xplor program will support the companies chosen to accelerate their concepts and ideas to help take them to the next level.”