News Release Regarding Planned Drill Program
(TheNewswire)
Vancouver, B.C. - TheNewswire – October 22, 2019 - Nordic Gold Inc. (TSXV:NOR) (“Nordic” or the “Company”) is pleased to announce that further to its Letter to Shareholders (see release dated October 10, 2019) detailing the Company’s path forward – management and Coffey, a Tetra Tech Company (‘Tetra Tech’) have finalized the Company’s proposed drill program at its Laiva Project in Finland designed to (i) infill drill targets for the third pit within 200 m of the existing pit, (ii) infill drill the lode extensions and (iii) infill drill the two pits currently open. The program will include a total of 146 holes drilling between 10,000 metres and 15,000 metres, depending on the depth of the zones of mineralization.
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Table from the 2019 NI 43-101 Technical Report by Coffey a Tetra Tech company (filed under the Company’s profile on www.sedar.com on October 15, 2019).
Table 14.20 Detailed Breakdown of Resource Estimate in Measured and Indicated and Inferred Categories (Block Model only)
----------------------------------------------- |Measured |Density|Tonnes |Au |Au | |Grade Range Au|(t/m3) |(t) |(g/t)|(oz) | |(g/t) | | | | | |---------------------------------------------| |0.3– 0.6 |2.83 |121,267 |0.53 |2,064 | |---------------------------------------------| |0.6– 0.9 |2.83 |372,574 |0.75 |9,019 | |---------------------------------------------| |0.9– 3.0 |2.83 |1,157,060|1.59 |59,060| |---------------------------------------------| |3.0– 6.0 |2.83 |116,931 |3.91 |14,682| |---------------------------------------------| |6.0– 100.0 |2.83 |12,638 |7.72 |3,136 | |---------------------------------------------| | | |1,780,452|1.54 |87,963| ----------------------------------------------- ------------------------------------------------ |Indicated |Density|Tonnes |Au |Au | |Grade Range Au|(t/m3) |(t) |(g/t)|(oz) | |(g/t) | | | | | |----------------------------------------------| |0.3– 0.6 |2.83 |343,884 |0.53 |5,871 | |----------------------------------------------| |0.6– 0.9 |2.83 |1,237,894|0.75 |30,009 | |----------------------------------------------| |0.9– 3.0 |2.83 |3,713,535|1.60 |190,850| |----------------------------------------------| |3.0– 6.0 |2.83 |400,411 |3.91 |50,287 | |----------------------------------------------| |6.0– 100.0 |2.83 |47,720 |8.63 |13,242 | |----------------------------------------------| | | |5,743,443|1.57 |290,259| ------------------------------------------------ --------------------------------------------------- |Inferred |Density|Tonnes |Au |Au (oz) | |Grade Range Au|(t/m3) |(t) |(g/t)| | |(g/t) | | | | | |-------------------------------------------------| |0.3– 0.6 |2.83 |1,008,445 |0.54 |5,871 | |-------------------------------------------------| |0.6– 0.9 |2.83 |4,644,737 |0.76 |113,325 | |-------------------------------------------------| |0.9– 3.0 |2.83 |15,270,601|1.55 |762,223 | |-------------------------------------------------| |3.0– 6.0 |2.83 |1,439,258 |3.91 |179,628 | |-------------------------------------------------| |6.0– 100.0 |2.83 |276,022 |12.52|111,067 | |-------------------------------------------------| | | |5,743,443 |1.63 |1,183,730| |-------------------------------------------------| | | | | | | |-------------------------------------------------| |Total | |30,162,958|1.61 |1,561,952| ---------------------------------------------------The drilling within the pits will close the spacing from 50 m to 25 m, the identified density to upgrade the resources. The angled drilling within the pits will also provide invaluable understanding of the contact of the zones for detailed mine planning.
The infill drill program is planned at a 100 m depth. Drilling is planned with azimuth of 360o (North) and dip of 50o. Holes can be cut short or extended, depending on intercepts and mineralization, based on decisions by the geologist. The holes will not be ended whilst in mineralization. The holes have been planned in the South, North and East pit areas as detailed in the Laiva Drill Plan 2019 and lodged on SEDAR.
Comment by Brian Wesson CEO/President:
“The completion of the design of the pits moves the Company a further step towards the planned restart and finalizes another goal detailed in our letter to shareholders. The drill program is the culmination of the last few months of working closely with Tetra Tech and Lionsbridge. The results of the plan will inform the restart document planned for release in December as discussed in our letter to shareholders. We look forward to starting drilling.”
The technical disclosures in this announcement have been reviewed and approved by EUR ING Andrew Carter BSc, CEng, MIMMM, MSAIMM, SME a Qualified Person as defined by National Instrument 43-101.
The Company cautions that it has not defined or delineated any proven or probable reserves for its Laiva Property and mineralization estimates may therefore require adjustment or downward revision based upon further exploration or development work or actual production experience. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Company also cautions that the decision by the Company to proceed to develop the Laiva Mine Project and extract mineralization proceeded without the Company first establishing reserves supported by a technical report and completing a pre-feasibility or feasibility study. Accordingly, there is a higher risk of technical and economic failure at Laiva because development proceeded without first establishing reserves supported by a technical report and completing a feasibility study. This is particularly relevant as the Company has proceeded with development at Laiva on indicated and inferred resources without first completing a preliminary economic report. The Company will file a preliminary economic assessment study, pre-feasibility study or feasibility study under its company profile on www.sedar.com prior to making any decision to restart the Laiva Mine.
For more information contact:
Clyde Wesson
Vice President
300 - 1055 West Hastings St.
Vancouver, B.C. V6E 2E9
About Nordic Gold
Nordic Gold Inc (TSX-V: NOR) owns 100% of the Laiva Gold Mine in Raahe, Finland. The project is fully permitted, has a fully built process plant, has two pits open and is ready for production.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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