NORDIC GOLD ANNOUNCES THE START OF DRILLING ON SITE
Vancouver, B.C. – Nordic Gold Inc. (“Nordic” or the “Company”) is pleased to announce that the Company has begun drilling on site. The drilling is being completed as per previously announced in the Company’s corporate update dated October 22, 2019.
The drill program is primarily diamond infill drilling with the current phase being completed to evaluate the southern extension of the north pit. The southern extension of the north pit lies between the two initial pits. All drilling will be oriented drilling at an angle of 50 degrees to the north and will be 57.5 mm. The core samples will be prepared in Oulu, 85km’s from site, and then sent for comprehensive Inductively Coupled Plasma (ICP) analysis.
The ICP analysis results will then be used in Tetra Tech’s live model to provide real time results to ensure that the drill program is continually optimized. Nordic Gold, Westech and Tetra Tech have been working closely to ensure the drill program yields a deeper understanding of the mineralization.
As per the corporate update, the infill drilling program is being completed to support the feasibility level restart study and the optimized mine plan with a view to a July 2020 restart of operations at the Otso Gold Mine (formerly known as the Laiva Gold Mine).
The Company will update the market on the results of the drill program as they become available.
The CEO/President of Nordic, Brian Wesson, commented “I would like to thank our team on site and partners at Tetra Tech for their hard work in designing the program, securing contractors and beginning the drill program on site. The drilling has achieved excellent penetration rates and we look forward to the results. The beginning of drilling marks another milestone in the redevelopment plan previously announced and another step towards production”.
The technical disclosure in this news release has been reviewed and approved by EUR ING Andrew Carter BSc, CEng, MIMMM, MSAIMM, SME and 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 Osto 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 Osto 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 Osto 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 Osto 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 Osto Mine.
For further information, please contact:
Clyde Wesson Vice President firstname.lastname@example.org www.nordic.gold
300-1055 West Hastings St. Vancouver, BC V6E 2E9
For up to the minute news, industry analysis and feedback follow us on Facebook, LinkedIn and Twitter.
About the Company
Nordic Gold Inc. wholly owns the Otso Gold Mine near the town of Raahe in Finland. The Otso Gold Mine is fully built, fully permitted, has all infrastructure in place, two open pits and is progressing towards a July 2020 restart of 2 million tonnes per annum operations.
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.