First Nordic Launches Phase 1 Diamond Drill Program at High-Priority Nippas Target
TORONTO, June 17, 2025 /CNW/ - First Nordic Metals Corp. (" FNM" or the " Company") (TSXV: FNM) (FNSE: FNMC SDB) (OTCQB: FNMCF) (FRA: HEG0) is pleased to announce the commencement of a 5,000-meter ("m") Phase 1 diamond drill program at its 100%-owned Nippas target, part of the Company's Storjuktan land package in northern Sweden's Gold Line greenstone belt.
Phase 1 will consist of up to 26 diamond drill holes to test two of three identified structural corridors at Nippas. Drilling is being carried out by Finland-based Comadev Oy and is designed to build on promising results from recent base-of-till / top-of-bedrock ("BoT/ToB") drilling. The third corridor identified to date is in an area dominated by bogs and will be tested in the winter after freeze-up. Based on the success of this program, FNM plans to complete up to an additional 5,000 m of drilling at Nippas through 2025.
Taj Singh, CEO of FNM, comments:"The commencement of drilling at Nippas marks another important milestone for our team and reflects the systematic, data-driven approach we take across our portfolio. With promising BoT/ToB and geochemical indicators, Nippas has the potential to become a cornerstone discovery within the Storjuktan land package and the broader Gold Line belt. This program is designed to advance our understanding of the target and lay the groundwork needed to unlock its full potential."
Nippas Phase 1 Drill Program Details
Target 1: A 2.2 km-long Au-As-Cu-Zn-Mo surface till anomaly coincident with strongly elevated ToB results (up to 2.66 ppm Au). The anomaly is located along a geophysical trend interpreted as a sheared contact between two lithological units. Target 1 will be initially tested with up to 3,600 m of diamond drilling in 16 holes over 1.4 km strike of identified structural feature, as shown in Figure 1.
Target 2: A parallel 2.0 km Au-As-Cu-Zn-Mo anomalous surface till trend, coincident with elevated gold in bedrock and glacial till. This trend is interpreted to be the sheared boundary between metasediments and a large granite intrusion. Target 2 will be tested with up to 1,400 m of drilling in 10 holes over a 1.3 km strike of the identified structural feature, shown below in Figure 1.
This focused Phase 1 program is designed to confirm the presence of mineralized shear corridors, define their geometry and scale, and establish a robust geological model for further expansion.
As the Company awaits assay results from the Aida drill program, the Phase 1 program at Nippas ensures continued exploration activity and efficient use of the drill rig. Results from Nippas will also support broader geological understanding across the Storjuktan land package and inform future drill campaigns.
About the Nippas Target
The Nippas project is located within the Storjuktan project area along the Gold Line belt in northern Sweden. Pathfinder element signatures and magnetic geophysical trends are coincident with sheared contacts between metasediment, metavolcanic, and granitic lithologies. Three sub-parallel structural trends have been identified, with a combined strike length of over 5.2 km. These trends are situated within a regional flexure and coincide with several interpreted second-order splay structures along the margin of a large granite intrusion.
About the Storjuktan Project
The Storjuktan project is a large, early-stage project strategically positioned north of the Company's resource-stage Barsele project. It consists of seven contiguous licenses covering 30,000 ha located in the northern portion of the Gold Line belt. The Storjuktan project contains over 60 km of the regional Gold Line structural corridor. All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring mainly on second- and third-order splay structures.
The Project contains over 60 km of the regionally significant "Gold Line" structure which can be traced for over 200 km in regional geophysics data. The Gold Line was first recognized in the late 1970s as a large arsenic-in-soil anomaly formed by a regional fault. All mineralization discovered to date shows a spatial relationship to this structural corridor, occurring either in the main shear corridor or on perpendicular structures within a few km of the main structures. The geology of the Storjuktan project consists of a sequence of inverted basin sediments and mafic volcanic rocks intruded by small syn-kinematic granitic intrusions within a broad, anastomosing high strain structural corridor. The rocks are regionally metamorphosed to amphibolite facies and gold mineralization is associated with intense biotite, and calc-silicate alteration assemblages and sulphide minerals pyrrhotite, arsenopyrite, and minor other sulphides. These lithological sequences are highly prospective for orogenic gold deposits.
ABOUT FIRST NORDIC METALS
First Nordic Metals Corp. is a Canadian-based gold exploration company, consolidating assets in Sweden and Finland, with a vision to create Europe's next gold camp. The Company's flagship asset is the Barsele gold project in northern Sweden, a joint venture project with senior gold producer Agnico Eagle Mines Limited. Immediately surrounding the Barsele project, FNM is 100%-owner of a district-scale license position comprised of two additional projects (Paubäcken, Storjuktan), which combined with Barsele, total approximately 100,000 hectares on the Gold Line greenstone belt. Additionally, in northern Finland, FNM is the 100%-owner of a district-scale position covering the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence on this belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Taj Singh, M.Eng, P.Eng, CPA
CEO & Director
Qualified Person
Benjamin Gelber, P. Geo., Exploration Head of FNM, is the Qualified Person as defined in NI 43-101, and takes responsibility for the technical disclosure contained within this news release.
For further information contact:
Marie Macdonald
Investor Relations
604-687-8566
[email protected]
Follow First Nordic Metals:
Twitter: @fnmetals
Youtube: @firstnordicmetalscorp
LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals
Instagram: @firstnordicmetals
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's and the group's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company and the group operates and includes, statements with respect to (i) the NBU Acquisition, (ii) issuance of Shares thereunder, and (iii) receipt of TSXV approval of the NBU Acquisition. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this news release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that they will materialize or that the assumptions on which it is based are correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this news release are free from errors and readers of this news release should not place undue reliance on the forward-looking statements in this news release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of the date of this news release and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this news release, unless it is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares.
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