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Nordic Gold unveils drilling proposal for Laiva Project in Finland

The drilling plan is another key step in the process of bringing the Laiva mine back to production

Laiva Gold Mine
The proposal includes drilling a total of 146 holes at a depth of between 10,000 meters and 15,000 meters

Nordic Gold Inc (CVE:NOR) (OTCMKTS:FIEIF) has completed its proposed drill program at its Laiva gold mine in Raahe, Finland. 

Finalizing the proposal, which includes drilling between 10,000 and 15,000 meters across 146 holes, is a crucial step in bringing the mine back into production. 

The proposal is the result of months of work between Nordic Gold, its management services company Lionsbridge and engineering services firm Coffey Geotechnics Ltd, a Tetra Tech Inc (NASDAQ:TTEK).

Specifically, the plan is three-pronged: infill drill targets in its third pit within 200 meters of its existing pit, infill drill the lode extensions and infill drill the two pits already open. 

READ: Nordic Gold issues shares to executives brought in by Lionsbridge Capital

Nordic CEO Brian Wesson, who was installed when Nordic engaged Lionsbridge for management services in July, was pleased to see progress.

“The completion of the design of the pts moves the company a further step towards the planned restart and finalizes another goal detailed in our letter to shareholders,” Wesson said in a statement. “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 infill drilling — drilling between existing holes — will close the spacing from 50 meters to 25 meters and is planned for a 100-meter depth. The company added that the angled drilling within the pits will give it valuable insight into the drilling zones.

—A previous version of this story incorrectly stated that the company plans to drill 146 holes each at a depth of 10,000 to 15,000 meters, rather than in total—

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com 

Follow him on Twitter @andrew_kessel

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Price: 0.045 CAD

Market: TSX-V
Market Cap: $12.14 m

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Nordic Gold kicks off drilling programme at its Otso mine project in Finland

Nordic Gold Inc (CVE:NOR) chief executive and president Brian Wesson speaks to Proactive London's Andrew Scott soon after announcing that drilling has started at its gold mine project in Finland.  The work includes drilling of between 10,000 and 15,000 metres across 146 holes and is a...

on 5/12/19

2 min read