First Nordic Metals Launches Phase 1 Diamond Drill Program At High-Priority Nippas Target

First Nordic Metals (FNM.V) on Tuesday said it launched a 5,000-meter phase 1 diamond-drilling program at the Nippas target on its Storjuktan land package in northern Sweden's Gold Line greenstone belt.

The company said the 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.

The phase includes up to 26 drill holes to test two of three identified structural corridors at Nippas.

First Nordic said the third corridor identified to date is in an area dominated by bogs and will be tested in the winter after freeze-up. The company plans to complete up to an additional 5,000 meters of drilling at Nippas through 2025, based on the success of the program.

"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," said Chief Executive Officer, Taj Singh. "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."

The company's shares were last seen down $0.005 to $0.39 on the TSX Venture Exchange.

Price: 0.39, Change: -0.01, Percent Change: -1.27