Kitka Gold-Cobalt Project

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Kitka Gold-Cobalt Project

Overview

A gold-cobalt reservation along strike from major gold occurrences on the Kuusamo Schist Belt.

Kitka — reservation over the Kuusamo belt; the Juomasuo / Latitude 66 district (labelled) is adjacent third-party ground

At a Glance

Location

West of Ruka, Kuusamo, NE Finland — the Kuusamo Schist Belt

Tenure

Reservation VA2025:0042 — a priority right to apply for an exploration permit (not a permit); ~3,256 ha; valid to Sep 2027

Holder

Swedish Minerals AB (a wholly owned NordX subsidiary)

Commodities

Gold, cobalt (± copper, uranium, rare earths)

Deposit Style

Albitite-associated orogenic gold–cobalt (±Cu-U-Mo-REE), IOCG/ISCG affinity

Stage

Reservation over historically-drilled ground; ~64 third-party holes / ~6,930 m in-polygon

Why It Matters

Most reservations are bets on untested ground. Kitka is a reservation over a drilled, historically-resourced gold-cobalt cluster. A computed overlay of the historic GTK occurrence data against the reservation polygon places two deposits that carried 2013 Dragon Mining JORC gold resources — Sivakkaharju (robustly inside) and Meurastuksenaho (at the boundary) — on the reserved ground, alongside five more drilled Au-Co(-Cu-U) occurrences and a rare-earth carbonatite showing, and roughly 64 historic drill holes. The prize if the reservation converts to a permit is first modern work on a resourced cluster — but every figure here is historical and third-party, and a reservation is only a right to apply.

The District (adjacent, third-party)

The Kuusamo Schist Belt’s flagship is Juomasuo (with Hangaslampi and Pohjasvaara — the “K1/K2/K3” camp), held by ASX-listed Latitude 66, which reports a JORC resource of 7.2 Mt at 2.7 g/t Au (650,000 oz) and 0.08% Co (5,840 t) (2025)1. That camp lies ~7 km from the Kitkareservation, on separate ground — it is third-party district context, not NordX’s, and not indicative of the reservation. Modern belt-scale geophysics (the GTK “Undercover” Kuusamo programme) and Latitude’s work are de-risking the belt around NordX’s ground.

Geology & the Target

The occurrences are albitite-associated orogenic gold–cobalt (with copper, uranium, molybdenum and REE), hosted in albitised, biotitised and sulphidised sericite-quartzite and mafic rocks along the Hyväniemi–Maaninkavaara and Käylä–Konttiaho anticlines — the same structural corridors that control the district’s deposits. Recent published work (Davies et al., 2025) frames the belt’s Au-Co-Cu-REE systems as an iron-sulphide-copper-gold (IOCG-family) style, with high-grade shoots in late shear zones. The exploration logic is direct: convert the reservation, then re-log and modern-assay the historic southern-cluster core — much of which predates 2010 and has never been tested for cobalt, REE and uranium with modern methods.

Important Considerations

  • Reservation only — a priority right to apply, not a permit, mineral resource or royalty; conversion is not assured.
  • Historical, third-party, non-current figures — the 2013 resources are Dragon Mining’s JORC estimates, superseded by the operator’s own 2025 resource; they are NI 43-101 historical estimates, not NordX’s, and are not reliable indicators of what modern work would find.
  • Latitude 66’s current resource is adjacent and third-party — ~7 km away, on separate ground, not NordX’s.
  • Early-stage — value depends on securing a permit and on modern work; historical results are not a guarantee of future results.
  1. Lattitude 66 ASX announcement from 25/03/2025. KSB Project Scoping Study confirms highly economic standalone gold-cobalt operation. 06gyxbgx9ntbqt.pdf