Northgold AB announced results of a Fixed-Loop Electromagnetic geophysical ground survey completed during 2023 at its 100%-owned Kopsa gold and copper project in Central Finland. Together with the help of other geophysical methods, the FLEM survey has identified three conductive zones ("Conductors -1, -2, and -3"), which represent new exploration targets prospective for copper-gold mineralization that extend to new vertical depths far exceeding the current deposit depth of 250 metres, creating significant new, medium-to-long term resource growth potential, and supplementing the existing near term potential that immediately surrounds the deposit on its southwest and northeast sides to depths of up to 250m. Conductor-2 lies at least 100m below the bottom of the existing resource, extends from depths of roughly 250m to those exceeding 500m, is centered around the tonalite intrusion host rock, and creates potential for future depth extensions to mineral resources.

Shallow parts were previously intersected by Northgold in hole NGKOP22010, returning 0.26% Cu and 0.33 g/t Au (0.72 g/t AuEq) over 19.7m from 332m down-hole depth. There are signs that Conductor-2 becomes stronger with depth, which may suggest increasing Cu-Au sulfide enrichment with depth, creating potential for a larger and deeper Cu-Au system at Kopsa in the longer term. Drill planning for initial testing of this conductor's deeper portions is underway, which is expected to be efficiently achieved by extending existing deep drill holes NGKOP22010 and NGKOP23034.

Conductor-3 was detected at depths exceeding 650m (400m below the bottom of resource), highlighting potential for a far deeper and larger Kopsa system than was previously realized. Has yet to be drill tested, and will continue to be studied, including with additional FLEM surveys to the northeast around the historic Sorola Cu-Au prospect, where the conductor is projected to be detected at shallower depths. Conductor-1 was detected 500 meters southwest of the existing resource, from depths greater than 100m to well beyond 500m, creating exploration potential for a thick massive sulfide zone, possibly leading to a nearby satellite deposit.

has yet to be drill tested and initial drill planning is underway.