Nicholson returned to training this week, but suffered a reaction to the ankle and is classed as highly doubtful for the game.
Ian Baraclough is fully fit again after his own ankle problems and could replace Nicholson after he was one of the few positive points from the Southport game.
Notts also have young Paul Riley in reserve as well who could fill in at left back, or left wing back if Dearden changes his formation.
Derby born Nicholson has put in some sound performances at left back this season, and took on his excellent form from the run in last season into this years campaign. He brought the house down at Meadow Lane back in April when his wonder strike secured 2nd Division safety for The Magpies.