Join our daily newsletter At The Bell to receive exclusive market insights
- Poseidon Nickel (POS) has received further high-grade nickel intersections from its Golden Swan resource in Western Australia
- Recent results include 10.55 metres at 3.17 per cent nickel and 1 metre at 14.5 per cent nickel
- Golden Swan mineralisation remains open in both plunge directions, with high priority drilling continuing to delineate extensions
- Poseidon Nickel last traded at 8.1 cents on June 15
Poseidon Nickel (POS) has received further high-grade nickel intersections from its Golden Swan resource in Western Australia.
Golden Swan is part of the Black Swan Project which lies roughly 600 kilometres east of Perth and 50 kilometres northeast of Kalgoorlie. The drilling program began in April 2021 and aims to increase confidence in the continuity of the Golden Swan mineralisation, drilling up to 57 holes for 13,000 metres.
Recent results include 10.55 metres at 3.17 per cent nickel and 1 metre at 14.5 per cent nickel.
Golden Swan mineralisation remains open in both plunge directions, with high priority drilling continuing to delineate extensions.
Further drillhole electromagnetic (DHEM) platforms are now being established to explore for additional massive sulphide trends along the Southern Terrace.
The company said further knowledge gained from the uneven topography of the Southern Terrace surface indicated that the Golden Swan mineralisation was not a unique occurrence, suggesting other mineralised zones could exist within the area.
“With each hole our understanding of the Golden Swan mineralisation increases,” Managing Director and CEO Peter Harold said.
“Our geological team is also utilising this program to create more EM platforms to allow us to test the greater potential of the Southern Terrace to host more massive sulphide mineralisation.”
Poseidon Nickel last traded at 8.1 cents on June 15.
