Join our daily newsletter At The Bell to receive exclusive market insights
- Poseidon Nickel (POS) prepares to drill deeper electro magnetic holes as part of its WA-based Silver Swan resource extension and infill drilling program
- The Silver Swan project is located in the Goldfields region where the company is focusing drilling on increasing the resource base
- Fifteen holes have been completed so far as part of the ongoing infill drilling work undertaken in and around the Tundra-Mure mineral resource
- While the company says it is pleased to see some good hits at the resource so far, additional assay results are pending
- Shares have been trading 1.1 per cent higher at 8.8 cents
Poseidon Nickel (POS) is preparing to drill deeper electro magnetic holes as part of its WA-based Silver Swan resource extension and infill drilling program.
The Silver Swan project is located in the Goldfields region and the company is focusing drilling on increasing the resource base.
Fifteen holes have been completed so far as part of the ongoing infill drilling work undertaken in and around the Tundra-Mure mineral resource.
Of the holes completed so far, Poseidon has highlighted an intersection of 8.05 metres of
massive sulphide as “outstanding.”
Additionally, the most recent holes have returned up to 10.1 metres of massive and stringer nickel sulphides, including 8.1 metres of massive sulphides.
While the company said it’s pleased to see some good hits within the resource, including from visual estimates, assay results to confirm widths and determine grades are pending.
Managing Director and CEO Peter Harold said the latest holes completed should assist in the company’s aim of increasing the confidence in the resource.
“The aim of this program is to increase the confidence in the resource, by converting existing resources from Inferred to Indicated and to potentially find high-grade mineralisation outside the current resources,” he said.
Moving forward the company is preparing to conduct electromagnetic surveys in holes already drilled at the Peking Duck and Fledging Canard areas, once a crew is available.
Drilling of deeper electromagnetic holes is also scheduled once the current resource infill drilling program is complete, to be used as electromagnetic platform holes.
Shares were trading 1.1 per cent higher at 8.8 cents at 1:24pm AEDT.
