- Poseidon Nickel (POS) returns further high-grade intersections from the Golden Swan mineralised zone at the Black Swan project in WA
- The program was completed ahead of schedule at the end of July, with 60 holes drilled for a total of almost 16,000 metres
- POS says once all assay results are received it will begin preparing a maiden resource, which has been pencilled in for late in the September quarter
- The company is now on the search for further mineralised zones and has restarted drilling on the Southern Terrace
- Poseidon Nickel is trading in the grey at 11 cents at 2:08 pm AEST
Poseidon Nickel (POS) has returned further high-grade intersections from the Golden Swan mineralised zone at the Black Swan project in WA.
The company received its latest batch of assays from six holes from a drilling program which began in late April. The program was designed to increase confidence in the continuity of the Golden Swan mineralisation to JORC 2012 Inferred and Indicated levels.
The program was completed ahead of schedule at the end of July, with 60 holes drilled for a total of 15,986 metres.
Results include 12.4 metres at 3.65 per cent nickel from 181.6 metres, including 0.45 metres at 17.7 per cent nickel from 182.6 metres.
The company said once all assay results were received it would begin preparing a maiden resource, which had been pencilled in for late in the September quarter.
Managing Director and CEO Peter Harold said the company was now hunting more Golden Swan-style mineralised zones and had restarted drilling on the Southern Terrace.
“In addition we are looking to start the Silver Swan Reserve Upgrade drilling program in the near future which is designed to increase the high-grade nickel mining inventory at Black Swan,” Mr Harold said.
Poseidon Nickel was trading in the grey at 11 cents at 2:08 pm AEST.