THE DRILL SERGEANT: Poseidon Nickel (ASX: POS) released the final batch of assays results received from the Resource Definition drilling program at the Golden Swan deposit within the company’s Black Swan nickel project in Western Australia.
Poseidon Nickel commenced the Resource Definition drilling program in April 2021 that was designed to increase confidence in the continuity of the Golden Swan mineralisation to JORC 2012 Inferred and Indicated levels.
The latest results include:
3.8 metres at 5.06 per cent nickel from 245.6m, including 0.6m at 12 per cent nickel from 245.6m, and 3.1m at 2.21 per cent nickel from 262.9m, including 0.3m at 8.59 per cent nickel from 262.9m;
0.55m at 4.22 per cent nickel from 182.7m;
2.5m at 3.58 per cent nickel from 270.5m, including 0.45m at 7.59 per cent nickel from 270.5m; and
5.15m at 8.62 per cent nickel from 227.35m, including 3m at 12 per cent nickel from 227.35m, including 0.65m at 13.9 per cent nickel from 227.35m, and 1m at 7.32 per cent nickel from 228m, and 0.5m at 13.1 per cent nickel from 229m, and 0.5m at 14.7 per cent nickel from 229.5m, and 0.35m at 16.1 per cent nickel from 230m.
“The Golden Swan Resource definition drilling program has been completed and all assay results have now been received,” Poseidon Nickel managing director and CEO Peter Harold said in the company’s ASX announcement.
“The final batch of assays had some good widths and grades.
“Now that all the assay results have been received the consultant geologists have commenced work on determining the maiden resource which is on track to be delivered in late September.
“Drilling is continuing on the Southern Terrace where we are looking for more Golden Swan style high-grade mineralised zones.
“Three holes have been drilled to date and a down hole EM crew is due on site this week to survey those first three holes.
“The Silver Swan Reserve Upgrade drill program, designed to increase the high-grade nickel mining inventory at Black Swan, and test for extensions is also underway.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE