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Poseidon Nickel Receives Final Golden Swan Assays

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:

PGSD053
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;

PGSD054
0.55m at 4.22 per cent nickel from 182.7m;

PGSD056
2.5m at 3.58 per cent nickel from 270.5m, including 0.45m at 7.59 per cent nickel from 270.5m; and

PGSD059
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

 

 

Email: admin@poseidon-nickel.com.au

 

Web: www.poseidon-nickel.com.au

 

Poseidon Nickel Continues Drill Hits at Golden Swan

THE DRILL SERGEANT: Poseidon Nickel (ASX: POS) reported the latest batch of assays results received from a further nine holes of the company’s recent Golden Swan drill program.

Poseidon Nickel kicked off the Golden Swan Resource Definition drilling program in late April 2021, which was designed to increase the company’s confidence in the continuity of the Golden Swan mineralisation to JORC 2012 Inferred and Indicated levels.

Results include:

PGSD035
0.8 metres at 14.3 per cent nickel from 178.85m;

PGSD042
2.95m at 4.46 per cent nickel from 166.85m;

PGSD044
3.95m at 5.1 per cent nickel from 168m, including 07m at 11.9 per cent nickel from 168.45m;

PGSD045
4.6m at 4.04 per cent nickel from 178.45; and

PGSD047
4.15m at 7.69 per cent nickel from 174.8m, including 1m at 11.6 per cent nickel from 174.8m and 1.15m at 11 per cent nickel from 177.8m.

“The Golden Swan Resource definition drilling program has been completed and assay results continue to be received,” Poseidon Nickel managing director and CEO Peter Harold said in the company’s ASX announcement.

“The latest batch of assays has some good widths and grades, including some very high-grade intervals which will bulk up the tonnes in the mineralised zone.

“Once all the assay results are received, we will be able to prepare a maiden resource which we plan to release late in the September 2021 quarter.

“Drilling is well underway on the Southern Terrace where we are looking for more Golden Swan style high-grade mineralised zones.

“The Silver Swan Reserve Upgrade drill program, which is designed to increase the high-grade nickel mining inventory at Black Swan, should be underway in late August.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@poseidon-nickel.com.au

 

Web: www.poseidon-nickel.com.au

 

Poseidon Nickel Targeting 2022 for Nickel Production

COMMODITY CAPERS: Poseidon Nickel (ASX: POS) has three nickel projects Windarra, Black Swan and Lake Johnston all within 300 kilometres of Kalgoorlie in Western Australia that currently host a combined Resource base of around 400,000 tonnes nickel and 180,000 gold.

Most recent activity has centred around the Black Swan project, which Poseidon acquired from Norilsk Nickel Australia in late 2014.

The project comprises the Silver Swan underground mine, the Black Swan open pit and the Black Swan 2.2 million tonnes per annum concentrator with 191,400 tonnes of nickel metal in resource.

A scoping study is currently underway looking at refurbishment and operation of the Black Swan processing plant, examining two processing capacities: the first 150,000 tonnes per annum for high-grade ores using the Silver Swan plant and second 1.1 million tonnes per annum for the lower grade ores using the Black Swan plant.

Poseidon commenced a Resource Definition drilling program at the Golden Swan prospect, within the Black Swan project in April designed to increase confidence in the continuity of the Golden Swan mineralisation to JORC 2012 Inferred and Indicated levels.

The most recent results from the drilling included:

PGSD036
9.8 metres at 4.95 per cent nickel, including 2.95m at 11.1 per cent nickel and 0.56 per cent copper from 216.2m, 0.95m at 14.9 per cent nickel from 216.8m and 0.4m at 15.8 per cent nickel from 217.75m;

PGSD040
18m at 2.74 per cent nickel from 221m, including 2.6m at 4.97 per cent nickel from 222.4m;

PGSD041
4.4m at 2.97 per cent nickel, including 1.8m at 5.48 per cent nickel from 171.6m;

PGSD038
9.1m at 3.79 per cent nickel, including 0.6m at 10.5 per cent nickel from 204.4m, 0.7m at 16.6 per cent nickel from 205m, 5.75m at 2.39 per cent nickel from 247.75m, and 3m at 3.3 per cent nickel from 272m, including 1m at 7.03 per cent nickel from 272.9m;

PGSD039
12.4m at 3.65 per cent nickel from 181.6m, including 6.4m at 5.8 per cent nickel from 181.6m, 0.5m at 16.7 per cent nickel from 181.6m, and 0.45m at 17.7 per cent nickel from 182.6m; and

PGSD049
4.45m at 5.86 per cent nickel from 187m, including 2.1m at 9.3 per cent nickel from 187m, including 0.9m at 15 per cent nickel.

Poseidon interpreted the high-grade results to have confirmed Golden Swan as a high-grade mineralised zone.

Once all the assay results are received, the company anticipates preparation of a maiden resource, hopefully sometime in the September 2021 quarter.

Funds received from a recent $22 million raising have been earmarked for further work at Black Swan and the company’s other projects.

Poseidon Nickel managing director and CEO Peter Harold said the placement supports the company’s continued strategy to build a high-grade nickel inventory at Black Swan and progress the project toward a potential recommencement of operations in 2022.

“The funds raised will be used to continue exploration activities at Golden Swan and across the Southern Terrace, undertake drilling to convert additional Silver Swan mineral resources to ore reserves and complete mining and production studies at Black Swan,” he said.

“Funds will also be allocated to reviewing the exploration potential of our Lake Johnston and Windarra nickel projects.”

 

Email: admin@poseidon-nickel.com.au

 

Web: www.poseidon-nickel.com.au

 

Poseidon Nickel DFS Declares Windarra Gold Project a Goer

THE BOURSE WHISPERER: Poseidon Nickel (ASX: POS) released the outcomes from a Definitive Feasibility Study (DFS) carried out on the company’s Windarra gold tailings project located in the Eastern Goldfields region of Western Australia.

Poseidon Nickel is considering development of the Windarra gold tailings project, which comprises the Windarra Gold Tailings Mineral Resource contained within the North and South tailings dams and the Lancefield Gold Tailings Mineral Resource.

The Mineral Resource comprises 4.75 million tonnes at the Windarra North and South dams at an average grade of 0.73 grams per tonne gold and 1.21 million tonnes at Lancefield at an average grade of 1.27g/t gold, all classified as Indicated resources.

The study determined an Ore Reserve of 5.54 to 5.73 million tonnes, subject to mining method, grading 0.84g/t gold and 2.1g/t silver for approximately 150,000 ounces of contained gold and 375,000 ounces of contained silver.

The study found Windarra Gold Tailings could produce approximately 53500 to 55200 ounces gold, subject to mining method, over a 45-month period, utilising low-cost, low-risk tailings mining methods and a conventional 1.5 million tonnes per annum modular designed processing facility.

“The results from the DFS demonstrate a robust and profitable project retreating the gold tailings at Windarra and Lancefield,” Poseidon Nickel managing director and CEO Peter Harold said in the company’s ASX announcement.

“The gold tailings present a project which can generate positive cash flows to be invested into our nickel business, which is our primary focus.

“The tailings project would be ideal for a partnership style arrangement or an outright sale.

“We will be actively looking for a high-quality partner to work with to bring this project into production or a party to acquire the project so we can monetise the asset for Poseidon shareholders.”

 

 

Email: admin@poseidon-nickel.com.au

Web: www.poseidon-nickel.com.au