Announcement Date: 2021-11-22
Announcement Type: Exploration Update
Announcement Code: JORC
Company name: Poseidon Nickel Ltd.
Project name: Black Swan
Location: Australia
Commodities: Copper,Nickel,Cobalt
Highlight: 13.6m of massive Ni-Cu sulphides intersected
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Poseidon Nickel (ASX: POS) (“Poseidon”, “the Company”) is delighted to provide the following update on the Silver Swan drilling program which is aiming to increase the high-grade resource base. Managing Director and CEO, Peter Harold, commented, “we are very pleased to have recorded a very wide intersection of 13.6 metres of massive sulphides within the Tundra Mute Resource in the Silver Swan channel. This is the best intersection so far in this drill program and is significant given that the average thickness of the Tundra Mute Inferred Resource was previously about 2 metres. 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 known resources. This latest hole will most certainly increase the amount of material in the Indicated Resource category. We are still planning to drill at least two deeper EM holes and look forward to seeing whether the EM surveys detect any EM plates beyond the current extent of the know mineralisation.”
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