Announcement Date: 2021-12-20
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Poseidon Nickel Ltd.
Project name: Black Swan
Location: Australia
Commodities: Copper,Nickel,Cobalt
Highlight: Drilling results incl. 15m @ 17.92% Ni, 0.6% Cu, 2699ppm Co from 265m
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 recent exploration activity on the Silver Swan Channel which is aimed at increasing the high-grade resource and reserve base for the “Feed the Mill Strategy”. The Resource Infill drilling program in Tundra-Mute is continuing with 23 holes completed and two more in progress with the most significant results outlined in Table 1, including the exceptional intersection seen in PTMD018 of 15m at 17.92% Ni from 265m. The long section showing the pierce points is shown as Figure 1. Eight drill holes were surveyed by Vortex Geophysics using an Atlantis Down Hole Electro Magnetic (DHEM) probe between 26 November and 6 December 2021 with the interpretation of the results carried out by Newexco. The survey highlighted seven plates with a conductance of >15,000 Siemens which is considered highly conductive. Within the Silver Swan setting, these readings are often indicative of the presence of massive sulphides. These plates are shown in relation to Tundra-Mute in Figure 2. When compared against drilling data, four of the plates can be explained using historical drilling and will not be tested further. These plates are shown as light purple in Figure 2. The untested plates are shown as darker purple in Figure 2. The full table of results is included as Table 2. In relation to these untested plates the following information is relevant
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