Exploration/Development, News, Nickel

Poseidon peaks with Golden Swan nickel hits


Poseidon Nickel has reported one of its best high-grade intersections yet during the current drill program at the Golden Swan nickel sulphide discovery in Western Australia.

The latest batch of assays came from five holes, with drilling at their PGSD025 hole returning 2.1 metres at 13.79 per cent nickel, including 1.3 metres at 12.07 per cent nickel and 0.8 metres at 16.5 per cent nickel. A second intersection at PGSD025 returned 14 metres at 1.16 per cent nickel.

Other returns included 5.65 metres at 1.97 per cent nickel at the PGSD021 hole and 8.45 metres at 1.05 per cent nickel at PGSD019.

Poseidon managing director and chief executive Peter Harold said: “Drilling continues on the resource definition program at Golden Swan with one of our best high-grade intersections returned in hole PSGD025, together with some broad lower grade intersections.”

But Harold added that the program at Golden Swan had not been without its challenges.

“As the drill densities at Golden Swan increases, the Southern Terrace morphology and the distribution of massive sulphide within the trend have proven to be more complex than first envisaged, as is the case with many nickel sulphide orebodies,” he said.

“We will use the latest EM information to ensure that the areas with the strongest EM signatures that are typical of well-developed massive sulphides are thoroughly drill tested.”

Commencing in late April 2021, Poseidon’s resource definition drilling program has been designed to increase confidence in the continuity of the Golden Swan mineralisation to JORC 2012 inferred and indicated levels by drilling up to 57 holes for 13,000 metres of NQ2 diamond drill core.

The company aims to continue releasing drill hole update as they come to hand, with the maiden Golden Swan resource expected during the September quarter.

Poseidon discovered Golden Swan in 2020 after the maiden hole targeting electromagnetic conductors intersected high-grade massive nickel sulphides.

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