Poseidon Nickel (ASX:POS) - Managing Director & CEO, Peter Harold
Managing Director & CEO, Peter Harold
Source: Poseidon Nickel
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  • Poseidon Nickel (POS) releases an updated mineral resource estimate (MRE) for the Silver Swan massive nickel sulphide deposit at its Black Swan project in WA
  • The MRE now stands at 130,000 tonnes grading 9.6 per cent nickel for 12,400 tonnes of contained nickel
  • It was prepared by independent resource consultants Snowden Optiro and follows on from Poseidon’s 38-hole exploration and resource drilling program
  • The company says it is on track to deliver a Black Swan disseminated nickel sulphide resource update later this quarter and aiming to complete a bankable feasibility study in September
  • POS shares steady at 8.6 cents

Poseidon Nickel (POS) has released an updated mineral resource estimate (MRE) for the Silver Swan massive nickel sulphide deposit at its Black Swan nickel project in Western Australia.

The MRE now stands at an indicated and inferred 130,000 tonnes grading 9.6 per cent nickel for 12,400 tonnes of contained nickel at a 4.5 per cent nickel cut-off grade.

The revised numbers were prepared by independent resource consultants Snowden Optiro following the completion of Poseidon’s 38-hole, 8,179-metre exploration and resource drilling program.

Silver Swan comprises the Goose, Peking Duck, Fledgling-Canard and Tundra-Mute mineralised shoots, which occur along the basal ultramafic contact of the Black Swan komatiite (BSK).

The BSK, a large extrusive ultramafic flow that measures a strike length of about 3.5 kilometres and runs at least 1.6km below surface, hosts disseminated nickel sulphide and massive sulphide nickel mineralisation.

Poseidon said it was on track to table a Black Swan disseminated MRE update later this quarter, while the Black Swan bankable feasibility study was due for completion in September.

“The high-grade Golden Swan and Silver Swan resources will be important sources of feed for the Black Swan ‘fill the mill’ strategy,” Managing Director and CEO Peter Harold said.

“We look forward to finalising the updated Black Swan disseminated resource and then finalising the open-pit and underground mining plans, which will form the basis of the Black Swan bankable feasibility study.”

POS shares were steady at 8.6 cents at 12:48 pm AEST.

POS by the numbers
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