Poseidon Nickel has recommenced exploration at its Lake Johnston lithium project in Western Australia.
The exploration follows a four-month hiatus where Poseidon focused on the Lake Johnston sales process, with planned surface sampling programs set to continue on the site’s Mantis Resources tenements.
Lake Johnston was the subject of a proposed acquisition earlier this year, with Mineral Resources (MinRes) set to purchase the site for a total of $15 million.
At the time, Poseidon said the $15 million would support its exploration of high-grade nickel discoveries, continuing with reduced care and maintenance activities at its Black Swan nickel project in WA, as well as pursuing new opportunities.
The Lake Johnston nickel concentrator plant has a 1.5-million-tonne-per-year capacity and is capable of being converted to treat lithium ores, including dense media separation fines.
However, the deal was called off earlier this month.
Now, it seems Poseidon is looking ahead to the future of Lake Johnston.
“We are very excited on the suite of quality lithium and nickel greenfields targets generated from recently completed low cost exploration programs at both the Lake Johnston and Windarra projects,” Poseidon chief executive officer Brendan Shalders said.
“With the recommencement of field activities, rock chip samples have been taken from numerous newly identified outcropping pegmatites in the southern Lake Johnston area.
“As generative programs continue at Lake Johnston, we look forward to keeping the market informed as results come to hand. Any regional exploration success for lithium or nickel at/or near the Lake Johnston plant has the potential for this infrastructure to be a processing centre.”
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
