Poseidon’s Black Swan a golden goose

Poseidon Nickel has uncovered several gold anomalies while carrying out gold exploration at its Black Swan nickel project near Kalgoorlie, Western Australia.

During August, Poseidon collected 362 soil samples from a reconnaissance soil sampling program which took place over the entire Black Swan tenement package.

The soil samples were tested using the UltraFine+ technique, identifying four coherent anomalies across the program.

The anomalies extend over multiple soil traverses between 400m and 800m, along the interpreted gold bearing structures.

Poseidon chief executive officer Brendan Shalders discussed one of the anomalies, the Wilson’s Prospect, in great detail.

“We are particularly excited about the gold targets that are presenting at the Wilson’s Prospect,” Shalders said. “Results of the separate work programs to date are showing several positive coincident attributes underpinning the prospectivity for the targets.

“These include the establishment of a large coherent gold in soil anomaly with a footprint that captures the locations of the previously reported gold nuggets, anomalous rock chip samples and historical drilling intersections grading up to 6.41 [grams per tonne of gold].”

Shalders said despite Black Swan’s historical gold intersections, only five per cent of all drill-hole samples at the site were assayed for gold.

“Given the lack of gold assays and the historical focus on nickel, the gold potential at Black Swan has been somewhat overlooked,” he said.

“High priority infill soil sampling programs are underway to better define drill targets and progress the planning for low-cost shallow drilling programs.”

The results for the infill soil sampling at Black Swan are expected to be received in late October. Poseidon is also waiting to receive the results from the Lake Johnston soil programs completed during September.

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