Poseidon Nickel (ASX: POS) (“Poseidon”, “the Company”) is pleased to provide the following update on drilling program in the Silver Swan channel looking to increase the high-grade resource base.
- Silver Swan resource extension and infill drilling continues, 15 holes completed to date
- Significant mineralised intersections logged in the most recent holes including:
- PTMD005 – 4.9m of massive and stringer sulphides
- PTMD007 – 4.2m of massive and stringer Ni-Cu sulphides
- PTMD014 – 10.1m of massive and stringer Ni sulphides including 8.1m of massive sulphides
- PTMD015 – 6.2m of massive and stringer Ni-Cu sulphides including 3.8m of massive sulphides
- Assay results pending for all the holes not previously reported, including the holes in this release
- Down Hole EM planned on Peking Duck and Fledgling-Canard
- New Platform EM holes will be drilled below the known extent of Tundra Mute
Managing Director and CEO, Peter Harold, commented:
“We are pleased to see some good hits within the Tundra Mute Resource. The aim of this program is to increase the confidence in the resource, by converting existing resources from Inferred to Indicated and to potentially find high-grade mineralisation outside the current resources. These latest holes should assist in increasing the amount of material in the Indicated Resource category. We are also about to drill a couple of deeper EM holes and look forward to seeing whether the EM surveys detect any EM plates beyond the current extent of the know mineralisation.”
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