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    • Delayed Prices (USD) - Last Updated 27-06-2022
    • Gold $1,826.40
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    • Copper $8,381.00
    • Lead $1,915.00
    • Nickel $22,400.00
    • Tin $24,590.00
    • Zinc $3,350.00

    Positive Phase 1 Drilling Results At Black Swan Nickel Project

    Poseidon Nickel Limited (ASX: POS) has announced the successful completion of Phase 1 Drilling under Black Swan Open Pit near Kalgoorlie, Western Australia.

    The company reported that the initial hole intersected 223.1m, @ 1.02%Ni disseminated nickel sulphides including 74m @ 1.5%Ni 900m below the Black Swan Open Pit while the second Hole intersected 292m of disseminated mineralisation with assays pending.

    Poseidon said that the initial results of diamond drilling at the high-grade Silver Swan Resource are expected this month.

    Part of the Black Swan Nickel Project

    Black Swan open pit is a part of Poseidon’s 100%-owned Black Swan Nickel Project. This project is located approximately 600km east of Perth and 50km northeast of Kalgoorlie, Western Australia and 300kms South of Poseidon’s Windarra Nickel Project.

    The Black Swan project comprises the Silver Swan underground mine, the Black Swan open pit and the Black Swan 2.2Mtpa Concentrator with 191,400t of nickel metal in resource. It may be noted that Poseidon’s re-interpretation of the deposit had culminated in the current Silver Swan Resource.

    The Black Swan disseminated and Silver Swan massive sulphide orebodies are separate mineralised komatiite channels with the Silver Swan massive sulphide deposit being formed first, closely followed by the Cygnet deposit and then the Black Swan disseminated deposit.

    Drilling Program at Black Swan Nickel Deposit

    The company’s current 1,004m diamond drilling program is targeting disseminated mineralisation 900m below the base of the Black Swan open pit and immediately adjacent to Poseidon’s Black Swan concentrator.

    The company said that the objective of the program is to commence investigation of the opportunity to extend the currently known resources and reserves in the Black Swan deposit, which extends at depth below the Black Swan open pit.

    Successful Drilling Results

    The company reported that initial hole PBSD001A intersected 223.1m @ 1.02%Ni (80m true width) including a higher grade hangingwall zone of 74m @ 1.5%Ni (25m true width), while second hole PBSD002 intersected greater than 250m of cloud to blebby disseminated mineralisation and was targeting mineralisation nearer to the footwall of the channel.

    Poseidon also said that the new intersections confirmed the grades obtained in two historical drillholes, SUD2574 and 08NBSD0052.

    Silver Swan Drilling

    The company had recently moved the diamond rig to the bottom of the Silver Swan decline to begin testing additional opportunities after Poseidon’s re-interpretation of the deposit.

    POS said that the initial results of this drilling are expected during this month. Poseidon is anticipated to undertake further resource definition and grade control drilling at Silver Swan to convert Inferred resources to Indicated resources.

    Future Plans For Black Swan Disseminated Project

    The company said that the latest drilling results, along with historically identified mineralisation are currently being reinterpreted. This is then expected to be integrated with the original Black Swan open pit recovery and geological data so as to further assess the economic potential of the Black Swan disseminated deposit.

    The company announced that this extensive dataset is expected to enable Poseidon to begin updating the Black Swan mineral resource utilising the additional drill data from the Gosling decline and the current drilling so as to commence studies into the potential for underground mining of the deposit.

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    • Delayed Prices (USD) - Last Updated 27-06-2022
    • Gold $1,826.40
    • Silver $21.14
    • Platinum $908.00
    • Palladium $1,802.00
    • Dalian Iron Ore i2209 $113.98
    • Aluminium $2,456.00
    • Cobalt $72,400.00
    • Copper $8,381.00
    • Lead $1,915.00
    • Nickel $22,400.00
    • Tin $24,590.00
    • Zinc $3,350.00