Poseidon Nickel Anticipates Upgrade in Resource Calculation

Poseidon Nickel Ltd. (ASX:POS) released an update on its activities at Lake Johnston, a project that it acquired in November last year.

As quoted in the press release:

The work underway is likely to lead to a major upgrade of the resource classification at Lake Johnston which will be published in the coming weeks. Poseidon’s expectation is that as part of the upgrade, a much higher proportion of the resources will be converted to the indicated JORC category and therefore available for potential conversion to mining reserves.

David Singleton, managing director and CEO at Poseidon, stated:

We have committed to completing a full DFS on Lake Johnston and much of that was published in December last year. The key now is the resource and reserve modelling which is well underway. Whilst we can’t yet comment on the likely outcome, things are moving very positively.

Click here for the full Poseidon Nickel Ltd. (ASX:POS) press release