Poseidon Nickel Reports Maiden Resource Estimate for Silver Swan

Poseidon Nickel Ltd. (ASX:POS) announced an initial JORC 2012-compliant resource estimate for its Silver Swan mine, which it acquired earlier this year.
Highlights include:

• Initial Mineral Resource Estimation for the high grade Silver Swan nickel mine completed
• Estimated Resource base for Silver Swan Nickel Deposit of:
  • 106,600 tonnes @ 12.20% Ni for 13,000 tonnes of contained nickel
• Average grades are believed to be twice as high as the next highest grade mine in the World
• Restart study offtake and funding negotiations underway

The company also states:

Silver Swan is the highest grade, production nickel mine in the world with resource grades approximately twice that of the next highest resource. The ore produces a high quality smeltable concentrate and can be mined and flotation processed in conjunction with the company’s other nickel deposits. Importantly, Poseidon believes that the ore body can be economic even at low commodity prices. High grade extensions to the current resource are expected when further exploration drilling is completed underground.

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