Poseidon Nickel to Drill at Johnson Lake Project

Poseidon Nickel Ltd. (ASX:POS) announced plans to drill a “highly prospective structurally-offset electromagnetic target” that was identified next to the Emily Ann deposit at the Johnson Lake project. Emily Ann was a high-grade massive nickel sulfide deposit.
Highlights include:

• Poseidon to commence exploration drilling at Lake Johnston with the aim of increasing overall mine grades to reduce production costs further
• Lake Johnston was host to the Emily Ann deposit which averaged a resource grade of 4.1% nickel and produced 46,000 tonnes nickel
• Geological re-examination suggests the Emily Ann deposit was terminated by a fault and extensions maybe offset along that fault
• Detailed geophysical analysis by Poseidon and independent specialist experts indicate strong electrical conductor in region of likely fault offset
• Poseidon will test electrical conductors with targeted surface drilling
• The drilling programme is 50% co-funded by the West Australian Governments Department of Mines and Petroleum (DMP) via its Exploration Incentive Scheme (EIS)

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