Poseidon Drills High Grade Intersections at Silver Swan

Poseidon Nickel (ASX:POS) has uncovered high grade nickel intersections at its Silver Swan deposit through an ongoing drilling program.

Highlights from the press release are as follows:

• Poseidon’s drilling program at Silver Swan extends high grade sulphide nickel ore bodies

• Initial assay from the first three holes of the current program at Silver Swan has confirmed some of the highest grade sulphide nickel intersections achieved so far

  • PBSD003 – 5.9 meters at 9.92 percent nickel (True width 2.5 meters)

  • PBSD005 – 7.48 meters at 10.89 percent nickel (True width 2.9 meters)

  • PBSD006 – 13 meters at 5.64 percent nickel (True width unavailable, exited footwall)

• The continuing 3,000 meter Silver Swan drilling program will be completed over the next 5 weeks with assays to follow thereafter

• The above drilling results, combined with the recently completed positive two-hole drilling program at Black Swan, together with historical drilling data, will enable geological modeling to be progressed in respect to the overall continuity of the Black Swan Disseminated deposit and the extent of the Silver Swan deposit

  • PBSD001A – 223.1 meters at 1.02 percent nickel (including 74 meters at 1.5 percent nickel)

  • PBSD002 – 289 meters at 0.62 percent nickel (True width 75 meters)

Rob Dennis, Poseidon Managing Director, commented:

“We are extremely excited with the Silver Swan results. By any measure the results have exceeded our expectations with the results at Silver Swan demonstrating some superior nickel grade and solid true width intersections.

The two pronged approach we have adopted has been designed to test the potential and extension of ore sources at both Black Swan and Silver Swan. Combined, these drilling programs have yielded some extremely positive outcomes by virtue of grade width and scale and have prompted us to reassess and accelerate our future drilling programs.”

Click here to read the full press release from Poseidon Nickel.