Poseidon Nickel’s (ASX: POS) latest infill drilling assay results within the Tundra-Mute Inferred Resource boundary has identified an area of continuous well-developed massive nickel sulphides at the Silver Swan Project in Western Australia.
Managing Director and CEO, Peter Harold, said the recent exploration activity has been focused on the Silver Swan Channel which is aimed at increasing the high-grade resource and reserve base for the “Feed the Mill Strategy”.
“We are delighted that the recent Silver Swan drilling has returned a series of high-grade results which will most certainly add tonnes to the resource base at Tundra-Mute,” Mr Harold said.
“While these results are very significant on their own, the fact that the down hole EM survey has returned strong EM conductors is a good indication that there is additional high-grade mineralisation in the vicinity of the existing know mineralisation. T
“These are fantastic results and demonstrate the prospectivity of the Silver Swan Channel.”
Silver Swan Resource Exploration Programme
The Resource Infill drilling programme in Tundra-Mute is continuing with 23 holes completed and two more in progress. The latest results included an exceptional intersection in hole PTMD018 of 15m at 17.92% Ni from 265m.
Results include:
- PTMD005: 12.9m @ 10.63% Ni from 241.1m
- PTMD007: 6m @ 11.36% Ni from 257m
- PTMD014: 11m @ 13.26% Ni from 288m
- PTMD015: 3.5m @ 16.30% Ni from 287.9m
- PTMD018: 15m @ 17.92% Ni from 265m
Down Hole Electro Magnetic Survey
Eight drill holes were surveyed by Vortex Geophysics using an Atlantis Down Hole Electro Magnetic (DHEM) probe between November 26 and ecember 6 2021 with the interpretation of the results carried out by Newexco.
The survey highlighted seven plates with a conductance of >15,000 Siemens which is considered highly conductive. Within the Silver Swan setting, these readings are often indicative of the presence of massive sulphides.
When compared against drilling data, four of the plates can be explained using historical drilling and will not be tested further.
In relation to these untested plates the following information is relevant:
· PTMD022_EOH is a newly identified EM plate down plunge of the Silver Swan Mines is greater than 70m from any other drilling. Drilling stops quickly after passing the footwall contact due to ground conditions limiting the full effectiveness of the platform EM hole.
· PTMD005_EOH is a relatively small plate with historical drilling surrounding it constraining its extent. Follow up drilling is being considered.
· PTMD011_EOH is a small plate that is located on the lower edge of the Tundra-Mute inferred shape. Other drilling intersecting the periphery of the plate were thin but mineralisation could potentially be better developed elsewhere in the plate.
Follow up drilling is being considered. Other DHEM to be undertaken will be in Hole PTMD023 which is in progress. The results of the DHEM survey will provide important additional information to correlate existing high-grade intersections and determine its potential extents. The information will guide further drill testing in the area.
For further information please visit: https://poseidon-nickel.com.au/
