Gold Prospectivity Enhanced at Black Swan and Lake Johnston
Poseidon Nickel (ASX: POS, the Company) is pleased to provide an update of its gold exploration programs across its three projects.
- Geological setting at Black Swan confirmed to be favourable for gold
- Gold bearing structures identified throughout the geological sequence
- Geological setting shown to be very similar to nearby gold mines including Kanowna Belle and Gordon Sirdar
- 52 gold nuggets found so far from the interpreted gold bearing structures
- Low-cost soil sampling program to be completed this month to better define the emerging gold trends. Anomalies identified will be followed up with drilling
- Felsic intrusive copper-gold system indicated at Lake Johnston
- LJPD0032 intersection of 2.26g/t Au and 2.36% Cu confirmed as a mineralised felsic intrusive
- Association of a broad, open ended, Cu-Au soil anomaly at Billy Ray and the likely link to the mineralised Cu-Au drill intersection beneath supports the prospectivity for a larger Cu-Au system
- The Billy Ray Cu-Au soil anomaly is open and strikes into the newly acquired Mantis tenement, presenting a high priority opportunity to undertake a systematic, multi-element soil sampling program for the first time
- Windarra along trend of known gold mineralisation
- Windarra is interpreted to contain strike extensions to the main mineralised gold trend which controls nearby gold camps – Lancefield and Beasley Creek
- Promising gold in soil anomalies within the tenements and over this prospective corridor will also be followed up with modern day soil programs
CEO, Brendan Shalders, commented, “Recent exploration activities have further enhanced the gold prospectivity at Black Swan and Lake Johnston.
Black Swan is located within the Boorara Geological Domain which hosts a number of gold mines including the nearby Kanowna Belle, Mungarra and Gordon Sirdar projects. The 52 gold nuggets recovered to date enhances the prospectivity of the interpreted gold structures that intersect with the geological sequences at Black Swan.
The team plans to complete a soil sampling program at Black Swan this month to further test the gold prospectivity at the project.
At Lake Johnston, further assessment of the open-ended broad Billy Ray gold in soil anomaly has also confirmed coincident copper anomalism. When considering the likely link to the previously reported LJPD0032 drill intersection grading 2.26g/t Au and 2.36% Cu in a mineralised felsic intrusive, support is building for a larger Cu-Au system in the area. Planned soil sampling across the Mantis tenement will include other important pathfinder elements useful in targeting intrusive related gold systems (Bi-Sb-Tb- As-Te-Ag), which were not assayed historically.
When considering the historical nickel focus at all of our projects, there has been very little sustained exploration for other commodities despite all three projects being located in the heart of the Eastern Goldfields region of Western Australia.
The recently reported gold anomalies at Windarra, the increased gold…
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