Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) has provided encouraging updates for both its Lake Johnston and Black Swan projects and Proactive’s Tylah Tully presents Just the Facts.
At Black Swan, it’s confirmed gold-bearing bedrock, further validating the project's gold potential.
Multiple rock chip samples anomalous in gold have been returned with grades up to one point two five grams per ton.
A total of 17 samples were collected from highly weathered quartz bearing shears exposed at surface.
The company also conducted a soil sampling program across the tenement and expects to receive assay results early next quarter.
Poseidon’s now collected a total of 67 gold nuggets at Black Swan, providing further confirmation on the prospectivity for gold.
At its Lake Johnston Project, initial soil sampling results have successfully extended the Billy Ray copper-gold soil anomaly by 200m into the largely untested Mantis tenement.
Sixteen samples were collected, seven returning anomalous levels of copper and gold.
It’s believed, based on these results, the anomaly remains open to the northeast and suggests the potential for a larger copper-gold system in the area.
The company is now planning a high-priority soil sampling program and preparing for drilling, with flora and heritage surveys underway.