Poseidon Nickel (ASX:POS) (OTCMKTS:PSDNF) (FRA:NYG) has tabled one of its best intersections to date with results from the Golden Swan trend returning up to 2.1 metres at 13.79% nickel.
Within this intersection from 243.6 metres, which also included 0.66% copper, were 1.3 metres at 12.07% nickel and 1.02% copper and 0.8-metre at 16.5% nickel and 0.13% copper while the hole also returned 14 metres at 1.16% nickel from 279 metres.
Other strong results from the drilling were 5.65 metres at 1.97% nickel and 0.12% copper from 260.35 metres and 8.45 metres at 1.05% nickel from 259.55 metres.
Typical of nickel sulphide ore bodies
Speaking to the results, managing director and CEO Peter Harold said: “Drilling continues on the resource definition program at Golden Swan with one of our best high-grade intersections returned in hole PSGD025, together with some broad lower grade intersections.
“As the drill densities at Golden Swan increases, the Southern Terrace morphology and the distribution of massive sulphide within the trend have proven to be more complex than first envisaged, as is the case with many nickel sulphide ore bodies."
Recent Down Hole Electro-Magnetic (DHEM) survey results from holes that are peripheral to Golden Swan have also correlated well to the previously interpreted EM plates and the current mineralised extents.
Both resource definition drilling and generative programs to test the greater Southern Terrace potential are continuing.
Maiden resource this quarter
Harold said: “We will use the latest EM information to ensure that the areas with the strongest EM signatures that are typical of well-developed massive sulphides are thoroughly drill tested.
“In parallel, the Southern Terrace remains prospective outside the Golden Swan mineralised zone and further drilling and geophysics will be conducted within the greater Southern Terrace area.
“We will continue to release drill hole data as it comes to hand, culminating in the maiden Golden Swan resource during the September 2021 quarter.”
Golden Swan resource drilling
The resource definition program started in late April 2021 and is designed to increase confidence in the continuity of the Golden Swan mineralisation to JORC 2012 inferred and indicated levels by drilling up to 57 holes for 13,000 metres of NQ2 diamond drill core.
Drilling to date continues to indicate a well-developed, competent felsic footwall unit that has resulted in high advance rates.
As of July 4, the program remains ahead of schedule with 39 holes completed for a total of 11,222 metres.
While understanding of the mineralised Golden Swan zone increases, drilling is focused on following and infilling the mineralised zone to indicated resource levels of confidence.
The downhole EM program has been completed by Vortex using the Digi Atlantis system with the data processed and interpreted by Newexco.
Results confirm the known mineralisation around Golden Swan without reporting any strong conductors away from Golden Swan within the search constraints of 50 metres around the holes surveyed.