Poseidon Nickel Announces Promising Gold Anomalies at Black Swan

Gold Potential at Black Swan

Poseidon Nickel has identified several gold anomalies at their Black Swan project through a wide-spaced reconnaissance soil sampling program. The anomalies extend over multiple soil traverses, ranging from 400m to 800m, along interpreted gold-bearing structures.

One of the most significant findings is at Wilson’s Prospect, where a coherent gold anomaly has been defined. This anomaly, which measures 1.4km by 1km, remains open to the south and includes previously announced gold nuggets and anomalous rock chip samples grading up to 1.25g/t Au in gossanous quartz veins.

Historical Data and Current Exploration

Several historical gold drill intersections with assay results greater than 1g/t Au, including 0.4m at 6.41g/t Au, are also located within the anomaly area. Despite this, only 5% of all historical drillhole samples were assayed for gold, indicating that the gold potential at Black Swan has been somewhat overlooked due to a historical focus on nickel.

Poseidon Nickel is currently conducting high priority infill soil and further grab sampling programs to better define soil trends at Black Swan. These results will be used to optimize drill targets. Additionally, maiden reconnaissance soil surveys have been completed across the newly acquired Mantis tenement at Lake Johnston, with results pending.

CEO's Comments

Brendan Shalders, CEO of Poseidon Nickel, commented, 'The soil sample assay results have noted four promising gold in soil anomalies. The extents of the anomalies and morphology appear to be tracing the prospective gold-bearing structures throughout the geological sequence at Black Swan, which have never been systematically tested for gold.'

Shalders emphasized the importance of these findings, stating, 'We are particularly excited about the gold targets that are presenting at Wilson’s Prospect. Results of the separate work programs to date are showing several positive coincident attributes underpinning the prospectivity for the targets.'

Future Plans

Poseidon Nickel plans to continue its exploration efforts at Black Swan, focusing on high priority infill soil sampling programs to better define drill targets and progress the planning for low-cost shallow drilling programs. The company is also awaiting the results from the Lake Johnston soil programs completed in early September 2024.

Once received and interpreted, Poseidon Nickel plans to undertake additional programs to progress and establish any newly identified gold targets within their portfolio.