Poseidon Nickel (ASX: POS, the Company) is happy to supply an replace of its gold exploration applications throughout its three initiatives.
- Geological setting at Black Swan confirmed to be beneficial for gold
- Gold bearing constructions recognized all through the geological sequence
- Geological setting proven to be similar to close by gold mines together with Kanowna Belle and Gordon Sirdar
- 52 gold nuggets discovered so removed from the interpreted gold bearing constructions
- Low-cost soil sampling program to be accomplished this month to raised outline the rising gold tendencies. Anomalies recognized shall be adopted up with drilling
- Felsic intrusive copper-gold system indicated at Lake Johnston
- LJPD0032 intersection of two.26g/t Au and a pair of.36% Cu confirmed as a mineralised felsic intrusive
- Affiliation of a broad, open ended, Cu-Au soil anomaly at Billy Ray and the doubtless hyperlink to the mineralised Cu-Au drill intersection beneath helps the prospectivity for a bigger Cu-Au system
- The Billy Ray Cu-Au soil anomaly is open and strikes into the newly acquired Mantis tenement, presenting a excessive precedence alternative to undertake a scientific, multi-element soil sampling program for the primary time
- Windarra alongside development of identified gold mineralisation
- Windarra is interpreted to include strike extensions to the primary mineralised gold development which controls close by gold camps – Lancefield and Beasley Creek
- Promising gold in soil anomalies inside the tenements and over this potential hall may also be adopted up with modern-day soil applications
CEO, Brendan Shalders, commented, “Current exploration actions have additional enhanced the gold prospectivity at Black Swan and Lake Johnston.
Black Swan is positioned inside the Boorara Geological Area which hosts quite a few gold mines together with the close by Kanowna Belle, Mungarra and Gordon Sirdar initiatives. The 52 gold nuggets recovered up to now enhances the prospectivity of the interpreted gold constructions that intersect with the geological sequences at Black Swan.
The group plans to finish a soil sampling program at Black Swan this month to additional take a look at the gold prospectivity on the venture.
At Lake Johnston, additional evaluation of the open-ended broad Billy Ray gold in soil anomaly has additionally confirmed coincident copper anomalism. When contemplating the doubtless hyperlink to the beforehand reported LJPD0032 drill intersection grading 2.26g/t Au and a pair of.36% Cu in a mineralised felsic intrusive, help is constructing for a bigger Cu-Au system within the space. Deliberate soil sampling throughout the Mantis tenement will embrace different essential pathfinder components helpful in focusing on intrusive associated gold techniques (Bi-Sb-Tb- As-Te-Ag), which weren’t assayed traditionally.
When contemplating the historic nickel focus in any respect of our initiatives, there was little or no sustained exploration for different commodities regardless of all three initiatives being positioned within the coronary heart of the Jap Goldfields area of Western Australia.
The just lately reported gold anomalies at Windarra, the elevated gold prospectivity at Black Swan and the rising Cu-Au potential at Lake Johnston all supply thrilling alternatives to hold out low-cost, excessive reward exploration applications while sustaining our nickel assets and infrastructure choices.
The pleasing progress reported right this moment and deliberate applications stay in line with our technique to assess the greenfields potential for a number of commodities throughout all three of Poseidon’s initiatives.”
Black Swan Geology Setting Beneficial for Gold Mineralisation
The Black Swan venture is located west of the Mt Monger Fault amongst a sequence of interpreted secondary constructions emanating from the first fault that are generally related to gold mineralisation. The secondary constructions are much like these controlling the Golden Valley and Kanowna Sequence which hosts quite a few massive gold deposits together with Kanowna Belle and Gordon Sirdar (see Determine 1).
Determine 1: Black Swan Regional Geology Map & Tenement Places
Komatiitic nickel deposits resembling Black Swan happen as channel like options which are interpreted to be following very early-stage crustal scale constructions that stay lively all through the Earth’s geological historical past. These long-lived constructions might turn out to be reactivated through the gold mineralising occasions which means that separate nickel and gold mineralisation occasions can share frequent structural associations (i.e. Beta Hunt).
Following on from the just lately reported gold nuggets found at Black Swan, steel detecting applications have thus far recovered a complete of 52 gold nuggets with a mixed weight of 17.9 grams.
The nuggets are small in measurement (usually <0.6 grams in weight) and angular, indicating restricted mobility and in-situ formation from a possible close by supply. The nuggets have been discovered clustered in a single space with the rest of the tenements not but examined.
A current discipline journey famous the gold nuggets are mapped inside hangingwall felsic volcanics with areas of quartz veining and breccias, and ferruginous lag which could possibly be a supply for gold mineralisation.
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