Gold potential confirmed at Black Swan

Four promising gold in soil anomalies have been identified at Poseidon Nickel’s (ASX: POS) Black Swan project in WA.

In August, Poseidon collected 362 soil samples from a wide spaced reconnaissance soil sampling program with the samples then tested using UltraFine+ analysis.

The most coherent anomaly, which is located at the Wilson’s prospect, assayed up to 54 parts per billion (ppb) gold and measures 1.4km by 1km in size.

Furthermore, the anomaly covers an area adjacent to the previously reported gold bearing rock chips which graded up to 1.25g/t gold and it remains open to the south.

The presence of a gold in soil anomaly in this area defines a compelling gold exploration target at Black Swan that Poseidon will follow up on.

Poseidon chief executive Brendan Shalders commented on the 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,” he said.

“Despite the historical intersections, only 5% of all drill hole samples at Black Swan were assayed for gold.

“Given the lack of gold assays and the historical focus on nickel, the gold potential at Black Swan has been somewhat overlooked.”

Infill soil sampling has now begun at Black Swan with results to be received in late October and used for planning future shallow aircore and reverse circulation drilling programs.