Poseidon pivots to gold

Poseidon Nickel (ASX: POS) has identified promising gold targets at all three WA projects as the company looks towards production.

A large gold anomaly was defined at Lake Johnston, following the terminated Mineral Resources (ASX: MIN) deal. The 1.2km by 0.9km gold in soil anomaly remains open and untested by drilling.

Gold rock chip samples at Windarra returned up to 0.37g/t gold and 12.9g/t gold. Windarra contains strike extensions to the main mineralised gold trend which controls nearby gold camps.

A potential 6.5km gold corridor was also identified at Black Swan. A metal detecting program has recovered several small gold nuggets along the corridor with numerous historic shallow workings.

Only 5% of all previous drill samples at Black Swan were assayed for gold, making the site virtually untested.

Poseidon Nickel chief executive Brendan Shalders comments on this update.

“Continuing with our strategy to assess the greenfields potential for multiple commodities (nickel, lithium and gold) across our project portfolio, we have identified exciting prospective gold targets at all three of Poseidon’s projects,” he said.

“Given our significant infrastructure assets are strategically located within well-established mining regions any exploration success is highly leveraged for production, either at one of our sites or at proximal processing facilities.”

Poseidon plans to undertake a major soil sampling program at each project to progress nickel, lithium and gold targets.