New DHEM Results Extend Potential Mineralisation Strike
Poseidon Nickel (ASX: POS) says that new Down Hole Electro Magnetic (DHEM) survey results are further demonstrating the growing opportunity of the new Golden Swan discovery in Western Australia.
The company has completed an additional drillhole approximately 120m to the south of the existing high-grade drill intersections, known as the Golden Swan mineralisation.
Hole PBSD0031 was designed to traverse below, and in close proximity to, the modelled footwall position to provide a platform for DHEM geophysics.
Managing Director and CEO, Peter Harold, revealed that a successful DHEM survey in PBSD0031, using the recently installed underground transmitter loop, has identified a new high conductance anomaly that extends the potential strike of the Golden Swan mineralisation
“At the Black Swan operations there is a long history showing the effectiveness of DHEM surveys leading to the discovery of massive nickel sulphides,” Mr Harold said.
“The new EM conductors reported today which potentially extend the know extent of the Golden Swan mineralisation are very exciting. The identification of the new footwall EM plates is as equally exciting as it demonstrates that the Southern Terrace has the potential to host multiple mineralised surfaces.
“The current drilling programme and investment to ongoing DHEM surveys is continuing to deliver outstanding results. We believe we have only just scratched the surface of the Golden Swan and Southern Terrace potential.”
Two newly modelled EM plates are contiguous, along strike to the south, of both existing mineralised drill intersections and EM plates and increase the potential strike of upper parts of Golden Swan mineralisation by 60m in a north-south direction.
Of the new plates identified in this survey, one is a high conductance anomaly of 20,000 Siemens and given there are no known other conductive sources to provide false anomalies at Black Swan, this new anomaly is interpreted to represent massive sulphides.
Combined with a potential dip extent of 170m, the opportunity for the Golden Swan mineralisation to grow in size continues to increase. Many of the individual orebodies previously discovered and mined in the Silver Swan Channel have strike extents less than that now being revealed at Golden Swan
In addition to the EM plates that indicate the potential southern extension of the Golden Swan mineralisation the survey in hole PBSD0031 has identified two new EM plates approximately 50m beneath the Southern Terrace surface to the south of known mineralisation.
Mr Harold said these new Footwall EM plates present an exciting new opportunity for a new mineralised system proximal to Golden Swan.
These two moderate conductance plates are interpreted by the company to represent nickel sulphide mineralisation and are located within an interpreted ultramafic re-entrant feature beneath the main Southern Terrace horizon. The drill drive recently approved by Poseidon’s board will provide an ideal location to drill test these new anomalies.