Poseidon Nickel (ASX:POS) has delivered a substantial increase in the Black Swan Disseminated Measured and Indicated Resources, further supporting the restart in Western Australia.
The updated Black Swan Disseminated Mineral Resource Estimate (MRE) delivers 26.3Mt at 0.72% nickel (previously 0.63%) for 189kt contained nickel.
“Completion of the updated Black Swan Disseminated Resource and block model is an important milestone for the company, underpinning the project operating model as we move towards the Final Investment Decision (FID),” Managing Director and CEO, Peter Harold, said.
“Black Swan has a 2.2Mtpa process plant and this resource upgrade is a key deliverable in our ‘Fill the Mill’ strategy to leverage off the existing infrastructure and large resource base at Black Swan.”
The Resource update incorporates the results from the recent 112-hole (10,845m) infill reverse circulation drill programme undertaken between December 2022 and March 2023.
”We are pleased the drilling and subsequent Resource update achieved a substantial 48% increase in the Black Swan disseminated Measured and Indicated Resources. The greater nickel inventory of ‘higher confidence’ mineral resources can now be considered in future ore reserves estimations.
“In addition, there is a much-improved understanding of the grade distribution within the metallurgically important serpentinite (low talc material) and talc-carbonate hosted ores below the existing Black Swan open pit. Understanding the distribution and metallurgical characteristics of these ore types is key to further de-risking the restart of Black Swan.”
For further information please visit: https://poseidon-nickel.com.au/