Poseidon Nickel provides update on gold exploration programs at Black Swan

Poseidon Nickel (ASX:POS) has announced the identification of several gold anomalies through reconnaissance soils sampling at Black Swan. The anomalies, extending over multiple soil traverses, have revealed a coherent gold anomaly of up to 54ppb Au, with historical drill intersections showing assay results greater than 1g/t Au. The company's CEO, Brendan Shalders, expressed excitement about the gold targets at Wilson's Prospect and highlighted the ongoing gold exploration programs at the site.

Executive Commentary on Gold Exploration Programs

During August 2024, Poseidon Nickel completed a wide spaced reconnaissance soil sampling program at Black Swan, identifying four promising gold in soil anomalies. The extensive anomalies and morphology appear to trace the prospective gold bearing structures throughout the geological sequence at Black Swan. The CEO emphasized the significance of gold in soil anomalies as potential vectors to prospective gold systems below, indicating the need for drilling to effectively test the targets. The company is particularly enthusiastic about the gold targets at Wilson's Prospect, where separate work programs have shown positive coincident attributes underpinning the prospectivity for the targets.

Summary of Gold Exploration Update

Poseidon Nickel's update on the gold exploration programs at Black Swan has revealed significant gold potential at Wilson's Prospect, with coherent gold anomalies and historical drill intersections indicating the presence of gold mineralization. The company is currently conducting high priority infill soil and grab sampling programs to better define soil trends and optimize drill targets. The ongoing evaluation programs point to a highly prospective exploration target at Wilson's Prospect. Additionally, the company is awaiting results from the maiden reconnaissance soil surveys at Lake Johnston, with plans to undertake additional programs to progress and establish any newly identified gold targets within the portfolio. Poseidon Nickel's focus on targeted exploration and business development aligns with its strategy to grow reserves and resources for the eventual restart of its processing operations, aiming to be a profitable and sustainable producer.