Exploration and Gold Tailings Update

Poseidon Nickel Limited (ASX: $POS) has released an exploration and gold tailings project update, highlighting positive assay results at the Maggie Hays West prospect. The latest drill assay results have confirmed a strong, 1km coherent Ni-Cu-PGE regolith anomaly at Maggie Hays West, with significant intervals grading up to 2.37% Ni, 624ppm Cu, and 353ppb Pt+Pd. The company's CEO, Craig Jones, expressed satisfaction with the exploration activities, particularly at Lake Johnston, where nickel exploration activities have shown promising results.

Executive Commentary

CEO, Craig Jones, commented: 'the Company continues to advance its exploration activities on several fronts. At Lake Johnston, the nickel exploration activities have been focussed along the highly prospective Western Ultramafic Unit with results returning elevated nickel and platinum group metals that support the existence of the extensive Maggie Hays West anomaly and potentially points towards a mineralised channel. A review of the lithium potential is well underway at Lake Johnston with soil samples containing elevated Lithium and indicator minerals located towards the southern end of our tenements.'

Summary

The exploration update from Poseidon Nickel Limited has revealed promising results at the Maggie Hays West prospect, with significant intervals of nickel, copper, and platinum group metals. The company's focus on the highly prospective Western Ultramafic Unit at Lake Johnston has shown elevated nickel and platinum group metals, indicating the existence of the extensive Maggie Hays West anomaly. Additionally, the review of the lithium potential at Lake Johnston has shown elevated lithium and indicator minerals, suggesting a significant opportunity for the company. The positive results from the metallurgical testwork at Windarra present opportunities to improve gold extraction and consider incorporating the nickel tailings sample into the production profile for the Windarra Gold Tailings Project. Poseidon Nickel's engagement of a specialist consultant for the Windarra exploration opportunities demonstrates the company's commitment to realizing the potential of its projects.