Update on gold exploration programs at Black Swan and Lake Johnston

Poseidon Nickel (ASX: $POS) has confirmed enhanced gold prospectivity at its Black Swan and Lake Johnston projects. The geological setting at Black Swan has been verified to be favorable for gold, with the identification of gold-bearing structures throughout the geological sequence. Additionally, a felsic intrusive copper-gold system has been indicated at Lake Johnston, further supporting the company's gold exploration endeavors.

Executive Commentary on Gold Exploration Programs

CEO, Brendan Shalders, expressed satisfaction with the recent exploration activities, highlighting the enhanced gold prospectivity at Black Swan and Lake Johnston. The discovery of 52 gold nuggets at Black Swan has significantly increased the prospectivity of the interpreted gold structures intersecting with the geological sequences. The company plans to conduct a soil sampling program at Black Swan to further test the gold prospectivity. Furthermore, the assessment of the open-ended broad Billy Ray gold in soil anomaly at Lake Johnston has confirmed coincident copper anomalism, indicating the potential for a larger Cu-Au system in the area. These developments align with the company's strategy to assess the greenfields potential for multiple commodities across all three projects.

Summary of Gold Exploration Programs and Outlook

Poseidon Nickel's gold exploration programs have yielded promising results, with enhanced gold prospectivity at Black Swan and the indication of a felsic intrusive copper-gold system at Lake Johnston. The discovery of 52 gold nuggets at Black Swan and the identification of gold in soil anomalies at Windarra present exciting opportunities for the company to carry out low-cost, high-reward exploration programs. The planned soil sampling programs and drilling activities reflect the company's commitment to assessing the greenfields potential for multiple commodities across its projects. With the ongoing progress and planned programs, Poseidon Nickel remains focused on growing reserves and resources to eventually restart its processing operations, aiming to be a profitable and sustainable producer.