Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) has refined three gold-in-soil trends the company describes as “promising” at the Wilson’s, Wattle and Ellison prospects of the Black Swan Project in Western Australia.
The gold anomalies were first identified in a maidan reconnaissance gold soil program carried out in September 2024, the first instance of systemic gold exploration on the project.
An infill ultrafine+ soil program over known gold anomalies has doubled the size of Wilson’s anomaly to 2.5 kilometres by 1.5 kilometres with peak gold values of 79 parts per billion (ppb) at surface, remaining open to the southeast for further exploration.
The company also confirmed the presence of elevated soil gold values in coherent linear trends at the Wattle (1.2 kilometres by 1.3 kilometres, 33 ppb gold) and Ellison (1 kilometre by 1 kilometre, 43 ppb gold) prospects, pointing to a potential gold system deeper within the rock.
First systemic gold exploration
“Infill soil results have successfully refined and expanded three promising gold in soil trends named the Wilson’s, Wattle and Ellison soil anomalies,” Poseidon Nickel CEO Brendan Shalders said.
“The Wilson’s Prospect is the most advanced gold target at Black Swan that has an associated northwest striking gold in soil trend that captures the locations of the anomalous quartz veins, recovered gold nuggets and several historical gold-bearing drill intersections that are potentially all linked to a gold-bearing structure beneath.
“The positive exploration results reported today at Black Swan will be instrumental in guiding additional low–cost exploration programs including shallow drilling to further evaluate these gold targets.
“The progress of gold programs at Black Swan is also complementary to the proposed merger with Horizon.
“If the merger proceeds, the combined entity intends to continue these exploration programs which would support any potential future processing of gold ores at Black Swan.”
POS believes the Wilson’s anomaly has the characteristics to underpin a highly prospective gold target.
The company intends to undertake further infill soil sampling as well as shallow aircore and/or reverse circulation drilling to test the anomalies below the surface – Poseidon is now preparing the necessary statutory approvals.