Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) has drilling underway at the Lake Johnston Nickel Project aimed at progressing several highly promising greenfield targets along the Western Ultramafic Unit (WUU) and at Maggie Hays West.
The aircore and reverse circulation (RC) drilling program will infill widely spaced traverses at each target to further delineate the geochemical dispersion and the morphology of the Western Ultramafic basal contact.
Results from the drill program will facilitate the design and priority of future deeper drilling programs targeting high-grade nickel deposits.
Nickel sulphide indicators
CEO Craig Jones said: “Following the successful Lake Johnston reconnaissance drilling program earlier this year that tested over a 14-kilometre strike of the Western Ultramafic Unit on widely spaced traverses, we are pleased to have commenced a further program to follow up the significant targets that were identified.
"The Western Ultramafic Unit drilling has so far delivered positive results with coincident nickel-copper and PGEs considered indicators for nickel sulphides and we are very excited about the prospectivity of the targets already defined.”
RC drill hole plan for regional targets and Maggie Hays West.
Follow-up program
The new drilling will follow up assays from shallow reconnaissance drilling in May 2023 that identified multiple targets with coincident zones of elevated nickel and copper, along with highly anomalous platinum group elements, confirming strong prospectivity for nickel sulphides.
This work has defined the WUU along 14 kilometres of the defined 17 kilometres of strike and delineated the interpreted overturned basal contact.
Assay results from this program’s 400-metre spaced lines along the WUU returned coincident nickel sulphide pathfinder (nickel-cobalt-copper and PGE) anomalous zones within the weathering profile at seven separate locations - Roundtop, Raggedy Ann, Johnny Turk, Maggie Hays North, Maggie Hays West, Windy Hill and Jaymee Ruth.
All prospects identified along the WUU warrant follow-up with drilling now underway to achieve this goal.
Aircore and RC drilling
There are two main components of the drill program now underway – 18 holes of aircore drilling and seven slimline RC holes at Maggie Hays West along with an additional seven slimline RC holes at six other regional prospects along the WUU.
The aircore component will be carried out first along the 700-metre strike extent of the embayment feature with the aim to better define the position and morphology of the basal contact of the WUU with the underlying BIF unit in this area. Drilling is planned on 100-metre spaced sections.
Once the position and morphology of the WUU/BIF contact has been better defined, the drill program will transition to deeper RC drilling with the aim to obtain comprehensive fresh rock geochemical data on the cumulate textured WUU rocks recognised along the contact in this area.
The aim of the RC drilling to be undertaken on the six regional prospects is to follow up the anomalous geochemistry identified by the earlier wide-spaced drill program by testing the basal WUU/BIF contact at depth beneath these anomalies using the existing drill lines.