Poseidon Nickel’s (ASX:POS) latest assay results have confirmed a large and highly prospective Maggie Hays West nickel sulphide target and numerous regional targets requiring follow-up in the Goldfields of WA.
Highlights
- At Maggie Hays West an interpreted channel is supported by strong nickel mineralisation in drilling and a discrete magnetic high feature, which may represent a “pooling” of sulphides at the base of a thickened ultramafic unit.
- Drilling at Maggie Hays West intersected the base of the Western Ultramafic Unit (WUU), with results including:
- 28m @ 0.66% Ni, 187 ppm Cu from 20m, including 4m @ 1.32% Ni, 134ppm Cu from 40m from drill hole PLJA075.
- 8m @ 1.18% Ni, 143 ppm Cu from 40m from PLJA076.
- 24m @ 0.88% Ni, 220 ppm Cu from 12m, including 12m @ 1.16% Ni, 256ppm Cu from 20m from PLJ078.
- The drilling has also confirmed the thickening of the WUU to 300m on drill line 82700N (local grid) and the development of an embayed contact.
- Drilling has also defined six other targets for follow up with anomalous nickel present near the basal WUU contact.
- The drilling has also helped map the interpreted WUU basal contact, which is highly prospective for accumulations of nickel sulphide Kambalda-style mineralisation, such as the historically mined Maggie Hays nickel deposit.
Managing Director and CEO, Peter Harold, said the initial results from the drilling programme are extremely positive for a reconnaissance programme and confirmed several areas of coincident nickel copper anomalism at several prospects along the Western Ultramafic Unit basal contact.
“The results indicate the possibility of a mineralised, open ended channel target at Maggie Hays West that is up to 400m wide and corresponds to a discrete magnetic feature.
“This interpretation presents a compelling high priority target that warrants further drilling.
“The Western Ultramafic Unit opens up new opportunities for further discoveries and is an exciting development for Lake Johnston.
“The company looks forward to progressing exploration on the Western Ultramafic Unit.”
