Poseidon Nickel’s (ASX: POS) multi-commodity assessment of the Windarra area in WA has identified promising gold in soil anomalies in addition to the recently identified nickel sulphide channels.
“After several years of negotiation with the WA State Government, the Poseidon Nickel State Agreement Act 1971 was terminated in early 2022 and the Windarra tenure was transitioned to mining leases. This has opened up significant opportunities at Windarra as the company obtained the right to mine and treat tailings for any metal, not just nickel, subject to normal permitting conditions,” Poseidon CEO, Brendan Shalders, said.
“Extending the recent northern Windarra geological assessment which has identified several high-quality nickel targets, to evaluate other commodities, the company has identified exciting gold in soil anomalies.
“Soil sampling conducted during 2010 initially identified these gold anomalies, but only nickel results from the sampling program were reported. Building upon the previous program, the Company has conducted additional regolith and structural mapping that has enhanced the potential of these anomalies with some promising gold targets being identified.
“These gold targets are interpreted to be along strike of the major mineralised regional gold trend, and on the western side of a large regional granitoid which has the Beasley Creek group of mines (total gold endowment of 1.2Moz) along its southern margin and the Lancefield group of mines (total gold endowment of over 4Moz) along the eastern margin.
“Further to the gold opportunity, historical high-grade lead-zinc-silver drill intersections have been rerated as part of the multi-commodity assessment. The mineralisation in the drilling is consistent with other Polymetallic Vein Hosted lead-zinc-silver discoveries seen elsewhere in WA.
“The exciting gold and lead-zinc-silver opportunities are in addition to the two exciting new channel structures considered highly prospective for nickel mineralisation, reported in February 2024. These opportunities open Windarra up to potentially being a multi-commodity project.
“The company is very excited by the exploration potential at Windarra and is now planning to test these exploration targets.”
