Poseidon Nickel has released an update regarding enhanced copper-gold and lithium targets, following exploration programs at its Lake Johnston project.
Poseidon Nickel CEO, Brendan Shalders, said that following completion of its recent soil sampling program at Lake Johnston, the company continues to receive positive results that have enhanced the greenfield opportunities at this project.
“These include the copper-gold opportunities at Billy Ray and Norfolk Prospects, and the lithium potential across the Mantis tenement E63/2244,” Mr Shalders said.
“Due to the historic nickel focus, large areas of the Lake Johnston greenstone belt that are prospective for gold, lithium and base metals have been under explored with no surface geochemistry coverage or assays for these targeted metals.
“The maiden Mantis soil program is part of a larger systematic program that will be assayed for a broad suite of pathfinder elements to provide baseline coverage for the first time over the entire Lake Johnston tenement package. The results from the Mantis program have been very successful on several fronts.”
Mr Shalders said that the Billy Ray Prospect is a coherent bullseye shaped copper-gold anomaly extending onto the Mantis tenement, with the highest values concentrated on the eastern margins which have not been drill tested.
“The western extent of the soil anomaly is supported by the previously reported mineralised Cu-Au drill intersection, which supports the prospectivity for a larger Cu-Au system. The company is currently working on getting all the permitting approvals to allow for priority drilling to test this promising target.
“The Norfolk Prospect presents a second emerging gold exploration target in the region based on a promising gold in soil anomaly that has been successfully extended onto the Mantis JV tenements.”
Mr Shalders said that the results have also identified a large 2.3km by 3.4km lithium anomaly which remains open to the west with a maximum soil sample value of 495ppm lithium oxide (Li2O) extending south from lithium bearing pegmatites which returned high grades from 2.80 per cent up to 3.85 per cent Li2O.
“Further to this, the anomalous values noted are commensurate to other anomalies previously reported by peer lithium explorers in the Lake Johnston region.
“Further infill soil sampling within the Mantis tenements is scheduled to start shortly to progress copper, gold and lithium targets in parallel.
“The company has also completed infill soil sampling at Black Swan during the second half of September 2024, awaiting results. The information obtained will be used for planning drill programs to test the gold targets identified.”
