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Poseidon’s Black Swan makes strong progress

Poseidon, black swan, nickel

Poseidon Nickel has provided details of the recent progress made at its flagship projects located in Kalgoorlie, Western Australia.

Poseidon Nickel chief executive officer Craig Jones said that the company continues to progress several workstreams, specifically preparing the Black Swan project for a future restart after being on hold since July due to uncertain global market conditions.

“At the Black Swan project, work programs have continued to ensure the company will be in a strong position to quickly proceed to FID (final investment decision) and take full advantage of any future nickel price upswing, while a significant reduction in site holding costs has been achieved,” Jones said.

“The company continues to prepare itself for a future FID at the Black Swan project with a cost-efficient option for 150 accommodation rooms in Kalgoorlie being secured that meets the personnel requirements as per the bankable feasibility study.

“In addition, positive results were received from initial confirmatory metallurgical testwork for the Black Swan disseminated ore, indicating the non-sulphide nickel content is consistent with the bankable feasibility study assumptions.”

The Black Swan expansion project’s scoping study also remains on track to be completed late in 2023.

Last month, Poseidon completed an aircore and reverse circulation drilling program at its Lake Johnston project.

1049 samples were collected from the program and were dispatched to SGS’s Perth Laboratory for analysis, with all results expected to be returned in early December.

“It’s early days on this exciting development however the opportunity is highly rated by our geological team. We are also reviewing the lithium prospectivity of our Lake Johnston tenements with validation of database records as a first step, followed by field reviews with support from a lithium expert,” Jones said.

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