Poseidon Nickel has now revealed a JORC 2012 Resource estimate of 30.7 million tonnes at 0.58% for 178,700 tonnes contained nickel for the recently acquired Black Swan Project.

Poseidon is acquiring the Black Swan Project from OJSC MMC Norilsk Nickel, and as the new project owner has now reported the resource to JORC 2012 standards as required.

The Black Swan resource includes an Indicated Resource of 8.4 million tonnes at 0.70% nickel, for 59,100 tonnes contained nickel.

Poseidon’s total resource base has now more than doubled to over 330,000 tonnes of contained nickel.

Golder Associates Private Limited have now re estimated the resource, and are familiar with Black Swan having previously carried out previous resource estimation work for Norilsk Nickel

Poseidon is looking to move Black Swan forward quickly, and has contracts for pre-start engineering activities, which are expected to be completed by the end of the month.

Last month Poseidon made a game changing pathway to production acquisition of the Black Swan processing plant from Norilsk Nickel that removes the AUD 300 million Capex from the equation. The cost was AUD 1.5 million.

As well as the ability to process large nickel inventory on site and the increase in throughput capacity. The processing plant will be able to process Windarra ores in addition to the large remaining nickel inventory on site.

The acquisition includes the Black Swan processing plant and Black Swan open pit mine containing 185,800 tonnes nickel in ore. (Source - www.steelguru.com)

(Source - www.steelguru.com)