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ject but showing signs of being an interest-
ing orebody and features in our thinking.”
The company also has the original
Windarra nickel project in its portfolio with
current studies into the Cerberus deposit –
4.55mt @ 1.51% nickel – focusing on waste
sorting options to reduce processing costs.
“We are looking at many things, including
waste sorting options for Windarra, so we
can truck ore to Black Swan,” Riekie said.
Poseidon’s mix of defined resources
and existing infrastructure make it a unique
proposition in WA nickel circles. Its port-
folio has already attracted the attention of
Andrew Forrest’s Squadron Resources
The Abi Rose discovery has offered Poseidon further incentive to explore the well- Ltd (18% shareholder) and Black Moun-
trodden ground around Lake Johnston tain Metals Ltd (20%). Riekie believes the
company’s optionality makes it an attractive
tive results would follow. At Lake Johnston, the discovery of the proposition in a tight nickel market.
“All down-hole EM plates at the un- Abi Rose orebody has handed Poseidon “You need to remember, It would cost
derground Silver Swan deposit have the exploration impetus. Unlike the existing $150 million to build a new plant but Po-
features we’ve been chasing. There is a Emily Ann and Maggie Hays deposits, Abi seidon has two with Black Swan and Lake
200,000t resource of super high-grade Rose is an intrusive nickel-copper style ore- Johnston,” he said, “We have a short lead
nickel in the existing decline but there is body, leaving Poseidon plenty to ponder. time to production, only nine months, with
also potential below the pit for disseminated “All six holes at Abi Rose hit mineralisa- plenty of options about where we go from
sulphides of about 1% nickel. And, we be- tion,” Riekie said. “We have reinterpreted there.”
lieve there remains potential for high-grade the geology from there but it needs more
pods underneath.” drilling at some point. It is a long-term pro- – Dominic Piper

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aUSTRaLIa’S PaYDIRT OCTOBeR 2019 Page 89