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geological team led by Steve Warriner with a the month. Harold is confi-
bit of assistance from the guys at Newexco,” dent the findings will sup-
Harold told Paydirt. port at least three years of
“The history up there is that EM does work bonus cash for the compa-
pretty well to find more nickel sulphides and ny to spend on other areas.
even though it was a fairly weak response, “I think if we can mon-
it was still deemed to be a priority to drill as etise that, there’s a lot of
no drilling had been done in that area before. additional cash that could
“Historically there’s been over 40,000t of flow into the business and
nickel mined out of the Silver Swan channel, would help fund some nick-
which is only 300m away, and the average el exploration and poten-
grade of that was 5.5%, so to have already tially even a restart of the
landed two really significant intersections of Black Swan/Silver Swan
good grade is a fantastic result.” project,” Harold said.
Black Swan, the most advanced of Po- “Clearly no one who is The 2 mtpa Black Swan processing plant is a key piece of
seidon’s three assets all within 300km of a shareholder in Poseidon infrastructure in Poseidon’s nickel portfolio
Kalgoorlie, is also host to the mothballed Sil- bought shares for the gold
ver Swan underground mine which Harold story and so I think people
helped discover for MPI Mines during the see that as being a great opportunity which “What’s great about our projects is two of
mid-1990s. is kind of a bit of a sequel to the nickel.” the three have actually got plants sitting on
Poseidon boasts almost 400,000t of For Harold, running an exploration-fo- top of them already and it won’t take much
contained nickel in its portfolio, including cused company with an eye on development to get started again…whereas if you find a
149,000t at Windarra and 52,000t at Lake has proven to be far less stressful than sit- new discovery, to actually turn that into cash
Johnston which also hosts a 1.5 mtpa pro- ting behind the wheel of a producer such as takes a long time because you’ve got to build
cessing plant currently on care-and-mainte- Panoramic, which has so far been unable to a plant and get it all approved,” Harold said.
nance. Both projects are expected to receive revive its Savannah operation after initially “If we decide to press the button at either
more attention over the next six months, al- placing the Kimberley-based mine on care- Black Swan or Lake Johnston, it’s probably
though Harold indicated Golden Swan was and-maintenance in 2016 due to low nickel only a 12-month refurbishment and we’re up
still likely to be the company’s priority. prices. and going again.”
A feasibility study on retreatment of historic However, he doesn’t want to stay out of – Michael Washbourne
gold tailings on the Windarra site, along with the production game for too long and he be-
those from the recently acquired Lancefield lieves Poseidon is in the box seat to soon join
project, is due to be released at the end of the exclusive WA nickel producers club.

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aUSTRaLIa’S PaYDIRT OCTOBeR 2020 Page 85