Poseidon Nickel Limited has completed the airborne and radiometric geophysical survey designed to assess nickel and lithium targets within the Lake Johnston tenements and the Abi Rose nickel discovery.
Poseidon said the work was completed with neighbouring tenement holders Lithium Australia, significantly reducing the acquisition cost of the survey.
“Interpretation of the radiometric data has defined multiple prospective anomalous trends,” Poseidon told the ASX.
“Numerous pegmatite outcrop trend have been located during field mapping and aerial photo interpretation, supporting the position and trend of many of the defined radiometric targets. The radiometric survey also highlights potential new target zones which had not been previously identified.”
The company said it plans to progress nickel and lithium exploration drilling at Lake Johnston, with preparations to submit regulatory clearing permits with the Department of Mines and Petroleum and the Department of Parks and Wildlife well underway.
“It is anticipated that aircore/RC drilling will commence early second quarter 2017 once approvals are secured and the drilling sub-contractor is mobilised. The results from the airborne MagSpec will also be applied to support the nickel exploration planned to extend to recently identified Abi Rose nickel discovery,” reads the company’s statement.
“Poseidon is working collaboratively with Lithium Australia which hold adjacent tenements in the Lake Johnston area. The Company plans to share resources to expedite the exploration and resource definition for lithium, tantalite and nickel in the Lake Johnston area.”