Poseidon Nickel reports on new deposit at Windarra

Perth-based Poseidon Nickel has reported on a new deposit at its Mount Windarra project in Western Australia.

The Cerberus deposit is the first major JORC compliant resource to be identified at the project since the 1970s and follows an intensive drilling programme conducted during 2008.

The company has revised the resource at the project to more than 88,000 tonnes of contained nickel, increases its resource base on the wholly-owned Windarra tenements by 40% at an average grade of 2.45%.

Poseidon’s total indicated and inferred resource at Windarra is now 88,369 tonnes of contained nickel metal.

The Cerberus deposit consists of three types of nickel sulphide mineralisation and the company says it is confident of further resource increases as drilling continues.

Poseidon’s main activities are towards the exploration and development of nickel mineralisation at Windarra although it also has two gold mineralisation exploration interests in Ghana, West Africa, both of which are in the country’s Ashanti Gold Belt.