The Poseidon Nickel expansion Exploration Golden Swan Nickel Mine Project is expected to be exploited in the middle of 2022.

According to recent reports, Poseidon Nickel is extending the drilling activity of the "Golden Swan" (Black Swan) resources project by 50 meters, which is expected to reduce the mine development time of the "Black Swan Nickel Mine" project in Western Australia. The decision means that the end point of drilling is nearly 50 meters from the mineralized area, and after a recent detailed review of the underground drilling program discovered by Golden Swan (Golden Swan). It will also provide better drilling angles for planned holes and reduce the number of holes drilled in ultramafic ore (less sensitive rocks).

Poseidon Nickel said mining contractor WestAuz has done an excellent job in drilling drivers and will continue to drill 50 meters. The drive is now scheduled to be completed in mid-April, and drilling contractors are scheduled to mobilize two other rigs to the Black Swan project on April 19, and drilling will begin shortly.

Peter Harold (Peter Harold), Managing Director and CEO, said: "the benefit of this change is that the total drilling volume of the resource drilling program has been reduced by about 1800 meters, so the projected time for completing the resource drilling program remains unchanged, the net cost is almost neutral, and the additional driver development costs are offset by lower drilling costs. This is a low-risk strategy that shows the active planning of our internal geological team, field personnel and mining consultants. In addition, assuming we decide to continue with mine development, the drilling driver will also be 50 meters closer to mineralization, which will help shorten production time and therefore be beneficial. "

Webdrill has acquired resource drilling, which will take about three months to complete the installation of the two rigs. The resource drilling is scheduled to be completed in mid-July 2021, which will enable Poseidon to report on Golden Swan's first resources in the third quarter. The aim of all these activities is to build up enough high-level inventory in Black Swan to enable the mining industry to resume mining after a 10-year hiatus, Peter Harold said. Our internal goal is to mine golden swans by mid-2022. "

Poseidon expressed confidence that Golden Diamond Resources drilling will outline the first resource, which will have sufficient tonnage to be exploited in the near future. Preparations are under way to resume mining activities in the first half of 2022 with an internal goal of producing marketable ore by mid-2022. The original plan was to sell DSO, which has begun preliminary discussions with potential buyers in Western Australia.