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Poseidon Nickel Ltd.
Summary
| Project: | Black Swan | |
|---|---|---|
| Deposit: | Silver Swan | |
| Location: | Australia | |
| Commodities: | Nickel | |
| Date: | 2/11/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 11-2-2020: Poseidon Nickel Ltd. announces a Resource Estimation report for its Silver Swan deposit at the Black Swan project. Reserve update for Silver Swan. The Silver Swan Ore Reserve has been updated based on Mineral Resource that was announced to mark | |
| Resources: | (Reserve, Prob.): 130Kt @ 5.2% Ni at Silver Swan | |
| CP/QP: | [Overall Report]: Matthew Keenan (Entech Pty Ltd.) | |
| ABSTRACT: | The Silver Swan Ore Reserve has been updated based on Mineral Resource that was announced to market on 5th August 2019. The Ore Reserve estimate, prepared by Mining Consultants, Entech Pty Ltd is based on the mining methods, designs, schedules, cost estimates and modifying factors, which have been determined from a revision of the previous Silver Swan and Black Swan 2018 Feasibility Study (refer announcement 18 July 2018). The outcomes have been achieved as part of the ongoing derisking and restart studies being undertaken for Black Swan. The Ore Reserve economics are based on a processing recovery of 92.5% for nickel, commercial offtake terms and a nickel price of A$22,335/t. Copper and cobalt grades in concentrate do not reach assumed payable levels. The existing Indicated Resources have been converted to Probable Ore Reserves subject to mining modifying factors. Any Inferred material contained within the mine plan has been treated as waste. All material has been assumed to be processed at the Black Swan processing plant located at the site, in conjunction with material mined from the Black Swan open pit and surface stockpiles. | |
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