The Company has purchased an option to acquire the right to treat the Lancefield Gold Tailings. If the option is exercised the Company will enter into a Royalty and Right to Treat Agreement with the licence holder of the Lancefield tailings, granting the Company the exclusive right to reprocess the gold tailings from the Project.
The Lancefield Tailings Mineral Resource estimate has been generated following a sonic drilling program undertaken during Q4 2020 at the Project which complemented a resource definition drilling program completed in 2009. The 2020 drilling program comprised 23 holes, ten of which twinned the previous drilling plus 13 additional holes. In addition to the 2020 drilling program, an extensive pulp re-assay program was carried out on the rejects from the 2009 drilling.
The Lancefield Gold Tailings will now be incorporated into the Definitive Feasibility Study currently being undertaken on the Windarra North and South Tailings Dams that contain an Indicated Mineral Resource totalling 105,000oz gold. The Definitive Feasibility Study is due for completion late Q1 2021.
Contact:
Tel: 61 (0)8 6167 6600
About
Poseidon owns the Windarra, Black Swan and the Lake Johnston Nickel Projects. In addition to the mines and infrastructure including concentrators at Black Swan and
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