Poseidon Nickel Limited (ASX:POS or the Company) is pleased to update the market that drilling has now commenced at Lake Johnston’s Medusa Lithium Project with Core Drilling Service contracted to complete up to an initial 4,000m of RC drilling. A specialised rubber track mounted RC rig has been engaged to minimise the drill rigs environmental footprint and to navigate the hilly-rocky terrain at Medusa.
Poseidon Nickel Chief Operating Officer, Mr Michael Rodriguez said, “The Lake Johnston Medusa Lithium Project lies in a highly prospective area with several ASX listed companies already exploring for and developing lithium mines in the region. The commencement of 4,000m of RC drilling at Medusa is a key milestone for the Company following significant works completed to date, leading up to this maiden lithium drilling program. With the Lake Johnston concentrator and mill located only 6km from Medusa, Poseidon will be able to fast-track production should an economic lithium deposit be defined.”
Medusa Lithium Project
The Medusa Lithium Project is located 190km south-west of Kalgoorlie (Figure 1) and 6km north of the Company’s 100% owned Lake Johnston process plant and infrastructure. Previous rock chip sampling of outcropping pegmatites returned results of up to 3.85% Li2O and evidence of Ta2O5. The Company has completed extensive exploration work to date in order to define the drill targets (ASX: Lithium Exploration Drilling at Lake Johnston, 12/1/17) and is now progressing to test these pegmatites for lithium-caesium-tantalum bearing minerals.