Poseidon Nickel enters another gold processing deal at Black Swan

Poseidon Nickel has entered a memorandum of understanding (MOU) with Empire Resources to evaluate the option of processing gold ore from the Penny’s Find project at Poseidon’s Black Swan processing facility.

Empire owns a 60 per cent interest in the Penny’s Find gold project and the remaining 40 per cent is held by unlisted Brimstone Resources. It is currently open pit mining at Penny’s Find and toll treating the ore via the Burbanks mill, 9km south of Coolgardie.

Penny’s Find is also 48km south east of the Poseidon’s Black Swan operations gold processing facility.

The Black Swan operations involve a 2.2 million tonne per annum (Mtpa) processing facility with a conventional SAG mill, five ball mills, two flotation circuits, multiple thickeners, three ceramic filters and a large concentrate storage shed.

With the addition of a carbon-in-leach (CIL) circuit, the process plant is capable of processing nickel, oxide and refractory gold ores.

Poseidon has entered MOUs with other companies to process gold ore at its Black Swan facility, including Aphrodite Gold and Northern Star Resources.

Poseidon chief operating officer Michael Rodriguez said, “Since announcing the company’s plans to establish Black Swan operations as a central gold processing facility a number of third party gold explorers and miners have expressed an interest in securing capacity at the facility.

“Poseidon welcomes the opportunity to engage with third parties to ensure the facility is operated at optimum throughput.”