SOURCE: Business Review Australia

May 31, 2011 14:23 ET

Poseidon Nickel Brings New Life to Old Mine in Business Review Australia

SAN DIEGO, CA--(Marketwire - May 31, 2011) - Business Review Australia takes a look at Poseidon Nickel. Western Australia is the world's fourth largest nickel province, but the nickel bust in the late 1980s saw a decrease in price for base metals, resulting in the closing of several nickel mines throughout the region. In the late 1990s, Western Mining -- later acquired by BHP Billiton -- began selling off the nickel mines to independent mining companies seeking to use new technologies to revitalize nickel production in Western Australia. Startup company Poseidon Nickel acquired the Windarra Mountain nickel mine from BHP Billiton for remediation. But Poseidon quickly realized that it acquired much more than originally expected.

"The technology available for discovering nickel, and the geological understanding of how nickel is formed, has changed radically since the mines closed in the 1980s," says Poseidon Nickel Managing Director and CEO David Singleton. "Lava channels are now known to be host to nickel deposits, which tend to occur one-and-a-half to two kilometers apart along these channels. Poseidon acquired two nickel mines that are about 24 kilometers apart. We felt like there could potentially be a number of deposits lying in between these two mine sites. In late 2007 through 2008, in preparation to open the existing mine at Windarra, we set out to explore the possibility of greater nickel deposits along the geological belt. In 2008, in our very first truly regional exploration program, we discovered a new nickel ore deposit that we named 'Cerberus.'"

Read the full report, here.

About Poseidon Nickel

Poseidon Nickel Limited is based in Perth, Western Australia. Poseidon is a mineral exploration company which is listed on the Securities Exchange and holds exploration interest in nickel.

Poseidon's main activities are towards the exploration and development of nickel mineralisation in Mt Windarra 260km NNE of Kalgoorlie. Windarra consists of two leases, and one main lease covering a total area of 70 square kilometres.

The directors of Poseidon have extensive knowledge and experience of the WA goldfields, exploration and project finance which will be utilised to maximise project potential and return shareholder wealth.

About Business Review Australia

Business Review Australia is a leading digital media source of news and content for C-level executives focused on business and industry-specific news throughout Australia. Business Review Australia is the territory-dedicated arm of the White Digital Media Group. Founded in 2007 by entrepreneur Glen White, White Digital Media retains a diversified portfolio of websites, magazines, daily news feeds and weekly e-newsletters that leverage technology to innovatively deliver high-quality content, analytical data, and industry news. For more information, contact 1-760-827-7800 or visit http://www.businessreviewaustralia.com/.

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