Cerberus is closely located to Poseidon’s existing operations approximately 10.5 km south of the Mt Windarra nickel mine. The discovery is the first major JORC compliant resource identified on the historic Poseidon tenements since the 1970’s and follows an intensive drilling programme conducted by Poseidon during 2007. The Cerberus Deposit is situated on the eastern side of the gently dipping eastern limb of the Mt Margaret Anticline. The Cerberus deposit comprises two lenses of relatively flat lying and north-easterly plunging mineralisation. The upper unit consists of disseminated nickel sulphide whilst the lower unit typically consists of stringer to massive nickel sulphide mineralisation. Both are hosted within the Windarra Ultramafic unit. The mineralisation occurs within a thick olivine cumulate ultramafic (komatiite) lava flow sequence. It occurs within the Windarra Ultramafic sequence but just above the basal contact with the underlying Corridor Ultramafic unit.
To date a JORC compliant resource at Cerberus of 4.55 million tonnes at a grade of 1.51% has been defined for a total of 68,600 tonnes of contained nickel metal.