Click to type date
20 July 2015
Market Announcements Platform
ASX Limited
Exchange Centre,
20 Bridge Street
Sydney NSW 2000
DRILLING OF HIGH PRIORITY TARGETS
TO COMMENCE AT PLUMRIDGE NICKEL PROJECT
ASX Code: SEG
HIGHLIGHTS:
Reverse circulation (RC) drilling programme to commence immediately at the Plumridge Nickel
Project for up to 1,500 metres.
Several high priority targets will be drill-tested to confirm the presence of mafic-ultramafic intrusions, commencing with targets E1 and E15 (north).
Drill programme is expected to be completed by mid-August followed by assaying and litho- geochemical fingerprinting.
Approval has been granted for additional drilling at all 15 high priority target ar eas.
Figure 1: Plumridge Nickel Project Location Map
Key Facts:
Segue Resources Limited
ASX Code: SEG Share price (17/7/15): 0.3¢
52 week range: 0.2¢-1.8¢
Shares on issue: 2,251m
Market cap.: $6.8m
Plumridge Nickel & Gold Project
Location: Fraser Range, WA Tenement holding (100%): 3,300km2
Deralinya Nickel Project
Location: Fraser Range, WA Tenement holding (100%): 1,700km2
Pardoo Nickel Project
Location: Pilbara, WA Tenement holding (100%): 330km2
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Segue Resources Limited (Segue or the Company) is pleased to announce that the next phase of drilling at the Company's Plumridge Nickel Project in the Fraser Range Province, Western Australia ( Figure 1) has been approved and is due to commence this week.
As previously announced, Segue has identified fifteen (15) exploration targets within two district-scale clusters in the northern and central parts of the Project area. All targets lie within the Transform Graben Zone (TGZ) identified from the recently completed gravity survey and are consistent with the Company's geological and mineral emplacement models.
Segue has completed modelling of detailed line data over each target in the northern cluster and determined the average depth to the interpreted intrusive body to be around 80 metres below surface. As a result of the shallowness of the target areas, Segue is commencing a 1,000 metre (up to
1,500 metre) RC drilling programme to test the priority target areas in the northern cluster. RC drilling has been selected for these targets as it will provide direct evidence of mafic-ultramafic intrusions, "fertile" litho-geochemistry and potential nickel-copper sulphides (Figure 2).
Figure 2: Schematic cross-section of a nickel-copper intrusive system
Approval has been received from the WA Department of Mines for drilling programmes (aircore and RC) covering all 15 high priority targets, although the initial drilling programme will focus on the northern cluster. The drilling contract has been awarded and an RC rig is mobilising to site. Access tracks and drill pads are currently being cleared and drilling is expected to commence this week.
The drill programme will continue for up to three (3) weeks, with availability for additional holes if required. Segue will be analysing samples on-site with a portable XRF, followed by chemical assaying and litho-geochemical fingerprinting. Figure 3 shows the location of the first two targets to be drill tested (E1 and E15) with Figures 4 & 5 showing details on each target area.
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Figure 3:Location map showing target areas E1 and E15
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RESOURCES LTD
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Unit 16, 40 St Quentin Ave
Claremont WA 6010
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PO Box 886
Claremont WA 6910
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T +·61 (8) 9383 3330
F +61 (8) 9l!86 4799
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SeQue Resources Limited ABN t.Q 112 609 8t.6
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RESOURCES LTD
Figure 4:E1 target with detailed magneties and gravity anomaly with proposed drilling
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Unit 16, 40 St Quentin Ave
Claremont WA 6010
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PO Box 886
Claremont WA 6910
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T +·61 (8) 9383 3330
F +61 (8) 9l!86 4799
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SeQue Resources Limited ABN t.Q 112 609 8Lo6
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RESOURCES LTD
Figure 5:E15 target with detailed magneties and gravity anomaly with proposed drilling
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Unit 16, 40 St Quentin Ave
Claremont WA 6010
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PO Box 886
Claremont WA 6910
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T +·61 (8) 9383 3330
F +61 (8) 9l!86 l!799
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SeQue Resources Limited ABN t.Q 112 609 8Lo6
For further information visit or contact:
Segue Resources Limited Mr Steven Michael Managing Director
T: +61 8 9383 3330
E: [email protected]
Competent Persons Statement
The information in this report that relates to Exploration Results is based on informat ion compiled by Mr Peter Langworthy who is a Member of The Australian Institute of Geoscientists. Mr Langworthy has more than five years' experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 20 12 Edition of the "Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves". Mr Langworthy consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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