Segue Resources Ltd Snapshot
Segue Resources Ltd (ASX:SEG) is a Western Australian focused minerals exploration company exploring for nickel and gold at the Plumridge Project in the Fraser Range Province and nickel-copper at the Pardoo Project.
Segue controls over 3,250km2 of exploration tenements at the Plumridge Project located in the Fraser Range Province. The Plumridge Project is highly prospective for massive nickel sulphide mineralisation, similar to the recently discovered Nova nickel-copper deposit. Segue has commenced a detailed and systematic exploration programme aimed at defining drill-ready nickel targets.
Segue has a 100% interest in 300km2 of exploration tenements at the Pardoo Project in the Pilbara region of Western Australia. The Pardoo Project is prospective for both nickel sulphide and buried magnetite. The Highway Deposit contains an Inferred Mineral Resource of 50 million tonnes grading 0.30% nickel, 0.13% copper and 0.03% cobalt.
Segue has a 100% interest in 1,500km2 of exploration tenements (granted and applications) at the Deralinya Project in the southern portion of the Fraser Range Province. The tenements are prospective for gold, base metals, mineral sands and uranium.
Fraser Range Projects, Australia
Segue is one of the largest tenement holders in the highly prospective Albany-Fraser Range Province of Western Australia, with control of exploration licences totalling over 5,000km2. The tenements contain the Plumridge Nickel and Gold Projects in the northern portion of the Fraser Range and the Deralinya Project in the southern Fraser Range. The Plumridge Nickel Project is Segue’s immediate exploration focus as it is highly prospective for Nova-style nickel-copper deposits.
All of the tenements are owned 100% by Segue.
Plumridge Nickel and Gold Projects
Segue controls 100% of 14 tenements in the northern portion of the Fraser Range Province totalling 3,250km2, which together form the Plumridge Project.
The Plumridge Project has previously been explored for gold, however very little base metal exploration has been conducted to date. The Plumridge Project is highly prospective for nickel-copper deposits, similar to Sirius Resources’ Nova-Bollinger deposit, which lies approximately 120km south-west along the Fraser Range Belt.
Segue has engaged Newexco Mining & Exploration Services to review, improve and evaluate the Company’s nickel sulphide exploration programme. Newexco was involved in the discovery of Western Areas’ Forrestania and Sirius’ Nova-Bollinger nickel sulphide deposits and brings a wealth of highly pertinent industry knowledge and experience to our team and exploration effort.
The exploration programme includes a significant amount of ground EM, bedrock drill sampling, multi-element geochemistry and down-hole EM to systematically reduce the number of targets whilst increasing the nickel sulphide prospectivity.
The Plumridge Project has previously been explored for gold along the western portion of the Plumridge Joint Venture tenements, which contain the Eastern Biranup Zone of the Albany Fraser Orogen. Several gold prospects have been discovered in the project area, including the Corvette gold prospect located approximately 60km southwest of the +5 million ounce Tropicana gold project. The Corvette gold prospect is a >5km long gold anomaly defined by air core drilling, with multiple intercepts of significant gold mineralisation in localised areas of reverse circulation drilling.
Segue has completed a review of previous bedrock drilling and oriented diamond drill-core which has allowed for the Company to better understand the local to district-scale structural controls on gold mineralisation in the Corvette area. To further improve our exploration model we are currently re-analysing over 16,000 drill-chip samples for gold-associated alteration mineral chemistry (PIMA study).
The integration of the alteration and structural studies may result in the definition of a number of new targets proximal to areas of known mineralisation. Segue plans to drill these targets after the initial nickel sulphide exploration programme is complete.
Segue has rights over five 100%-owned tenements in the southern portion of the Fraser Range Province totalling 1,500km2, which form the Deralinya Project. The tenements overlay the Central Biranup Zone of the Albany Fraser Orogen. The tenements are prospective for: 1) “Ida Fault extension” type gold; 2) shear zone hosted gold; 3) palaeochannel/shoreline mineral sands and; 4) palaeodrainage/salt lake hosted Mulga Rocks style uranium mineralisation.
Segue is currently reviewing available exploration data to define the most appropriate exploration model to pursue at the Deralinya Project. Segue has already identified a number of radiometric uranium/thorium anomalies on the margins of salt lakes which are readily accessible and easy to test.
Pardoo Nickel & Iron Project, Australia
Segue through its wholly owned subsidiary, Segue Pardoo Pty Ltd, is the owner of the Pardoo Project which is prospective for nicke, copper and iron ore.
The project includes the Highway nickel/copper resource and consists of two contiguous exploration licenses (E45/1866 & E45/4279) covering 300 km2 located on the Great Northern Highway, approximately 120km east-northeast of Port Hedland in the Pilbara region of Western Australia.
The Project is ideally positioned to benefit from Port Hedland's significant infrastructure of roads, power, rail and a deep sea port as well as the readily accessible Canning Basin water supply.
Pardoo Nickel Project
The Project tenements contain magmatic and shear-hosted nickel, copper and platinum group elements (PGEs). The Pardoo Nickel Project is highly prospective for nickel sulphide mineralisation. Snowden Mining Industry Consultants Ltd prepared an updated resource estimate for the Highway deposit during early 2010. The total Mineral Resource at Highway is 50 million tonnes grading 0.30% nickel, 0.13% copper and 0.03% cobalt, reported above a 0.1% nickel cut-off grade. Snowden has classified the resource in its entirety as an Inferred Resource.
|JORC Classification||Cut-off & Ni||Material Type||Tonnes Mt||Ni %||Cu %||Co %||S%|
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Last updated 2nd July 2015.
- 15 years of investment banking and mining research experience with RBC Capital Markets, Macquarie Bank and NM Rothschild & Sons.
- Significant experience in debt and equity financing of mining projects across the global resources sector.
- Holds a B.Com in Accounting and is a member of the Institute of Chartered Accountants.
- Twenty five years experience in international exploration and mining projects, including 16 years with WMC and 9 years with the Mitchell River Group of Companies.
- At Mitchell River Group, Dr Tabeart has led African Energy Resources through the discovery and acquisition of several coal and uranium deposits in Botswana and Zambia, building a portfolio of 8.7 billion tonnes of thermal coal.
- Dr Tabeart is a member of the Australian Institute of Geoscientists and a member of the Society of Economic Geologists.
- Seven years experience in listing rules compliance and corporate governance as principal Adviser at the Australian Securities Exchange (ASX).
- Previously an active member of the ASX JORC Group and has overseen the admission of over 100 companies on the ASX.
- Member of Governance Institute Australia and has an MBA from the University of Western Australia.
- Previously a Senior Adviser at the ASX with five years' experience in facilitating the compliance of listed companies.
- Member of Governance Institute Australia and sits on the Governance Council of Western Australia.
- Graduate Diploma (Applied Finance) from FINSIA and a B.Com from the University of Western Australia.
Last updated 2nd July 2015.
Segue Resources Ltd
ABN 49 112 609 846
ASX Code: SEG
16/40 St Quentin Avenue
Claremont WA 6010
Phone: (08) 9383 3330
Email: [email protected]
PO Box 886
Claremont WA 6910
Level 1, 914 Hay Street
Perth WA 6000
Fairweather Corporate Lawyers
595 Stirling Highway
Cottesloe WA 6011
Advanced Share Registry Services
150 Stirling Highway
Nedlands WA 6009
Last updated 2nd July 2015.