Perth-based Segue Resources (ASX code: SEG) has completed auger drilling at its Pardoo Iron Project, to establish surface detrital iron grades & collect samples for met testing.
The Pardoo Project is prospective for buried magnetite, iron rich surface detrital gravels, and channel iron deposits. The iron rich surface gravels could provide an opportunity for early cashflow.
The auger drilling program systematically tested a wide area with approximately 150, one metre deep, auger holes drilled across the area on a 400m X 100m spaced pattern.
Samples are currently being assayed to establish an average iron grade for the area and for any deleterious elements, with an additional suite of bulk samples to be sent for metallurgical testing to establish if a saleable product can be produced.
Promisingly, previously announced surface detrital gravels grab samples returned assay results up to 54.3% Fe, with an average grade of 44.6% Fe.
Segue plans to commence a new program in October consisting of at least three diamond drill holes, to further test the buried magnetite mineralised zone and provide fresh samples for additional metallurgical testing.
Segue’s Pardoo magnetite project is located approximately 120km east of Port Hedland and 15km from the coast.