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Segue Resources adds Pilbara Gold Project to active schedule

Segue shares are up 27% intra-day, currently trading at $0.065.
Pilbara Gold Project central tenement
Segue’s tenements are adjacent to De Grey Mining

Segue Resources (ASX:SEG) has commenced a reconnaissance gold exploration program at its 100% owned Pilbara Gold Project in the Pilbara region of Western Australia.

This adds to an already busy exploration schedule for the company who is active at three other projects, which includes two drill programs.

Global investor interest in the Pilbara region has increased dramatically recently, driven by gold discoveries made by Novo Resources Corp (CVE:NVO), Artemis Resources Limited (ASX:ARV) and De Grey Mining Limited (ASX:DEG).

All three companies have drilled out significant conglomerate and orogenic gold mineralisation in the area.

A recent geological review at Segue’s Pilbara tenements confirmed rock formations known to host gold deposits.

Exploration program

Segue has commenced a reconnaissance exploration program at its central tenements to explore for alluvial gold shedding off prospective conglomerate horizons.

In addition, Segue will conduct first pass exploration over several major faults which are associated with the Mallina Shear.

The Mallina Shear is known to host several gold deposits including De Grey’s Indee Gold Project.

The exploration program is expected to be completed by the end of October 2017.

Multiple drill programs underway

Segue is a Western Australian focused minerals exploration company exploring for gold, lithium and nickel.

Its project portfolio includes:

- Barlee Gold Project;
- Malinda Lithium Project;
- Plumridge Nickel Project;
- Plumridge Gold Project;
- Pardoo Nickel Project; and
- Deralinya Nickel Project.

During late September, Segue commenced a 7,000-metre second phase of drilling at its Barlee Gold Project located in the Eastern Goldfields of Western Australia.

READ: Segue Resources commences drilling as shares rise further

At the company’s Malinda Lithium Project, assays remain pending from a 17-hole reverse circulation program that is working towards a maiden JORC resource for the project.

READ: Segue Resources drill results point towards maiden lithium resource

At the Plumridge Nickel Project, exploration is being funded by earn-in partner, MMG Exploration Pty Ltd, who can spend $6.5 million to earn 51%.

READ: Segue Resources takes to the skies for drill targets

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February 01 2019

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