16 February 2015
Market Announcements Platform
ASX Limited
Exchange Centre,
20 Bridge Street
Sydney NSW 2000
DETAILED GRAVITY SURVEY AT E21 TARGET COMPLETED
ASX Code: SEG
Segue Resources Limited (Segue or the Company) is pleased to advise that data acquisition for the detailed gravity survey covering the high priority E21 Target at the Plumridge Nickel Project in the Fraser Range Province has been completed. The gravity survey consisted of 800 metre lines with 100 metre stations for a total of 2,063 stations covering an area of approximately 150km2 (Figure 1).
Data from the detailed gravity survey over the E21 Target has been sent to Segue's geophysical consultants for processing and integrated 3D inversion modelling of the magnetic and gravity data. The results of the
3D inversion modelling are expected to be received by the end of February and will form the basis for targeting the Company's next phase of drilling.
The modelling of the data is aimed at defining coincident magnetic and gravity anomalies either as discrete targets or corridors. These targets will then be assessed for follow-up electromagnetic surveys and/or drill programmes.
Figure 1 - Detailed gravity survey at E21 Target
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The gravity survey crew has now commenced a regional gravity survey covering Segue's remaining Plumridge tenements (approx. 2,850km2) which will be completed on 1,600 metre lines with 100 metre stations (Figure 2). The regional survey will cover the existing high priority nickel target areas (Figure 3) and 800 metre infill survey lines will be undertaken where necessary.
This comprehensive gravity survey will provide a high quality, fundamental dataset that can be integrated with the regional detailed airborne magnetic survey data. It is anticipated that it will confirm existing and identify new key litho-structural targets prospective for hosting mafic-ultramafic hosted nickel-copper deposits.
Figure 2 - Regional gravity survey at Plumridge Nickel Project
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Figure 3 - High priority nickel exploration target areas
For further information visit www.segueresources.com 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 t o 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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JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or
Sampling techniques
Location of data points
Data spacing and distribution
Orientation of data in relation to geological structure
handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
Aspects of the determination of mineralisation that are Material to the
Public Report.
In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.
Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation
Specification of the grid system used.
Quality and adequacy of topographic control.
Data spacing for reporting of Exploration Results.
Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied
Whether sample compositing has been applied.
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Ground based Gravity Survey on a 800x 100m grid (E21 target) and
1600x100m grid (Regional) with infill over areas of interest. The gravity survey is being undertaken by Atlas Geophysics Pty Ltd using Scintrex CG5 gravity meters with accuracies better than 0.01 mGal. Position and level data will be acquired with Leica GS14 receivers operating in post processed mode to give horizontal and vertical accuracies greater than 0.05m. GPS control points within the area will be established using the AUSPOS processing facility and static data recorded at 5 second epochs. Gravity control will be established via ties to local Atlas and AFGN stations. 3% of the survey will be repeated to ensure quality and integrity. Preliminary data will be delivered to the client for verification and infill planning every two days or as requested
Locations will be measured with a Leica Viva GS14 GPS system, with xyz accurate to 1cm
Line spacing for the survey will be either at 800m or 1600m (N‐S) with sample spacing at 100m (E‐W). It is anticipated that line spacing could come down to 200m and 50m station spacing during programs of infill surveying.
Geological structure in the Fraser Range generally runs N‐S, the survey being implemented reflects this with a relativly dense sample spacing (E‐W) and wide line spacing (N‐S)
Sample security The measures taken to ensure sample security. All data is digitally stored by the contractor and relayed to the geophysical consultancy on a regular basis.
Audits or reviews The results of any audits or reviews of sampling techniques and data. Data will be audited by geophysical Consultants Newexco Pty. Ltd.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Type, reference name/number, location and ownership including
Mineral tenement and land tenure status
agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
Tenements E28/1475, E28/2266, E28/2267, E39/1084, E39/1117,
E39/1118, E39/1709, E28/2317 & E39/1731 & E39/1710 are all owned by Segue (Plumridge) Pty. Ltd. a wholly owned subsiduary of Segue Resources Ltd. All tenements do not intersect any nature reserves, areas with native title or pastoral leases.
Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. No previous nickel copper exploration undertaken
Geology Deposit type, geological setting and style of mineralisation. Nova Style ‐ Mafic ‐Ultramafic intrusion related Ni‐Cu Sulphides
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
See text for Diagrams
Further work
The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
RC‐Diamond drilling of priority targets is anticipated for 2015 as well as stratigraphic regional aircore drilling.