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17 June 2016
Market Announcements Platform ASX Limited
Exchange Centre, 20 Bridge Street
Sydney NSW 2000
GROUND EM SURVEY COMMENCES AT PLUMRIDGE NICKEL PROJECT
ASX Code: SEG
Segue Resources Limited (Segue or the Company) is pleased to announce that MMG Exploration Pty Ltd (MMG) has commenced a detailed Ground Moving Loop Electromagnetic (MLEM) survey at the Plumridge Nickel Project in the Fraser Range Province of Western Australia. The survey will test an initial portfolio of 10 target areas (Figure 1) for a conductive response, i.e. direct detection of potential massive Ni‐Cu sulphides. The MLEM survey is expected to be completed by mid-July 2016.
Figure 1 - Plumridge Nickel Project showing 1VD gravity image with MLEM targets
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About the Plumridge Nickel JV
Segue entered into the Plumridge Nickel Joint Venture (Plumridge JV) with MMG, a wholly owned subsidiary of MMG Limited (HKEx: 1208, ASX: MMG), in late 2015. Under the Plumridge JV, MMG has a right to earn an initial 51% interest in eight exploration licences at the Plumridge Nickel Project by investing
$6.5 million in exploration activity by December 2019 (Stage 1). MMG can increase its interest to 70% by investing an additional $7.5 million within two years of completing Stage 1.
For further information visit www.segueresources.com or contact:
Segue Resources Limited Mr Steven Michael Managing Director
E: [email protected]
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