Microsoft Word - SEG Plumridge Nickel Project Update 200515
20 May 2016
Market Announcements Platform ASX Limited
Exchange Centre, 20 Bridge Street
Sydney NSW 2000
MULTIPLE NICKEL SULPHIDE TARGETS IDENTIFIED AT PLUMRIDGE NICKEL PROJECT
ASX Code: SEG
Segue Resources Limited (Segue or the Company) is pleased to announce that MMG Exploration Pty Ltd (MMG), a wholly owned subsidiary of MMG Limited (HKEx: 1208, ASX: MMG), has completed the Stage 2 detailed gravity survey at the Plumridge Nickel Project in the Fraser Range Province of Western Australia. MMG has undertaken a 400m x 200m gravity survey to infill the broader gravity survey completed by Segue in 2015. The detailed survey consisted of over 16,000 stations and provides a significant increase in data resolution across the majority of the Plumridge Nickel JV area (Figure 1).
MMG has combined the newly acquired gravity data with existing datasets, including regional magnetics, drilling and geochemistry to identify potential nickel‐copper sulphide bearing mafic‐ultramafic intrusions. MMG has informed Segue that it will undertake a Moving Loop Electromagnetic (MLEM) survey over numerous target areas, to test for any conductive response associated with the anomalies, i.e. direct detection of potential massive Ni‐Cu sulphides. The MLEM survey is expected to commence in June 2016.
Commenting on the Plumridge Nickel Project, Segue's Managing Director, Mr Steven Michael, said:
MMG has completed one of the largest and most detailed gravity surveys in the Fraser Range, and has identified numerous target areas for an immediate ground EM survey. The quality and speed of MMG's exploration activities highlights the benefit to Segue and its shareholders of entering into the Plumridge Nickel JV.
About the Plumridge Nickel JV
Segue entered into the Plumridge Nickel Joint Venture (Plumridge JV) with MMG in 2015. Under the Plumridge JV, MMG is earning 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]
Page 1
Figure 1: Plumridge Nickel Gravity Survey (1VD with NE sunfilter)
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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.)
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Criteria
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JORC Code explanation Commentary
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Sampling techniques
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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 handheld XRF instruments, etc). These examples
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Includereference to measures taken to ensure sample Pty Ltd using Scintrex CG5 gravity meters with accuracies better than representivity and the appropriate calibration of any measurement 0.01mGal. Position and level data will be acquired with Leica GS14 tools or systems used. receivers operating in post processed mode to give horizontal and
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Aspects of the determination of mineralisation that are
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In cases where 'industry standard' work has been done this repeated to ensure quality and integrity. Preliminary data will be wouldbe relatively simple (eg 'reverse circulation drilling was used to delivered to the client for verification and infill planning every two days obtain 1 m samples from which 3 kg was pulverised to produce a 30 g oras requested
shouldnot be taken as limiting the broad meaning of sampling. Ground based Gravity Survey on a 400x 200m grid with infill over areas
of interest. The gravity survey is being undertaken by Atlas Geophysics
vertical accuracies greater than 0.05m. GPS control points within the
Materialto the Public Report. 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
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.
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Location of data points
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Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other
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Specification of the grid system used. accurate to1cm
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Quality and adequacy of topographic control.
locationsused in Mineral Resource estimation. Locations measured with a Leica Viva GS14 GPS system, with xyz
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Data spacing and distribution
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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.
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Whether sample compositing has been applied.
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Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known,
Line spacing for the survey is 400m (N‐S) with sample spacing at 200m (E‐W).
consideringthe deposit type. Geological structure in the Fraser Range generally runs N‐S, the survey
Orientation of data in relation to geological structure
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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.
being implemented reflects this with a relatively 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 MMG Ltd
regularly.
Audits or reviews
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The results of any audits or reviews of sampling techniques
and data. Data will be audited by geophysicists Newexco Pty. Ltd.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
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Criteria
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JORC Code explanation
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Commentary
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Type, reference name/number, location and ownership including 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
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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.
Mineral tenement and land tenure status settings.
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Tenements E28/1475, E39/1084, E39/1709 & 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.
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Exploration done by other parties
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parties.
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Acknowledgment and appraisal of exploration by other
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No previous nickel copper exploration undertaken by other companies prior to Segue
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Geology
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Deposit type, geological setting and style of mineralisation.
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Nova Style ‐ Mafic ‐Ultramafic intrusion related Ni‐Cu Sulphides
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