Pardoo Nickel Project, Australia

Segue owns a 49% interest in the Pardoo Project which is prospective for nickel, copper and iron ore. Caeneus Minerals Limited (ASX: CAD) owns a 51% interest in the Project and is the project manager. Caeneus can increase its interest in the Project to 80% through the expenditure of an additional $250,000 by August 2017.

The Project includes the Highway nickel/copper resource and consists of two contiguous exploration licenses (E45/1866 & E45/4279) covering 300 km2 located on the Great Northern Highway, approximately 120km east-northeast of Port Hedland in the Pilbara region of Western Australia.

Pardoo Nickel Project

The Project tenements contain magmatic and shear-hosted nickel, copper and platinum group elements (PGEs).  The Pardoo Nickel Project is highly prospective for nickel sulphide mineralisation.  The total Inferred Mineral Resource at Highway is 50 million tonnes grading 0.30% nickel, 0.13% copper and 0.03% cobalt, reported above a 0.1% nickel cut-off grade.


JORC Classification

Cut-off & Ni

Material Type

Tonnes Mt

Ni %

Cu %

Co %

S%

Inferred

0.1

Weathered Sulphide

5.5

0.25

0.18

0.03

0.10

 

 

Fresh Sulphide

44.5

0.31

0.12

0.03

2.96

 

 

Total

50.0

0.30

0.13

0.03

2.65

Inferred

0.3

Weathered Sulphide

1.4

0.38

0.22

0.04

0.11

 

 

Fresh Sulphide

21.7

0.41

0.12

0.03

3.37

 

 

Total

23.0

0.41

0.13

0.03

3.18