Fraser Range Projects, Australia
Segue is one of the largest tenement holders in the highly prospective Albany-Fraser Range Province of Western Australia, with exploration licences totalling over 3,300km2. The tenements contain the Plumridge Nickel and Gold Projects in the northern portion of the Fraser Range and the Deralinya Project in the southern Fraser Range. The Plumridge Nickel Project is a joint venture between Segue and international base metals company, MMG Limited (HKEx: 1208, ASX: MMG).
Plumridge Nickel Project
Segue and MMG Exploration Pty Ltd (a wholly owned subsidiary of MMG Limited) have entered into the Plumridge Nickel Joint Venture, covering eight exploration licences (~2,500km2) in the northern Fraser Range Province. Under the joint venture, MMG can earn an initial 51% interest in the Project through the expenditure of $6.5 million on exploration by December 2019. MMG can then elect to increase its interest to 70% through the expenditure of an additional $7.5 million within two years.
The Plumridge Nickel Project is highly prospective for nickel-copper deposits, similar to the Nova-Bollinger deposit (owned by Independence Group NL), which lies approximately 200km south-west along the Fraser Range Belt.
During 2016, MMG completed a high resolution gravity survey over the majority of the Project area. The gravity survey data was combined with other geophysical and geological datasets to define over 30 target areas. MMG commenced moving loop electromagnetic (MLEM) surveys to test the target areas and identify conductors for drill testing. By the end of 2016, only 15 targets areas had been tested.
In April 2017, MMG is planning to complete a ~6,000 line kilometre, low frequency, high power, airborne (helicopter) EM survey. Data from this survey will be used to define and rank targets for follow up with high powered, low frequency, fixed loop ground EM. MMG plans on completing RC drilling on the highest priority targets in July/August 2017.
Plumridge Gold Project
Segue has a 100% in 4 tenements on the margin of the Eastern Biranup Zone and Fraser Range Province, totalling 450km2, which form the Plumridge Gold Project.
Historical exploration has focussed on a 12km semi-continuous zone of gold endowment at the northern end of the Harris Lake Shear Zone, approximately 60km southwest of the +7moz Tropicana Gold Project. Several gold prospects have been discovered in the Project area along the Harris Lake Shear Zone, including the Corvette, Stingray, Mustang and Camaro gold prospects.
Segue has completed a review of previous bedrock drilling and oriented diamond drill-core to better understand the local to district-scale structural controls on gold mineralisation along the Harris Lake Shear Zone. Limited exploration has been conducted along the southern extend of the shear zone, as it is overlain by the post-mineralisation Paterson Formation (up to 30m thick).
In late 2016, Segue completed an aircore drilling programme (57 holes for 3,147m) to test an area of structural complexity along the southern extent of the Harris Lake Shear Zone. Drilling has confirmed the extensions of both the Stingray and Corvette trends within the shear zone, with 10 drill holes returning anomalous gold assays (+10ppb Au).
Segue has recently acquired a detailed aeromagnetic survey (20m line spacing) over the entire Plumridge Gold Project area. This survey is currently being integrated with existing geological, geochemical and geophysical datasets and will be used to define target areas for follow up drilling.
Deralinya Nickel Project
Segue has a 70% interest in three exploration licences in the southern extent of the Albany-Fraser Belt totalling 425km2, which form the Deralinya Nickel Project. The Project covers 40 strike kilometres of a complex structural zone interpreted to bridge both Proterozoic and Archean rocks in a major crustal suture zone.
Work completed to date has defined a number of coincident magnetic and gravity anomalies believed to be mafic-ultramafic intrusions.