Detailed gravity survey identifies multiple nickel sulphide targets at Plumridge nickel project

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Image credit: www.segueresources.com

Segue Resources announced that MMG Exploration, a wholly owned subsidiary of MMG Limited, has completed Stage 2 detailed gravity survey at the Plumridge Nickel Project in the Fraser Range Province of Western Australia.

Image credit: www.segueresources.com
Image credit: www.segueresources.com

MMG has undertaken a 400m x 200m gravity survey to infill the broader gravity survey completed by Segue in 2015.

According to the company’s ASX announcement, 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.

“MMG has combined the newly acquired gravity data with existing datasets, including regional magnetic, drilling and geochemistry to identify potential nickel-copper sulphide bearing mafic-ultramafic intrusions,” reads the announcement.

“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, described the work undertaken by MME as “one of the largest and most detailed surveys in the Fraser Range”, which also identified numerous target areas for an immediate ground survey.

“The quality and sped of MMG’s exploration activities highlights the benefits to Segue and its shareholders of entering into the Plumridge Nickel JV,” Mr Michael concluded.

Segue entered into the Plumridge Nickel Joint Venture (Plumridge JV) with MMG in 2015. Under the terms of the JV, MMG is earning an initial 51% interest in eight exploration licenses at the Plumridge Nickel Project by investing $6.5 million in exploration activity by December 2019. MMG can increase its interest to 70% by investing an additional $7.5 million within two years of completing Stage 1.