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Segue Resources Ltd.
Summary
| Project: | Plumridge | |
|---|---|---|
| Deposit: | Harris Lake Share Zone | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-9-2016: Segue Resources Ltd. announces an Exploration/Drilling Update report for its Harris Lake Share Zone deposit at the Plumridge project. Drilling results incl. 3m @ 116ppb Au from 45m. Segue Resources Limited (Segue or the Company) is pleased to an | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Langworthy (Internal) | |
| ABSTRACT: | Segue Resources Limited (Segue or the Company) is pleased to announce it has intersected several zones of anomalous gold from the recent aircore drilling at the southern portion of the Plumridge Gold Project. The aircore drill programme (57 holes for 3,147m) tested an area of structural complexity along the southern extent of the Harris Lake Shear Zone which is overlain by the post-mineralisation Paterson Formation (Figure 1). Ten drill holes returned anomalous gold assays (+10ppb Au) across adjacent holes and traverses with the best result, from hole PLSAC008, intersecting 116ppb Au, which is in the 99th percentile of all gold intersected in over 90,000m of historical aircore drilling at the Plumridge Gold Project. Two discrete priority targets have been identified with anomalous gold in adjacent holes, coincident with the Corvette and Stingray Trends and magnetic anomalies (Figure 2). Drilling intersected 14 - 71m of cover which consisted of Quaternary sands, Tertiary sediments and the Permian-aged Paterson Formation. The thick cover sequence, which contains iron cemented sands and black shales (shown in Figures 4 - 6), has limited the supergene dispersion of gold. As a result, historic auger sampling was ineffective in adequately testing this area. Segue’s aircore drilling results have confirmed the extensions of both the Stingray and Corvette trends within the Harris Lake Shear zone. | |
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