Segue Resources Ltd (ASX code: SEG) is a minerals exploration and development company focused on exploiting the iron ore potential at its 100% owned Pardoo Project in the world-class Pilbara iron ore province of Western Australia.
The Pardoo Project is highly prospective for both buried magnetite and nickel sulphide mineralisation. The resource model at the Highway deposit was updated during early 2010. The new estimated total Inferred Mineral Resource at Highway is 50.0 million tonnes, grading 0.30% nickel, 0.13% copper and 0.03% C (at a 0.1% Ni cut off grade) based on the guidelines of the 2004 JORC Code.
Segue intends funding new exploration of the nickel and non iron ore potential at the Pardoo Project through the IPO of its subsidiary Red October Resources Limited. Red October will, subject to the IPO, farm in to the nickel and non iron ore rights to the project.