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Segue Resources wraps up share purchase plan for gold and lithium

Published: 20:31 31 Jul 2017 EDT

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Segue is focused on exploration in Western Australia

Segue Resources Ltd (ASX:SEG) has completed its share purchase plan and has issued an additional circa 4.6 million shares pocketing $138,500, with the directors reserving the right to place the shortfall.

The funds will be added to Segue's additional cash to continue its drill programs at the Barlee Gold Project in the Eastern Goldfields and the company’s Gascoyne Lithium Project in the Gascoyne Region of Western Australia.

The focus at Gascoyne is the Reid Well Prospect where rock chips yielded up to 3.77% lithium and 669ppm tantalum.

Adding to the potential, several rock chips returned over 1% lithium, and in addition over half of the rock chips returned values greater than 100ppm tantalum.

Fraser Range Province exposure

Segue also has extensive exposure in the Fraser Range Province of Western Australia.

The Plumridge Nickel Project comprises ~2,500 square kilometres of exploration licences, located 200 kilometres north of the Nova nickel-copper mine.

Segue owns a 100% interest in the project, with MMG Exploration Pty Ltd, a wholly-owned subsidiary of international base metals company MMG Limited (HKEx:1208, ASX:MMG), earning a 51% interest in the Project by funding $6.5 million of exploration.

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