Annual report for EL 10004 Coronet Hill for the period 18 August 2008 to 17 August 2009

Abstract

The historic mining centre of Coronet Hill is located 220km south-east of Darwin in the Northern Territory of Australia. The Tenement securing the project area is on a major, mineralised structure known as the Coronet Fault that trends northwest-southeast. Historical mine workings along the Coronet Fault and adjacent points were mined intermittently for silver, copper and tin between 1888 and 1918. Alluvial tin was also produced elsewhere from workings at the Mary River Camp and the Ross mine. During the reporting period seven grab samples in total were taken. These samples were analysed in the field using a Niton portable XRF (XL3t) analyser. Four of these samples were selected for full suite of assays and petrological analysis, results are pending. A compilation of available digital data was completed in order to determine any further targets worthy of investigation. Segue Resources Ltd. is currently re-evaluating the Coronet Hill tenement using data gathered from the geochemical sampling. A detailed geological mapping exercise is required to determine the presence of low arsenic horizons or zones within mineralised areas.