2.28 % Copper with 0.8 grams/tonne Gold on Sego’s Miner Mountain Project
Sego Resources Inc. (“Sego” or “the Company”) (TSX-V: SGZ)
Vancouver, British Columbia, February 4, 2019 – Sego Resources Inc. (“Sego” or the “Company”) is pleased to announce assay results from its Phase 2 2018 trenching programme completed December 4, 2018 at the Company’s Miner Mountain project. Sego is 100% owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project located near Princeton, British Columbia.
In addition to drilling, Sego excavated 100 meters of trenching during the programme, and exposed a new important zone approximately 500 metres west of the known Cuba Zone. This new zone was originally defined by combined soil and geophysical anomalies. The trenches exposed approximately 40 metres of copper mineralization, including malachite, azurite, and chalcopyrite, with 26 metres of particularly elevated grade.
The elevated grades including the two above-detection level were fire assayed last week and anticipated results have now been received from MSA Labs located in Langley, B.C. The two highest assays were 1.63 % copper, 0.24 grams/tonne gold and 2.28% copper, 0.8 grams/tonne gold. (See Table below and accompanying Map).
The Phase 2 2018 drilling and trenching programme was developed as the beginning of a much larger scale exploration programme designed to expand and enhance mineralization at Sego’s Miner Mountain Project. The results of the recent trenching are being utilized by comparing geochemical and geophysical anomalies and alteration strengths on the newly discovered zone to determine future targets property-wide. As a result of this data, several of Sego’s known targets have been upgraded to a much higher priority.
A mapping study by Ron Britten, PhD., P.Eng., has indicated that all of Sego’s target areas are a confluence of multiple overlapping features consistent with copper-gold alkaline porphyrys in British Columbia.
Diamond drill results on the Phase 2 2018 programme are pending and Sego expects to receive these assays within the next two weeks.
J Paul Stevenson, CEO, stated: “The fire assays from the previously announced elevated rock geochemistry are very exciting. The assays reveal 26 metres of an average grade of 0.7% copper, 0.22 grams/tonne gold, including, 18 metres of 0.96% copper, 0.3 grams/tonne gold. We look forward to the further exploration of this zone and our other targets in the 2019 programme.”
This news release was reviewed and approved by Selina Tribe, Ph.D., P.Geo., a Qualified Person under NI 43-101.
ABOUT SEGO RESOURCES INC.
Sego is 100% owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project near Princeton, British Columbia. The property is 2,056 hectares in size and is located 15 kilometres north of the Copper Mountain Mine operated by Copper Mountain Mining Corporation and Mitsubishi Copper. Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band on whose Traditional Territory the Miner Mountain project is situated. Sego has received an Award of Excellence for its reclamation work at Miner Mountain.
Paul Stevenson, CEO
Sego Resources Inc.
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This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, the statements do not guarantee future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.