Sego Resources drills 11.2 metres of 0.60% Copper with 0.12 grams/tonne Gold, including 4.4 metres of 1.2% Copper with 0.24 grams/tonne Gold at Miner Mountain
Sego Resources Inc. (“Sego” or “the Company”) (TSX-V: SGZ)
Vancouver, British Columbia, February 28, 2019 – Sego Resources Inc. (“Sego” or the “Company”) is pleased to announce assay results from its Phase 2 2018 drilling 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, up to 1.63% copper, 0.24 grams/tonne gold. Please see news release February 4, 2019
DDH-37 was collared to the southwest of the Cuba Zone to test a ~200 meter interval between holes DDH-33 and DDH-34. Relatively weakly altered red-maroon volcaniclastics and minor sediments were intersected at the top of the hole and were intercalated with green volcaniclastics and massive andesites to 212 meters depth. At this point the drill hole penetrated a narrow fault and entered a strong variable pervasive, patchy to brecciated k-feldspar-chlorite-calcite alteration of andesitic volcaniclastic and associated disseminated pyrite and chalcopyrite and local fillings of magnetite-chalcopyrite-pyrite to the end of the hole at 233 meters.
This interval grades range from 0.30 to 1.73 % Cu and averages 0.60% copper, 0.12 grams/tonne gold, 1.23 grams/tonne silver over 11.2 meters. Diamond drill hole 37 bottomed in 0.26% copper. The end of DDH-37 appears to have intersected the southwest margin of the Cuba Zone.
Petrographic examination of several samples from this interval will aid future trench and deep drilling in this portion of the Cuba Zone. Diamond drill holes 38 and 39 were drilled to the south to check the western edge of the Shisler IP target but did not pierce the overlying maroon volcanics. Diamond Drill Hole 40 drilled near the eastern end of the Cuba zone encountered anomalous copper (.1% copper-.24% copper) over 27 metres. 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 and the petrographic studies underway are being utilized to determine future targets property-wide and targeting the best mineralized area of the Cuba Zone. 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.
J Paul Stevenson, CEO, stated: “The fire assays from drill hole 37 are very exciting, particularly when viewed with prior drilling. The petrographic studies underway should clarify where we are in the Cuba Zone system and give valuable information from the new zone discovered by trenching. 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.
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.
J. 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.