November 7, 2018
Sego Resources Plans Immediate Phase II Drilling to Expand Its Known Mineralized Zones
Sego Resources Inc. (“Sego” or “the Company”) (TSX-V: SGZ)
Vancouver, British Columbia, November 7, 2018 – Sego Resources Inc. (“Sego” or the “Company”) is very pleased to announce that an additional 2018 diamond drilling programme will resume on November 10, 2018 at its 100% owned Miner Mountain Copper-Gold Porphyry Project, near Princeton, British Columbia, Canada. Sego expects to drill approximately 1,000 metres in this Phase II-2018 drilling.
The start of the Phase II drilling in 2018 was somewhat delayed because Sego’s new Phase II-2018 targets were determined more precisely as a result of new geological mapping and interpretations. The Company recognized that the geology encountered in the Phase I-2018 drilling programme necessitated more detailed interpretation and reassessment of rock types than were identified on the widely-accepted published general geological maps of the area.
As a result of scientific knowledge gained from the earlier Phase I-2018 drilling programme, Sego commenced a detailed revised mapping programme to understand the opportunities of the Miner Mountain system within the Nicola volcanic environment. This detailed mapping programme consisted of new mapping by Ron Britten PhD, P.Eng., who collected over 150 rock samples, which he slabbed and personally examined in the field.
In addition to the field work, eleven (11) samples were further examined utilizing a potassium feldspar staining method and a microscopic thin section study, which revealed local strong albite and potassium feldspar pervasive alteration, microdiorite intrusive rock, and quartz feldspar porphyry intrusive rock on the property. The recognized albite-chalcopyrite-bornite and potassium feldspar-chalcopyrite-bornite samples were taken from diamond hole 34 at 234.8 and 285.6 metres depth, respectively, which was drilled during the Phase I-2018 programme. This new mapping and laboratory work shows that the Cuba Zone mineralization previously encountered at Miner Mountain may be interpreted as an apophysis of a larger alkalic porphyry system.
The results from these studies identified both (a) a microdiorite intrusive rock, and (b) a quartz feldspar porphyry intrusive, in the area of our planned Phase II-2018 drilling programme.
The mineralization in the Cuba Zone extends southeast towards the new Phase II-2018 target area. The Phase II-2018 target encloses the shoulder of a broad chargeability high and porphyritic intrusions on the edges of that target area. The extrapolation of structures from the Phase I-2018 programme to the Phase II-2018 target area, along with the indications of intrusions could be interpreted to be the peripheral signature of a porphyry system that is covered by overburden.
Sego will be drilling into the Phase II-2018 target area and explore the Induced Polarization high chargeability zone, which is approximately 750 metres by 300 metres in area.
J. Paul Stevenson, CEO of Sego, noted that: “The new identification of a quartz feldspar porphyry intrusive on the edge of a known IP chargeability high that is co-incident with a magnetic low, is very exciting to Sego. In particular, Sego sees new exciting progress when we extrapolate the structures and mineralization found in our Phase I-2018 drilling program and all of the accumulated successful work done by Sego in previous years.”
A copy of the thin section photos and explanation can be found on the Sego Resources website: www.segoresources.com
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.