September 17, 2018
Sego’s 2018 Phase 1 Drilling Expands Mineralized Footprint at Miner Mountain
Sego Resources Inc. (“Sego” or “the Company”) (TSX-V: SGZ)
Vancouver, British Columbia, September 17, 2018 – Sego Resources Inc. (“Sego” or the “Company”) is pleased to announce diamond drill results from a Phase 1 diamond drilling program completed in the summer of 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.
The purpose of this programme was to determine the continuity, extent, and direction of previously understood mineralized fault systems, which are assumed to run in an east-west direction. An east-west line of diamond drill holes (please see Figure 1) was drilled to determine mineralized fault directions and to locate the south edge of the Cuba Zone IP chargeability anomaly. A hand-held X-Ray Florurescence Gun (“XRF gun”) was used to guide the drilling team. Samples were assayed and double-checked by fire assay at MS Analytical Labs in Langley, BC. The results are shown in Table 1 below. Diamond drill hole coordinates and orientation are also provided in Table 2 and Figures 2 and 3 below.
Summer 2018 drill results showed the presence of copper mineralization continuing all the way to the south edge of the IP chargeability high. Of particular and significant interest is the presence of meaningfully elevated gold values within the IP chargeability zone. Of significance also, the copper and gold mineralization was confirmed to be controlled by numerous geological faults. Of great interest, gold mineralization occurred right near surface, which was positive but also occurred deeper within the chargeability zone in DDH-MM-18-32.
For example, this drill hole, DDH-MM-18-32, revealed from 0 to 26 metres, 0.53 grams per tonne gold and also from 35 to 50 metres revealed 0.45 grams per tonne gold. There were also copper and silver associated with these intervals. In addition, at and below core depth of 107 metres (approximately 60 metres below surface) copper assays yielded 6 metres of 0.40% Copper with gold and silver and also 3 metres of 0.865% copper with gold and silver values (please see Table 1).
DDH-MM-18-34 also showed the extension of the mineralized faults. Pointing to this, at a core depth of 206 m to 263 m, or for 57 metres (approximately 100 to 140 metres below surface), copper grades of 0.26% including 21 metres of 0.38% were discovered along with gold and silver values. Also at a core depth of 278 m to 296 m, or for 18 metres (approximately 150 to 200 metres below surface), copper grades of 0.56% Cu, including 3 metres of 0.77% Cu, were discovered along with gold and silver values (please see Table 1 below).
Table 1. Drill Results of 2018 Phase 1 Drilling Program
|DDH #||From (m)||To (m)||Length (m)||Cu %||Au g/t||Ag g/t|
Table 2. Location of 2018 Phase 1 Drill Holes
|Hole ID||Northing||Easting||Elevation (m)||End of Hole (m)||Dip (degrees)||Azimuth|
Figure 1: Miner Mountain Property Target Map
Prior drilling on the project has provided a number of well-mineralized drill holes in both the Cuba Zone and the Granby Zone. These ranged from vertical holes DDH-21 and DDH-24, grading in DDH-21, 100.39 metres of 0.95% copper from surface, 0.55 grams/tonne gold, and 3.47 grams/tonne silver and also DDH-24 grading 128 metres of 0.34% copper, 0.3 grams/tonne gold and 0.98 grams/tonne silver; and angle holes DDH-4 and DDH-16, grading in DDH-4, 64 metres of 0.46% copper, 0.08 grams/tonne gold, and 3.47 grams/tonne silver and in DDH-16, grading 96.6 metres of .3% coppper, 0.08 grams/tonne gold and 1.76 grams/tonne silver (please See Figures 2 and 3 below).
Figure 2: Granby Zone and Cuba Zone Prior Drilling Including Summer 218 Drilling
Figure 3: Miner Mountain Summer 2018 Phase 1 Drilling
The results of the 2018 Phase 1 drilling program are being utilized to target the next round of drilling expected to start in early October 2018. The Company’s geologists are currently inspecting the entire Cuba Zone in detail, including re-mapping geology and soil anomalies to determine the best drill hole locations for Phase 2 to target.
J Paul Stevenson, CEO, stated: “The drilling in 2018 Phase 1, combined with previous exploration data and drilling to date, has unquestionably shown a very large and extensive mineralized volcanic, volcaniclastic and sedimentary package which is typical of the Nicola Belt copper-gold porphyries where the Minor Mountain Project is situated. The alteration found in the new 2018 drill holes, as well as in the Cuba Zone’s previous drilling, consisting of feldspar, albite, calcite and anhydrite, is typical of that of Nicola Belt copper-gold porphyries in British Columbia. The intensity of the alteration indicates we are within the system but still distal from the all-important mineralizing intrusive, which would be expected to yield much higher grades of copper and gold, and much better economical values. Sego is using an advanced computer model, including a wire frame model, and also conducting a detailed on-the-ground geology study at Miner Mountain, including a comprehensive review of all our core that has been drilled to date, in order to effectively direct the continuing 2018 Phase 2 drilling campaign toward the the source of mineralization.”
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.
For corporate inquiries, please contact:
J. Paul Stevenson, CEO
Ph: +1 (604) 682-2933
Toll free: 1-866-683-2933
Email: [email protected]ources.com
For investor & shareholder information, please contact:
MarketSmart Communications Inc.
Ph: +1 (604) 261-4466
Email: [email protected]
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This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statement of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects re forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of 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 statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.