Vancouver, British Columbia--(Newsfile Corp. - January 3, 2018) - Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce that drilling at the Company's 100% owned Miner Mountain Copper-Gold Porphyry Project ("Miner Mountain") has intersected further copper and gold mineralization at depth. A total 600 metres of diamond drilling was recently completed at the Cuba Zone of Miner Mountain, located near Princeton, BC, Canada.
Company CEO J.Paul Stevenson commented, "Sego's recent drilling at the Cuba Zone of Miner Mountain has returned copper, gold & silver grades that indicate the continuation of mineralization in this project area. We are excited by the new drill results because they show strong copper and gold mineralization was intersected in multiple zones at depth. The results also indicate a new area of alteration, including potassic alteration, which we will explore further in 2018."
Cuba Zone Drilling
Assay results from two new diamond drill holes from Miner Mountain's developing Cuba Zone have returned copper and gold grades comparable to grades encountered in prior drill testing.
The first diamond drill hole logged as DD Hole 17-29 (Azimuth 333, Dip -45, UTM 5484281N, 683909E) successfully intersected:
21 metres of 1.17% Copper, 0.30 g/t Gold and 4 g/t Silver from 14 metres depth to 35 metres depth, and
21 metres of 0.16% Copper, 0.51 g/t Gold and 1.71 g/t Silver from 77 metres depth to 98 metres depth.
DD Hole 17-29 was specifically drilled to establish width with respect to the prior successful vertical Diamond Drill Hole 21-12 which intersected 100.4 metres of 0.95% Copper, 0.55 g/t Gold and 3.48 g/t Silver (see Sego news release of March 12, 2012), and to explore to the northwest.
The second diamond drill hole logged as DD Hole 17-30 (Azimuth 180, Dip -65, UTM 5484309N, 683996E) successfully intersected:
18 metres of 0.29% Copper, 0.36 g/t Gold, 3.0 g/t Silver from 113 metres depth to 131 metres depth, and
105 metres of 0.31% Copper, 0.08 g/t Gold and 2.29 g/t Silver from 164 metres depth to 269 metres depth, including:
18 metres of 0.50% Copper, 0.28 g/t Gold, 3.17 g/t Silver from 167 metres to 185 metres, and
21 metres of 0.6% Copper, 0.03 g/t Gold, 1.6 g/t Silver from 248 metres to 269 metres.
DD Hole 17-30 was positioned 150 metres to the east of DDH-17-29, and targeted to the south of previous drilling in order to test for copper-gold porphyry mineralization in this new area.
Sego Resources is planning further extensive drilling to commence in Q1 2018. Future drilling is planned to locate the primary copper-gold-mineralizing heat source, and to prove consistent copper-gold grades for a resource calculation, particularly in the new area near DDH 17-30 located to the south of previous drilling. The Company's aim is to outline a bulk tonnage copper-gold porphyry deposit at Miner Mountain to maximize shareholder value.
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 located 15 kilometres north of the Copper Mountain Mine operated by Copper Mountain Mining Corporation and Mitsubishi Materials Corporation. Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band, on whose Traditional Territory the Miner Mountain Project is situated.
By order of the Board:
"J. Paul Stevenson"
J. Paul Stevenson
Chief Executive Officer
For investor & shareholder information, please contact:
MarketSmart Communications Inc.
Ph: +1 (604) 261-4466
For corporate inquiries, please contact:
J. Paul Stevenson, CEO
Ph: +1 (604) 682-2933
Toll free: 1-866-683-2933
Email: [email protected]
Please visit Sego Resources' new corporate website at www.segoresources.com .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No regulatory authority has approved or disapproved the information contained in this news release.
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.