Vancouver, British Columbia--(Newsfile Corp. - February 9, 2018) - Sego Resources (TSXV: SGZ) is mobilizing a crew in preparation for the 2018 diamond drill program at its Miner Mountain Copper-Gold Porphyry Project in British Columbia. The 2,056 hectare project is located near mining friendly Princeton, British Columbia, just 15 kilometres north of the Copper Mountain Mine, operated by the Copper Mountain Mining company. The claims cover an extensive, well-altered porphyry system containing excellent copper-gold grades, located along the same regional fault as the Copper Mountain mine.
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In January, the company reported results from 2 holes drilled in 2017. Hole 17-29 returned 21 metres of 1.17% copper, 0.30 grams per tonne gold and 4 grams per tonne silver between 14 metres and 35 metres in depth. Hole 17-30 returned 105 metres of 0.31% copper, 0.08 grams per tonne gold and 2.29 grams per tonne silver between 167 metres and 185 metres in depth.
J. Paul Stevenson, CEO, stated: "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."
This new phase of drilling will be to extend the drilling on section with diamond drill holes 29 and 30, with the goal of developing a resource along the south flank of the Cuba Zone, a large IP anomaly with a surface expression of 1,000 metres by 200 metres. In addition to the Cuba Zone, there are also numerous other IP and Mag targets on the Miner Mountain Project.
Upon reviewing available survey results, former Teck Resources Ltd. Chief Geophysicist Jules Lajoie, Ph.D., P.Eng., FEC, concluded: "The map displays numerous magnetic anomalies, highs and lows, and along with strong evidence of structural disturbance (faulting), it shows a setting permissive for multiple intrusions and clustering of alkalic Cu-Au deposits."
Sego has a 5 year area-based permit to drill and explore the Miner Mountain Project, where the ease of access and limited snowfall has made year-round drilling viable.
J Paul Stevenson, a Metis Elder, has successfully moved a similar copper/gold porphyry property from the exploration stage to the filing of a preliminary economic assessment. The company has an excellent working relationship with the local community and First Nations and has a Memorandum of Understanding with the Upper Similkameen Indian Band, on whose Tradition Territory the Miner Mountain Project is situated.
The company announced a non-brokered private placement to raise up to $300,000 from the issuance of up to 6 million units priced at $0.05 per unit, with each unit consisting of 1 share and 1 warrant, with the warrant exercisable at $0.15 for 24 months.
In addition to accredited investors, the offering is open to current shareholders. The company is also relying on other Securities Commission exemptions allowing non-accredited investors to purchase the private placement provided they have obtained advice from a registered investment dealer.
The shares are trading at $0.055.
For more information, please visit www.SegoResources.com, contact J Paul Stevenson, CEO, at 604-682-2933 or toll free at 1-866-683-2933 or email [email protected].
Investor relations is handled by MarketSmart Communications at 1-877-261-4466 or [email protected].
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