Sego Resources Inc. [TSX-V-SGZ] (“Sego” or “the Company”) is pleased to announce the start of a drill program in the Southern Gold Zone of the Miner Mountain Porphyry Copper-Gold project near Princeton, BC. The Southern Gold Zone is an intrusion disseminated hosted gold zone discovered during the Company’s 2020 field program (See NR July 7, 2020).
Sampling Highlights of Previous Trenching in the Southern Gold Zone
- 62 meters (m) grading 0.65 grams per tonne (g/t) gold from 60.5m in trench MM20TR105, including:
- 30m grading 1.02 g/t gold from 84.5m, and
- 2m grading 8.76 g/t gold from 112.5m
- 40m grading 0.31 g/t gold from 31.6m in trench MM20TR109. The interval includes 8.7m of unsampled overburden that was assigned a grade of 0 g/t for compositing. The interval is open to the south.
Maps are available in news release at www.segoresources.com
CEO J. Paul Stevenson comments, “The Southern Gold Zone expansion is an exciting development at Miner Mountain where mechanical trenching has defined an at least 150 x 200m zone of mineralization that has been extended to the Northwest and confirmed in chip sampling of surrounding outcrops. A diamond drill program is now confirmed to explore this new promising zone on the Miner Mountain Project.”
The drill program will commence with holes A and B as shown in the figures. Depending on drill results holes C and D will be collared ~75m either side and sub-parallel to holes A and B to cross the entire Southern Gold Zone.
Southern Gold Zone details
Southern Gold Zone is a significant geochemical anomaly identified in soil sampling and historical trench results that indicated potential for a broader zone of gold and perhaps copper mineralization at depth. The zone is almost entirely covered by a thin veneer of till cover.
Gold mineralization is associated with a broad band of pervasive chlorite-calcite-sericite assemblages, lesser potassium feldspar, epidote and albite alteration with finely disseminated pyrite and traces of chalcopyrite with rare oxidized intervals. The mineralization is mainly hosted in fine-grained diorite and andesitic volcaniclastic rocks in fault contact with sediments to the south. This fault truncates mineralization to the southeast. The Southern Gold Zone primarily hosted in diorite is located on the margin of a magnetic high anomaly that extends ~ 250m southeast beneath the sediments to the south.
The Miner Mountain Project combines alkalic porphyry copper-gold mineralization in the Cuba and other zones and the unusual gold mineralization in the Southern Gold Zone. The Cuba Zone mineralization and alteration suggests a shallow expression of an alkalic porphyry copper-gold deposit and requires additional deep drilling. The Southern Gold Zone contains elevated Au but low Cu values which may represent the outer and shallower mineralized portion of a deeper porphyry copper-gold target that is not exposed.
This news release was reviewed and approved by Ron Britten, Ph.D., P.Eng., a Qualified Person under NI 43-101.
About the Project
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 further information please contact:
Paul Stevenson, CEO (604) 682-2933
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.