Vancouver, British Columbia - January 3, 2019 (Newsfile Corp.) (Investorideas.com Newswire) Sego Resources Inc. (TSXV: SGZ) ("Sego" or the "Company") is pleased to announce exploration results from its Phase-2 2018 diamond drilling and trenching programme completed in December, 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 (See Attached Map).
In the Phase-2 2018 Programme, Sego drilled 1100 metres with 5 drill holes. Split core samples have been sent to the laboratory, MS Analytical, in Langley, BC. The Company expects to have assays available in early 2019. Drilling was designed to extend and define the Cuba Zone.
In addition, Sego excavated 100 meters of trenching during the programme, and exposed a new important zone approximately 500 metres west of the Cuba Zone. This zone was originally defined on combined soil and geophysical anomalies. Trenches uncovered roughly 100 metres of extensive alteration and copper mineralization, including malachite, azurite, and chalcopyrite. A percussion drill hole located southwest of the new zone had previously assayed 0.2% copper and 0.1 grams/tonne gold over hole length of 56 metres. Trench samples from this zone are at MS Analytical in Langley, BC, and results are pending.
The programme was developed as the beginning of a much larger scale exploration programme designed to expand and enhance mineralization at Sego's Miner Mountain Project. A mapping study by Ron Britten, PhD., P.Eng., has indicated that the target areas are a confluence of multiple overlapping features consistent with copper-gold alkaline porphyry in British Columbia.
The results of the Phase-2 2018 drilling programme will be used to target the next round of exploration expected to start in early 2019. The Company's geologists are currently studying the entire Cuba Zone and the new discovery zone in detail.
J Paul Stevenson, CEO, stated: "The drilling in Phase-2 2018 Programme, combined with previous exploration data and drilling, to date, has unquestionably revealed the existence of a new zone on the west side of the property and has greatly expanded the Cuba Zone. Utilizing the data and exploration from the 2018 programme, Sego is planning to explore more of our targets in the next year."
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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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 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.
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