Vancouver, British Columbia--(Newsfile Corp. - November 28, 2019) - Sego Resources Inc. (TSXV: SGZ) is pleased to announce another drill target has been identified at Miner Mountain. A re-evaluation of drill core from the Cuba Zone identifies a high-grade porphyry with local zones of 1-2 percent (%) copper and 0.5 grams per tonne (g/t) gold that has been pervasively overprinted by later grade- destructive alteration. The porphyry is open beneath the level of current drilling and the destructive alteration is expected to be restricted to shallower levels based on similar alteration at alkalic porphyry deposits including New Afton (Tolman and Lipske, 2016) and Cadia East (Wilson, 2003).
This target was generated during a review of the property and its potential, undertaken by the company in conjunction with consultant Dr Alan Wilson, an expert in alkalic porphyry deposits who completed his PhD on the Cadia deposit in Australia and was recently the International Exploration Manager for Antofagasta Minerals.
"Recognising the high-grade porphyry at the Cuba Zone and understanding the reason for the loss of copper and gold mineralisation is a significant breakthrough. Testing deeper beneath this overprint is a compelling target and proceeding to a drill program in the first months of 2020 is a priority for the company," commented Sego CEO J. Paul Stevenson. "Adding a high-grade target at the Cuba Zone to the Empress, South Zone Gold-Copper and Sovereign geochemical and geophysical targets announced in mid-October only adds to the discovery potential at Miner Mountain."
Previously reported grades that show the tenor of the mineralization include:
DDH 12-21: 100 metres grading 0.95% copper and 0.55 g/t gold
DDH 12-26: 12.2 metres grading 1.16% copper and 0.76 g/t gold
PDH 11-94 82 metres grading 1.01% copper and 0.58 g/t gold
Intervals that retain some mineralization as windows within partially to pervasively overprinted include:
DDH 17-30: 105 metres grading 0.31% copper and 0.08 g/t gold
DDH 18-34: 18 metres grading 0.56% copper and 0.06g/t gold
Figure 1: Drillholes at the Cuba Zone shown at a 100 metre depth slice of chargability. Copper plotted downhole (5,000ppm copper equals 0.5% copper).
To view an enhanced version of Figure 1, please visit:
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Figure 2: Long section of drilling at the Cuba Zone. Shallow percussion holes are removed for clarity. Mapped diorite is shown from relogging of four holes and a systematic program of relogging is required across the zone prior to drilling.
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Figure 3: The story in a photo. A sample from 254.4 metres in hole DDH 18-34 showing the later alteration pervasively replacing the earlier copper and magnetite alteration which strips the grade.
To view an enhanced version of Figure 3, please visit:
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References
Wilson, AJ 2003; 'The geology, genesis and exploration context of the Cadia gold-copper porphyry deposits, New South Wales, Australia', PhD thesis, University of Tasmania.
Tolman, J and Lipske, J 2016; 'Geology & Mineralization of the New Afton Porphyry Cu-Au deposit +C-Zone Project Update' Presentation, Newgold website, https://s2.q4cdn.com/351510513/files/doc_downloads/New_afton/NewAfton-C-Zone-Presentation_TGDG-Feb16.pdf
Miner Mountian is a copper-gold porphyry project located near Princeton, in the Quesnel terrane of south-central British Columbia, a productive belt containing the operating Copper Mountain (Copper Mountain/Mitsubishi Materials), New Afton (NewGold) and Highland Valley (Teck Resources) mines.
Qualified Person Statement
This news release was reviewed and approved by Selina Tribe, Ph.D., P.Geo., a Qualified Person under NI 43-101.
About the Company
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.
1-866-683-2933
ceo@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 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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