Sego Exploration Target Review of South Gold Zone "At and Near Surface" Potential Tonnage & Grade
Sego Exploration Target Review of South Gold
Zone "At and Near Surface" Potential Tonnage
& Grade
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Sego Resources Inc. (TSXV:
SGZ) ("Sego" or "the Company") is pleased to announce that it has received from SRK Consulting
(Canada) Inc. ("SRK"), an Exploration Target Review on the South Gold Zone at its Miner Mountain
Project including recommended additional infill drilling.
Figure 1: 3-D View of the Litho-structural and Mineralization Models of the South Gold Zone
Source: SRK, 2024
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/224384_e752294db493a92b_002full.jpg
DISCLOSURE WARNINGS IN RESPECT TO AN EXPL0RATION TARGET REVIEW
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An exploration target is not a NI 43-101 compliant resource or reserve.
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The South Gold Zone is confirmed only as a target for further exploration.
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Potential quantity and grades are conceptual in nature only.
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There has not been sufficient exploration to define any mineral resource.
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There is no certainty that further exploration will result in the target being delineated as a Mineral
Resource.
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The assessment of the target for further exploration was completed by SRK Consulting ("SRK"), a
consultant independent of the Company. The estimation of the potential quantity and grade of the
exploration target was based on a drillhole database of 22 diamond core holes and 1,545 gold assay
data. With the available drilling information, SRK developed conceptual gold mineralization volumes,
constrained by interpreted lithological and structural models.
The original core samples were
composited, and the composited gold assays were capped after evaluating the statistical
distributions on probability plots. The gold values were interpolated into a three-dimensional block
model using Inverse Distance to a power of three. To estimate a tonnage, an average specific gravity
of 2.7 was considered.
HIGHLIGHTS
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An estimated total of 5,000,000 to 8,000,000 tonnes of mineralization of between 0.5 to 0.7 grams
per tonne of gold in the South Gold Zone.
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The South Gold Zone may contain 100,000 to 150,000 ounces of gold.
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The SRK Study also proposed drill hole locations to firstly provide infill drilling, secondly test
structural features and thirdly potentially increase the size of the exploration target.
This study is an integrated litho-structural model of the South Gold Zone, which covers the conceptual
target and a second conceptual target to the immediate north, with the aim of facilitating future targeting
and drill hole planning.
Figure 2: 3D and Sectional (Inset) Views of the South Gold Zone Block Model
Source: SRK, 2024
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/224384_e752294db493a92b_003full.jpg
NEXT STEPS
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Complete the SRK recommended drilling.
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Further drilling to test a copper-gold porphyry spatially related target immediately north of the South
Gold Zone.
Qualified Person
The technical information in this news release, including the information that relates to geology, drilling
and gold mineralization was prepared under the supervision of, or was reviewed by Souvik Banerjee,
P.Geo, an independent Qualified Person as this term is defined in National Instrument 43-101.
OTHER MATTERS
The Board of Directors has granted directors, officers and consultants of the Company, 6,775,000 stock
options exercisable at $0.08 until July 25, 2029.
The options are subject to TSX Venture Exchange
approval.
The options will vest 25% on grant and 25% every 6 months thereafter.
ABOUT THE MINER MOUNTAIN PROJECT
Sego owns 100% of the Miner Mountain Project, an alkalic copper-gold porphyry exploration project
located near Princeton, British Columbia. The property is 2,056 hectares in size and is 15 kilometres
north of the Copper Mountain Mine operated by Hudbay Minerals Inc. 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:
J. 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 are 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 actual results or developments may differ
materially from those projected in the forward-looking statements.
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