Sego Resources Updates the Miner Mountain Project - a New Drill Target Below the Cuba Zone & New Exploration Target North of Southern Gold Zone, Drill Campaign Planned
Sego Resources Updates the Miner Mountain
Project - a New Drill Target Below the Cuba
Zone & New Exploration Target North of
Southern Gold Zone, Drill Campaign Planned
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2023) -
Sego Resources Inc., Ticker
Symbol (TSXV: SGZ), ("Sego" or "the Company") is delighted to report that, after a full exploration data
review, alkalic porphyry copper-gold (Cu-Au) mineralization has been recognized beneath the off-setting
flat fault in the Cuba Zone at the Miner Mountain Property near Princeton, BC. Diamond Drill Hole 37
(DDH37) penetrated a shallow-dipping fault and intersected 11 m (metres) of 0.6% copper and 0.13 gpt
(grams per tonne) gold at the bottom of the hole (see News Release February 28, 2019). Within this
interval a 2 m sample was recently analyzed and returned 0.13 gpt palladium in addition to the previously
reported copper and gold.
The review also indicated that the geological setting of the Southern Gold Zone is very similar to the
geological setting of the recently recognized gold zone at New Gold's New Afton Mine. At New Afton the
gold zone is distal and lateral to the main copper-gold mineralization and a similar setting has been
proposed for the Southern Gold Zone. Drilling is planned to test associated deep alkalic porphyry
copper-gold mineralization to the north.
Figures and maps can be seen at
www.segoresources.com
.
HIGHLIGHTS OF CUBA ZONE DATA REVIEW
A new deep drill target within the large IP Chargeability High below the Cuba Zone under
previously intersected, shallow, Cu-Au mineralization from 0 to 150 m in the same zone; this new
target (Figure 1) is below this shallow mineralization which represents the upper levels of deeper
porphyry Cu-Au mineralization
The new drill target is also beneath the shallow-dipping fault which offsets the near surface
mineralization in the Cuba Zone
Palladium, commonly found in alkalic porphyries, was analyzed and confirmed in the Cu-Au
mineralized zone at the bottom of
DDH37
Sego plans to test below the Cuba Zone as shown in Figure 1. The exploration data review highlighted a
significant intersection of 11 m of 0.6% copper with 0.12 gpt gold, that includes 4.4 m of 1.2% copper
and 0.24 gpt gold (see News Release February 28, 2019) at the bottom of DDH 37 located below the
shallow-dipping fault. Disseminated chalcopyrite mineralization occurs in strongly altered fine-grained
intrusion or volcanic host. During the data review the same interval was analysed for platinum group
metals and a 2 m sample carried 0.13 gpt palladium.
Figure 1. Long section looking northeast, showing the proposed deep drill holes below the
Cuba Zone porphyry Cu-Au mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/185099_6edf99bad42e48f6_002full.jpg
NEW EXPLORATION TARGET SOUTH ZONE:
Recent studies have shown that lateral and higher gold zones can be found above deeper porphyry
copper-gold mineralization, as seen in the New Afton deposit (Figure 2) and their position could be
similar in the Southern Gold Zone. Based on geology, soil, and chargeability anomalies, as well as
sporadic copper mineralization known to the northeast of the Southern Gold Zone, Sego Resources
plans to drill for potential porphyry copper-gold mineralization north of the Southern Gold Zone
anticipated to occur ~400 to 600 m deep (Figure 3).
PLANNED DRILL CAMPAIGN/WEBSITE UPDATE:
A deep drill program is planned to test these two targets.
The locations of the drill holes and targets are
illustrated on Figure 4. The Company plans to finance and to complete this diamond drill program in late
fall-early winter.
Additionally the Sego Resources website,
www.segoresources
.com
has been updated with new
sections and maps, used for the exploration data review and modelling.
Figure 2. New Afton - porphyry Cu-Au and gold zone analogue for the Southern Gold Zone and
the deep drill test porphyry Cu-Au mineralization (trace of yellow drill hole).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/185099_6edf99bad42e48f6_003full.jpg
Figure 3. A section looking east that locates a proposed hole to drill north to explore for deep
porphyry Cu-Au mineralization north from the Southern Gold Zone and a second hole to drill
south to extend the north dipping Southern Gold Zone and check for porphyry Cu-Au
mineralization in that area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/185099_6edf99bad42e48f6_004full.jpg
Figure 4. Overview of existing Cu-Au mineralization, previous drill holes, new targets and
proposed drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/185099_6edf99bad42e48f6_005full.jpg
Qualified Person
The technical information in this news release was reviewed and approved by Ron Britten, Ph.D.,
P.Eng., who is a Qualified Person under the definitions established by NI 43-101.
About the Project
Sego is 100% owner of the Miner Mountain project, an alkalic porphyry copper-gold 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 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
Or toll free 1-866-683-2933
www.segoresources.com
Forward-Looking Statements
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 those actual results or
developments may differ materially from those projected in the forward-looking statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/185099