VANCOUVER, Oct. 11, 2013 /CNW/ - Sego Resources Inc. (the "Company")
(TSXV: SGZ) is pleased to announce that the Company has completed 1784
metres of percussion drilling in 34 short holes on the Miner Mountain
Project near Princeton, BC. All drill cuttings were analyzed by a
Niton XL2 Goldd portable X-ray fluorescence analyzer for copper grade
and selected mineralized cuttings were sent to Acme Labs for analysis.
The focus of the program was to (1) test new zones identified by a
recent airborne survey and subsequent data re-analysis of the Titan 24
Survey data (See News Release dated June 28, 2013) and (2) to extend
known mineralization in the Cuba Zone. Priority was given to targets
with coincidental magnetic, IP chargeability, and soil geochemical
anomalies. The following drill highlights suggest extensions of the
Cuba Zone, the presence of porphyry alteration and mineralization in
the Quintana Zone, porphyry or skarn alteration and mineralization in
the Upper Regal Zone, and indications of a new zone northwest of the
Highlights from the recent drilling of the foregoing mineralized zones
are summarized below:
Upper Regal Zone (from September 8, 2013 News Release)
The most significant results from this zone were encountered in
PDH-13-109 which was drilled on the flank of a large magnetic anomaly.
Results are as follows:
30m of 0.31% Copper and 0.15 g/t Gold from 32m to 62m (end of hole)
Including 10m of 0.55% Copper and 0.36 g/t Gold from 46m to 56m
and 2 m of 1.026% Copper and 0.4 g/t Gold from 48m to 50m
The mineralization consists of bornite and chalcopyrite in potassium
feldspar veins within a large magnetite-rich zone, bounded by a halo of
epidote-magnetite alteration containing lower copper grades. This
alteration halo extends at least 50 metres north and south from PDH 109
and a least 120 metres to the southeast. The main magnetic anomaly
extends 170 metres northwest and will be further tested by subsequent
Drill cuttings sent for analyses include those from holes PDH-13-114,
PDH-13-115, and PDH-13-129.
PD-13-114 was drilled near the western margin of the Cuba Zone IP
anomaly 175 metres from the main area of previous exploration and
encountered elevated copper and gold values within a zone of strong
albite-chlorite-pyrite alteration which persisted to the end of the
hole. Results are as follows:
6m of 0.13% Cu and 0.074 g/t Au from 38-44m and
6m of 0.074% Cu and 0.12 g/t Au from 72-78m.
PDH-13-115 drilled upslope and east of PDH 114 but within the same IP
anomaly encountered similar alteration and mineralization. Results are
40-42m of 0.169% Cu with 0.261 g/t Au.
PDH-13-129 was drilled 100m to the south of the main IP anomaly to test
for mineralization under basaltic cap rock. The hole passed through the
cap rock at 40m, and into a chlorite-epidote-magnetite altered rock,
and bottomed in pervasive albite-potassium feldspar alteration.
Mineralization included chalcopyrite and magnetite. Results are as
36m of 0.1% Cu with 0.25 g/t Au from 42m-76m,
including 6m of 0.21% Cu and 0.40 g/t Au between 50 and 56 m.
A New Zone?
PDH-13-136 may be indicative of a new zone of mineralization and further
exploration is planned to develop this target.
PDH-13-136 drilled 300m to the northwest of the main IP anomaly, was
mineralized from top to bottom. However, in contrast to the previous
holes this hole encountered primarily oxide mineralization hosted by
oxide coated chlorite-epidote altered rock. The style of alteration and
mineralization encountered plus the geophysical signature in the area
of this hole could be indicative of a new zone of mineralization
developing northwest of the Cuba Zone. Results are as follows:
56m of 0.23% Cu and 0.095 g/t Au from 0-56m (complete drill hole)
including 42m of 0.26% and 0.11 g/t Au from 14-56m
including from 16-24m 0.29% Cu and 0.19 g/t Au.
The Quintana Zone, 500m northeast of the Cuba Zone, is a large zone
within which previous trenching encountered leached cap material
featuring abundant malachite, a secondary copper mineral. Previous
geophysical work outlined a large IP anomaly within a magnetic low and
bound by distinct lineaments to the east and west. The zone was tested
by 11 percussion holes which encountered intense
albite-quartz-chlorite-clay-pyrite alteration plus amythest,
chlorite-epidote-albite altered rock and, at the end of one hole (PDH
118), pervasive potassic alteration.
Drill cuttings from holes PDH 121 and PDH 124 were submitted for
PDH 121 was drilled in the eastern part of the geophysical anomaly and
intercepted a large zone of albite-chlorite-clay-quartz-pyrite
alteration, within chlorite-epdiote-albite altered rock, and contains
elevated copper and gold values. Results are as follows:
76-78m 0.233% Cu and 0.206 g/t Au.
PDH 124, drilled 32m east of PDH 121, intersected a similar alteration
suite. Results are as follows:
6m of 0.11% Cu with 0.04 g/tAu from 44-50m.
A drill hole location map and a 3D video which provides an overview of
results to date can be found on our website www.segoresources.com
The Company's sole project is the Miner Mountain Project a Copper Gold
Porphyry Project near Princeton, BC, 15 kilometres north of Copper
Mountain Mining Corporation's - Mitsubishi's Copper Mountain Mine. The
Miner Mountain Project is situated within the Traditional Territory of
the Upper Similkameen Indian Band with whom Sego has an MOU. The Miner
Mountain property is 2,056.54 hectares in size.
This News Release was reviewed and approved by V.A. Preto Ph.D., P. Eng.
a Qualified Person under NI 43-101.
Please visit our website www.segoresources.com for more information including a map of the most recent percussion
Sego Resources Inc.
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 that
actual results or developments may differ materially from those
projected in the forward-looking statements.
SOURCE: Sego Resources Inc.
For further information:
J. Paul Stevenson, CEO (604) 682-2933