VANCOUVER, March 12, 2012 /CNW/ - Sego Resources is pleased to announce the results of its January 2012 diamond drilling program at its Miner Mountain Project near Princeton, B.C. Eight HQ holes totalling 1621.97 metres were drilled along the surface trace of an arcuate chargeability high known as the Cuba Zone, which has been the focus of Sego's 2011 exploration program. The hole locations were chosen to twin reported percussion drill holes to confirm the grade of, and test for extensions of copper-gold mineralization reported from the 2011 percussion drilling program (See NR . Jan 23rd 2012, Nov 28th 2011, and April 5th 2011).
The drilling consisted of 6 vertical holes (DDH 21-26) and 2 (DDH 27 -28) angled holes collared at 120° to test for extensions of mineralization between the vertical holes. To view a map of the drill holes please visit our website.
The results from west to east:
|DDH 21 from 10.06m to 110.45m, 100.39m of 0.946% Cu 0.55 g/t Au 3.473 g/t Ag|
|Including from 10.06 to 45.11m, 35.05m of 2.457% Cu 1.35 g/t Au 8.896 g/t Ag|
|(Twin of PDH 9 from 12 to 64 m, 1.264% Cu 1.061 G/T Au , 3.79 G/T Ag.)|
|DDH 23 from 43.5m to 74.98m, 31.48m 0.172% Cu 0.228 g/t Au 0.619 g/t Ag|
|Including from 62.79m to 74.98m, 12.19m of 0.3 % Cu 0.469 g/t Au 0.951 g/t Ag|
|(Twin of PDH 02 from 60 to 70 m, 0.355% Cu, 0.446 g/t Au 1.2 G/T Ag)|
|DDH 24 from 11.58 to 139.6m, 128.02m of 0.344% Cu 0.296 g/t Au 0.975 g/t Ag|
|Including from 42.06m to 84.73m, 42.67m of 0.737% Cu 0.751 g/t Au 1.57g/t Ag|
|(Twin of PDH 77 from 38 to 93m, 54m 0.342% Cu with 0.473 G/T Au)|
|DDH 25 from 11.28m to 17.37m , 5.99m of 1.372% Cu 0.677 g/t Au|
|(Twin of PDH 94 from 18 to 100m, 82m 1.006% Cu 0.576 G/T Au 1.69 G/T Ag)|
|DDH 26 from 17.37m to 29.57m , 12.2m of 1.163% Cu 0.759 g/t Au|
|(Twin of PDH 94 from 18 to 100m, 82m 1.006% Cu, 0.576 G/T Au 1.69 G/T Ag)|
|DDH 27 from 8.23 to 96.62m, 88.39m of 0.222% Cu 0.192 g/t Au 0.428 g/t Ag,|
|Including from 60.05 to 78.33m, 18.28m 0.546% Cu 0.339 g/t Au and 0.733 g/t Ag|
|DDH 28 from 7.62 to 77.12m, 69.5m 0.257% Cu 0.193 g/t Au 0.644 g/t Ag|
|Including from 38.1 to 62.48, 24.38m 0.451% Cu 0.32 g/t Au and 0.9 g/t Ag|
| Final two intervals of DDH 28 from 199.64m to 205.74m are 3m of 4233 ppm Cu 117.9
ppb Au and 3m of 5890 ppm Cu with 259 ppb Au respectively
Core logging has indicated the presence of a large package of highly altered Nicola group volcanics (flows and tuffs) to a depth of 300 metres. Alteration varies in intensity from whole rock replacement to lightly altered rock with preserved textures. Alteration styles identified in hand specimen, included potassic, albitic, and propylitic, which have also been identified in thin section from previous drilling. Overprinting all is gypsum-albite-calcite-pyrite in a late stage event which crosscuts all other alteration/mineralization.
Mineralization ranges from chalcopyrite-bornite ±pyrite to chalcopyrite-pyrite, to pyrite only. At the highest grades, chalcopyrite and bornite occur in fine grained net-textured to massive disseminations throughout the rock, at lower grades they preferentially replace the mafic minerals in volcanics. Notably the highest grade material is close to surface in all drill holes. Pyrite is ubiquitous outside the highest grade material, occurring with chalcopyrite in veins, as fracture fillings as replacements of mafic minerals or as fine grained disseminations. In the gypsum-calcite-albite phase described above the amount of pyrite can be over 10% in select intervals.
The drilling indicates that mineralization remains open in all directions, further work will look to expand the near surface mineralization, and to explore below the current level of drilling where alteration/geophysics suggests a large target remains to be tested.
Relation to Percussion Drilling
One of the goals of this program was to confirm the grades of the assays reported in the 2011 percussion drilling. Comparison between the copper - gold ICP Geochemistry intercepted in diamond drilling and the percussion drilling (where twinned) indicates that, on average, diamond drilling core geochemistry, the grade was 20% higher for copper and 10% higher for gold. This is undoubtedly due to the better core recovery from diamond drill holes.
In almost all cases diamond drilling confirmed the depth and grade of the previously reported mineralization in percussion holes. The only exception to this is DDH's 25 and 26 which were collared near what may be a narrow structure. They intercepted only part of the well mineralized chalcopyrite-bornite breccia indicated by PDH 94, before continuing down into less well mineralized albite-pyrite altered volcanics.
This News Release was reviewed and approved by V.A. Preto Ph.D., P. Eng. A Qualified Person under NI 43 -101.
Sego Resources Inc.'s only 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.
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.
For further information:
John Geisler, Investor Relations,
J. Paul Stevenson, CEO
Sego Resources Inc.