And Completion of Phase III Percussion Drilling.
New Zone Extended on Cuba IP Anomaly.
VANCOUVER, Jan. 3, 2012 /CNW/ - Sego Resources Inc. ("Sego" or the "Company") is pleased to report that it has recently received rock geochemistry from the Phase III percussion drilling program totalling 945 samples. The new copper-gold zone identified in Phase II (see NR November 28, 2011) has been extended to the southeast by 125 metres and remains open to the W, E, NE, SE, and at depth. This extension is part of the Cuba Zone IP anomaly which is 350m x 1500m.
Highlights of the extension include:
|MM-11-PDH-94||1000 ppm copper = 0.1% copper||100 ppb gold = 0.1 grams/tonne gold|
|>10,000 ppm copper = >1% copper||1000 ppb gold = 1 grams/tonne gold|
|From||To||sample||Cu ppm||Au ppb||Ag ppm|
Rock geochemical results can be found on our website at www.segoresources.com. All samples over 1,000 ppm Copper have been sent for fire assay. Hole averages will be released when fire assays are completed.
Phase III consisted of 25 percussion holes drilled on a 30 m x 30 m grid of 200 m x 150 m.
The Granby-Cuba Zone is 350 m x 1500 m and has been drilled on a 30 metre grid basis by the 102 percussion drill holes of Phases I, II, and III. The 2012 diamond drill program designed to test the zone at greater depth is expected to begin in mid-January. Sego Resources is permitted for five years of exploration.
Sego Resources Inc.'s sole project is the Miner Mountain Project, a Copper Gold Porphyry project near Princeton, B.C., 15 kilometres north of Copper Mountain Mining Corporation's Copper Mountain Mine, now in production. The Miner Mountain Project is situated within the Traditional Territory of the Upper Similkameen Indian Band, with whom Sego has a Comprehensive Memorandum of Understanding.
This News Release was reviewed and approved by V.A. Preto Ph.D., P. Eng. A Qualified Person under NI 43 -101.
J. Paul Stevenson, CEO
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.
For further information:
For further information please contact: John Geisler, Investor Relations, [email protected]