VANCOUVER, May 5, 2015 /CNW/ - Sego Resources Inc. ("The Company) held its Annual General Meeting on April 20, 2015. The Stock Option Plan and the appointment of auditors were passed. Two new Directors were elected and one Director stood down.
Chris Sampson, P.Eng., chose not to stand for re-election in order to cut back on some of his activities. It is usual to thank a past Director for their valuable work and wish them well in the future. Several Sego Directors have worked with Chris for decades and will continue our long friendship and association, so "Thank you, Chris" and we look forward to many more years of friendship.
Elected to the Board were incumbents J. Paul Stevenson, Shelley Hallock, Al Hilton, and G. Ken Willington. The two new members elected to the Board are Ms. Selina Tribe, Ph.D., P.Geo., and Mr. Brent Petterson, CGA.
Dr. Tribe is a Professional Geoscientist and project manager with 20+ years of experience in resource exploration & development projects throughout Canada and the Americas. Her 2010 terrain study of Miner Mountain identified landslide source areas that guided the Company to drill significant in situ copper-gold mineralization in what is now called the Granby-Cuba-Regal zone.
Drill highlights from the Granby-Cuba-Regal zone include:
- Diamond Drill Hole DDH21, which contains 100 m of 0.95% Cu, 0.55 g/t Au and 3.47 g/t Ag from 10.06m to 110.45m depth, and includes 35 m of 2.45% Cu, 1.35 g/t Au and 8.9 g/t Ag from 10.06m to 45.11m depth;
- Diamond Drill Hole DDH 24, which contains 128 m of 0.34% Cu, 0.3 g/t Au and 0.98 g/t Ag from 11.58m to 139.6m depth, and includes 42.67m of 0.74% Cu, 0.75 g/t Au and 1.57g/t Ag from 42.06m to 84.73m depth (reported in News Release dated March 12, 2012).
Please see News Release dated March 12, 2012.
An extensive percussion drill program completed in 2012 shows the zone to be a 1.0 km x 0.5 km area of copper-gold with minor silver and platinum group metals mineralization extending from surface to about 100 m depth and open in several directions. As reported in News Release January 23, 2012.
Mr. Petterson is an accountant with extensive experience in financial reporting matters related to Junior Resource Companies. In addition to joining the Board Mr. Petterson assumes the office of Chief Financial Officer.
This News Release was reviewed and approved by Selina Tribe, Ph.D., P.Geo. A Qualified Person under NI 43 -101.
Sego is 100% owner of the Miner Mountain Project, an alkalic copper-gold porphyry exploration project near Princeton, British Columbia. The property is 2,056.54 hectares in size and located 15 kilometres north of the Copper Mountain Mine operated by Copper Mountain Mining Corporation and Mitsubishi Copper. Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band, in whose Traditional Territory the Miner Mountain Project is situated. Sego holds a 5-year exploration permit for the property and has received an Award of Excellence for its reclamation work at Miner Mountain.
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, Sego Resources Inc.