VANCOUVER, June 28, 2013 /CNW/ - Sego Resources is pleased to announce that it had contracted Dr. Jules J. Lajoie PhD., P.Eng., former Chief Geophysicist of Cominco, Teck-Cominco and Teck Resources, to reanalyse and integrate the 2009 Titan 24 IP survey and the 2013 Precision Geosciences Airborne Geophysical Survey conducted over Sego's Miner Mountain Property, near Princeton, BC. The work is now completed and Sego has received the final report entitled "Titan 24 Re Processing, Heli Magnetics and Radiometrics Interpretation".
The report details eight separate target zones on the property worthy of further investigation through drilling and/or further geophysics.
Targets #1&2 respectively are the Cuba Zone for which IP strongly suggests extension to the WNW and ESE, and the yet untested Quintana Zone, located about 700 m NE of the Cuba Zone and consisting of a 500 m diameter IP response that coincides with a Mag low, as occurs over the Cuba Zone mineralization (100.39m of 0.946% Cu 0.55 g/t Au 3.473 g/t Ag in DDH 21, and 128.02m of 0.344% Cu 0.296 g/t Au 0.975 g/t Ag in DDH 24 in the Cuba Zone-NR March 12, 2012).
Target #3 is immediately south and upslope of the Regal Zone which contains attractive copper grades and has been interpreted to be a post-glacial landslide deposit.
Target #4 is in the approximately 1.5 km, and open, E-W IP high in the SW part of the survey area, and is "located immediately north of strong magnetic anomalies, a situation not unlike that at Copper Mountain". As a start three holes are recommended for this target.
Targets #5&6 are in the south-eastern part of the Titan 24 IP survey. Target #6 shows increasing chargeability at depth and to the east, with depth to the top of the deep chargeability indicated to be in the 100-200 m range on the easternmost line.
Targets #7&8 are both in the northern part of the property, in excess of 1 km north of the Quintana Zone (Target #2) in an area not covered by the Titan 24 IP survey. Target #7 is a strong mag low. Target #8 is a sub-circular area about 1 km in diameter "...displaying unusually quiet mag (magnetite destruction?) with the center showing somewhat elevated mag and K/Th ratio, as one might expect for the central core of a porphyry system." IP coverage is recommended for both areas.
Sego has already located mineralization and/or alteration in target areas 1 through 7, with surface exploration including trenching, soil geochemistry and surface geological mapping. The report is now being reviewed by Sego's Exploration team.
The report is available on the Sego Website under "Technical Reports".
Sego is currently conducting a financing by short form offering document (NR May 14, 2013) and anticipates closing the financing on or before July 12, 2013 and expects to commence drilling mid-July.
This News Release has been reviewed by Chris Sampson, P.Eng. ARSM and Vic Preto, PhD, P.Eng., both qualified persons under NI 43-101.
Sego'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.
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.
SOURCE: Sego Resources Inc.
For further information:
J. Paul Stevenson, CEO