VANCOUVER, Sept. 9, 2013 /CNW/ - Sego Resources Inc. (the "Company") (TSX-V: SGZ) is pleased to announce that the Company has completed 1743 metres of percussion drilling in 32 holes. All drill cuttings were analyzed by a Niton XL2 Goldd portable x-ray fluorescent analyzer for copper grade and mineralized cuttings were sent to Acme Labs for analysis. The focus of the program was to 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). Priority was given to targets with coincidental magnetic, IP chargeability, and soil geochemical anomalies.
The Company has received analytical results from the most significant hole completed in the Upper Regal Zone, the first area tested in the 2013 drilling program. This zone is topographically above the large Regal slide block (~500, 000 tonnes at 0.5% Copper) in an area where soil geochemistry results and geomorphology studies suggested that the block had moved only a short distance downslope. The zone was tested with ten short percussion drill holes for a total of 474 metres along a north-south road that transects the target area which is southwest of the known mineralization in the Cuba Zone. Based on the Niton XL2 results only hole PDH 109 was submitted for assay. Logging of the drill cuttings revealed broad zones of chlorite-albite-pyrite alteration containing copper mineralization similar to the Cuba Zone, plus indications of skarn type mineralization. The alteration and mineralization patterns suggest that drilling to date may have intercepted the upper levels of an alkalic porphyry system.
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:
|30 metres of 0.31% Copper and 0.15 g/t Gold from 32m to 62m|
|Including 10 metres of 0.55% Copper and 0.36 g/t Gold from 46m to 56m|
|And 2 metres 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 exploration.
Additional analytical results from other zones are pending and will be released when received.
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 drilling.
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