VANCOUVER, Oct. 11, 2013 /CNW/ - Sego Resources Inc. (the "Company") (TSXV: SGZ) is pleased to announce that the Company has completed 1784 metres of percussion drilling in 34 short holes on the Miner Mountain Project near Princeton, BC. All drill cuttings were analyzed by a Niton XL2 Goldd portable X-ray fluorescence analyzer for copper grade and selected mineralized cuttings were sent to Acme Labs for analysis. The focus of the program was to (1) 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) and (2) to extend known mineralization in the Cuba Zone. Priority was given to targets with coincidental magnetic, IP chargeability, and soil geochemical anomalies. The following drill highlights suggest extensions of the Cuba Zone, the presence of porphyry alteration and mineralization in the Quintana Zone, porphyry or skarn alteration and mineralization in the Upper Regal Zone, and indications of a new zone northwest of the Cuba Zone.
Highlights from the recent drilling of the foregoing mineralized zones are summarized below:
Upper Regal Zone (from September 8, 2013 News Release)
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:
30m of 0.31% Copper and 0.15 g/t Gold from 32m to 62m (end of hole)
Including 10m of 0.55% Copper and 0.36 g/t Gold from 46m to 56m
and 2 m 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.
Drill cuttings sent for analyses include those from holes PDH-13-114, PDH-13-115, and PDH-13-129.
PD-13-114 was drilled near the western margin of the Cuba Zone IP anomaly 175 metres from the main area of previous exploration and encountered elevated copper and gold values within a zone of strong albite-chlorite-pyrite alteration which persisted to the end of the hole. Results are as follows:
6m of 0.13% Cu and 0.074 g/t Au from 38-44m and
6m of 0.074% Cu and 0.12 g/t Au from 72-78m.
PDH-13-115 drilled upslope and east of PDH 114 but within the same IP anomaly encountered similar alteration and mineralization. Results are as follows:
40-42m of 0.169% Cu with 0.261 g/t Au.
PDH-13-129 was drilled 100m to the south of the main IP anomaly to test for mineralization under basaltic cap rock. The hole passed through the cap rock at 40m, and into a chlorite-epidote-magnetite altered rock, and bottomed in pervasive albite-potassium feldspar alteration. Mineralization included chalcopyrite and magnetite. Results are as follows:
36m of 0.1% Cu with 0.25 g/t Au from 42m-76m,
including 6m of 0.21% Cu and 0.40 g/t Au between 50 and 56 m.
A New Zone?
PDH-13-136 may be indicative of a new zone of mineralization and further exploration is planned to develop this target.
PDH-13-136 drilled 300m to the northwest of the main IP anomaly, was mineralized from top to bottom. However, in contrast to the previous holes this hole encountered primarily oxide mineralization hosted by oxide coated chlorite-epidote altered rock. The style of alteration and mineralization encountered plus the geophysical signature in the area of this hole could be indicative of a new zone of mineralization developing northwest of the Cuba Zone. Results are as follows:
56m of 0.23% Cu and 0.095 g/t Au from 0-56m (complete drill hole)
including 42m of 0.26% and 0.11 g/t Au from 14-56m
including from 16-24m 0.29% Cu and 0.19 g/t Au.
The Quintana Zone, 500m northeast of the Cuba Zone, is a large zone within which previous trenching encountered leached cap material featuring abundant malachite, a secondary copper mineral. Previous geophysical work outlined a large IP anomaly within a magnetic low and bound by distinct lineaments to the east and west. The zone was tested by 11 percussion holes which encountered intense albite-quartz-chlorite-clay-pyrite alteration plus amythest, chlorite-epidote-albite altered rock and, at the end of one hole (PDH 118), pervasive potassic alteration.
Drill cuttings from holes PDH 121 and PDH 124 were submitted for analyses.
PDH 121 was drilled in the eastern part of the geophysical anomaly and intercepted a large zone of albite-chlorite-clay-quartz-pyrite alteration, within chlorite-epdiote-albite altered rock, and contains elevated copper and gold values. Results are as follows:
76-78m 0.233% Cu and 0.206 g/t Au.
PDH 124, drilled 32m east of PDH 121, intersected a similar alteration suite. Results are as follows:
6m of 0.11% Cu with 0.04 g/tAu from 44-50m.
A drill hole location map and a 3D video which provides an overview of results to date can be found on our website www.segoresources.com
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