VANCOUVER, Dec. 8 /CNW/ - Sego Resources reports that it has completed 6 trenches, on the greatly expanded Granby Zone, to date. The first trench, Trench 96, is located approximately 40 metres west of diamond drill hole MM-10-19 , which cut 60.4 metres averaging 0.24% copper, 0.16 g/t gold and 0.72 g/t silver, and bottomed in mineralization (See May 26 2010 N.R.) . This trench, approximately 200 metres long and oriented in a northeasterly direction, is located in the area identified by Dr. S. Tribe, P.Geo. in her March 17, 2010 Terrain Study of Miner Mountain as a headscarp of the Regal slide zone.
Approximately 40 metres west and 15 metres downslope of Trench 96, Trenches 40 and 22 cut copper mineralization in oxidized rock ranging from high individual assays (1.87 % copper and 0.09 g/t gold ; 1.40 % copper and 0.65 g/t gold) to a well mineralized zone of 19 metres averaging 0.99 % copper and 0.65 g/t gold. Please see news releases of April 24, 2008 and May 12, 2008 on our web site. Trench 96 cut, but did not penetrate, a 100 metre zone of intensely clay altered and leached, gossanous cap rock with sparse oxide copper mineralization. A 76 metre zone of less altered, recognizable microdiorite at the south end of the trench is well mineralized with visible chalcopyrite and pyrite. Assays are pending.
Trenches 97, 98, and 101 are located 87, 147 and 219 metres respectively east of Trench 96. Trenches 97 and 98 are both oriented in a north-south direction, 110 metres long and approximately 15 metres higher than Trench 96. Trench 101 is oriented in a northwesterly direction, 50 metres long and approximately 10 metres higher than Trench 96. All three trenches cut gossanous cap rock with only sparse oxide copper mineralization. Sparse veinlets of pyrite,calcite and gypsum were observed in the intensely altered gossan of Trench 97 and 98.
Although trenching reached a depth of approximately 12 metres (30 feet) by benching down, the excavator did not penetrate the gossanous cap which extends for at least 200 metres east-west and 100 metres north-south., and is open in both directions. Drilling is required to test below this zone. Sego is calling for bids on a percussion drilling program to grid the entire zone, to be followed by diamond drilling.
Trench 99 which is 50 metres southwest of Trench 96, on the headscarp of another slide located by Dr. Tribe, interesected over 120 metres of potassically and propylitically altered volcanics with copper oxide mineralization.
Trench 100 which is 205 metres northwest of Trench 96 tested an area between known zones of copper mineralization and uncovered propylitically altered volcanics with zones of copper oxide mineralization.
Sego Resources Inc.'s primary project is the Miner Mountain Project, a Copper Gold Porphyry project near Princeton, B.C., 15 kilometres north of Copper Mountain Mining Corporation's former copper producer, which closed in 1996. Copper Mountain Mining Corporation is planning to restart full production in June 2011.
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. The MOU was signed September 28, 2007 to enable exploration and potential future mine development of the Property. The Miner Mountain property is 2400 hectares in size.
This News Release was reviewed and approved by V.A. Preto, Ph.D., P.Eng., a Qualified Person under National Instrument 43-101.
Please see our website at www.segoresources.com for a map of the trenches and videos
J. Paul Stevenson, CEO
Sego Resources Inc.
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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 are 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:
John Geisler, Investor Relations,[email protected]or 1-866-683-2933