TSX-V: SGZ
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.
Cuba Zone
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.
Quintana Zone
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.