Sego identifies drill targets at Miner Mountain

Oct 16, 2019

2019-10-15 13:27 ET – News Release

Mr. Paul Stevenson reports

NEW COPPER-GOLD TARGETS DEFINED AT MINER MOUNTAIN, BRITISH COLUMBIA

Sego Resources Inc. has provided an update on the Miner Mountain porphyry project, with a review of existing data identifying new drill-ready targets. Miner Mountain is a copper-gold porphyry project located near Princeton, in the Quesnel terrane of south-central British Columbia, a productive belt containing the operating Copper Mountain (Copper Mountain/Mitsubishi Materials), New Afton (NewGold) and Highland Valley (Teck Resources) mines.

“Compiling the extensive dataset that Sego has collected over the last few years has revealed some compelling new drill targets. The Empress zone is a large copper-gold anomaly that could be the source of the high grade mineralization at the adjacent Granby and Cuba zones. Trenching on the edge of the anomaly earlier in 2019 sampled 18m grading 0.96% copper and 0.31 grams per tonne gold,” stated CEO J. Paul Stevenson. “Drilling this target along with the gold-rich porphyry target to the south and the new Sovereign zone will be a priority of the company in the coming months.”

Empress Zone

Drilling by Sego in recent years has defined mineralization at the Cuba and Granby Zone hosted in volcanic rocks but a porphyry source has not been identified. The area contains potassic and argillic alteration with locally high grade, structurally controlled mineralization, including previously reported holes:

Cuba Zone: DDH 12-21: 100 metres grading 0.95% copper and 0.55 g/t gold from 10 m;
Granby Zone: DDH 08-4: 52.5 metres grading 0.41% copper and 0.12 g/t gold from 18 m.

Immediately to the northwest is an approximately 500 metre by 600 metre copper and gold soil anomaly with supporting elevated molybdenum, silver, zinc, manganese and iron. This signature is typical of alkalic prophries in southern British Columbia. Further the zone has a complex magnetic signature with a central magnetic low, two bullseye magnetic highs (Figure 2) and occurs on the margin of a chargebility high. The relationship of magnetite alteration with copper mineralization at Granby makes the proximal magnetic high an attractive target.

Gold-Copper Target

Towards the south of the property, another large zone with a gold-rich footprint is evident in the soil sampling. This area has been the focus of trenching in the past with gold and copper mineralization returning:

Trench 42: 10 metres grading 1.18% copper;
Trench 32: 32 metres grading 0.29% copper and 1.0 g/t gold;
Trench 88: 1 metre grading 31.47g/t gold and 27.2 g/t silver.

Six drill holes (four completed in 1969 and two by Sego) are drilled in the vicinity but not into the consistent gold, copper and molybdenum soil anomaly. These holes do not explain the source of the anomaly and the target remains to be effectively tested.

Exotica Target

North of the Empress zone, a copper-only anomaly occurs on the downthrown side of the boundary fault. Unlike the Regal Landslide this has no supporting multi-element geochemistry and is likely to be formed due to oxidation and remobilisation of copper mineralization.

Sovereign Zone

In the north of the property beneath a blanket of till cover is a copper, zinc, molybdenum with a weak manganese target that has never been prospected or drill tested. The anomaly occurs coincident with a well-defined magnetic low and represents another typical alkalic porphyry footprint.

Qualified Person Statement

This news release was reviewed and approved by Selina Tribe, Ph.D., P.Geo., a Qualified Person under NI 43-101.

About the Company

Sego is 100% owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project near Princeton, British Columbia. The property is 2,056 hectares in size and is located 15 kilometres north of the Copper Mountain Mine operated by Copper Mountain Mining Corporation and Mitsubishi Copper. Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band on whose Traditional Territory the Miner Mountain project is situated. Sego has received an Award of Excellence for its reclamation work at Miner Mountain.

We seek Safe Harbor.

https://www.segoresources.com/