Sego plans additional drilling at Miner Mountain

Oct 12, 2021

2021-10-12 15:16 ET – News Release


Mr. Paul Stevenson reports


Sego Resources Inc. is planning to extend a stepout fall/winter drill program with an up-to-1,000-metre diamond drill program at the southern gold zone bulk-tonnage target at the Miner Mountain project, located near Princeton, B.C. The newly discovered Southern Gold Zone, exposed at surface, intersected gold mineralization in five out of the six 2021 drill holes. Four diamond drill holes grade between 0.60 to 1.08 grams per tonne (gpt) gold over 59 to 93 m (see an attached table) located on three sections spaced at 50 m apart. Bench-scale metallurgical gravity and leaching tests recovered 95.8% of the contained gold in a representative drill core sample. The Southern Gold Zone mineralization has no deleterious elements and very low values of base metals as confirmed by metallurgical testing (see news release dated Aug. 11, 2021).

Chief executive officer J. Paul Stevenson commented: “We are looking forward to more exciting news from this recently discovered gold target. We have been able to determine that the mineralization starts at or near surface based on the north-south drill sections. We plan to extend the mineralization south of current sections and step-outs with new 50 m-spaced sections located east and west on either side of the drilled mineralization.”

The Southern Gold Zone is hosted in medium to fine-grained diorite-monzonite that intrude sediments located to the south. The gold values are associated with very fine-grained disseminated pyrite that ranges from <1% up to 3% in the host rocks whereas less hydrothermal hematite replaces primary magnetite in mineralized drill intersections. Moderate to strong pervasive variable chlorite, K-feldspar, sericite, calcite, and epidote alteration assemblages are associated with the gold mineralization.

Several dozen representative samples have been collected from the 2021 drill holes for petrographic examination. The results will help to understand the genesis of the mineralization and aid exploration and will also clarify the relation of gold to pyrite and hematite and the high recovery of gold values extracted from the recent bench-scale metallurgical leach testing.

An initial bench scale 32.9 kg representative sample from DDH46 and DDH47 core (April drill program) was submitted to Met-Solve Laboratories Inc. to investigate recovery tests using gravity and leaching CN (cyanide) methods. The work concluded 9.8% of the gold reports to gravity concentration and 59.3% of the gold was recovered in 1 hour and 72.6 % after 3 hours using a CN leaching process. An impressive 95.8% of the gold was recovered from the composite sample with little further testing and minimum CN leachate and is used to recover gold in bulk deposits generally mined by open pit in Nevada, USA and elsewhere.

Previous exploration prior to 2020 Sego has identified porphyry copper-gold targets at the Miner Mountain Project north of the Southern Gold Zone where deep roots of the mineralization have been structurally offset by a flat-fault zone that lies roughly 100 m to 130 m deep. The upper fault plate which hosts the known Cuba and other zones of mineralization could have been displaced an unknown distance probably from the north to the south. An example of the mineralization, the Cuba Zone, measures 750 m long by ~50 m wide and carries significant intersections such as 0.946% Cu 0.55 g/t Au 3.473 g/t Ag over 100.4 m in DDH21 (see NR March 12, 2012). In a future exploration program, deep holes are proposed to be collared north of the Cuba Zone and inclined steeply north that will test deep truncated mineralization below the mineralization and alteration of the Granby and Quintana Zones.

This news release was reviewed and approved by Dr. Ron Britten, Ph.D., P.Eng., a Qualified Person under NI 43-101.

We seek Safe Harbor.

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