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Sego Resources Initiates Drilling and Exploration at Miner Mountain Porphyry Copper-Gold Project

Mining News - Published on Fri, 29 May 2020

Image Source: Sego Resources Miner Mountain Project
Sego Resources Inc announced the start of 2020 exploration which will include a 2,000 metre drilling program at the Miner Mountain Porphyry Copper-Gold project near Princeton, BC. The company delayed commencement of the program due to the COVID-19 quarantine requirements but, having consulted with government, industry, contractors, local community and landowners, Sego Resources has deemed exploration safe to commence following strict hygiene and distancing protocols. Sego Resources CEO J Paul Stevenson said "We are excited to get our drilling program underway safely after the COVID-19 delay and build on the breakthrough observations made in late 2019. Exploration will expand on the outcropping mineralization in the Southern Gold Zone and drilling will commence in the first week of June at the Southern Gold, Cuba and Granby targets. The company is fully funded for the upcoming project."

Company has completed a detailed re-logging program of 28 diamond drill holes at the Cuba, Granby and Southern Gold targets. This work confirms that a well mineralized early porphyry intrusion at the Cuba zone has been overprinted with later, grade-destructive alteration and that deeper drilling is planned to test beneath this shallow level alteration. A number of faults have been identified that offset the porphyry mineralization and drilling at Cuba and Granby is designed to test the offset deeper extensions of the well mineralized porphyry.

At the Southern Gold Zone high grade hand samples from earlier, now reclaimed trenches indicate porphyry mineralization beneath the shallow till cover. The Company will spend late May reopening and extending these trenches and completing additional mapping prior to the commencement of drilling.

The Company has granted 4,150,000 stock options for certain Directors, Consultants and Employees at an exercise price of $.08, subject to regulatory approval, including TSX Venture Exchange approval. The options will be issued in conjunction with the stock option plan approved at the last Annual General Meeting, October 16, 2019.

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Posted By : Yogender Pancholi on Fri, 29 May 2020
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