Sego Resources Commences Drilling at Miner Mountain Porphyry Copper-Gold Project
Vancouver, June 9, 2020 - Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce the start of the 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.
CEO J Paul Stevenson comments, "We are excited to get our drilling program underway. Drilling has commenced on the Miner Mountain to test deeper targets below the Granby-Cuba zone of mineralization."
Following a new interpretation, (See News Release November 28, 2019), the Company has completed a detailed re-logging program of 28 diamond drill holes at the Cuba, Granby and Southern Gold targets. This work indicates that a monzodiorite intrusion is central to the mineralized Cuba and Granby Zones and other features representing an upper expression of an alkalic porphyry Cu-Au that together warrant deep exploration beneath these features.
Sego Resources Inc. is applying to the TSX-Venture Exchange to extend the warrants issued in the flow through financing in June 2018. The Company is applying to extend warrants expiring in June and August as follows: Tranche 1-from June 15, 2020 to June 15, 2021, Tranche 2-from August 15, 2020 to August 15, 2021 and Tranche 3-from August 31, 2020 to August 31, 2021. The non-flow through warrants currently expire in 2022.
There is no material change about the issuer that has not been generally disclosed.
This news release was reviewed and approved by Selina Tribe, Ph.D., P.Geo., a Qualified Person under NI 43-101.
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 Corp. 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.
For further information please contact:
J. Paul Stevenson, CEO (604) 682-2933
For investor & shareholder information, please contact:
MarketSmart Communications Inc.
Ph: +1 +1 877 261-4466
Email: info@marketsmart.ca
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 those actual results or developments may differ materially from those projected in the forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57503