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    SGZ   CA8158021037

SEGO RESOURCES INC.

(SGZ)
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Sego Resources Intersects 94.20 m of 0.86 g/t Au to Expand the East and West of the Southern Gold Zone at Miner Mountain Project & Positive Bench Scale Metallurgical Test Recovers 95.8% of Gold by Gravity/Leaching

08/11/2021 | 11:20am EST

Vancouver, British Columbia--(Newsfile Corp. - August 11, 2021) - Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company") is delighted to announce results from four additional diamond drill holes in the Southern Gold Zone of the Miner Mountain Porphyry Copper-Gold project near Princeton, BC. The Southern Gold Zone is an intrusion disseminated hosted gold zone discovered during the Company's 2020 field program (See NR July 7, 2020) and first drilled during April 2021 (See News Release May 27, 2021).

Table 1. Significant gold results in diamond drill holes collared in the Southern Gold Zone

Drill Hole From (m) To (m) Interval (m) Au (g/t)
DDH 48 139.5 152.23 12.73 0.18
and
172.00 174.00 2 0.82
     
DDH 49 19.00 84.12 65.12 0.60
Including  28.76 54.4525.69 0.95 
     
DDH 50 11.28 105.48 94.20 0.86
Including 38.3 56.90 18.6 1.73
Including 72.35 97.20 24.85 1.05


DDH49 and DDH50 were collared 52 m and 46 m to the east and west, respectively, from the DDH46 and 47 section on the same fence as DDH47. Holes were oriented -50 at 160 azimuth similar to DDH46 and DDH47 (see Figure). Both holes intersected significant gold mineralization to the bottom of the holes and both warrant deepening below 84.12 m in DDH49 and 104.48 m in DDH50. DDH48 was collared 72 m to the northwest located on section DDH48-47 and intersected 0.18 g/t Au between 141 to152 m and 0.85 g/t gold (g/t Au) between 172 to 174 m. The results indicate a close proximity to deeper portions to the Southern Gold mineralization. DDH51 was collared 28 m north-northwest of DDH48, and was stopped at 108.5 m due to the fire ban and did not intersect any elevated gold results. For a detailed description of the geology and alteration of the Southern Gold Zone please refer to the Sego Resources Inc. May 27th News Release.

Recent tests of drill core from DDH46 and DDH47 indicate fine-grained moderate to strong amounts of K-feldspar in many of the mineralized sections are associated with <1 to 2% disseminated pyrite. Elsewhere chlorite-sericite assemblages contain similar pyrite contents and gold mineralization and both assemblages alter mainly intrusions. This relatively new type of bulk mineable target has few other indicators to guide explorers and is a challenge to shut down drill holes.

Future exploration will include drill testing to the east and west trend of the Southern Gold Zone and the region deep below the current mineralized zone trend. The magnetic high anomaly below overburden that extends south of the Southern Gold Zone would be evaluated as the programs progress.

BENCH SCALE METALLURGICAL TESTING RECOVERS 95.8% OF THE GOLD FROM THE SOUTHERN GOLD ZONE

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 gravity and leaching CN tests. The work concluded 9.8% of the gold reports to gravity concentration and 59.3% recovered in 1 hour and 72.6 % after 3 hours using a cyanide leaching process. An impressive 95.8% of the gold recovered test the composite sample with little further testing. The entire "Sego Resources Inc. Metallurgical Testwork Report" can be found at www.segoresources.com

CEO J. Paul Stevenson comments, "The July program drill results continued to extend the strike length of the Southern Gold Zone to add the potential of bulk tonnage gold mineralization. The Southern Gold Zone is most likely a distal expression of blind porphyry copper-gold mineralization within a larger porphyry copper-gold system at the Miner Mountain Project. Our next drill program will include deeper drilling of the holes that were terminated in mineralization, and expand the mineralized zone to the east and west. The remarkable bench scale metallurgical testwork indicates the potential for a very low cost bulk mineable gold producer."

maps are available in news release at www.segoresources.com

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1056/92823_0dee0677c42ed86e_002.jpg


Figure 1- Plan View of Drilling To Date

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1056/92823_0dee0677c42ed86e_002full.jpg

Quality Assurance / Quality Control

Drill core was shipped to MSALABS in Langley, BC for sample preparation and analysis. MSALABS is ISO/IEC 17025 and ISO 9001 certified. Samples were analyzed using an aqua regia digestion with an ICP finish.

Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.

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

About the Project:

Sego is 100% owner of the Miner Mountain project, an alkalic copper-gold porphyry exploration project near Princeton, British Columbia. The Miner Mountain Project combines alkalic porphyry copper-gold mineralization in the Cuba and other zones and the unusual gold mineralization in the Southern Gold Zone which may be distal to an alkalic copper-gold porphyry. 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.

For further information please contact:

J. Paul Stevenson, CEO (604) 682-2933
ceo@segoresources.com

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/92823


ę Newsfilecorp 2021
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Financials
Sales 2021 - - -
Net income 2021 -0,25 M -0,19 M -0,19 M
Net cash 2021 0,29 M 0,22 M 0,22 M
P/E ratio 2021 -53,4x
Yield 2021 -
Capitalization 9,96 M 7,79 M 7,79 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 62,3%
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Managers and Directors
John Paul Stevenson Chief Executive Officer, Secretary & Director
Selina Tribe Chief Financial Officer & Director
Shelley E. Hallock Independent Director
Gordon Ken Willington Independent Director
Jean-Pierre Colin Independent Director
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