Sego Exploration Target Review of South Gold Zone "At and Near Surface" Potential Tonnage & Grade
Rhea-AI Summary
Sego Resources Inc. (TSXV: SGZ) has received an Exploration Target Review from SRK Consulting for the South Gold Zone at its Miner Mountain Project. The review estimates a potential 5,000,000 to 8,000,000 tonnes of mineralization with 0.5 to 0.7 grams per tonne of gold, potentially containing 100,000 to 150,000 ounces of gold. SRK developed a 3D litho-structural model and proposed additional infill drilling locations to test structural features and potentially increase the target size.
The study is based on 22 diamond core holes and 1,545 gold assay data. SRK used Inverse Distance interpolation and an average specific gravity of 2.7 to estimate tonnage. Next steps include completing SRK's recommended drilling and further exploration of a copper-gold porphyry target north of the South Gold Zone.
Sego's Board has granted 6,775,000 stock options to directors, officers, and consultants, exercisable at $0.08 until July 25, 2029, subject to TSX Venture Exchange approval.
Positive
- Exploration Target Review estimates 5-8 million tonnes of mineralization
- Potential gold content of 100,000 to 150,000 ounces
- SRK proposed additional drill locations to potentially increase target size
- Integrated litho-structural model developed to facilitate future targeting
Negative
- Exploration target is not a NI 43-101 compliant resource or reserve
- No certainty that further exploration will result in a defined Mineral Resource
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Sego Resources Inc. (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce that it has received from SRK Consulting (Canada) Inc. ("SRK"), an Exploration Target Review on the South Gold Zone at its Miner Mountain Project including recommended additional infill drilling.
Figure 1: 3-D View of the Litho-structural and Mineralization Models of the South Gold Zone
Source: SRK, 2024
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/224384_e752294db493a92b_002full.jpg
DISCLOSURE WARNINGS IN RESPECT TO AN EXPL0RATION TARGET REVIEW
- An exploration target is not a NI 43-101 compliant resource or reserve.
- The South Gold Zone is confirmed only as a target for further exploration.
- Potential quantity and grades are conceptual in nature only.
- There has not been sufficient exploration to define any mineral resource.
- There is no certainty that further exploration will result in the target being delineated as a Mineral Resource.
- The assessment of the target for further exploration was completed by SRK Consulting ("SRK"), a consultant independent of the Company. The estimation of the potential quantity and grade of the exploration target was based on a drillhole database of 22 diamond core holes and 1,545 gold assay data. With the available drilling information, SRK developed conceptual gold mineralization volumes, constrained by interpreted lithological and structural models. The original core samples were composited, and the composited gold assays were capped after evaluating the statistical distributions on probability plots. The gold values were interpolated into a three-dimensional block model using Inverse Distance to a power of three. To estimate a tonnage, an average specific gravity of 2.7 was considered.
HIGHLIGHTS
- An estimated total of 5,000,000 to 8,000,000 tonnes of mineralization of between 0.5 to 0.7 grams per tonne of gold in the South Gold Zone.
- The South Gold Zone may contain 100,000 to 150,000 ounces of gold.
- The SRK Study also proposed drill hole locations to firstly provide infill drilling, secondly test structural features and thirdly potentially increase the size of the exploration target.
This study is an integrated litho-structural model of the South Gold Zone, which covers the conceptual target and a second conceptual target to the immediate north, with the aim of facilitating future targeting and drill hole planning.
Figure 2: 3D and Sectional (Inset) Views of the South Gold Zone Block Model
Source: SRK, 2024
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1056/224384_e752294db493a92b_003full.jpg
NEXT STEPS
- Complete the SRK recommended drilling.
- Further drilling to test a copper-gold porphyry spatially related target immediately north of the South Gold Zone.
Qualified Person
The technical information in this news release, including the information that relates to geology, drilling and gold mineralization was prepared under the supervision of, or was reviewed by Souvik Banerjee, P.Geo, an independent Qualified Person as this term is defined in National Instrument 43-101.
OTHER MATTERS
The Board of Directors has granted directors, officers and consultants of the Company, 6,775,000 stock options exercisable at
ABOUT THE MINER MOUNTAIN PROJECT
Sego owns
For further information please contact:
J. Paul Stevenson, CEO (604) 682-2933
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 are 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 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/224384
FAQ
What is the estimated gold grade in Sego Resources' South Gold Zone (SGOZF)?
How many ounces of gold might the South Gold Zone contain according to the SRK study?
What are Sego Resources' (SGOZF) next steps for the Miner Mountain Project?
How many stock options did Sego Resources (SGOZF) grant to its directors, officers, and consultants?
