Business
Copper/Gold/Palladium Acquisition
Copper/Gold/Palladium Acquisition.
About this update from Sego Resources Inc.
[{"type":"text","content":"\n\n\n\nTSX-V: SGZ\n\n\nVANCOUVER, July 19 /CNW/ - Sego Resources Inc. announces that subject to\nregulatory approval, the Company has acquired a porphyry copper/gold/palladium\nproperty, the Miner Mountain project, optioned from the Messers Hopper,\nBrandys, and Omega Exploration Services. The property lies immediately NNE of\nPrinceton, BC in the prolific porphyry copper camp that runs from Copper\nMountain (approximately 50 years of open pit production) along the Allison\nFault to Aspen Grove, BC. The project is approximately 15 km northeast of the\nformer producing Copper Mountain Mine and is within the Traditional Territory\nof the Upper Similkameen Indian Band.\n\n\nA Review and Recommendations Report has been received from Ronald\nNethery, P.Eng., a Qualified Person, within which he states: "the\naforementioned claims are essentially drift covered and offer good exploration\npotential due to the fact that they both border known mineralization." The\nclaims mentioned are a part of the Miner Mountain Project. He continues, "The\nmineral claims, owned by Hopper on the south side of the project area, are\nseen to be structurally prepared, as is evidenced by the frequency of quartz\nveinlets, some of which are copper-gold bearing and offer exploration\ntargets." In his summary he states, "The object of the exploration search on\nthe property could lead to the discovery of a large zone of copper-gold\n(palladium) mineralization that may be conducive to open pit mining."\n\n\nThe agreement entails staged payments of a total of $165,000.00 and\n300,000 shares with a further 300,000 shares due upon the preparation of a\npositive feasibility study on the property. The property is subject to a\n3% NSR of which 1.5% can be purchased for $1,500,000.00. This agreement is\nsubject to regulatory approval.\n\n\nJ. Paul Stevenson, CEO\n\n\nSego Resources Inc.\n\n\n"No regulatory authority has approved or disapproved the information\ncontained in this news release. This release includes certain statements that\nmay be deemed "forward-looking statements". All statements in this release,\nother than statement of historical facts, that address future production,\nreserve potential, exploration drilling, exploitation activities and events or\ndevelopments that the Company expects are forward-looking ...