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Be the first with the news that moves the market- Sego Resources (TSXV:SGZ) is re-igniting exploration at its Miner Mountain copper-gold project in British Columbia
- The project was delayed, due to the coronavirus pandemic, but the company is eager to recommence exploration
- The company concluded a 28-hole campaign last year, which returned evidence of mineralization at three targets on the site
- Alongside this news, Sego also announced a share offer of just over four million shares to directors, employees and consultants for the company
- Sego Resources (SCZ) is trading down 10 per cent at C$0.045 per share and has market cap of $5.4 million
Sego Resources (TSXV:SGZ) is re-igniting exploration at its Miner Mountain copper-gold project in British Columbia
The program had a delayed start, due to the coronavirus pandemic, but work is set to ramp up at the site.
Following consultation with government, industry, contractors and the local community near to Miner Mountain, the company claims that exploration can now safely begin on the site.
Sego going to stick by strict social distancing regulations and hygiene procedures, even at its far-flung exploration camps.
The company also announced it is releasing stock options, previously agreed to at its last general meeting. The shares are flowing to unnamed directors, employees and consultants of the company.
The stock is being pried at C$0.08 per share, which is a substantial premium on today’s share price of $0.045.
The company is giving out 4.15 million shares, which does not represent a substantial dilution of its stock, as the company has already issued over 123 million shares.
Sego’s CEO, Paul Stevenson said he was excited to get the ball rolling on the drill program at Miner Mountain, after the coronavirus restrictions had delayed the company’s chance to follow up on its previous exploration.
“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 Zones,” he said.
Paul went on to say that the upcoming program has already been fully-funded.
Sego Resources (SCZ) is down 10 per cent and is trading at $0.045 per share at 11:34 am EDT.
