'Exciting' results add potential
Great Panther Mining is a precious metals miner in the Americas
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The above intercept, from 12.19m, also included 19.8m at 2.44g/t gold.
A second hole intersected 59.1m at 1.03g/t from 3.04m, including 15.2m grading 2.94g/t.
Great Panther Mining is a precious metals miner in the Americas
SPONSOREDgreat panther
CEO J. Paul Stevenson said the results were exciting and showed "excellent potential" to add bulk gold-bearing mineralisation.
"The Southern Gold zone is most likely a distal expression of a blind porphyry copper-gold mineralisation within a broader area of porphyry copper-gold system at the Miner Mountain project," he said.
Miner Mountain is 15km north of Mitsubishi and Copper Mountain Mining's namesake copper-gold-silver mine.
Sego had entered an option to acquire 100% of Miner Mountain in 2007 and has since expanded the project to more than 2,000ha.
It discovered the Southern Gold zone last year and results from 2020 trenching included 62m at 0.65g/t gold, including 30m at 1.02g/t.
The company had reported a working capital deficiency of about C$241,000 at March 31.
It had raised $252,000 for drilling at the Southern Gold zone in February in a placement priced at 3.5c per unit.
Sego shares (TSXV: SGZ) traded below 5c for much of the past year.
They more than trebled on Thursday to 16c, a level last seen in 2013, on the drilling results.
Sego closed on Friday at 11.5c to value it about $15 million (US$12.4 million).