VANCOUVER, Canada, Sept. 9,
2019 /CNW/ -- Surge Exploration Inc. ("the Company" or
"Surge") (TSXV: SUR) (OTC: SURJF) (FRA: DJ5C) announces that it has
recently acquired 100% interest in additional Gold Copper mineral
claims adjoining its Trapper Lake Property in Northern British Columbia near the Golden
Bear Mine, a 480,000 oz Au past producer, currently owned
by Newmont Goldcorp Corporation (NYSE: NEM) (TSX:
NGT). It should be noted that results from nearby and/or
adjacent properties are not necessarily indicative or reflective of
mineralization that may be hosted on the Company's property.
Subject to the terms and conditions of the resultant Purchase
and Sale Agreement dated September 5,
2019, for the new mineral claims, Surge agrees to make a
cash payment to the vendor in the amount of $17,400 and issuing 500,000 fully paid and
non-assessable common shares in the capital of the
Company. The transaction is subject to TSX Venture Exchange
("Exchange") approval.
All shares issued are subject to a four month and a day hold
period in accordance with applicable securities laws.
The mineral claims owned by Surge is also partly adjoining the
Thorn Project currently owned by Brixton Metals Corp.
("Brixton") (BBB: TSXV) located in the Sutlahine River
area of northwestern British
Columbia (northern tip of the "Golden Triangle"). At
the Thorn Project, Brixton reported on July
15, 2019 a new drill hole intercept of 1.97 grams per
tonne gold equivalent across 554.70 meters including 135.96M of 1.35 g/t Au, 0.31% Cu, 133.62 g/t Ag
or 5.00 g/t Au including 6M of 3.56%
Cu, 3.37 g/t Au, 257.77 g/t Ag. Again, results from nearby
and/or adjacent properties are not necessarily indicative or
reflective of mineralization that may be hosted on the Company's
property.
Surges' land acquisition complements its previously announced
220 sq. km mineral claim staking program Golden Triangle,
reiterating the Company's commitment to region. These new
claims have been acquired to provide additional exploration
potential within BC's Golden Triangle, a regionally important
geological and structural trend in Canada. A large portion of
the new property is adjoining both the Thorn Project and the
boundaries of the Golden Bear Mine.
In Brixton's news release dated Aug 27,
2019 (Brixton News Release) they reported that they have
commenced a phase two exploration program at its Thorn Project
consisting of approximately 7,000 to 10,000 metres of HQ and NQ
size core drilling with two drills on 2 distinct porphyry targets
within the Camp Creek Copper Corridor and the Chivas zone. In
this news release, Brixton also confirmed that it has recently
staked an additional 862 square kilometres of new mineral claims
adjoining the Surge Exploration Mineral Claims for a new total
mineral claim area of 1,858 square kilometres of wholly owned
tenure in the area.
Tim Fernback, Surge CEO states:
"To put this in perspective, the total area explored by
Surge is approximately equal to ninety-five times (95 X) the size
of New York's famous Central Park
or five and a half times (5.5X) the size of the entire island of
Manhattan. With Brixton
Metals announcing on August 8,
2019 that renowned gold mining investor, Mr. Eric Sprott, through 2176423 Ontario Ltd. (a
corporation which is beneficially owned by him) acquired 22,250,000
Units for total consideration of $4,005,000 of its recently completed $7.7 million private placement, this area appears
to be quite active for gold exploration. It is notable that
following the completion of the August
2019 private placement, Mr. Sprott's holdings including
previously held shares will represent 18.25% of the issued and
outstanding common shares of Brixton Metals, on a non-diluted
basis.
"This area has already generated several promising projects, and
is the subject of significant interest and exploration expenditure
in 2019 with recent discoveries by Brixton Metals, Stuhini
Exploration., Dunnedin Ventures, Garibaldi Resources,
and IMGM International Mining Canada. Furthermore,
this region is host to numerous operating mines, good
infrastructure including experienced exploration and supporting
services. Our exploration team believes that this land package
is strategically situated to exploit the high gold and copper
values of the region."
About the Property
The Company owns 100% interest in the Golden Triangle – Trapper
Lake Group of 23 mineral claims which are located in the prolific
Golden Triangle Region of northwestern British Columbia approximately 90 km ENE
from Juneau, Alaska. Surges' staking program acquired an area
of approx. 325 sq. km within the regionally important geological
and structural trend. A large portion of the new property is
adjacent to the Thorn Project owned by Brixton Metal's
Corp. ("Brixton") with the balance covering
prospective open ground containing numerous B.C. Minfile showings
with Cu, Ag, Au values adjoining the boundaries of Newmont
Goldcorp's Golden Bear Mine, a 480,000 oz Au past producer.
In Brixton's news release dated July 15,
2019 (Brixton News Release), they reported results from
drill hole THN19-150, which was drilled to 829.06 metres depth at
the Oban diatreme breccia pipe within the Camp Creek copper
corridor. Brixton reported a drill hole intercept of 1.97
grams per tonne gold equivalent across 554.70 meters including
135.96M of 1.35 g/t Au, 0.31 % Cu,
133.62 g/t Ag or 5.00 g/t Aueq including 6M of 3.56% Cu, 3.37 g/t Au, 257.77 g/t
Ag. Structural mapping and soil-rock geochemistry at the
Chivas zone and relogging of select core from the Glenfiddich zone
were also conducted as part of the overall exploration program at
the Thorn Project.
About Surge Exploration Inc.
The Company is a Canadian-based mineral exploration company
which has been active in the resource sector in British Columbia and elsewhere in
Canada.
Golden Triangle – Trapper Lake Property (Copper Gold),
British Columbia
The Company owns 100% interest in the Golden Triangle – Trapper
Lake Group of 23 mineral claims which are located in the prolific
Golden Triangle Region of northwestern British Columbia approximately 90 km ENE
from Juneau, Alaska. Surges' staking program totals an area of
approximately 325 sq. km within the regionally important geological
and structural trend. A large portion of the new property is
adjacent to the Thorn Project owned by Brixton Metal's
Corp. ("Brixton") with the balance covering prospective
open ground containing numerous B.C. Minfile showings with Cu, Ag,
Au values adjoining the boundaries of the Golden Bear Mine, a
480,000 oz Au past producer.
In Brixton's news release dated July 15,
2019 (Brixton News Release), they reported results from
drill hole THN19-150, which was drilled to 829.06 metres depth at
the Oban diatreme breccia pipe within the Camp Creek copper
corridor. Brixton reported a drill hole intercept of 1.97
grams per tonne gold equivalent across 554.70 meters including
135.96M of 1.35 g/t Au, 0.31 % Cu,
133.62 g/t Ag or 5.00 g/t Aueq including 6M of 3.56% Cu, 3.37 g/t Au, 257.77 g/t
Ag. Structural mapping and soil-rock geochemistry at the
Chivas zone and relogging of select core from the Glenfiddich zone
were also conducted as part of the overall exploration program at
the Thorn Project.
Mineral Mountain Properties (Copper Gold) British Columbia
The Company owns a 100% interest in the Omineca Group of 12
claim blocks which are located in the Omineca Mining Division of
north-central British Columbia,
approximately 150 km north of Fort St. James. The claims are
not subject to any royalty terms, back-in rights, payments or any
other agreements and encumbrances.
B.C. Minfile assessment report data indicates that most of the
area covered by the Omineca Group claim blocks were at one time or
another covered by staking during surges of exploration in B.C.
dating from the 1940's to present day. Largely the claims
appear to have been minimally explored with little
follow-up. However, some work was recorded on several claims
with results for stream sediment sampling showing anomalous to
highly anomalous results for gold in a few areas. These areas
were recommended for detailed follow-up, however due to a previous
commodity price downturn no further work was recorded.
Prominent among early discoveries in the Omineca region were the
nearby Lustdust/Stardust property (Sun Metals
Corp.) (TSXV: SUNM) covering a large, coherent
integrated porphyry-skarn-manto, epithermal system; the Kwanika
property (Serengeti Resources Inc./POSCO Daewoo (TSXV:
SIR) a promising advanced stage copper-gold project; the Lorraine
property (Teck Resources and Sun Metals)
host to a significant copper gold NI 43-101 compliant
resource. The Surge tenures are located between the Kemess
North project being developed by Centerra Gold's
subsidiary Aurico Metals and Centerra Gold's
operation Mt Milligan mine.
Hedge Hog Property, (Copper Gold) British Columbia
The Company has an option to earn an undivided 60% interest
seven mineral tenure covering 2,418 hectares (5,972 acres) located
approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the historic
gold mining towns of Wells and
Barkerville.
Ontario Cobalt Properties (Cobalt) Ontario
The Company has an option to earn an undivided 60% interest in
the Glencore Bucke Property and the Teledyne Property, located in
Cobalt, Ontario Canada.
On Behalf of the Board of Directors
"Tim Fernback"
Tim Fernback
President &
CEO
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.
This news release may contain forward‐looking statements
which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and
uncertainties. Except for statements of historical facts, comments
that address resource potential, upcoming work programs, geological
interpretations, receipt and security of mineral property titles,
availability of funds, and others are forward‐looking.
Forward‐looking statements are not guarantees of future performance
and actual results may vary materially from those statements.
General business conditions are factors that could cause actual
results to vary materially from forward‐looking statements.
Surge Exploration Inc.
Suite 1220 ‐ 789 W Pender Street
Vancouver, BC V6C 1H2
Telephone: +1 (778) 945-2656
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SOURCE Surge Exploration Inc.
