VANCOUVER, BC, Nov. 26, 2020 /CNW/ - Surge Copper Corp.
(the "Company" or "Surge Copper") (TSXV: SURG), is pleased to
announce assay results for the upper portion of hole S20-218, the
first hole of the 2020 drilling program at the Company's 100% owned
Ootsa Property in British
Columbia.
A 10,000 metre drill program is currently underway along the
gold rich Seel Trend at Ootsa. One drill is focused on testing
the expansion and near-deposit exploration potential at the East
and West Seel porphyry Cu-Au deposits, the second is testing new
exploration targets.
HIGHLIGHTS
- The upper part of hole S20-218 was drilled through the East
Seel Deposit and returned 176.1 metres grading 0.72% copper
equivalent.
- This includes higher grade portions returning 126.0 metres
grading 0.89% copper equivalent and 32.0 metres
grading 1.30% copper equivalent.
- The Company is fully funded to significantly expand the 10,000
metre drill program as conditions warrant.
Drill Results
The results for the upper 230 metres of
drill hole S20-218 have been received and are presented here,
results for the lower part of the hole are pending and will be
released once they are received and interpreted. Hole S20-218
was collared over the East Seel deposit and drilled at an azimuth
of 115 degrees and a dip of -48 degrees to a total depth of 584.8
metres. The hole penetrated the East Seel deposit and then tested a
large chargeability anomaly located immediately east. The
upper part of the hole intersected continuous copper-gold
mineralization from the start of bedrock at 34.5 metres until the
East Fault at 210.6 metres, returning a zone grading 0.35% copper
and 0.4 g/t gold over 176.0 metres including higher grade sections
within the interval. The lower part of the hole intersected
widespread alteration through the targeted chargeability anomaly,
from 215.0 to 465.0 metres depth, containing abundant pyrite and
zones of quartz-pyrite veining and breccias. Assay results
from the lower part of the hole are expected in a few
weeks.
Assay results for upper portion of hole S20-218 are summarized
in the table below.
Summary of select drill intercepts – Upper portion of Hole
S20-218
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)*
|
Cu
Eq.%**
|
Cu
%
|
Au
g/t
|
Ag
g/t
|
S20-218
|
34.5
|
210.6
|
176.1
|
0.72
|
0.35
|
0.40
|
1.7
|
including
|
64.0
|
190.0
|
126.0
|
0.89
|
0.43
|
0.50
|
2.0
|
including
|
82.0
|
114.0
|
32.0
|
1.30
|
0.59
|
0.77
|
2.8
|
*
|
Width refers to drill
hole intercepts, true widths have not been determined.
|
**
|
Cu Eq. (copper
equivalent) has been used to express the combined value of copper,
molybdenum, gold and silver as a percentage of copper, and is
provided for illustrative purposes only. No allowances have been
made for recovery losses that may occur should mining eventually
result. Calculations use metal prices of US $3/lb copper, $1800/oz
gold, $22 silver, and $10/lb molybdenum using the formula Cu Eq.% =
Cu% + (Au g/t x 0.877) + (Ag g/t x 0.0107) + (Mo% x
3.33).
|
Drill Program Update
Two drills are active on the
property and 4 diamond drill holes have been completed, processed,
and submitted to the lab for assay. Hole S20-218 was completed at
the East Seel deposit and hole S20-219 has been completed at the
West Seel deposit. Hole S20-220 is currently underway at West Seel.
Holes S20-221 and 222 have both been completed at the East Target,
and drilling is underway on hole S20-223, also testing the East
Target. Figure 1 shows the locations of the 2020 drill holes and
Figure 2 shows a cross section with hole S20-218.
Quality Control
All drill core is logged,
photographed, and cut in half with a diamond saw. Half of the core
is bagged and sent to Activation Laboratories Ltd. in Kamloops British Columbia for analysis (which
is ISO/IEC 17025 accredited), while the other half is archived and
stored on site for verification and reference purposes. Gold
is assayed using a 30g fire assay method and 37 additional elements
are analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid
digestion. Duplicate samples, blanks, and certified standards are
included with every sample batch and then checked to ensure proper
quality assurance and quality control.
About Surge Copper Corp.
The Company owns a 100%
interest in the Ootsa Property, an advanced stage exploration
project containing the East Seel, West Seel and Ox porphyry
deposits located adjacent to the open pit Huckleberry Copper Mine,
owned by Imperial Metals. The Ootsa Property contains pit
constrained NI 43-101 compliant resources of copper, gold,
molybdenum and silver in the Measured and Indicated categories.
There are 2 drills working at the project with drilling focused on
defining the extent of the large West Seel deposit and testing new
targets along the Seel Trend.
Dr. Shane Ebert P.Geo., is the
Qualified Person for the Ootsa project as defined by National
Instrument 43-101 and has approved the technical disclosure
contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
"Shane Ebert"
President and Chief Executive Officer
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 contains forward-looking statements, which
relate to future events. In some cases, you can identify
forward-looking statements by terminology such as "will", "may",
"should", "expects", "plans", or "anticipates" or the negative of
these terms or other comparable terminology. These statements are
only predictions and involve known and unknown risks, uncertainties
and other factors that may cause the Company's actual results,
level of activity, performance or achievements to be materially
different from any future results, levels of activity, performance,
or achievements expressed or implied by these
forward-looking-statements. Such uncertainties and risks may
include, among others, actual results of the Company's exploration
activities being different than those mexpected by management,
delays in obtaining or failure to obtain required government or
other regulatory approvals or financing, inability to procure
equipment and supplies in sufficient quantities and on a timely
basis, equipment breakdown and bad weather. While
these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect the Company's
current judgment regarding the direction of its business, actual
results will almost always vary, sometimes materially, from any
estimates, predictions, projections, assumptions or other future
performance suggests herein. Except as required by applicable law,
the Company does not intend to update any forward-looking
statements to conform these statements to actual results.
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SOURCE Surge Copper Corp.