VANCOUVER, BC, Feb. 24, 2021 /CNW/ - Surge Copper Corp.
(TSXV: SURG) ("Surge" or the "Company") is pleased to announce
assay results for multiple resource definition and exploration
holes from the Company's 100% owned Ootsa Property in British Columbia.
A 15,000-metre drill program is currently underway along the
Seel Trend at Ootsa. One drill is focused on testing the expansion
and near-deposit exploration potential at the West and East Seel
porphyry Cu-Au-Mo-Ag deposits, and the second is testing new
exploration targets. Assays for 15 holes are pending and will be
released regularly as they are received and interpreted.
Highlights
- Hole S20-220 successfully traced higher-grade mineralization at
West Seel to near-surface, highlighted by 70.0 metres of 0.63%
CuEq1 (0.26% copper, 0.26 g/t gold, 0.019%
molybdenum, 7.1 g/t silver), starting from 46.0 metres downhole,
within a total intercept of 484.0 metres of 0.42% CuEq
(0.19% copper, 0.14 g/t gold, 0.018% molybdenum, 3.9 g/t
silver)
- Hole S20-224 intersected 400.0 metres of 0.37% CuEq
(0.18% copper, 0.11 g/t gold, 0.018 % molybdenum, 3.3 g/t silver)
from 34.0 metres, including 50.0 metres of 0.53% CuEq (0.25%
copper, 0.17 g/t gold, 0.018% molybdenum, 6.2 g/t silver) beginning
at 102.0 metres downhole depth
Shane Ebert, VP Exploration,
commented: "West Seel is known to contain a large high-grade
zone at depth, and part of the 2020-2021 field program is aimed at
tracing some of this high-grade mineralization nearer to surface.
We are very pleased to see multiple holes from this program
identifying long intercepts of continuous mineralization starting
near bedrock surface, and locally containing higher-grade, near
surface zones which are expected to enhance open pit
characteristics of the deposit."
Holes S20-220 and S20-224
Hole S20-220 was drilled at the West Seel deposit at an azimuth
of 208 degrees and a dip of -50 degrees to a total depth of 1,069.6
metres. Hole S20-224 was drilled on the same section as S20-220 at
an azimuth of 24 degrees and a dip of -50 degrees to a total depth
of 779 metres. Both holes have successfully encountered long
intercepts of mineralization and have locally extended high grades
to near bedrock surface. Assay results for holes S20-220 and
S20-224 are tabulated below.
Summary of Assay
Results for Holes S20-220 and S20-224
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
CuEq
(%)2
|
Cu
(%)
|
Au
(g/t)
|
Mo
(%)
|
Ag
(g/t)
|
S20-220
|
46.0
|
530.0
|
484.0
|
0.42
|
0.19
|
0.14
|
0.018
|
3.9
|
including
|
46.0
|
116.0
|
70.0
|
0.63
|
0.26
|
0.26
|
0.019
|
7.1
|
including
|
452.0
|
530.0
|
78.0
|
0.62
|
0.27
|
0.20
|
0.039
|
3.5
|
S20-224
|
34.0
|
434.0
|
400.0
|
0.37
|
0.18
|
0.11
|
0.018
|
3.3
|
including
|
102.0
|
152.0
|
50.0
|
0.53
|
0.25
|
0.17
|
0.018
|
6.2
|
including
|
298.0
|
330.0
|
32.0
|
0.60
|
0.30
|
0.19
|
0.27
|
3.6
|
1.
|
Width refers to drill
hole intercepts; true widths have not been determined.
|
2.
|
CuEq (copper
equivalent) has been used to express the combined value of copper,
gold, molybdenum, 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$3.00/lb copper,
US$1,800/oz gold, US$10/lb molybdenum, and US$22/oz silver, using
the formula CuEq % = Cu % + (Au g/t x 0.875) + (Mo % x 3.33) + (Ag
g/t x 0.0107).
|
Hole S20-218
Hole S20-218 was drilled into the East Seel deposit. Results for
the upper portion of the hole have been previously released (see
Surge's November 26, 2020 news
release) and returned 126 metres grading 0.89% copper equivalent
(0.43% copper, 0.5 g/t gold). The hole targeted a prominent
chargeability and resistivity geophysical anomaly located on the
east side of the East Seel deposit and successfully intersected
strong alteration with zones of quartz-pyrite veining and breccias
through the target area. Assays for the bottom portion of the hole
from 230.0 metres to the end of the hole at 584.8 metres depth have
been received and are presented here. The bottom portion of the
hole contained widespread anomalous gold from 312.0 metres to 466.0
metres depth, ranging from below detection (<0.005 g/t gold) to
1.13 g/t gold, averaging 0.11 g/t gold over 154.0 metres. Zones of
stronger gold mineralization occur within this interval including
0.48 g/t gold over 14.0 metres from 382.0 to 396.0 metres depth.
This large zone with elevated gold values represents a new and
promising peripheral gold target on the edge of the East Seel
porphyry system.
Summary of Assay
Results for the Lower Portion of Holes S20-218
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
Au
(g/t)
|
Ag
(g/t)
|
S20-220
|
46.0
|
530.0
|
484.0
|
0.14
|
3.9
|
including
|
46.0
|
116.0
|
70.0
|
0.26
|
7.1
|
including
|
452.0
|
530.0
|
78.0
|
0.20
|
3.5
|
S20-224
|
34.0
|
434.0
|
400.0
|
0.11
|
3.3
|
including
|
102.0
|
152.0
|
50.0
|
0.17
|
6.2
|
including
|
298.0
|
330.0
|
32.0
|
0.19
|
3.6
|
1.
Width refers to drill hole intercepts; true widths have not been
determined.
|
Hole S20-221
Hole S20-221 was drilled at the East Target and tested a portion
of a geophysical anomaly located 800 metres northeast of the East
Seel deposit. Hole S20-221 was drilled at an azimuth of 90 degrees
and a dip of -60 degrees to a total depth of 576 metres. The hole
intersected 90 metres of overburden before encountering bedrock and
did not test the high-grade West Damascus Fault target. The hole
did not encounter any intervals of significant mineralization but
did intersect several zones with elevated gold, silver, copper, and
zinc. From the start of bedrock at 90 metres to 150 metres depth
the hole encountered a zone of clay and pyrite alteration
containing anomalous gold ranging from below detection (<5 ppb
gold) to 0.16 g/t gold. Within the hole silver values ranged from
below detection (0.3 g/t silver) to 30.1 g/t silver, copper values
ranged from trace to 0.18% copper, and zinc ranged from trace to
0.55% zinc.
Drill Program Update
Two drill rigs are active on the property, 20 holes have been
completed, and two holes are currently in progress. Results for
five holes have been received and released. A further 15 holes have
been completed, processed, and submitted to the lab for assay with
results pending. Figure 4 shows the locations of the 2020-2021
drill holes.
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.
Qualified Person
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.
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.
The Company is also earning into a 70% interest in the Berg
Property from Centerra Gold. Berg is a large, advanced stage
exploration project located 28 km northwest of the Ootsa deposits.
Berg contains a large copper-molybdenum-silver mineralized zone
with historical resources. Combined, the adjacent Ootsa and Berg
properties give Surge a dominant land position in the
Ootsa-Huckleberry-Berg district and control over four advanced
porphyry deposits.
On Behalf of the Board of Directors
"Leif Nilsson"
Chief Executive Officer
For Further information, please contact:
Telephone: +1 604 416 2978 or +1 604 558 5847
info@surgecopper.com
http://www.surgecopper.com
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. All statements
included herein, other than statements of historical fact, are
forward looking statements, including but not limited to the
Company's plans regarding the Berg Property and the Ootsa
Property. 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 expected 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 suggestions 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.
|
1)
|
Copper equivalent
("CuEq") has been used to express the combined, gross in-situ
content of copper, gold, molybdenum, and silver with no adjustments
made for recovery. It is provided for illustrative purposes only
and is calculated using the following pricing assumptions:
US$3.00/lb copper, US$1,800/oz gold, US$10/lb molybdenum, and
US$22/oz silver.
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/surge-copper-intersects-484-metres-of-0-42-cueq-at-west-seel-including-70-metres-of-0-63-cueq-from-46-metres-depth-301233918.html
SOURCE Surge Copper Corp.