TSX-V Trading Symbol: SURG
Frankfurt Trading Symbol: G6D2
VANCOUVER, BC, April 7, 2021 /CNW/ - Surge Copper
Corp. (TSXV: SURG) (Frankfurt: G6D2) ("Surge" or the
"Company") is pleased to announce it has executed
definitive asset purchase agreements with two vendors to acquire a
100% interest in certain mineral claims in the eastern portion of
the Berg Property and southern portion of the Ootsa Property. The
acquisition of these claims consolidates Surge's ownership of the
Bergette prospect area, which is the most advanced regional
exploration target on the Berg Property outside of the Berg
deposit.
The Bergette target area is situated approximately 10 kilometers
east of the Berg deposit. Prior exploration work has outlined a 2
km by 2 km copper-in-soil anomaly straddling the interior margins
of an intrusive magnetic anomaly that remains open to the east.
Historical shallow drilling in the southwestern and northwestern
corners of the soil anomaly intercepted porphyry mineralization,
including 0.29% Cu, 0.011% Mo, and 0.6 g/t Ag over 70 metres and
0.32% Cu and 0.010% Mo over 64 metres with both potassic alteration
and grades appearing to increase with depth. An AeroTEM survey
completed over the area in 2010 also shows an EM geophysical
anomaly comparable in magnitude and scale to the signature over the
Berg deposit area.
The Company is planning a surface exploration program at
Bergette starting mid-July of this year that will focus on
extending and fully defining the large copper in soil anomaly,
complete surface mapping and rock sampling, and potentially look to
complete a ground-based induced polarization geophysical survey
over the entire target area.
Under the terms of the asset purchase agreements, Surge will
issue to two vendors a total of 850,000 common shares, and register
separate net smelter return royalties on the claims, each subject
to certain buyback rights. The terms of the agreements and issuance
of Surge shares are subject to TSX Venture Exchange approval. The
shares issued will be subject to a statutory four-month hold
period.
Participation in Upcoming Investor Conferences
The Company also announces its participation in the following
upcoming virtual investor conferences:
- 121 Mining Investment Americas Online 27-29 April
- 121 Mining Investment EMEA Online 25-27 May
- 121 Mining Investment APAC Online 16-18 June
Qualified Person
Dr. Shane Ebert P.Geo., is the
Qualified Person for the Ootsa and Berg projects 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.
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 pit constrained 43-101 compliant resources of copper,
molybdenum, and silver in the Measured and Indicated categories.
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, the ability to obtain
adequate financing to conduct its planned exploration programs,
inability to procure labour, equipment and supplies in sufficient
quantities and on a timely basis, equipment breakdown, impacts of
the current coronavirus pandemic, 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.
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SOURCE Surge Copper Corp.