TSX-V Trading Symbol: SURG
OTCQX: SRGXF
Frankfurt Trading Symbol: G6D2
VANCOUVER, BC, Oct. 12, 2021 /CNW/ - Surge Copper Corp.
(TSXV: SURG) (OTCQX: SRGXF)
(Frankfurt: G6D2)
("Surge" or the "Company") is pleased to announce assay
results for multiple resource definition holes from the Company's
100% owned Ootsa Property in British
Columbia, and an update on the Company's ongoing activities
and near-term news flow. The 2021 core drilling program at Ootsa
has ended with 26,556 metres of drilling in 72 holes completed
since June 2021. Thus far, following
this news release, results from 20 holes have been released, with
results from 52 additional holes pending including:
- 1,934 metres in 3 holes from resource drilling within the Seel
deposit area
- 9,054 metres in 45 holes from the Seel Breccia Zone located
north of the Seel deposits
- 2,319 metres in 4 holes from regional exploration targets
within the Ox and Seel trends
An updated resource estimate for the Ootsa Property is in
progress, and regional exploration target evaluation and data
compilation will be continuing over the winter with selective drill
testing as warranted. The Company is also actively drilling at the
Berg deposit, with further updates on this program to follow.
Leif Nilsson, Chief Executive
Officer, commented: "This is the second batch of results we are
releasing from a multi-project summer program which has been one of
the busiest in the Company's history. The results continue to
demonstrate the potential to expand the West Seel deposit and to
improve grade within existing volumes. Furthermore, the recent
drilling at the Seel Breccia Zone, for which assays are still
pending, underscores the excellent exploration potential in this
area. A major focus in the coming months will be on advancing our
pipeline of regional exploration targets throughout the
district."
East and West Seel Highlights
- Hole S21-266 intersected 495 metres grading 0.54%
copper equivalent including 355 metres grading 0.62%
copper equivalent and 126 metres grading 0.85% copper
equivalent
- Hole S21-261 intersected 276 metres grading 0.40%
copper equivalent including 64 metres grading 0.53%
copper equivalent
- Hole S21-256 intersected 244 metres grading 0.49%
copper equivalent including 116 metres grading 0.58%
copper equivalent
- Partial assays for the upper portion of Hole S21-268
intersected 270 metres grading 0.47% copper
equivalent from 20 metres to 290 metres depth with assays
pending for the bottom portion of the hole
- Multiple higher grade gold intercepts have been encountered in
drilling including 9.3 g/t gold over 2 metres within a zone grading
1.5 g/t gold over 20 metres, highlighting the precious metal
potential within and proximal to the main porphyry deposit
centres
- A new resource estimate for the Ootsa Property is expected by
year end incorporating approximately 30,000 metres of new core
drilling, which has consistently encountered broad, continuous
zones of mineralization within and outside of the 2016 resource
constraining pit
Seel Breccia Zone and Other Exploration Highlights
- Recent drilling at the Seel Breccia Zone located 200 metres
north of the East Seel deposit has traced for over 200 metres along
strike a zone which is 20 to 60 metres wide and extends to depths
up to 150 metres (see Figure 1)
- On the Berg Property, 9 drill holes have been completed to date
as part of the 2021 core drilling program at the Berg deposit
area
- Final inversion and targeting results from regional ZTEM
airborne geophysics is nearing completion
East and West Seel Drilling Details
Holes S21-256, 265, 266, and 268 are infill holes at West Seel
and all encountered long intervals of continuous mineralization
that will help define grade within those volumes. Hole S21-265
intersected 402 metres grading 0.50% copper equivalent. Hole
S21-266 intersected 495 metres grading 0.54% copper equivalent
including significant zones with higher grades. Hole S21-268
intersected 270 metres grading 0.47% copper equivalent starting at
20 metres depth and will extend the zone of near surface West Seel
mineralization to the southeast. Assays are pending for the bottom
portion of the hole. Holes S21-259, 260, 261, and 263 were all
drilled on the edges of the West Seel system and all encountered
significant mineralization that will help expand the known extents
of the West Seel deposit.
Hole S21-258 tested a regional target located 0.6 kilometres
southeast of the Seel deposits and intersected a precious metal
vein that returned 4.75 g/t gold and 69.7 g/t silver over 1 metre.
Hole S21-257 tested the south edge of East Seel and did not
encounter significant mineralization. The remaining holes in this
release are step out or infill holes designed to expand or
constrain West Seel mineralization.
Summary of Assay Results for Selected Holes
Summary of Assay
Results for Selected Holes
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
CuEq
(%)2
|
Cu
(%)
|
Au
(g/t)
|
Mo
(%)
|
Ag
(g/t)
|
S21-256
|
244
|
312
|
68
|
0.20
|
0.12
|
0.06
|
0.005
|
1.7
|
S21-256
|
314
|
558
|
244
|
0.49
|
0.17
|
0.23
|
0.030
|
2.1
|
including
|
388
|
504
|
116
|
0.58
|
0.19
|
0.26
|
0.041
|
2.2
|
S21-256
|
590
|
610
|
20
|
1.42
|
0.08
|
1.46
|
0.013
|
1.2
|
including
|
606
|
608
|
2
|
8.33
|
0.13
|
9.25
|
0.023
|
3.0
|
S21-258
|
755
|
756
|
1
|
5.08
|
0.18
|
4.75
|
0.000
|
69.7
|
S21-259
|
66
|
192
|
126
|
0.21
|
0.13
|
0.03
|
0.007
|
3.0
|
S21-259
|
198
|
199
|
1
|
4.23
|
0.17
|
4.44
|
0.016
|
11.4
|
S21-259
|
350
|
392
|
42
|
0.32
|
0.12
|
0.17
|
0.007
|
1.9
|
S21-260
|
142
|
172
|
30
|
0.25
|
0.12
|
0.11
|
0.009
|
0.6
|
S21-260
|
248
|
300
|
52
|
0.37
|
0.16
|
0.16
|
0.018
|
0.7
|
S21-261
|
34
|
68
|
34
|
0.29
|
0.15
|
0.08
|
0.007
|
4.2
|
S21-261
|
104
|
380
|
276
|
0.40
|
0.20
|
0.11
|
0.021
|
2.8
|
including
|
142
|
174
|
32
|
0.48
|
0.23
|
0.15
|
0.021
|
4.6
|
including
|
310
|
374
|
64
|
0.53
|
0.28
|
0.12
|
0.034
|
2.7
|
S21-263
|
190
|
818
|
628
|
0.28
|
0.16
|
0.06
|
0.014
|
2.5
|
including
|
308
|
376
|
68
|
0.47
|
0.25
|
0.08
|
0.028
|
5.2
|
S21-265
|
342
|
744 EOH
|
402
|
0.50
|
0.25
|
0.16
|
0.025
|
2.7
|
including
|
342
|
480
|
138
|
0.55
|
0.23
|
0.23
|
0.027
|
3.1
|
S21-266
|
198
|
693 EOH
|
495
|
0.54
|
0.25
|
0.21
|
0.021
|
3.4
|
including
|
388
|
693 EOH
|
355
|
0.62
|
0.28
|
0.25
|
0.026
|
3.3
|
including
|
382
|
508
|
126
|
0.85
|
0.34
|
0.39
|
0.034
|
4.6
|
S21-268
|
20
|
290*
|
270
|
0.47
|
0.24
|
0.14
|
0.014
|
5.5
|
including
|
218
|
290*
|
72
|
0.54
|
0.29
|
0.18
|
0.013
|
5.5
|
|
|
1.
|
Width refers to drill
hole intercepts; true widths have not been determined. EOH = end of
hole.
|
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 and to provide ease of
comparison. 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).
|
*
|
Assays are pending
for the bottom portion of hole S21-268 below 290 metres.
|
Combined with the approximately 20,000 metres drilled during the
2020-2021 winter drill program, a total of approximately 30,000
metres of new core drilling has been completed within the Seel
deposit area. This compares to the approximately 100,000 metres
comprising the drill hole database used for the most recent
resource estimate. Drilling during the 2020-2021 drill programs has
consistently encountered broad, continuous zones of mineralization
within and outside of the 2016 resource constraining pit.
Seel Breccia Zone and Berg Drilling Details
The Company has recently completed 9,054 metres in 45 holes at
the Seel Breccia Zone, located approximately 200 metres north of
the East Seel deposit. This drilling has focused on delineating a
zone of breccia style mineralization that comes to surface, has
been traced for over 200 metres along strike, is 20 to 60 metres
wide, and extends to depths up to 150 metres below surface. Halos
of lower grade mineralization locally surround the high-grade
breccia cores. The recent drill testing was designed to confirm
continuity and grade and define the extents of the zone to allow
this potential high-grade resource to be included in the next
resource estimate. This breccia is known to contain high grade
mineralization highlighted by hole S06-42 which intercepted 138
metres grading 0.84% copper and 22.1 g/t silver from 22 metres
depth (previously released).
The 2021 core drilling program at the Berg deposit area is
expected to conclude shortly with a total of 2,858 metres of
drilling in 9 holes completed to date. The drilling has confirmed
the existing resource model and consistenly intersected the
chalcocite blanket.
Upcoming Catalysts and Marketing Events
The Company anticipates updating the market on results from the
following activities:
- Drill results from 52 remaining drill holes from 2021 Ootsa
drill program
- Drill results from 9 drill holes from 2021 Berg drill
program
- Resource update for the Ootsa project
- Inversion and targeting results from regional airborne
geophysics, and update on regional exploration pipeline
The Company also announces its participation in the following
upcoming investor conferences:
- Mines and Money IMARC, October
19-21
- Swiss Mining Institute, November
2-4
- Mines and Money London, December
1-2
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 ALS
Geochemistry 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 33 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 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:
Riley Trimble, Corporate
Communications & Development
Telephone: +1 604 416 2978
Email: info@surgecopper.com
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://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.