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.
Highlights
- Hole S21-264 was targeting
extensions of mineralization into the Gap Zone connecting West and
East Seel. This 60-degree angled hole intersected 296
metres grading 0.53% copper equivalent
from a downhole depth of 448 metres including 66
metres grading 0.75% copper
equivalent
- Hole S21-267 was targeting the
northern limits of the East Seel deposit and intersected
305 metres grading 0.46% copper
equivalent from a downhole depth of 52 metres, and
included 20 metres grading 1.04% copper
equivalent
- Drilling at the
Far East Target, located 300 metres northeast of the East Seel
deposit, has expanded a modest zone of near surface mineralization
that remains open to the east
Assay results have been received for holes
S21-262, 264, 267, and 269, with significant assay results
summarized in the table below. Holes S21-262 and 264 tested the
southwestern margin of the East Seel deposit and the area between
the East and West Seel deposits known as the Gap Zone, and have
defined a large mineralized zone at depth in that area. Hole
S21-267 tested the northeast edge of the East Seel deposit and hole
S21-269 expanded a modest zone of near surface mineralization 300
metres northeast of East Seel at the Far East Target.
East Seel and Gap Zone
Drilling
Hole S21-267 tested the northeast margin of the
East Seel deposit and ended within known East Seel mineralization.
The hole successfully expanded near surface mineralization on the
northeast margin of East Seel, returning 0.46% copper equivalent
over 305 metres including 0.57% copper equivalent over 106 metres
and 1.04% copper equivalent over 20 metres.
Holes S21-262 and 264 were collared on the west
side of the East Seel deposit and drilled toward the southwest
testing the Gap Zone. Both holes help to expand and define a zone
of near surface low grade mineralization at the Gap Zone, and a
larger zone of deeper mineralization that remains open at
depth.
Far East Target Drilling
Hole S21-269 was a 100 metre step out to the
northeast of the Far East Target and expanded a modest zone of near
surface mineralization located 100 to 300 metres northeast of the
East Seel deposit. Hole S21-269 successfully expanded the Far East
Target 100 metres to the northeast returning 90 metres grading
0.28% copper equivalent starting below gravel cover at 34 metres
depth.
A Media Snippet accompanying this announcement
is available by clicking on the image or link below:
Plan map of drill hole locations for 2021
Ootsa summer and fall drill program.
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) |
S21-262 |
40 |
64 |
24 |
0.30 |
0.14 |
0.08 |
0.026 |
0.9 |
S21-262 |
74 |
118 |
44 |
0.24 |
0.12 |
0.05 |
0.018 |
1.1 |
S21-262 |
392 |
406 |
14 |
0.33 |
0.15 |
0.14 |
0.012 |
1.0 |
S21-262 |
700 |
830 EOH |
130 |
0.49 |
0.26 |
0.19 |
0.012 |
2.2 |
including |
718 |
770 |
52 |
0.84 |
0.36 |
0.38 |
0.037 |
2.7 |
S21-264 |
74 |
104 |
30 |
0.20 |
0.11 |
0.09 |
0.003 |
0.7 |
S21-264 |
136 |
164 |
28 |
0.23 |
0.13 |
0.08 |
0.005 |
1.0 |
S21-264 |
210 |
296 |
86 |
0.21 |
0.08 |
0.04 |
0.027 |
0.7 |
S21-264 |
386 |
408 |
22 |
0.37 |
0.15 |
0.18 |
0.014 |
0.9 |
S21-264 |
448 |
744 EOH |
296 |
0.53 |
0.23 |
0.24 |
0.020 |
1.7 |
including |
492 |
558 |
66 |
0.75 |
0.30 |
0.40 |
0.023 |
1.7 |
S21-267 |
52 |
357 EOH |
305 |
0.46 |
0.21 |
0.26 |
0.001 |
1.2 |
including |
124 |
230 |
106 |
0.57 |
0.26 |
0.34 |
0.001 |
1.1 |
including |
286 |
306 |
20 |
1.04 |
0.50 |
0.59 |
0.000 |
2.8 |
S21-269 |
34 |
124 |
90 |
0.28 |
0.16 |
0.10 |
0.005 |
1.2 |
including |
48 |
66 |
18 |
0.38 |
0.23 |
0.14 |
0.004 |
1.0 |
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. 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). |
A Media Snippet accompanying this announcement is available by
clicking on the image or link below:
East Seel and Gap Zone section E-E’
showing results for holes S21-262, 264, and 267. See Figure 1 for
section location.
Ootsa 2021 Drilling Summary
The summer 2021 core drilling program at Ootsa
comprised a total of 26,556 metres of drilling in 72 holes. Thus
far, following this news release, results from 24 holes have been
released, with results from 48 additional holes pending. Results
from 45 holes focused on the shallow Breccia Zone located to the
north of the Seel deposits are pending, as are holes from select
regional exploration targets, and the bottom portion of hole
S21-268, which is the last remaining hole to be reported from West
Seel drilling.
Berg Exploration Program
Update
The 2021 core drilling program at the Berg
deposit area has been completed for the season and will resume next
summer. Nine core holes were completed at Berg for a total of 2,855
metres of drilling. All of the Berg drill core has been logged and
sampled and submitted to the lab for assay.
Upcoming Catalysts
The Company anticipates updating the market on
results from the following activities:
- Drill results from 48 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 is well financed with over C$10
million in the treasury.
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 & DevelopmentTelephone: +1
604 416 2978Email: info@surgecopper.comTwitter:
@SurgeCopperLinkedIn: Surge Copper
Corphttps://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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