Surge Copper Corp. (TSXV:
SURG) (OTCQX:
SRGXF) (Frankfurt:
G6D2) (“Surge” or the “Company”)
is pleased to announce complete assay results for hole S21-268 from
the Company’s 100% owned Ootsa Property in British Columbia, and an
update on the Company’s ongoing resource update for the Ootsa
Property. The Company previously released the results for the top
portion of hole S21-268 (see October 12, 2021 Press Release).
Highlights
- Hole S21-268 intersected
422 metres grading 0.52% copper
equivalent from 20 metres downhole depth, including
200 metres grading 0.60% copper
equivalent
- This includes a zone of higher
grade mineralization returning 0.69% copper
equivalent over 76 metres from 324 metres
depth
Complete assay results have been received for
hole S21-268 with significant results summarized in the table below
(including the previously reported top portion of the hole). Hole
S21-268 was collared toward the southern end of the approximately
500 metre zone where mineralization at West Seel comes to bedrock
surface, and intercepted a broad zone of strong continuous
mineralization. A drill hole plan map and cross section are
included below.
Exploration hole S21-271 tested a chargeability
high located to the south of the West Seel deposit and encountered
a pyrite halo with no significant intervals of mineralization.
These are the final results from the infill and expansion drilling
program targeting the main East and West Seel porphyry deposits at
the Ootsa Property which will be used to conduct an updated
resource estimate for the Ootsa Property. Thus far, following this
news release, results from 26 holes from the Company’s 2021 Ootsa
summer drilling program have been released, with results pending
from 46 additional holes testing exploration targets in the near
vicinity of the Seel and Ox deposits, including the Seel Breccia
Zone. An additional nine core holes are also pending from the
Company’s 2021 Berg drill program.
A Media Snippet accompanying this announcement
is available by clicking on the image or link below:
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) |
S21-268 |
20 |
442 |
422 |
0.52 |
0.26 |
0.17 |
0.015 |
5.4 |
including |
226 |
426 |
200 |
0.60 |
0.32 |
0.20 |
0.016 |
5.3 |
including |
324 |
400 |
76 |
0.69 |
0.37 |
0.23 |
0.019 |
5.5 |
S21-268* |
20 |
290 |
270 |
0.47 |
0.24 |
0.14 |
0.014 |
5.5 |
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 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). |
* |
Previously reported on October 12, 2021. |
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A Media Snippet accompanying this announcement
is available by clicking on the image or link below:
Resource Estimate Update
The Company has engaged Advantage Geoservices
Limited to conduct a mineral resource estimate in accordance with
National Instrument 43-101. The resource estimate will include the
East Seel, West Seel, and Ox porphyry deposits, and will include
all relevant resource drilling completed during the 2018, 2020, and
2021 core drilling programs. The estimation process is well
underway, and the Company will provide further updates as the
process is nearing completion.
Upcoming Catalysts and Marketing
Events
The Company anticipates updating the market on
results from the following activities:
- Drill results from 46 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 London, December
1-2
- Vancouver Resource Investment
Conference (VRIC), January 16-17
- AME Roundup, January 31 – February
3
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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