TSX-V Trading Symbol: SURG
OTCQX: SRGXF
Frankfurt Trading Symbol: G6D2
VANCOUVER, BC,
March 17, 2022 /CNW/ -
Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt:
G6D2) ("Surge" or the "Company") is pleased to announce
complete assay results for 4 holes from the Berg Deposit located on
the Berg Property in British Columbia. The Company has a
right to earn a 70% interest in the Berg Property from Centerra
Gold. The Company completed 9 drill holes at Berg in 2021. Results
from the first 3 holes were released on March 8, 2022, and results from 2 additional
holes are pending.
Highlights
- Hole BRG21-237 intersected 132 metres grading 0.83%
copper equivalent from 34 metres downhole within the main
chalcocite blanket, followed by 71 metres grading 0.65%
copper equivalent from 184 metres downhole, with the hole
ending in mineralization
- Hole BRG21-238 intersected 144 metres grading 0.60%
copper equivalent from 24 metres downhole depth including
100 metres grading 0.74% copper equivalent associated
with chalcocite blanket
- Hole BRG21-239 intersected 223 metres grading 0.58%
copper equivalent from 20 metres downhole depth including 38
metres grading 0.89% copper equivalent associated with
chalcocite blanket, with the hole ending in mineralization
- Drilling on section A-A' defines a strongly mineralized zone on
the northeast side of the Berg deposit that is 400 metres
wide and up to 400 metres thick. This zone is capped by
a higher-grade near-surface chalcocite blanket 400 metres wide and
up to 125 metres thick
Drill holes BRG21-237 through 240 contained in this release were
all drilled in the northeastern portion of the Berg Deposit, and
complete the drilling from 2021 on the A-A' section. These holes
were designed to test the expansion potential of the near-surface
high-grade mineralization in this area, as well as to fill in data
gaps within areas of lower drill density and provide fresh material
for advanced metallurgical testwork.
Details of Holes BRG21-237 to 240
Assay results have been received for holes BRG21-237 to 240 all
located in the northeast part of the Berg deposits along cross
section A-A'. Hole BRG21-237 was angled toward the Berg Intrusion
and encountered leached cap from the start of bedrock to 34 metres
downhole. The chalcocite enrichment blanket was encountered from 34
to 166 metres downhole returning 132 metres grading 0.56% copper,
0.047% molybdenum, and 7.6 g/t silver (0.83% copper equivalent).
This was followed by 18 metres of weakly mineralized late porphyry
dike from 166 to 184 metres, then 71 metres grading 0.32% copper,
0.077% molybdenum, and 5.1 g/t silver (0.65% copper equivalent) to
the end of the hole at 255 metres.
Hole BRG21-238 was angled away from the Berg Intrusion and
encountered 18 metres of leached cap from 6 to 24 metres downhole.
The hole returned 144 metres grading 0.47% copper, 0.014%
molybdenum, and 5.1 g/t silver (0.60% copper equivalent) from 24 to
168 metres depth, including 100 metres of chalcocite blanket
grading 0.59% copper, 0.016% molybdenum, and 6.2 g/t silver (0.74%
copper equivalent) from 26 to 126 metres downhole.
BRG21-239 was a vertical hole that encountered leached cap from
6 to 20 metres depth followed by 223 metres grading 0.42% copper,
0.022% molybdenum, and 5.4 g/t silver (0.58% copper equivalent)
from 20 metres to the end of the hole at 243 metres depth.
The hole includes 114 metres grading 0.51% copper, 0.025%
molybdenum, and 5.7 g/t silver (0.68% copper equivalent) from 76 to
190 metres depth which partially incorporates the chalcocite
blanket.
BRG21-240 was angled away from the Berg Intrusion and tested the
far northeast side of the deposit where chalcocite blanket
development and hypogene copper and molybdenum grades decrease. The
hole defines the width of the mineralized zone on the northeast
side of the Berg Intrusion on section A-A' to be 400 metres. The
thickness of the mineralized zone increases toward the Berg central
intrusive stock where the zone is over 400 metres thick as shown on
section A-A' and likely entends considerably deeper along the
near-vertical contacts of the Berg Intrusion.
|
Summary of
Significant Assay Results for Berg Holes BRG21-237 to
240
|
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
CuEq
(%)2
|
Cu
(%)
|
Mo
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
Comments
|
|
BRG21-237
|
34
|
166
|
132
|
0.83
|
0.56
|
0.047
|
0.05
|
7.6
|
Chalcocite
blanket
|
|
BRG21-237
|
184
|
255 EOH
|
71
|
0.65
|
0.32
|
0.077
|
0.03
|
5.1
|
|
|
BRG21-238
|
24
|
168
|
144
|
0.60
|
0.47
|
0.014
|
0.04
|
5.1
|
|
|
including
|
26
|
126
|
100
|
0.74
|
0.59
|
0.016
|
0.05
|
6.2
|
Chalcocite
blanket
|
|
BRG21-239
|
20
|
243 EOH
|
223
|
0.58
|
0.42
|
0.022
|
0.04
|
5.4
|
|
|
including
|
76
|
190
|
114
|
0.68
|
0.51
|
0.025
|
0.05
|
5.7
|
|
|
including
|
76
|
114
|
38
|
0.89
|
0.67
|
0.032
|
0.05
|
8.2
|
Chalcocite
blanket
|
|
BRG21-240
|
14
|
96
|
82
|
0.29
|
0.22
|
0.006
|
0.03
|
3.1
|
Chalcocite
blanket
|
|
including
|
26
|
44
|
18
|
0.38
|
0.31
|
0.003
|
0.04
|
2.7
|
|
- Width refers to
drill hole intercepts; true widths have not been
determined.
- 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$3.50/lb copper, US$1,800/oz gold, US$12/lb molybdenum,
and US$22/oz silver, using the formula CuEq % = Cu % + (Au g/t x
0.750) + (Mo % x 3.43) + (Ag g/t x 0.0092).
|
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.
Upcoming Catalysts
The Company anticipates updating the market on results from the
following activities:
- Drill results from 2 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
- Results from the West Seel metallurgical testwork program
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.
