Surge Copper Corp. (TSXV:
SURG) (OTCQX:
SRGXF) (Frankfurt:
G6D2) (“Surge” or the
“Company”) is pleased to announce complete assay results
for 7 holes from the Company’s 100% owned Ootsa Property in British
Columbia. Included are results from 3 holes testing exploration
targets and 4 holes from the eastern extension of the Seel Breccia
Zone where the Company identified potential to expand high-grade
breccia-style mineralization within an area of increasing glacial
cover. These are initial results from the first of a two-phase,
$6.5 million program which was designed to advance numerous
early-stage regional exploration targets within the 50-kilometre
Berg-Huckleberry-Ootsa porphyry copper belt through surface
reconnaissance exploration and target drill testing (see June 1 and
August 17, 2022 press releases for additional details).
Highlights
- High-grade breccia-style
mineralization has been encountered in holes S22-315 and 316
located 400 metres east of the Seel Breccia Zone, referred to as
the Seel Breccia East Zone
- Hole S22-315 intersected
64.6 metres grading
0.63% copper equivalent from
71.4 metres downhole depth,
including 18.6 metres grading
1.84% copper equivalent and
8.6 metres grading 3.34% copper equivalent
- Hole S22-316 was from the same
setup as S22-315 but at a steeper angle and intersected
40 metres grading
2.12% copper equivalent from 90
metres downhole depth, including 26
metres grading 3.06%
copper equivalent
- Breccia mineralization in holes
S21-315 and S21-316 contain higher gold
and zinc than breccia
mineralization at the Seel Breccia Zone, suggesting either metal
zonation along strike or overlapping breccia
events
- Hole S22-316 intersected a high Zn
low Cu breccia which returned 18 metres from 182
metres depth to the end of the hole grading 1.13% Zn, 0.54
g/t Au, 20.1 g/t Ag and 0.06% Cu
- Holes S21-315, 316, and S18-214
define a high-grade Cu-Ag-Au-Zn breccia 50 metres wide by
100 metres deep that overlies a much larger
zinc-rich breccia that
is 100 to 150 metres wide and over 200
metres deep and open up and down dip
- 2022 program totalled 15,300 metres
of diamond drilling across 38 holes testing 9 distinct target
areas, plus over 4,000 soil and 500 rock samples and 24 induced
polarization (IP) geophysical lines completed across multiple
target areas
Assay results have also been received for
exploration holes OxW22-05, OxW22-06, and H22-01, which tested
geophysical targets west and south of the Ox deposit, and for holes
S22-315 to 318 which tested the Seel Breccia Zone and its immediate
eastward extension. Significant results are summarized in the table
below. Select hole locations and orientations are shown on the
drill hole map and are illustrated on the cross-section below.
Seel Breccia East
Zone
Surge has drilled 21 holes in 2022 to test for
high-grade breccia-style mineralization within a 600 metre long
zone extending from the Seel Breccia to the Seel Breccia East area.
Assay results for 4 of these 21 holes have been received and are
presented here. Copper equivalent figures exclude zinc and lead
(see footnotes in the table below).
Holes S22-315 and 316 are located 400 metres
east of the Seel Breccia Zone and were drilled from the same drill
pad at different angles. Both holes hit significant intervals of
high-grade breccia-style mineralization. Hole S22-315 intersected
64.6 metres grading 0.24% copper, 22.7 g/t silver, 0.17 g/t gold,
0.67% zinc, and 0.29% lead (0.63% copper equivalent) from 71.4
metres downhole, including 18.6 metres grading 0.75% copper 61.2
g/t silver, 0.49 g/t gold, 1.17% zinc, and 0.58% lead (1.84% copper
equivalent) and 8.6 metres grading 1.55% copper, 113.3 g/t silver,
0.66 g/t gold, 1.31% zinc, and 0.82% lead (3.34% copper
equivalent). Hole S22-315 also encountered a wide zone of zinc
mineralization at the bottom of the hole returning 71 metres
grading 0.47% zinc.
Hole S22-316 intersected 40 metres grading 1.51%
copper, 38.6 g/t silver, 0.23 g/t gold, and 0.24% zinc (2.12%
copper equivalent) from 90 metres downhole, including 26 metres
grading 2.20% copper 55.8 g/t silver, 0.30 g/t gold, and 0.23% zinc
(3.06% copper equivalent). Hole S22-316 also intersected a zinc and
gold enriched zone at the bottom of the hole returning 1.13% zinc,
0.54 g/t gold, and 20.1 g/t silver (0.75% copper equivalent) from
182 metres downhole.
Summary of Assay Results for Selected Holes |
Drill Hole |
From (m) |
To (m) |
Width (m)1 |
Cu Eq. %2 |
Cu % |
Au g/t |
Ag g/t |
Zn % |
Pb % |
S22-315 |
71.4 |
136 |
64.6 |
0.63 |
0.24 |
0.17 |
22.7 |
0.67 |
0.29 |
including |
71.4 |
90 |
18.6 |
1.84 |
0.75 |
0.49 |
61.2 |
1.17 |
0.58 |
including |
71.4 |
80 |
8.6 |
3.34 |
1.55 |
0.66 |
113.3 |
1.31 |
0.82 |
S22-315 |
154 |
225 EOH |
71 |
0.07 |
0.02 |
0.02 |
3.1 |
0.47 |
0.01 |
S22-316 |
90 |
130 |
40 |
2.12 |
1.51 |
0.23 |
38.6 |
0.24 |
0.03 |
including |
92 |
118 |
26 |
3.06 |
2.20 |
0.30 |
55.8 |
0.23 |
0.03 |
S22-316 |
160 |
200 |
40 |
0.45 |
0.06 |
0.27 |
14.9 |
0.90 |
0.32 |
including |
182 |
200 EOH |
18 |
0.75 |
0.06 |
0.54 |
20.1 |
1.13 |
0.45 |
S22-317 |
154 |
176 |
22 |
0.15 |
0.10 |
0.04 |
0.5 |
0.01 |
0.00 |
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). Zinc and lead have not
been included in copper equivalents. |
The high grades encountered highlight the
potential to build high-grade scalable tonnage in the area directly
adjacent to known resource pit shells. The high-grade
copper-silver-gold-zinc breccia on the section is approximately 50
metres wide by 100 metres deep and overlies a larger zone of
zinc-rich breccia mineralization that is 100 to 150 metres wide and
200 metres deep and open both up and down dip. The zones are
overlain by approximately 50 to 60 metres of glacial cover, and
future studies will define the extent to which adjacent mining will
allow for prestripping of such material. Breccia-style
mineralization is truncated on the northwest side by a large,
altered pyrite-bearing quartz porphyry. The large intervals of zinc
mineralization identified in the zone could provide future
upside.
Holes S22-317 and 318 were drilled on the
northeast side of the main Seel Breccia Zone and did not return
significant intervals of mineralization.
Figure
1. Seel
Breccia East showing 2022 drill holes.
Figure 2. Seel
Breccia East NW – SE cross-section showing results for
holes S22-315 and 316. See Figure
1 for section location.
West Ox and Midway Exploration
Targets
Holes OxW22-05, OxW22-06, and H22-01 tested the
West Ox and Midway targets defined by large ZTEM conductors with
overlapping induced polarization chargeability anomalies. These
holes did not intersect significant zones of mineralization and
both the West Ox and Midway geophysical anomalies are attributed to
graphite-bearing sedimentary rocks of the Smithers Formation.
Ootsa &
Berg 2022 Exploration Program
Summary
During the two-phase field exploration program
in 2022, Surge completed 38 holes for 15,300 metres of drilling
across the Ootsa and Berg Properties and drilling is now complete
for the season. In total, 28 holes were drilled on the Ootsa
Property and 10 holes on the Berg Property. The first phase of the
program was focused on testing exploration targets proximal to the
Seel and Ox deposits on the Ootsa Property, with a total of 21
holes targeting the Seel Breccia Zone East area, and the remaining
17 holes testing 8 exploration targets, including the West Ox,
Midway, Blackjack, East Blackjack, and Placer North targets.
As announced on August 17, 2022, the Company
received a new 5-year area-based exploration permit covering the
Berg Property and several contiguous 100% owned properties in the
northern part of the district. This new permit allows for
year-round exploration in low-elevation portions of the permit
area. Upon award of this permit, the Company constructed its third
exploration camp in the area, near the Sibola target, which has
served as the base for drilling activities during the second phase
of the program. The second phase of the program focused on testing
regional targets within this newly permitted area, and initial
tests have thus far been completed on the Sibola and Bergette
targets, with a partial test completed on the Sylvia target. Due to
the timing of the start of the second phase of the program, certain
priority targets remain untested at this time, and will be
prioritized for testing during the next field program.
During both phases of the program, over 4,000
soil samples and 500 rock samples have been taken, and 24 induced
polarization (IP) geophysical lines have been completed including 4
lines over 3 targets on the Ootsa Property and 20 lines over the
Bergette, Sylvia, Fire, NE, and Sibola targets on the Berg
Property. In addition, widespread prospecting and mapping over
multiple target areas have advanced known targets and generated new
ones across the combined Ootsa-Berg project area. Preliminary IP
results have been used for drill hole targeting, with final IP
results pending. Further details of exploration targets will be
presented after field data is compiled and assay results
received.
Assay results for the remaining 31 drill holes
from the 2022 program are pending.
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
Actlabs 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 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, Indicated,
and Inferred 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 three 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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