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Surge Exploration Inc
Symbol C : SUR
Shares Issued 82,864,260
Close 2019-09-09 C$ 0.08
Recent Sedar Documents

Surge Exploration acquires Au-Cu claims near Trapper

2019-09-09 09:11 ET - News Release

Mr. Tim Fernback reports

SURGE ACQUIRES ADDITIONAL GOLD-COPPER MINERAL CLAIMS IN THE GOLDEN TRIANGLE ADDING TO ITS SIZABLE LAND POSITION IN BRITISH COLUMBIA

Surge Exploration Inc. has recently acquired a 100-per-cent interest in additional gold-copper mineral claims adjoining its Trapper Lake property in northern British Columbia near the Golden Bear mine, a 480,000-ounce-gold past producer, currently owned by Newmont Goldcorp Corp. It should be noted that results from nearby and/or adjacent properties are not necessarily indicative or reflective of mineralization that may be hosted on the company's property.

Subject to the terms and conditions of the resultant purchase and sale agreement dated Sept. 5, 2019, for the new mineral claims, Surge agrees to make a cash payment to the vendor in the amount of $17,400 and issuing 500,000 fully paid and non-assessable common shares in the capital of the company. The transaction is subject to TSX Venture Exchange approval.

All shares issued are subject to a four-month-and-one-day hold period in accordance with applicable securities laws.

The mineral claims owned by Surge are also partly adjoining the Thorn project currently owned by Brixton Metals Corp., located in the Sutlahine River area of northwestern British Columbia (northern tip of the Golden Triangle). At the Thorn project, Brixton reported on July 15, 2019, a new drill hole intercept of 1.97 grams per tonne (g/t) gold equivalent across 554.70 metres (m), including 135.96 m of 1.35 g/t gold (Au), 0.31 per cent copper (Cu), 133.62 g/t silver (Ag) or five g/t Au, including six m of 3.56 per cent Cu, 3.37 g/t Au and 257.77 g/t Ag. Again, results from nearby and/or adjacent properties are not necessarily indicative or reflective of mineralization that may be hosted on the company's property.

Surges's land acquisition complements its previously announced 220-square-kilometre mineral claim staking program Golden Triangle, reiterating the company's commitment to region. These new claims have been acquired to provide additional exploration potential within British Columbia's Golden Triangle, a regionally important geological and structural trend in Canada. A large portion of the new property is adjoining both the Thorn project and the boundaries of the Golden Bear mine.

In Brixton's news release dated Aug 27, 2019, the company reported that it has commenced a phase 2 exploration program at its Thorn project comprising approximately 7,000 to 10,000 metres of HQ and NQ size core drilling with two drills on two distinct porphyry targets within the Camp Creek copper corridor and the Chivas zone . In this news release, Brixton also confirmed that it has recently staked an additional 862 square kilometres of new mineral claims adjoining the Surge exploration mineral claims for a new total mineral claim area of 1,858 square kilometres of wholly owned tenure in the area.

Tim Fernback, Surge's chief executive officer, states: "To put this in perspective, the total area explored by Surge is approximately equal to 95 times the size of New York's famous Central Park or five and a half times the size of the entire island of Manhattan. With Brixton Metals announcing on Aug. 8, 2019, that renowned gold mining investor, Mr. Eric Sprott, through 2176423 Ontario Ltd. (a corporation which is beneficially owned by him), acquired 22.25 million units for total consideration of $4,005,000 of its recently completed $7.7-million private placement, this area appears to be quite active for gold exploration. It is notable that following the completion of the August, 2019, private placement, Mr. Sprott's holdings, including previously held shares, will represent 18.25 per cent of the issued and outstanding common shares of Brixton Metals, on a non-diluted basis.

"This area has already generated several promising projects and is the subject of significant interest and exploration expenditure in 2019 with recent discoveries by Brixton Metals, Stuhini Exploration, Dunnedin Ventures, Garibaldi Resources and IMGM International Mining Canada. Furthermore, this region is host to numerous operating mines, good infrastructure, including experienced exploration, and supporting services. Our exploration team believes that this land package is strategically situated to exploit the high gold and copper values of the region."

About the property

The company owns 100-per-cent interest in the Golden Triangle-Trapper Lake group of 23 mineral claims which are located in the prolific Golden Triangle region of northwestern British Columbia approximately 90 kilometres east-northeast from Juneau, Alaska. Surges's staking program acquired an area of approximately 325 square kilometres within the regionally important geological and structural trend. A large portion of the new property is adjacent to the Thorn project owned by Brixton, with the balance covering prospective open ground containing numerous British Columbia Minfile showings with Cu, Ag and Au values adjoining the boundaries of Newmont Goldcorp's Golden Bear mine, a 480,000-ounce-gold past producer.

In Brixton's news release dated July 15, 2019, it reported results from drill hole THN19-150, which was drilled to 829.06 metres depth at the Oban diatreme breccia pipe within the Camp Creek copper corridor. Brixton reported a drill hole intercept of 1.97 g/t gold equivalent across 554.70 m, including 135.96 m of 1.35 g/t Au, 0.31 per cent Cu, 133.62 g/t Ag or 5.00 g/t gold equivalent, including six m of 3.56 per cent Cu, 3.37 g/t Au and 257.77 g/t Ag. Structural mapping and soil-rock geochemistry at the Chivas zone and relogging of select core from the Glenfiddich zone were also conducted as part of the overall exploration program at the Thorn project.

About Surge Exploration Inc.

Surge is a Canadian-based mineral exploration company which has been active in the resource sector in British Columbia and elsewhere in Canada.

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