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Surge Copper Corp
Symbol SURG
Shares Issued 89,637,581
Close 2021-01-11 C$ 0.60
Recent Sedar Documents

Surge Copper resumes drilling at Ootsa

2021-01-11 11:55 ET - News Release

Mr. Leif Nilsson reports

SURGE COPPER RESUMES DRILLING AT OOTSA AND EXPANDS DRILL PROGRAM

Drilling has resumed at Surge Copper Corp.'s 100-per-cent-owned Ootsa project in British Columbia after a planned holiday break and a minimum 5,000 metres of additional drilling has been added to the winter program for a total of at least 15,000 metres. Surge remains well financed with approximately $6.3-million in the treasury.

Highlights:

  • The current drill program at Ootsa has been expanded by a minimum of 5,000 metres, with additional drilling to focus on expanding resources at the West Seel deposit, where recent results from hole S20-219 delivered the longest continuously mineralized hole in the history of the Ootsa project, intersecting 0.42 per cent copper equivalent (CuEq) over 1,013 metres from bedrock surface, ending in mineralization, and including 0.60 per cent CuEq over 422 metres.
  • Assays are pending on six completed holes, plus the bottom portion of hole S20-218 which targeted a chargeability anomaly in the footwall of the east fault adjacent to the East Seel deposit.
  • Permitting procedures initiated for access and infrastructure upgrade work on the Berg project in advance of Surge's maiden exploration program to commence later in 2021.

Leif Nilsson, chief executive officer, commented: "Exploration activity at the Ootsa project was reactivated in October, 2020, with an initial 10,000-metre program designed to both expand the limits of known resources and to test multiple new geophysical targets along the Seel trend. Given the quality of the initial results, we are excited to now be expanding this investment program and eagerly await additional results on target drilling."

Ootsa exploration program update

There are currently two drills operating at the Ootsa project focused on expanding the large copper-gold-molybdenum-silver resource at the West Seel deposit and testing exploration targets along the Seel trend. The current drill program commenced in October, 2020, and, to date, 7,750 metres of core has been drilled with eight holes completed and two additional holes in progress. All drill core has been logged, sampled and sent for assay. Assay results for the top of hole S20-218 and the entire hole S20-219 have been received and released (see news releases dated Nov. 26, 2020, and Dec. 14, 2020). The results for all other holes are pending.

Key results received to date:

  • Hole S20-218 was drilled at the East Seel deposit and returned 176.1 metres grading 0.72 per cent copper equivalent (0.35 per cent copper, 0.4 gram per tonne (g/t) gold and 1.7 g/t silver).
  • Hole S20-219 was drilled at the West Seel deposit and returned 422 metres grading 0.60 per cent copper equivalent (0.25 per cent copper, 0.20 g/t gold, 0.042 per cent molybdenum and 3.3 g/t silver) within 1,013 metres grading 0.42 per cent copper equivalent (0.20 per cent copper, 0.13 g/t gold, 0.025 per cent molybdenum and 2.9 g/t silver).

Based on the strong drilling results to date, the company has expanded the original 10,000-metre drill program at Ootsa to a minimum of 15,000 metres to allow the company to drill through the winter and conduct sufficient drilling to define the extent of the large West Seel deposit. The budget for the additional 5,000 metres is expected to be less than $1-million.

Berg project update

The company is preparing reports and seeking final permissions to allow rehabilitation of the historic access road to the Berg deposit area. Pending approval, work on the road is anticipated to begin in July, followed by a drilling program focused on defining and expanding the high-grade, near-surface copper zones at Berg. Additional geophysics may be planned after further review of historical information and could be integrated with a regional program covering both Ootsa and Berg.

Qualified person

Dr. Shane Ebert, professional geoscientist, is the qualified person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.

About Surge Copper Corp.

Surge owns a 100-per-cent 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 National Instrument 43-101-compliant resources of copper, gold, molybdenum and silver in the measured and indicated categories. There are two drills working at the project with drilling focused on defining the extent of the large West Seel deposit and testing new targets along the Seel trend.

The company is also earning into a 70-per-cent interest in the Berg property from Centerra Gold. Berg is a large, advanced-stage exploration project located 28 kilometres (km) northwest of the Ootsa deposits. Berg contains a large copper-molybdenum-silver mineralized zone with historical resources. 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.

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