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Surge Copper Corp
Symbol SURG
Shares Issued 133,192,134
Close 2021-04-07 C$ 0.43
Recent Sedar Documents

Surge Copper to acquire claims at Berg, Ootsa

2021-04-07 07:33 ET - News Release

Mr. Leif Nilsson reports

SURGE COPPER ACQUIRES STRATEGIC LAND POSITION AT BERG PROJECT

Surge Copper Corp. has executed definitive asset purchase agreements with two vendors to acquire a 100-per-cent interest in certain mineral claims in the eastern portion of the Berg property and southern portion of the Ootsa property. The acquisition of these claims consolidates Surge's ownership of the Bergette prospect area, which is the most advanced regional exploration target on the Berg property outside of the Berg deposit.

The Bergette target area is situated approximately 10 kilometres east of the Berg deposit. Prior exploration work has outlined a two-kilometre-by-two-kilometre copper-in-soil anomaly straddling the interior margins of an intrusive magnetic anomaly that remains open to the east. Historical shallow drilling in the southwestern and northwestern corners of the soil anomaly intercepted porphyry mineralization, including 0.29 per cent copper, 0.011 per cent molybdenum and 0.6 gram per tonne silver over 70 metres and 0.32 per cent Cu and 0.010 per cent Mo over 64 metres with both potassic alteration and grades appearing to increase with depth. An AeroTEM survey completed over the area in 2010 also shows an EM (electromagnetic) geophysical anomaly comparable in magnitude and scale with the signature over the Berg deposit area.

The company is planning a surface exploration program at Bergette starting mid-July of this year that will focus on extending and fully defining the large copper-in-soil anomaly, complete surface mapping and rock sampling, and potentially look to complete a ground-based induced polarization geophysical survey over the entire target area.

Under the terms of the asset purchase agreements, Surge will issue to two vendors a total of 850,000 common shares and register separate net smelter return royalties on the claims, each subject to certain buyback rights. The terms of the agreements and issuance of Surge shares are subject to TSX Venture Exchange approval. The shares issued will be subject to a statutory four-month hold period.

Qualified person

Dr. Shane Ebert, PGeo, 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-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.

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