TSX-V Trading Symbol: SURG
Frankfurt Trading Symbol: G6D2
VANCOUVER, BC, May 10, 2021 /PRNewswire/ - Surge Copper Corp. (TSXV: SURG) (Frankfurt: G6D2) ("Surge" or the "Company") is pleased to announce additional assay results for multiple resource definition and exploration holes from the Company's 100% owned Ootsa Property in British Columbia.
- Hole S21-240 intersected 830 metres grading 0.38% copper equivalent1 including 170 metres grading 0.47% copper equivalent
- Holes S21-231 and 234 both hit high grade mineralization on the southeast side of West Seel including 0.70% copper equivalent over 62 metres and 0.62% copper equivalent over 86 metres
- Hole S21-239 intersected 190 metres grading 0.45% copper equivalent including 66 metres grading 0.65% copper equivalent
- Results from 8 additional holes are pending, including step out holes to the west, north, and the gap zone area between the Seel deposits
Dr. Shane Ebert, VP Exploration, commented: "This latest batch of holes are all step-outs testing the margins of the West Seel deposit and continue to significantly expand the size of the deposit and help define key structural controls. Hole S21-240, on the north side of the deposit, has returned an impressive interval of 830 metres of continuous mineralization grading 0.38% copper equivalent, along with higher grade zones. The holes on the southeast side of the deposit have also returned strong grades starting around 200 metres below surface with mineralization remaining open to the southeast. This southeast part of the West Seel deposit is an area where additional drilling has the potential to add significant tonnage to the deposit."
Holes S21-229 to 234, 239, and 240 – West Seel Deposit
Holes S21-229 to 234, 239, and 240 were all drilled at the West Seel deposit and all eight holes were targeted to help define the outer margins of the deposit. Significant results are summarized in the table below. Figure 1 shows the locations of the 2020-2021 drill holes and section references.
Figure 1. Plan map of drill hole locations for 2020-2021 Ootsa drill program.
Holes S21-231 and 234 were drilled on the southeast side of the West Seel deposit. Hole S21-231 was drilled at an azimuth of 315, a dip of -65 degrees, to a total depth of 807 metres and intersected 0.40% copper equivalent over 378 metres from 386 metres depth, including 0.70% copper equivalent over 62 metres from 434 metres depth. Hole S21-234 was drilled at an azimuth of 315, a dip of -65 degrees, to a total depth of 795 metres and intersected 0.44% copper equivalent over 202 metres from 206 metres depth, including 0.62% copper equivalent over 86 metres from 312 metres depth. The potential to expand higher grade to the southeast is highlighted on Figures 2 and 3.
Holes S21-230, 233, and 239 are located on the west side of West Seel and all three have extended the deposit at depth and to the west. Hole S21-230 was a vertical hole drilled to a depth of 888 metres. Hole S21-233 was drilled at an azimuth of 135, a dip of -75 degrees, to a total depth of 737.5 metres, and intersected 0.35% copper equivalent over 395.5 metres from 342 metres depth, including 0.48% copper equivalent over 148 metres from 474 metres depth. Hole S21-239 was drilled at an azimuth of 135, a dip of -75 degrees, and to a total depth of 746.5 metres. The hole intersected 0.45% copper equivalent over 190 metres from 354 metres depth, including 0.65% copper equivalent over 66 metres from 356 metres depth.
Hole S21-240 is located on the north side of the deposit and was drilled at an azimuth of 215, a dip of -51 degrees, and to a total depth of 1,240.5 metres. The hole intersected 0.38% copper equivalent over 830 metres from 248 metres depth, including 0.47% copper equivalent over 170 metres from 658 metres depth.
Summary of Assay Results for Selected Holes
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. 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).
Hole S21-229 was located on the northwest side of the deposit and was drilled toward the north at an angle of -50 degrees to a total depth of 798 metres. Hole S21-232 was located on the south side of the deposit and was drilled toward the southeast at an angle of -70 degrees to a total depth of 756 metres. Neither hole encountered significant mineralization and each help define the limit of mineralization in those areas.
Figure 2. West Seel Cross Section C-C' showing results for holes S21-228, 231, 233, and 239. See Figure 1 for section location.
Figure 3. West Seel Cross Section D-D' showing results for holes S21-230 and 234. See Figure 1 for section location.
Figure 4. West Seel long section B-B' showing results for holes S20-219, 220, 224, and 226, and S21-240. See Figure 1 for section location.
Drill Program Update
The fall 2020 to winter 2021 drilling program has been completed. During the program 20,028 metres was drilled in 27 holes and all holes have been logged, sampled, and submitted for assay. Assay results for 19 holes have been received and released and results for a further 8 holes are pending.
Drilling is scheduled to resume in late May to early June following spring breakup and snow melt in the area. Further details on the summer drill program will be provided in a subsequent release.
All drill core is logged, photographed, and cut in half with a diamond saw. Half of the core is bagged and sent to Activation Laboratories Ltd. 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 37 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.
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 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
Chief Executive Officer
For Further information, please contact:
Telephone: +1 604 416 2978 or +1 604 558 5847
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.
1) Copper equivalent ("CuEq") has been used to express the combined, gross in-situ content of copper, gold, molybdenum, and silver with no adjustments made for recovery. It is provided for illustrative purposes only and is calculated using the following pricing assumptions: US$3.00/lb copper, US$1,800/oz gold, US$10/lb molybdenum, and US$22/oz silver.
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SOURCE Surge Copper Corp.