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Surge Copper Corp
Symbol SURG
Shares Issued 141,616,580
Close 2021-10-08 C$ 0.345
Recent Sedar Documents

Surge Copper drills 495 m of 0.54% CuEq at Ootsa

2021-10-12 07:19 ET - News Release

Mr. Leif Nilsson reports

SURGE COPPER INTERSECTS 495 METRES OF 0.54% CUEQ INCLUDING 126 METRES OF 0.85% CUEQ AT WEST SEEL AND PREVIEWS UPCOMING NEWS FLOW

Surge Copper Corp. has released assay results for multiple resource definition holes from the company's 100-per-cent-owned Ootsa property in British Columbia and has provided an update on the company's continuing activities and near-term news flow. The 2021 core drilling program at Ootsa has ended with 26,556 metres of drilling in 72 holes completed since June, 2021. Thus far, following this news release, results from 20 holes have been released, with results from 52 additional holes pending including:

  • 1,934 metres in three holes from resource drilling within the Seel deposit area;
  • 9,054 metres in 45 holes from the Seel breccia zone located north of the Seel deposits;
  • 2,319 metres in four holes from regional exploration targets within the Ox and Seel trends.

An updated resource estimate for the Ootsa property is in progress, and regional exploration target evaluation and data compilation will be continuing over the winter with selective drill testing as warranted. The company is also actively drilling at the Berg deposit, with further updates on this program to follow.

Leif Nilsson, chief executive officer, commented: "This is the second batch of results we are releasing from a multiproject summer program, which has been one of the busiest in the company's history. The results continue to demonstrate the potential to expand the West Seel deposit and to improve grade within existing volumes. Furthermore, the recent drilling at the Seel breccia zone, for which assays are still pending, underscores the excellent exploration potential in this area. A major focus in the coming months will be on advancing our pipeline of regional exploration targets throughout the district."

East and West Seel highlights:

  • Hole S21-266 intersected 495 metres grading 0.54 per cent copper equivalent, including 355 metres grading 0.62 per cent copper equivalent and 126 metres grading 0.85 per cent copper equivalent.
  • Hole S21-261 intersected 276 metres grading 0.40 per cent copper equivalent, including 64 metres grading 0.53 per cent copper equivalent.
  • Hole S21-256 intersected 244 metres grading 0.49 per cent copper equivalent, including 116 metres grading 0.58 per cent copper equivalent.
  • Partial assays for the upper portion of hole S21-268 intersected 270 metres grading 0.47 per cent copper equivalent from 20 metres to 290 m depth with assays pending for the bottom portion of the hole.
  • Multiple higher-grade gold intercepts have been encountered in drilling including 9.3 g/t gold over two metres within a zone grading 1.5 g/t gold over 20 metres, highlighting the precious metal potential within and proximal to the main porphyry deposit centres.
  • A new resource estimate for the Ootsa property is expected by year-end, incorporating approximately 30,000 metres of new core drilling, which has consistently encountered broad, continuous zones of mineralization within and outside of the 2016 resource constraining pit.

Seel breccia zone and other exploration highlights:

  • Recent drilling at the Seel breccia zone, located 200 metres north of the East Seel deposit, has traced for over 200 metres along strike a zone, which is 20 to 60 metres wide and extends to depths up to 150 metres.
  • On the Berg property, nine drill holes have been completed to date as part of the 2021 core drilling program at the Berg deposit area.
  • Final inversion and targeting results from regional ZTEM airborne geophysics are nearing completion.

East and West Seel drilling details

Holes S21-256, 265, 266 and 268 are infill holes at West Seel and all encountered long intervals of continuous mineralization that will help define grade within those volumes. Hole S21-265 intersected 402 metres grading 0.50 per cent copper equivalent. Hole S21-266 intersected 495 metres grading 0.54 per cent copper equivalent including significant zones with higher grades. Hole S21-268 intersected 270 metres grading 0.47 per cent copper equivalent starting at 20 m depth and will extend the zone of near-surface West Seel mineralization to the southeast. Assays are pending for the bottom portion of the hole. Holes S21-259, 260, 261 and 263 were all drilled on the edges of the West Seel system and all encountered significant mineralization that will help expand the known extents of the West Seel deposit.

Hole S21-258 tested a regional target located 0.6 kilometre southeast of the Seel deposits and intersected a precious metal vein that returned 4.75 g/t gold and 69.7 g/t silver over one metre. Hole S21-257 tested the south edge of East Seel and did not encounter significant mineralization. The remaining holes in this release are stepout or infill holes designed to expand or constrain West Seel mineralization.

                         SUMMARY OF ASSAY RESULTS FOR SELECTED HOLES 
                
Drill hole       From        To    Width (1)    CuEq (2)       Cu       Au          Mo        Ag
                  (m)       (m)          (m)         (%)      (%)    (g/t)         (%)     (g/t)

S21-256           244       312           68        0.20     0.12     0.06       0.005       1.7
S21-256           314       558          244        0.49     0.17     0.23       0.030       2.1
including         388       504          116        0.58     0.19     0.26       0.041       2.2
S21-256           590       610           20        1.42     0.08     1.46       0.013       1.2
including         606       608            2        8.33     0.13     9.25       0.023       3.0
S21-258           755       756            1        5.08     0.18     4.75       0.000      69.7
S21-259            66       192          126        0.21     0.13     0.03       0.007       3.0
S21-259           198       199            1        4.23     0.17     4.44       0.016      11.4
S21-259           350       392           42        0.32     0.12     0.17       0.007       1.9
S21-260           142       172           30        0.25     0.12     0.11       0.009       0.6
S21-260           248       300           52        0.37     0.16     0.16       0.018       0.7
S21-261            34        68           34        0.29     0.15     0.08       0.007       4.2
S21-261           104       380          276        0.40     0.20     0.11       0.021       2.8
including         142       174           32        0.48     0.23     0.15       0.021       4.6
including         310       374           64        0.53     0.28     0.12       0.034       2.7
S21-263           190       818          628        0.28     0.16     0.06       0.014       2.5
including         308       376           68        0.47     0.25     0.08       0.028       5.2
S21-265           342   744 EOH          402        0.50     0.25     0.16       0.025       2.7
including         342       480          138        0.55     0.23     0.23       0.027       3.1
S21-266           198   693 EOH          495        0.54     0.25     0.21       0.021       3.4
including         388   693 EOH          355        0.62     0.28     0.25       0.026       3.3
including         382       508          126        0.85     0.34     0.39       0.034       4.6
S21-268            20      290*          270        0.47     0.24     0.14       0.014       5.5
including         218      290*           72        0.54     0.29     0.18       0.013       5.5

(1) Width refers to drill hole intercepts; true widths have not been 
determined. EOH means end of hole.
(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 $3 (U.S.)/pound 
copper, $1,800 (U.S.)/ounce gold, $10 (U.S.)/lb molybdenum and $22 (U.S.)/oz 
silver, using the formula CuEq per cent equals Cu per cent plus (Au g/t 
times 0.875) plus (Mo per cent times 3.33) plus (Ag g/t times 0.0107).
* Assays are pending for the bottom portion of hole S21-268 below 290 
metres.
 

Combined with the approximately 20,000 metres drilled during the 2020/2021 winter drill program, a total of approximately 30,000 metres of new core drilling have been completed within the Seel deposit area. This compares with the approximately 100,000 metres comprising the drill hole database used for the most recent resource estimate. Drilling during the 2020/2021 drill programs has consistently encountered broad, continuous zones of mineralization within and outside of the 2016 resource constraining pit.

Seel breccia zone and Berg drilling details

The company has recently completed 9,054 metres in 45 holes at the Seel breccia zone, located approximately 200 metres north of the East Seel deposit. This drilling has focused on delineating a zone of breccia-style mineralization that comes to surface, has been traced for over 200 metres along strike, is 20 to 60 metres wide and extends to depths up to 150 metres below surface. Halos of lower-grade mineralization locally surround the high-grade breccia cores. The recent drill testing was designed to confirm continuity and grade and define the extents of the zone to allow this potential high-grade resource to be included in the next resource estimate. This breccia is known to contain high-grade mineralization highlighted by hole S06-42, which intercepted 138 metres grading 0.84 per cent copper and 22.1 g/t silver from 22 m depth (previously released).

The 2021 core drilling program at the Berg deposit area is expected to conclude shortly with a total of 2,858 metres of drilling in nine holes completed to date. The drilling has confirmed the existing resource model and consistently intersected the chalcocite blanket.

Coming catalysts and marketing events

The company anticipates updating the market on results from the following activities:

  • Drill results from 52 remaining drill holes from 2021 Ootsa drill program;
  • Drill results from nine drill holes from 2021 Berg drill program;
  • Resource update for the Ootsa project;
  • Inversion and targeting results from regional airborne geophysics and update on regional exploration pipeline.

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 ALS in Kamloops, B.C., for analysis (which is International Organization for Standardization/International Electrotechnical Commission 17025 accredited), while the other half is archived and stored on site for verification and reference purposes. Gold is assayed using a 30 g fire assay method and 33 additional elements are analyzed by induced coupled plasma (ICP) utilizing a four-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, 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 NI 43-101-compliant resources of copper, gold, molybdenum and silver in the measured and indicated categories.

We seek Safe Harbor.

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