- Oops!Something went wrong.Please try again later.
VANCOUVER, BC, June 1, 2022 /CNW/ - Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) ("Surge" or the "Company") is pleased to announce the commencement of its 2022 exploration field program which will focus on testing a number of high-priority regional exploration targets across the Ootsa-Berg district.
Six priority targets are planned for reconnaissance screening and drill testing, including four in the northern Berg area and two in the southern Ootsa area
Ten additional targets will be screened and prospected, providing additional optionality and flexibility as the season progresses
Fully funded exploration budget of approximately C$6.5 million, which will include up to 22,000 metres of diamond drilling and large programs of ground based geophysics, soil surveying, and mapping
Targets are supported by a range of historical datasets and newly acquired deep penetrating ZTEM resistivity data
Leif Nilsson, Chief Executive Officer, commented: "We are very excited to be kicking off the fully-funded 2022 field program. The prospectivity of this district is well established, and we have a large pipeline of compelling exploration targets with limited to no exploration history. Most of these targets are located in areas with simple access and close to infrastructure, so it promises to be a productive field season."
Dr. Shane Ebert, President and VP Exploration, commented: "Surge has assembled an impressive list of exploration targets across the Ootsa-Berg district and the 2022 exploration program is designed to evaluate and conduct initial drill testing on as many targets as possible. Our targets include several advanced targets that have sufficient prior exploration to support drill testing, targets with positive exploration data on their peripheries that require additional work prior to finalizing drill locations, and new targets recently identified by ZTEM that occur in flat covered areas that have not been explored previously. We have assembled a diverse, team of experienced field personnel that are excited to systematically evaluate and test the potential for new discovery in this district."
Details and Timing
The Company's exploration program has been divided into two phases, with the first phase being based out of the Ootsa exploration camp. During this phase, two high priority targets called West Ox and Midway, which are located adjacent to the Seel and Ox deposits, will be drill tested. Simultaneously, multiple field teams will be screening and prospecting several other porphyry-style targets in both the Ootsa and Berg areas to prepare for drilling later in the season. High grade breccia-style targets up to 500 metres east of the Seel Breccia zone are also being evaluated for possible drill testing. The second phase of exploration is subject to receipt of final permit approvals at Berg and will include installation of a new camp facility in a low elevation area within the Berg Property to support targeted drilling campaigns later in the year. Targets at Berg which are slated to be drill tested, subject to final screening and permitting, are Bergette, Sibola, Fire, and the new NE Target, which occurs in a covered area and has no prior history of exploration. Exploration target maps and figures for the Berg and Ootsa regions are shown below in Figures 1-4, highlighting ZTEM resistivity signatures, known mineralization, and copper-in-soil anomalies. Additional details on selected exploration targets, including maps and sections, will be provided on the Company's website. The Company's current cash position is approximately C$8 million.
The Company anticipates updating the market on results from the following activities:
Resource update for the Ootsa project
Results from the West Seel metallurgical testwork program
Exploration updates throughout the 2022 field program
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. The survey data and data quality have been prepared, processed, and validated by experienced professionals at Geotech Ltd.
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:
Riley Trimble, Corporate Communications & Development
Telephone: +1 604 416 2978
LinkedIn: Surge Copper Corp
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/surge-copper-commences-2022-exploration-program-testing-multiple-new-targets-across-ootsa-berg-district-301558598.html
SOURCE Surge Copper Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/01/c5244.html