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TSX-V Trading Symbol: SURG
Frankfurt Trading Symbol: G6D2
VANCOUVER, BC, Sept. 7, 2021 /CNW/ - Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) ("Surge" or the "Company") is pleased to announce assay results for multiple resource definition holes from the Company's 100% owned Ootsa Property in British Columbia.
Hole S21-250 intersected 364 metres grading 0.56% copper equivalent including 194 metres grading 0.76% copper equivalent
Hole S21-254 intersected 161 metres grading 0.37% copper equivalent including 52 metres grading 0.59% copper equivalent
Recent drilling north of the Seel deposits has significantly extended a zone of breccia style mineralization at the Seel Breccia Zone, and the Company is currently evaluating the potential to expand high-grade near surface mineralization in this area
The Company currently has two drills working at the Ootsa Property focused on stepping out and constraining the extent of known mineralization at the East and West Seel deposits and surrounding area. Figure 1 provides a drill hole location map and includes a summary of the orientation and total depth of each hole in this release.
Leif Nilsson, Chief Executive Officer, commented: "We have had a very busy summer field season and are excited to see results come in as we continue to push out the extents of the main mineralized zones at Seel and test high potential targets in the nearby areas. Camp construction at Berg is advancing well and we anticipate mobilizing crews there in the near term as we continue to advance our regional target planning work."
West Seel Drilling
Holes S21-245 to 250, 252, and 254 are all step out or infill holes designed to expand or constrain West Seel mineralization with significant assay results summarized in the table below.
Hole S21-250 was a 100 metre step out on the northeast side of the West Seel long section (Figure 2) and has successfully expanded a large zone of high-grade mineralization. This hole intersected 0.56% copper equivalent over 364 metres from 440 metres depth, including 0.76% copper equivalent over 194 metres from 560 metres depth. This large zone of high-grade mineralization shows good continuity with the holes above and remains open for expansion at depth. Hole S21-245 was drilled on the east side of the West Seel deposit oriented toward the northeast. The hole encountered 166 metres of 0.32% copper equivalent from 180 metres depth and has expanded mineralization on the northeast side. Hole S21-247 also hit a modest zone of near surface mineralization expanding West Seel toward the northeast.
Hole S21-252 successfully expanded mineralization on the southeast side of West Seel, partially filling in a gap between the West and East Seel deposits. Hole S21-254 was successful in expanding near surface mineralization within the West Seel deposit returning 161 metres grading 0.37% copper equivalent from 9 metres depth.
Holes S21-246, 248, 249, and 251 did not encounter significant mineralization and constrain mineralization in those areas.
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).
East Seel Drilling
Holes S21-253 and 255 tested the east and southeast edges of the East Seel deposit. Hole S21-253 encountered 26 metres grading 0.24% copper equivalent from 82 metres depth before encountering the East Seel Fault which bounds mineralization on the southeast side. Hole S21-255 did not encounter significant mineralization and bounds the deposit to the east.
Expansion Potential at Seel Breccia Zone
Recent step out drilling north of the Seel Breccia Zone, located approximately 200 metres north of the East Seel deposit, has intersected sulphide bearing breccia style mineralization starting from surface. This zone is known to contain high grade mineralization highlighted by hole S06-42 which intercepted 138 metres grading 0.84% copper and 22.1 g/t silver from 22 metres depth (previously released). One drill is currently focused on tracing the zone along strike and to depth to assess the potential to expand high-grade near surface resources in the area. Breccia style mineralization contains sulphides, including chalcopyrite, within a breccia matrix that also contains quartz and iron carbonate. Photographs of drill core from the zone are shown below. Sulphide minerals in the breccia matrix include chalcopyrite, pyrite, and sphalerite. Assays are pending for drill holes from this zone.
Ootsa Exploration Program Update
Two core rigs are currently drilling at the Ootsa property and have completed over 14,000 metres of drilling in 27 holes since June 2021. Results from 17 additional holes from Ootsa are pending. The current program is focused on testing the margins of the known mineralized zones and defining the extents of mineralization. Select exploration targets outside the known mineralized zones are also scheduled for drill testing.
All drill core is logged, photographed, and cut in half with a diamond saw. Half of the core is bagged and sent to ALS Geochemistry 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 33 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
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.
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SOURCE Surge Copper Corp.
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