VANCOUVER, British Columbia,
May 6, 2019 /CNW/ -- Surge
Exploration Inc. ("the Company" or "Surge") (TSXV: SUR), (OTC:
SURJF), (FRA: DJ5C) announces that it has recently acquired 100%
interest in additional Copper Gold mineral claims adjoining its
Copper Porphyry Mineral Claim in North Central British
Columbia.
These 2 new mineral claims (6,790 hectares) add to the Company's
current sizable land position within British Columbia's prolific Omineca Mining
District. Surge now has Copper-Gold mineral claims totalling
26,455 hectares (265 sq km) in the area.
Subject to the terms and conditions of the Purchase and Sale
Agreement dated May 2, 2019 (the
"Agreement") for the new mineral claims, Surge agrees to making a
cash payment to the vendor, Venture Capital IQ Inc., in the amount
of $16,000 upon signing the Agreement
and issuing 2,000,000 fully paid and non-assessable common shares
in the capital of the Company upon TSX Venture Exchange approval to
the Transaction.
Tim Fernback, Surge CEO states,
"We are very excited to acquire these key additional mineral claims
in the Omineca Region. This area has already generated several
promising projects, and is the subject of significant interest and
exploration expenditure in 2019 with recent discoveries by Sun
Metals, Teck Resources, Centerra Gold and Serengeti Resources.
Furthermore, this region is host to numerous operating mines, good
infrastructure including experienced exploration and supporting
services. Our exploration team believes that this land package
is strategically situated to exploit the high copper-gold values of
the region."
About the Property
The Omineca Group of 12 claim blocks (see map) lie in the
Omineca Mining Division of north-central British Columbia, approximately 150 km north
of Fort St. James. The claims are not subject to any royalty
terms, back-in rights, payments or any other agreements and
encumbrances.
B.C. Minfile assessment report data indicates that most of the
area covered by the Omineca Group claim blocks were at one time or
another covered by staking during surges of exploration in B.C.
dating from the 1940's to present day. Largely the claims
appear to have been minimally explored with little follow-up.
However, some work was recorded on several claims with results for
stream sediment sampling showing anomalous to highly anomalous
results for gold in a few areas. These areas were recommended
for detailed follow-up, however due to a previous commodity price
downturn no further work was recorded.
Prominent among early discoveries in the Omineca region were the
nearby Lustdust/Stardust property (Sun Metals Corp. TSXV: SUNM)
covering a large, coherent integrated porphyry-skarn, epithermal
system; the Kwanika property (Serengeti Resources Inc./POSCO Daewoo
TSXV: SIR) a promising advanced stage copper-gold project; the
Lorraine property (Lorraine Copper Corp. TSXV: LLC) host to a large
copper/gold NI 43-101 compliant resource. The tenures are
located between the Kemess North project being developed by
Centerra Gold's subsidiary Aurico Metals and Centerra Gold's
operation Mt Milligan mine.
Once a detailed compilation of all available data has been
collected and assessed, management will prepare a plan and budget
for an exploration program to be carried out once the field season
starts in 2019.
All shares issued are subject to a four month and a day hold
period in accordance with applicable securities laws.
Qualified Person
The technical content of this news release and the 43-101
technical reports have been reviewed and approved by Paul Sorbara, P.Geo., an independent consulting
geologist and a qualified person as defined in NI 43-101.
About Surge Exploration Inc.
The Company is a Canadian-based mineral exploration company
which has been active in the resource sector in British Columbia and elsewhere in
Canada. The Company has an exploration office in Santiago, Chile to review mineral exploration
opportunities in Chile and
elsewhere in South America.
Ontario Cobalt Properties (Cobalt):
The Company has an option to earn an undivided 60% interest in
the Glencore Bucke Property and the Teledyne Property, located in
Cobalt, Ontario Canada.
Hedge Hog Property, (Copper Gold) British Columbia
The Company has an option to earn an undivided 60% interest
seven mineral tenure covering 2,418 hectares (5,972 acres) located
approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the historic
gold mining towns of Wells and
Barkerville.
On Behalf of the Board of Directors
Tim Fernback
President & CEO
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 may contain forward‐looking statements
which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and
uncertainties. Except for statements of historical facts, comments
that address resource potential, upcoming work programs, geological
interpretations, receipt and security of mineral property titles,
availability of funds, and others are forward‐looking.
Forward‐looking statements are not guarantees of future performance
and actual results may vary materially from those statements.
General business conditions are factors that could cause actual
results to vary materially from forward‐looking statements.
Contact:
info@surgeexploration.com
+1-778-945-2656
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SOURCE Surge Exploration Inc.