TSX-V Trading Symbol: SURG
OTCQX: SRGXF
Frankfurt Trading Symbol: G6D2
VANCOUVER, BC, Feb. 1, 2022 /CNW/ - Surge Copper Corp.
(TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) ("Surge" or
the "Company") is pleased to announce complete assay
results for 5 holes from the Seel Breccia Zone and 2 regional
exploration holes from the Ox Trend at the Company's 100% owned
Ootsa Property in British
Columbia. The Seel Breccia Zone is located 200 metres north
of the East Seel deposit and is known to contain high-grade copper
and silver mineralization that extends from surface along a series
of steeply dipping brecciated zones. Drilling during the summer
2021 program encountered this style of breccia mineralization in a
stepout to the north and west of the known zone, and this release
contains the third batch of results from follow-up drilling in this
area. The first and second batches of results were released on
December 7, 2021 and January 11, 2022 respectively.
Highlights
- Hole S21-299 intersected 48 metres grading 0.54%
copper equivalent from 94 metres downhole depth,
including 16 metres grading 0.64% copper
equivalent
- Hole S21-300 intersected 28 metres grading 0.90%
copper equivalent from 88 metres downhole depth,
including 16 metres grading 1.27% copper
equivalent
- Drilling has extended the strike length of the zone to 300
metres
- Hole 299, in conjunction with hole 298 (see Press Release dated
January 11, 2022) demonstrates
continuity in the eastern portion of the zone and opens the zone up
for further expansion in this direction
Assay results have been received for 5 holes from the Seel
Breccia Zone including holes S21-299 to 302 and S21-304.
Significant results are summarized in the table below. Hole
locations and orientations are shown on the drill hole map and
select holes are illustrated on the cross section
below.
Hole S21-299 was located on the eastern side of the Breccia Zone
and intersected 48 metres grading 0.40% copper and 11.1 g/t silver
(0.54% copper equivalent) from 94 metres downhole, including 16
metres grading 0.48% copper and 13.1 g/t silver (0.64% copper
equivalent), demonstrating the zone remains open on the east
side.
Hole S21-300 tested the zone near the western end, 250 metres
west of hole S21-299, and returned strong grades, further
demonstrating the strike potential of the zone. Hole S21-300
intersected 28 metres grading 0.65% copper and 16.9 g/t silver
(0.90% copper equivalent) from 88 metres downhole, including 16
metres grading 0.94% copper and 25.3 g/t silver (1.27% copper
equivalent).
Holes S21-301 and 302 intersected the Seel Breccia at depth on
the west side and suggest mineralization narrows with depth in this
area. Hole S21-304 was collared south of the Seel Breccia and
drilled away from the zone testing the hangingwall. The hole
intersected 8 metres grading 0.27% copper and 6.3 g/t Ag (0.34%
copper equivalent) and demonstrates potenital for additional zones
of breccia style mineralization surrounding the main breccia
body.
The Seel Breccia is a near-vertical to steeply south-dipping
breccia body ranging from 25 to 50 metres wide, extending to depths
exceeding 100 metres below surface, and having a known strike
length of approximately 300 metres. Smaller parallel and irregular
breccia bodies locally surround the main zone. Drilling during the
2021 field season has significantly expanded near-surface
high-grade mineralization well beyond the zone of historical
drilling, and the area is being evaluated for its potential as a
high-grade starter pit.
Results are pending from 13 additional holes testing the Seel
Breccia Zone. An additional nine core holes are also pending from
the Company's 2021 Berg drill program.
Summary of Assay
Results for Selected Holes
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
CuEq
(%)2
|
Cu
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
|
S21-299
|
94
|
142
|
48
|
0.54
|
0.40
|
0.03
|
11.1
|
|
including
|
94
|
110
|
16
|
0.64
|
0.48
|
0.03
|
13.1
|
|
S21-300
|
88
|
116
|
28
|
0.90
|
0.65
|
0.09
|
16.9
|
|
including
|
90
|
106
|
16
|
1.27
|
0.94
|
0.07
|
25.3
|
|
S21-301
|
200
|
204
|
4
|
1.17
|
0.64
|
0.47
|
11.0
|
|
S21-302
|
152
|
154
|
2
|
0.50
|
0.36
|
0.01
|
12.8
|
|
S21-304
|
122
|
130
|
8
|
0.34
|
0.27
|
0.01
|
6.3
|
|
1.
Width refers to drill hole intercepts; true widths have not been
determined.
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 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).
|
|
Regional Exploration
Holes Ox21-279 and Ox21-292 were exploration holes targeting
geophysical and geochemical targets along the Ox Trend, a zone of
chargeability highs and known alteration that extends 7 kilometres
in an east-west direction centred on the Ox deposit. Hole Ox21-279
was collared roughly 1 kilometre west of the Ox deposit and drilled
at an azimuth of 205 degrees, a dip of -50 degrees, to a total
depth of 681 metres. Hole Ox21-292 was collared 2.4 kilometres west
of the Ox deposit and was drilled at an azimuth of 230 degrees, a
dip of -50 degrees, to a total depth of 534 metres. Both holes
encountered zones of alteration and localized zones with elevated
precious metal values as summarized in the table below.
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Ox21-279
|
400
|
404
|
4
|
0.24
|
33.9
|
0.03
|
Ox21-292
|
4
|
8
|
4
|
0.20
|
1.1
|
0.15
|
Ox21-292
|
396
|
406
|
10
|
0.36
|
2.8
|
0.04
|
including
|
396
|
398
|
2
|
0.66
|
1.7
|
0.03
|
1.
Width refers to drill hole intercepts; true widths have not been
determined.
|
The geologic, alteration, and geochemical data provided by these
holes will be used to aid the ongoing interpretation and
exploration of the Ox Trend.
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
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.
Qualified Person
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.
Upcoming Catalysts
The Company anticipates updating the market on results from the
following activities:
- Drill results from 13 remaining drill holes from 2021 Ootsa
drill program
- Drill results from 9 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
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
"Leif Nilsson"
Chief Executive Officer
For Further information, please contact:
Riley Trimble, Corporate
Communications & Development
Telephone: +1 604 416 2978
Email: info@surgecopper.com
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://www.surgecopper.com
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.