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.
Highlights
- 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.
Upcoming Catalysts
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
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. 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
"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.