Surge Copper Corp. (the “Company”) (SURG: TSX-V) is pleased to
announce the discovery of a new area containing altered and
mineralized porphyry and presents assay results for hole S18-215
from the Company’s Ootsa Property.
The Ootsa Property is an advanced stage
copper-gold exploration project containing the East Seel, West
Seel, and Ox porphyry deposits, and is located adjacent to the
Huckleberry Copper Mine in British Columbia.
HIGHLIGHTS
- Surface exploration has discovered an outcrop of
strongly altered porphyry located 4 km southwest of West
Seel.
- The new discovery has been called the Ravine zone. A
single composite grab sample from the Ravine Zone returned
29.1 g/t Ag, 2% Zn and 0.24% Pb.
- The Ravine Zone occurs within a 1 kilometre long and
open chargeability anomaly that has not been explored
previously.
- Hole S18-215 intersected long intervals of intense
alteration containing highly elevated silver, zinc, and lead
including:
- 191.5 metres (to the end of the hole) of 7.25 g/t
silver, 0.43% zinc and 0.16% lead.
- 170 metres of 8.14 g/t silver, 0.49% zinc and 0.17%
lead.
Ravine Zone
ProspectingProspecting 4 kilometres southwest of the West
Seel deposit, targeting a large and previously unexplored
geophysical anomaly, has resulted in the discovery of a strongly
altered quartz-feldspar-biotite porphyry in outcrop. The
porphyry contains strong sericite alteration, is cut by thin
quartz-sulfide veinlets, and contains fine grained disseminated
sulfides. A composite grab sample from the porphyry over a 4
metre area returned 29.1 g/t Ag, 2% Zn and 0.24% Pb. The area
corresponds with a 1 kilometre long chargeability anomaly that
remains open to the south. This new area has been termed the
Ravine Zone, and the presence of altered mineralized porphyry
containing strong alteration and highly anomalous Ag-Zn-Pb
associated with a large geophysical anomaly suggests the area has
good discovery potential. Additional work will be planned for
the area during 2019 to evaluate the extent and significance of the
new zone.
Drill ResultsThe 2018 drill
program at Ootsa focused on expanding existing mineralization and
testing new exploration targets around the East and West Seel
deposits. The program has been successful with hole S18-211
(previously released) stepping out and expanding mineralization at
East Seel, and holes S18-212 and 214 (previously released)
discovering a new zone of copper mineralization east of the East
Seel deposit.
Hole S18-215 is a 100 metre step out to the west
of hole S18-214 and was drilled at an azimuth of 135 degrees and a
dip of -50 degrees. The hole intersected highly altered rocks
from the start of bedrock at 48 metres to the end of the hole at
351.5 metres. Assay results from the hole are summarized in
the table below.
Summary of select drill intercepts – Hole
S18-215
Drill Hole |
From (m) |
To (m) |
Width (m)* |
Ag g/t |
Zn% |
Pb% |
Cu % |
Au g/t |
S18-215 |
160.0 |
351.5 (EOH) |
191.5 |
7.25 |
0.43 |
0.16 |
0.03 |
0.07 |
S18-215 |
160.0 |
351.5 (EOH) |
170.0** |
8.14 |
0.49 |
0.17 |
0.03 |
0.07 |
including |
162.0 |
164.0 |
2.0 |
42.3 |
2.02 |
1.97 |
0.01 |
0.02 |
including |
258.0 |
260.0 |
2.0 |
14.0 |
3.17 |
0.10 |
0.11 |
0.83 |
S18-215 |
124.0 |
136.0 |
12.0 |
5.99 |
0.07 |
- |
0.20 |
0.08 |
*Width refers to drill hole intercepts, true widths have not
been determined.** Excluding 21.5 metres of unmineralized material
within the interval.
Hole S18-215 intersected long intervals of
highly anomalous silver, zinc, and lead, including 191.5 metres (to
the end of the hole) containing 7.25 g/t silver, 0.43% zinc,
and 0.16% lead.
Drill Program UpdateThe 2018
Ootsa drilling program is complete and the drill has been
demobilized from site. During 2018 the Company completed 2137
metres of drilling in 7 holes. A map showing the location of
2018 drill holes is available in the map gallery on our website or
by clicking here.
Results for the final 2 holes of the program,
holes S18-216 and 217, are expected shortly.
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. The property contains NI 43-101 compliant
resources of 224 million tonnes in the Measured and Indicated
categories with contained metals of 1.1 billion pounds of copper, 1
million ounces of gold, and 20 million ounces of silver as
summarized in the table below.
On February 9, 2016, the Company announced a
positive Preliminary Economic Assessment (PEA) for the Ootsa
Property with potential for low capital cost, low
risk and rapid pay back utilizing
existing infrastructure in the district with a contract mining and
toll milling scenario. The study recommends the Company
continue to advance the Ootsa Project with extended and advanced
technical studies with the intention of moving the project toward a
production decision.
Ootsa Project Pit Constrained Mineral
Resource Estimate at $8.50/t NSR Cut-off Value
Category |
Tonnes (‘000’s) |
CuEq% |
Cu % |
Au g/t |
Mo % |
Ag g/t |
CuEqM
lbs |
CuM
lbs |
Au K
oz |
MoM
lbs |
Ag K
oz |
Measured |
187,148 |
0.38 |
0.23 |
0.15 |
0.021 |
2.8 |
1,568 |
934 |
916 |
85 |
17,089 |
Indicated |
37,041 |
0.35 |
0.21 |
0.12 |
0.023 |
2.8 |
286 |
175 |
146 |
19 |
3,368 |
M&I |
224,189 |
0.37 |
0.22 |
0.15 |
0.021 |
2.8 |
1,854 |
1,109 |
1,062 |
104 |
20,457 |
The current technical report supporting the
resource statement and PEA is available on SEDAR or the Company’s
website at www.surgecopper.com and has an effective date of January
2016. The resource estimate uses $8.50 per tonne NSR cut-off
value. Mineral resources are not mineral reserves and by
definition do not demonstrate economic viability. There is no
certainty that all or any part of the mineral resource will be
converted into mineral reserves. A ‘Measured Mineral
Resource’ is that part of a mineral resource for which quantity,
grade or quality, densities, shape and physical characteristics are
so well established that they can be estimated with confidence
sufficient to allow the appropriate application of technical and
economic parameters, to support production planning and evaluation
of the economic viability of the deposit. An ‘Indicated
Mineral Resource’ is that part of a Mineral Resource for which
quantity, grade or quality, densities, shape and physical
characteristics can be estimated with a level of confidence
sufficient to allow the appropriate application of technical and
economic parameters, to support mine planning and evaluation of the
economic viability of the deposit. Copper Equivalent (CuEq)
calculations are based on base case metal price (US$3/lb Cu,
US$1260/oz Au, US$10.30/lb Mo, and US$17/oz Ag) and process
recovery assumptions, and take into account smelter payable rates
and refining costs. M&I = measured and indicated. The
resource update and Preliminary Economic Assessment was completed
by P&E Mining Consultants Inc. in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects.
Quality ControlAll drill core
is logged, photographed, and cut in half with a diamond saw.
Half of the core is sealed in plastic bags and sent to Activation
Laboratories Ltd. 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 37 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 project as defined by National Instrument 43-101 and
has approved the technical disclosure contained in this news
release.
ON BEHALF OF THE BOARD OF
DIRECTORS
“Shane Ebert”President and Chief Executive Officer
For Further information, please
contact:Telephone: 604-718-5454Toll Free:
888-500-4587info@surgecopper.comhttp://www.surgecopper.com
Or Don MosherCorporate DevelopmentTelephone:
604-685-6465don@surgecopper.com
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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. 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 or financing, inability to procure
equipment and supplies in sufficient quantities and on a timely
basis, equipment breakdown 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
suggests 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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