Assays for 16 Holes Pending
VANCOUVER, BC, March 24, 2021 /CNW/ - Surge Copper Corp.
(TSXV: SURG) ("Surge" or the "Company") is pleased to announce
assay results for multiple resource definition and exploration
holes from the Company's 100% owned Ootsa Property in British Columbia.
Highlights
- Hole S21-228 intersected 585 metres grading 0.57%
copper equivalent1 with the zone remaining open at
depth
- Hole S21-228 includes multiple higher-grade zones such as 0.99%
copper equivalent over 16 metres and 0.76% copper equivalent over
44 metres
- Hole S21-228 opens up significant expansion potential to the
southeast with a 585 meter vertical zone of continuous
mineralization, containing above deposit-average grades
- Hole S21-228 ended in strong mineralization, leaving the
deposit fully open at depth and to the southeast
Dr. Shane Ebert, VP Exploration,
commented: "Hole S21-228 is a vertical step out hole on the
southeastern side of West Seel. The hole encountered a large,
continuous zone of strong mineralization over 585 metres, ending in
strong mineralization hosted within the deep West Seel intrusive.
This intercept extends known mineralization up to 175 metres to the
southeast in the lower portions of the deposit and represents the
deepest zone of continuous strong mineralization encountered to
date at West Seel, significantly opening the deposit for further
expansion both at depth and laterally to the southeast.
Mineralization in the hole occurs both within a large intrusion
that contains potassic alteration and strong quartz veining, and in
volcanic, sedimentary, and intrusive rocks overlying the intrusion.
The projection of this mineralized contact and intrusion to the
northwest and southeast provides the company with a very large and
compelling exploration target. Pending results from holes S21-231,
S21-233, and S21-239 will help understand the expansion potential
of West Seel in these directions. Further stepouts to the southeast
in this area will be a priority when drilling resumes in the
summer."
The winter 2021 drill program at Ootsa has been completed with
20,028 metres drilled in 27 holes. Drilling is scheduled to resume
in late May to early June following spring breakup and snow melt in
the area.
Holes S20-226 and S21-228 - West Seel Deposit
Holes S20-226 and 228 both tested the West Seel deposit. Hole
S20-226 was drilled at an azimuth of 208, a dip of -50 degrees, to
a total depth of 959.4 metres. The hole helps to define the limit
of West Seel mineralization to the southwest, returning
mineralization from 3 metres depth grading 0.56% copper equivalent
over 13 metres, along with 0.36% copper equivalent over 120 metres
from 342 metres depth.
Hole S20-228 was a vertical hole drilled on the southeast side
of the West Seel deposit to a depth of 795 metres. The hole is
shown on Figure 1 and has successfully expanded the West Seel
Deposit 175 metres to the southeast with the deposit remaining open
for further expansion over a vertical interval exceeding 500
metres. Hole S20-228 returned 0.57% copper equivalent over 585
metres from 210 metres depth, including 0.68% copper equivalent
over 164 metres from 272 metres depth. Mineralization is
interpreted to extend laterally above and along the upper contact
of the West Seel intrusion, a deep and potentially large intrusive
body containing potassic alteration and veining.
Summary of Assay
Results for Holes S20-226 and S20-228
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
CuEq
(%)2
|
Cu
(%)
|
Au
(g/t)
|
Mo
(%)
|
Ag
(g/t)
|
S20-226
|
3.0
|
16.0
|
13.0
|
0.56
|
0.22
|
0.20
|
0.017
|
10.2
|
S20-226
|
342.0
|
462.0
|
120.0
|
0.36
|
0.19
|
0.08
|
0.022
|
2.5
|
S21-228
|
172.0
|
184.0
|
12.0
|
0.46
|
0.24
|
0.20
|
0.011
|
1.3
|
S21-228
|
210.0
|
795.0
EOH
|
585.0
|
0.57
|
0.25
|
0.25
|
0.023
|
2.2
|
including
|
272.0
|
436.0
|
164.0
|
0.68
|
0.29
|
0.30
|
0.029
|
2.9
|
including
|
516.0
|
564.0
|
48.0
|
0.68
|
0.30
|
0.31
|
0.021
|
3.5
|
including
|
726.0
|
770.0
|
44.0
|
0.76
|
0.35
|
0.26
|
0.047
|
2.5
|
including
|
732.0
|
748.0
|
16.0
|
0.99
|
0.43
|
0.32
|
0.074
|
3.2
|
1.
|
Width refers to drill
hole intercepts; true widths have not been determined. EOH = End of
hole
|
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. 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).
|
Holes S20-225 and S20-227 – West Geophysical Target
Holes S20-225 and 227 both tested the West Geophysical target
near the southwest edge of the West Seel deposit. Hole S20-225 was
drilled at an azimuth of 225, a dip of -60 degrees, to a total
depth of 620.2 metres. Hole S20-227 was drilled from the same
location as hole S20-225 at an azimuth of 135, a dip of -60
degrees, to a total depth of 936.3 metres. Hole S20-227 intersected
a 110 metre zone of anomalous porphyry style mineralization
containing 0.1% copper, 0.03 g/t Au, and 0.007% molybdenum, with no
other significant zones of mineralization intersected in either
hole.
Holes S20-222 and S20-223 – East Geophysical Target
Holes S20-222 and 223 tested the East Geophysical target located
800 metres northeast of the East Seel Deposit. Hole S20-222 was
drilled at an azimuth of 95, a dip of -58 degrees, to a total depth
of 642 metres. Hole S20-223 was located 380 metres north of hole
S20-222 and was drilled at an azimuth of 100, a dip of -60 degrees,
to a total depth of 708 metres. The holes did not encounter any
intervals of significant porphyry style mineralization but did
intersect zones of sericite and clay alteration showing gold
potential.
Hole S20-222 returned a high-grade gold intercept of 8.54 g/t
over 2 metres from 50 metres depth. This high grade occurs
within a larger zone of anomalous gold grading 0.19 g/t gold over
38 metres from 40 to 78 metres depth (averaged with the high grade
capped at 2 g/t).
Hole S18-217 (drilled in 2018), located 250 metres south of hole
S20-222, also hit a high-grade gold interval grading 9.40 g/t Au
over 2 metres from 130 metres depth. There is potential for the
high grade in holes S20-222 and S18-217 to be part of a larger high
grade gold vein target controlled by a north-south trending
extensional fault zone. Hole S20-221, drilled between holes S18-217
and S20-222, did not test this target as the hole encountered 90
metres of cover before hitting bedrock.
Wide spaced drilling conducted to date at the East Geophysical
target shows increasing alteration and intrusive activity toward
the south end of the anomaly which remains largely untested and
warrants additional drill testing.
Drill Program Update
The fall 2020 to winter 2021 drilling program has been
completed. During the program 20,028 metres was drilled in 27
holes. Drilling is scheduled to resume in late May to early June
following spring breakup and snow melt in the area. Assay results
for 11 holes have been received and released. A further 16 holes
have been completed, processed, and submitted to the lab for assay
with results pending. Figure 2 shows the locations of the 2020-2021
drill holes.
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 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.
Qualified Person
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.
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:
Telephone: +1 604 416 2978 or +1 604 558 5847
info@surgecopper.com
http://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.
|
1)
|
Copper equivalent
("CuEq") has been used to express the combined, gross in-situ
content of copper, gold, molybdenum, and silver with no adjustments
made for recovery. It is provided for illustrative purposes only,
and is calculated using the following pricing assumptions:
US$3.00/lb copper, US$1,800/oz gold, US$10/lb molybdenum, and
US$22/oz silver.
|
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SOURCE Surge Copper Corp.