TSX-V Trading Symbol: SURG
Frankfurt Trading Symbol: G6D2
VANCOUVER, BC, May 10, 2021 /CNW/ - Surge Copper Corp.
(TSXV: SURG) (Frankfurt: G6D2) ("Surge" or the
"Company") is pleased to announce additional assay results for
multiple resource definition and exploration holes from the
Company's 100% owned Ootsa Property in British Columbia.
Highlights
- Hole S21-240 intersected 830 metres grading 0.38%
copper equivalent1 including 170 metres
grading 0.47% copper equivalent
- Holes S21-231 and 234 both hit high grade mineralization on the
southeast side of West Seel including 0.70% copper
equivalent over 62 metres and 0.62% copper
equivalent over 86 metres
- Hole S21-239 intersected 190 metres grading 0.45%
copper equivalent including 66 metres grading 0.65%
copper equivalent
- Results from 8 additional holes are pending, including step out
holes to the west, north, and the gap zone area between the Seel
deposits
Dr. Shane Ebert, VP Exploration,
commented: "This latest batch of holes are all step-outs testing
the margins of the West Seel deposit and continue to significantly
expand the size of the deposit and help define key structural
controls. Hole S21-240, on the north side of the deposit, has
returned an impressive interval of 830 metres of continuous
mineralization grading 0.38% copper equivalent, along with higher
grade zones. The holes on the southeast side of the deposit have
also returned strong grades starting around 200 metres below
surface with mineralization remaining open to the southeast. This
southeast part of the West Seel deposit is an area where additional
drilling has the potential to add significant tonnage to the
deposit."
Holes S21-229 to 234, 239, and 240 – West Seel
Deposit
Holes S21-229 to 234, 239, and 240 were all drilled at the West
Seel deposit and all eight holes were targeted to help define the
outer margins of the deposit. Significant results are summarized in
the table below. Figure 1 shows the locations of the 2020-2021
drill holes and section references.
Figure 1. Plan map of drill hole locations for 2020-2021
Ootsa drill program.
Holes S21-231 and 234 were drilled on the southeast side of the
West Seel deposit. Hole S21-231 was drilled at an azimuth of 315, a
dip of -65 degrees, to a total depth of 807 metres and intersected
0.40% copper equivalent over 378 metres from 386 metres depth,
including 0.70% copper equivalent over 62 metres from 434 metres
depth. Hole S21-234 was drilled at an azimuth of 315, a dip of -65
degrees, to a total depth of 795 metres and intersected 0.44%
copper equivalent over 202 metres from 206 metres depth, including
0.62% copper equivalent over 86 metres from 312 metres depth. The
potential to expand higher grade to the southeast is highlighted on
Figures 2 and 3.
Holes S21-230, 233, and 239 are located on the west side of West
Seel and all three have extended the deposit at depth and to the
west. Hole S21-230 was a vertical hole drilled to a depth of 888
metres. Hole S21-233 was drilled at an azimuth of 135, a dip of -75
degrees, to a total depth of 737.5 metres, and intersected 0.35%
copper equivalent over 395.5 metres from 342 metres depth,
including 0.48% copper equivalent over 148 metres from 474 metres
depth. Hole S21-239 was drilled at an azimuth of 135, a dip
of -75 degrees, and to a total depth of 746.5 metres. The hole
intersected 0.45% copper equivalent over 190 metres from 354 metres
depth, including 0.65% copper equivalent over 66 metres from 356
metres depth.
Hole S21-240 is located on the north side of the deposit and was
drilled at an azimuth of 215, a dip of -51 degrees, and to a total
depth of 1,240.5 metres. The hole intersected 0.38% copper
equivalent over 830 metres from 248 metres depth, including 0.47%
copper equivalent over 170 metres from 658 metres depth.
Summary of Assay
Results for Selected Holes
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)1
|
CuEq
(%)2
|
Cu
(%)
|
Au
(g/t)
|
Mo
(%)
|
Ag
(g/t)
|
S21-230
|
478.0
|
706.0
|
228.0
|
0.28
|
0.17
|
0.06
|
0.014
|
1.4
|
including
|
598.0
|
638.0
|
40.0
|
0.49
|
0.35
|
0.10
|
0.010
|
1.6
|
S21-231
|
386.0
|
764.0
|
378.0
|
0.40
|
0.18
|
0.17
|
0.013
|
2.1
|
including
|
434.0
|
496.0
|
62.0
|
0.70
|
0.34
|
0.28
|
0.023
|
4.0
|
S21-233
|
342.0
|
737.5
|
395.5
|
0.35
|
0.17
|
0.08
|
0.028
|
1.8
|
including
|
474.0
|
622.0
|
148.0
|
0.48
|
0.23
|
0.10
|
0.042
|
2.2
|
S21-234
|
206.0
|
408.0
|
202.0
|
0.44
|
0.20
|
0.19
|
0.015
|
1.7
|
including
|
312.0
|
398.0
|
86.0
|
0.62
|
0.27
|
0.28
|
0.023
|
2.7
|
S21-239
|
354.0
|
544.0
|
190.0
|
0.45
|
0.23
|
0.13
|
0.025
|
2.0
|
including
|
356.0
|
422.0
|
66.0
|
0.65
|
0.31
|
0.18
|
0.044
|
3.0
|
S21-240
|
248.0
|
1078.0
|
830.0
|
0.38
|
0.18
|
0.12
|
0.022
|
2.1
|
including
|
448.0
|
506.0
|
58.0
|
0.57
|
0.26
|
0.22
|
0.020
|
4.1
|
including
|
658.0
|
828.0
|
170.0
|
0.47
|
0.19
|
0.15
|
0.041
|
1.7
|
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. 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).
|
Hole S21-229 was located on the northwest side of the deposit
and was drilled toward the north at an angle of -50 degrees to a
total depth of 798 metres. Hole S21-232 was located on the
south side of the deposit and was drilled toward the southeast at
an angle of -70 degrees to a total depth of 756 metres.
Neither hole encountered significant mineralization and each help
define the limit of mineralization in those areas.
Figure 2. West Seel Cross Section C-C' showing results for
holes S21-228, 231, 233, and 239. See Figure 1 for section
location.
Figure 3. West Seel Cross Section D-D' showing results for
holes S21-230 and 234. See Figure 1 for section
location.
Figure 4. West Seel long section B-B' showing results for
holes S20-219, 220, 224, and 226, and S21-240. See Figure 1 for
section location.
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
and all holes have been logged, sampled, and submitted for assay.
Assay results for 19 holes have been received and released and
results for a further 8 holes are pending.
Drilling is scheduled to resume in late May to early June
following spring breakup and snow melt in the area. Further details
on the summer drill program will be provided in a subsequent
release.
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 and Berg projects 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.