Surge Copper Corp. (TSXV: SURG) (OTCQB:
SRGXF) (Frankfurt: G6D2) (“Surge” or the
“Company”) is pleased to announce assay results from drill
holes BRG24-255 and 256, two of the ten holes completed during the
2024 field program at its 100%-owned Berg project located in
central British Columbia, in addition to hole BRG24-252, which was
an initial test of the nearby exploration target referred to as
Berg SW. Both BRG24-255 and 256 were targeted to infill the western
portion of the deposit to support resource definition. An
interactive 3D model including these results can be viewed here:
https://vrify.com/decks/17371?auth=ea4eda89-a10f-4e3b-b371-c90f4a2bb0da
Highlights
- Hole BRG24-255 intersected 320 metres grading 0.46%
CuEq2 (0.29% Cu, 0.048% Mo, 4.26 g/t Ag, and 0.024 g/t Au)
from 10 metres depth including an interval within the
supergene sulfide zone of 88 metres grading 0.87%
CuEq (0.57% Cu, 0.093% Mo, 5.34 g/t Ag, and 0.037 g/t Au) which
also included an interval grading 1.22% CuEq over 28
metres (0.99% Cu, 0.052% Mo, 10.82 g/t Ag, 0.07 g/t Au)
(note: copper equivalent “CuEq” is reported net of by-product
recoveries, please see Table 1, footnote 2 for details)
- Hole BRG24-256 intersected 178 metres grading 0.40%
CuEq (0.30% Cu, 0.017% Mo, 7.99 g/t Ag, 0.024 g/t Au) from
10 metres depth including an interval within the supergene
sulfide zone of 102 metres grading 0.44% CuEq (0.34%
Cu, 0.019% Mo, 6.45 g/t Ag, and 0.023 g/t Au)
- Both holes are expected to upgrade zones of Inferred resources
on the outer and inner margins of the mineralized zone
Leif Nilsson, Chief Executive Officer,
commented: “Holes 255 and 256 are another strong batch of resource
definition drilling results from the western side of the Berg
deposit, with hole 255 infilling an almost 200 metre gap in
drilling and hole 256 defining the known limits of the deposit to
the far northwest. We are also encouraged by the results from the
initial drill test of the Berg SW target, which turned up near
surface mineralization several hundred metres outboard of the main
deposit. The orientation of this hole was constrained somewhat by
surface access, and the results do not adequately explain the
geophysical signature which is analogous to the main Berg deposit.
Thus, we will use the new data gathered to further evaluate the
target for a potential follow-up test next year.”
Table 1. Summary of Assay Results for Hole BRG24-255 and
256 |
Drill Hole |
From (m) |
To (m) |
Width (m)1 |
CuEq (%)2 |
Cu (%) |
Mo (%) |
Ag (g/t) |
Au (g/t) |
BRG24-255 |
10 |
330 |
320 |
0.46 |
0.29 |
0.048 |
4.26 |
0.024 |
Including |
42 |
130 |
88 |
0.87 |
0.57 |
0.093 |
5.34 |
0.037 |
Including |
58 |
86 |
28 |
1.22 |
0.99 |
0.052 |
10.82 |
0.070 |
|
|
|
|
|
|
|
|
|
BRG24-256 |
10 |
188 |
178 |
0.40 |
0.30 |
0.017 |
7.99 |
0.024 |
Including |
14 |
116 |
102 |
0.44 |
0.34 |
0.019 |
6.45 |
0.023 |
|
|
|
|
|
|
|
|
|
Table 2. Summary of Assay Results for Hole BRG24-252 (Berg
SW Exploration Target) |
BRG24-252 |
10 |
46 |
36 |
0.25 |
0.19 |
0.004 |
5.06 |
0.042 |
BRG24-252 |
116 |
124 |
8 |
0.15 |
0.11 |
0.003 |
5.33 |
0.021 |
BRG24-252 |
210 |
236 |
26 |
0.18 |
0.09 |
0.005 |
12.09 |
0.043 |
BRG24-252 |
370 |
382 |
12 |
0.50 |
0.17 |
0.001 |
46.38 |
0.192 |
BRG24-252 |
416 |
428 |
12 |
0.21 |
0.10 |
0.001 |
14.43 |
0.063 |
|
|
|
|
|
|
|
|
|
1. Width refers to drill hole intercepts; true widths
have not been determined. 2. CuEq (copper equivalent)
is provided for illustrative purposes only to express the combined
abundance of copper, molybdenum, silver, and gold, with secondary
metals calculated net of assumed metallurgical recoveries using
deposit average recovery assumptions of 76% for molybdenum, 65% for
silver, and 55% for gold. The calculation uses metal prices of
US$4.00/lb copper, US$15.00/lb molybdenum, US$23.00/oz silver, and
US$1,800/oz gold resulting in the formula: CuEq [%] = Cu [%] + 2.85
x Mo [%] + 0.0055 x Ag [g/t] + 0.3609 x Au [g/t]. |
Figure 1. Berg drill hole location map showing
2024 drill holes and the location of cross sections B – B’ and C –
C’.Please click to view image
Description of Resource Definition Holes
BRG24-255 and BRG24-256
Hole BRG24-255 was oriented toward the southwest
with a -50 degree dip and drilled to a total depth of 426 metres.
The hole was designed to upgrade a sizable zone of Inferred
resources on the outer margin of the deposit and better define the
edge of mineralization in a zone with sparse drilling.
Hole BRG24-255 encountered porphyritic intrusive
rocks of the Berg Stock from the start of bedrock at 10 metres to
59 metres depth and then encountered andesite package rocks with
minor intrusive dikes from 59 to 127 metres. From 127 metres to the
end of the hole at 426 metres depth the hole encountered various
porphyritic intrusive rocks and breccias. The hole was variably
oxidized to about 42 metres depth and contained a strong secondary
chalcocite blanket from 42 to 144 metres depth.
The hole returned 320 metres grading 0.46%
copper equivalent (0.29% copper, 0.048% molybdenum, 4.26 g/t
silver, and 0.024 g/t gold) from the start of bedrock at 10 metres
depth to 330 metres depth. An interval within the supergene sulfide
zone from 42 to 130 metres depth returned higher grades of 0.87%
copper equivalent over 88 metres (0.57% copper, 0.093% molybdenum,
5.34 g/t silver, and 0.037 g/t gold) including a very high-grade
interval from 58 to 86 metres depth returning 1.22% copper
equivalent over 28 metres (0.99% copper, 0.052% molybdenum, 10.82
g/t silver, and 0.070 g/ gold). The highest molybdenite grades
occur within the Berg Stock with copper grade occurring both within
the Berg Stock and extending further outboard into the surrounding
wallrocks.
Figure 2. Cross section B – B’ showing drill
holes BRG24-255. See Figure 1 for section location.Please click
to view image
Hole BRG24-256 was oriented toward the
west-northwest with a -70 degree dip and drilled to a total depth
of 390 metres. The hole was designed to upgrade a sizable zone of
Inferred resources on the western outer margin of the deposit. Hole
BRG24-256 encountered the andesite package from the start of
bedrock at 10 metres to the end of the hole at 390 metres depth.
The hole was variably oxidized from 10 to 12 metres depth then
encountered variably developed secondary chalcocite blanket from 12
to 106 metres depth.
The hole returned 178 metres grading 0.40%
copper equivalent (0.30% copper, 0.017% molybdenum, 7.99 g/t
silver, and 0.024 g/t gold) from the start of bedrock at 10 metres
depth to 188 metres depth. An interval within the supergene sulfide
zone from 14 to 116 metres depth returned 0.44% copper equivalent
over 102 metres (0.34% copper, 0.019% molybdenum, 6.45 g/t silver,
and 0.023 g/t gold).
Figure 3. Cross section C – C’ showing hole
BRG24-256. See Figure 1 for section location.Please click to
view image
Figure 4. Photos from BRG24-255. Top:
chalcocite coated fractures from high grade supergene sulfide zones
at 63 metres depth. Bottom: strong quartz-chalcopyrite-molybdenite
and quartz-molybdenite veins in biotite altered porphyritic
intrusive with rounded clasts of intrusive and andesite from 213 to
216 metres depth.Please click to view image
Description of Hole BRG24-252 – Initial Test
of Berg SW Exploration Target
Hole BRG24-252 was an exploration hole designed
to test a coincidental geophysical and geochemical anomaly located
a few hundred meters southwest of the Berg deposit. Mapping at the
prospect in 2024 identified quartz-molybdenite veins within the
pyrite hornfels, along with patchy zones of chalcopyrite, and
overall decreasing alteration intensity surrounding the target to
the, south, west, and east. Base-metal silver veins have been
identified in the zone.
The hole was oriented toward the southwest with
a -45 degree dip and drilled to a total depth of 450 metres.
Multiple intervals of mineralization were encountered in the hole,
with copper grades lower than what is typically observed in the
main Berg deposit, but with comparable molybdenum, silver, and gold
grades.
Very strong alteration containing
quartz-molybdenite veinlets occurs within the upper portions of the
drill hole potentailly indicating proximity to a “porphyry centre”.
The deeper portions of the hole encountered highly magnetic
hornfelsed and pyritic sedimentary/volcanic rocks characteristic of
a more distal setting and providing a useful exploration vector.
The Berg style magnetic low in the target area was not encountered
in drilling and remains unexplained. This initial very encouraging
drill test of the target provides key information to help the
Company determine the next steps to further evaluate this promising
exploration area.
The hole returned 36 metres grading 0.25% copper
equivalent (0.19% copper, 0.004% molybdenum, 5.06 g/t silver, and
0.042 g/t gold) from the start of bedrock at 10 metres depth to 46
metres depth. Mutiple narrow zones of mineralization were
encountered highlighted by 12 metres grading 0.50% copper
equivalent (0.17% copper, 0.001% molybdenum, 46.38 g/t silver, and
0.192 g/t gold) from 370 to 382 metres depth.
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 Berg Project and the Ootsa Property as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 41-101") and has approved the technical and scientific
disclosure contained in this news release.
About Surge Copper Corp.
Surge Copper Corp. is a Canadian company that is
advancing an emerging critical metals district in a well-developed
region of British Columbia, Canada. The Company owns a large,
contiguous mineral claim package that hosts multiple advanced
porphyry deposits with pit-constrained NI 43-101 compliant
resources of copper, molybdenum, gold, and silver – metals which
are critical inputs to modern energy infrastructure and
electrification technologies.
The Company owns a 100% interest in the Berg
Project, for which it announced a maiden PEA in June 2023 outlining
a large-scale, long-life project with a simple design and high
outputs of critical minerals located in a safe jurisdiction near
world-class infrastructure. The PEA highlights base case economics
including an NPV8% of C$2.1 billion and an IRR of 20% based on
long-term commodity prices of US$4.00/lb copper, US$15.00/lb
molybdenum, US$23.00/oz silver, and US$1,800/oz gold. The Berg
deposit contains pit-constrained 43-101 compliant resources of
copper, molybdenum, silver, and gold in the Measured, Indicated,
and Inferred categories.
The Company also owns a 100% interest in the
Ootsa Property, an advanced-stage exploration project containing
the 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, Indicated,
and Inferred categories.
On Behalf of the Board of Directors
“Leif Nilsson”Chief Executive Officer
For further information, please contact:Riley
Trimble, Corporate Communications & DevelopmentTelephone: +1
604 639 3852Email: info@surgecopper.comTwitter:
@SurgeCopperLinkedIn: Surge Copper
Corphttps://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 commencement of drilling at the Berg Project and the timing
thereof; the surface exploration work at the Berg Project and the
timing thereof; the size and focus of the exploration drill program
at the Berg deposit; the potential for program expansion based on
initial results of the exploration drill program; the objectives of
the drill hole design; the use of proceeds from the Top-Up
Offering; and the Company’s plans regarding the Berg Project 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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