December 14, 2020, Vancouver, British Columbia – Surge Copper Corp. (the “Company” or “Surge Copper”) (TSX-V: SURG), is pleased to announce assay results for drill hole S20-219 from the Company’s 100% owned Ootsa Property in British Columbia.
A 10,000 metre drill program is currently underway along the gold rich Seel Trend at Ootsa. One drill is focused on testing the expansion and near-deposit exploration potential at the East and West Seel porphyry Cu-Au deposits, the second is testing new exploration targets.
- Hole S20-219, drilled at the West Seel Deposit, returned 0.51% copper equivalent over 700 metres including 0.60% copper equivalent over 422 metres.
- Hole S20-219 intersected the longest continuously mineralized interval drilled at the Ootsa Property to date with mineralization starting at the top of bedrock at 15 metres depth and extending continuously to the end of the hole at 1028 metres depth returning 0.42% copper equivalent over 1013 metres.
- A higher-grade zone returning 0.76% copper equivalent over 110 metres was encountered between 436 and 546 metres depth.
- The results demonstrate a large and robust mineralizing system at West Seel with a significant high-grade core.
Hole S20-219 was drilled at the West Seel Deposit at an azimuth of 208 degrees and a dip of -50 degrees to a total depth of 1028 metres. The hole successfully tested a 200 metre by 200 metre zone at surface with limited drill data before passing through 600 metres of the known deposit, then extended known mineralization roughly 228 metres down dip to the southwest.
Hole S20-219 represents the longest continuous zone of mineralization drilled to date on the Ootsa property and the best hole on a copper equivalent grade times thickness basis. Assay results for hole S20-219 are summarized in the table below.
Summary of assay results for Hole S20-219
*Width refers to drill hole intercepts, true widths have not been determined.
**Cu Eq. (copper equivalent) has been used to express the combined value of copper, molybdenum, gold 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/lb copper, $1800/oz gold, $22 silver, and $10/lb molybdenum using the formula Cu Eq.% = Cu% + (Au g/t x 0.877) + (Ag g/t x 0.0107) + (Mo% x 3.33).
Dr. Shane Ebert CEO of Surge commented, “The results from hole S20-219 highlight the scale and grade of the West Seel system, which could lead to material increase to the current NI 43-101 resource estimate, and eventually lead to combining the East and West Seel conceptual pit designs into one very large conceptual pit. The hole has extended mineralization both near surface to the northeast, and at depth to southwest. This is a great start to our deposit expansion drill program. The West Seel Deposit is known to contain a sizable high-grade core to the system, especially compared to operating BC porphyry mines, and understanding and fully defining that high grade zone and the larger deposit outline is a key objective of the current program.”
Mineralized drill core from hole S20-219. Left, 425 metres depth, biotite hornfels with disseminated and fracture-controlled pyrite-chalcopyrite-pyrrhotite cut by quartz-chalcopyrite-molybdenite veins. Right, 430 metres depth, mineralized zone cut by quartz-molybdenite-chalcopyrite veins.
Drill Program Update
Two drills are active on the property and 7 diamond drill holes have been completed, processed, and submitted to the lab for assay. Hole S20-226 is currently in progress at West Seel. Hole S20-225 is currently in progress testing the West Target. Figure 1 shows the locations of the 2020 drill holes, Figure 2 shows long section B – B’ from West Seel illustrating mineralization from hole S20-219.
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.
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. There are 2 drills working at the project with drilling focused on defining the extent of the large West Seel deposit and testing new targets along the Seel Trend.
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
President and Chief Executive Officer
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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.