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Surge Copper Completes 2024 Field Program and Provides Corporate Update

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Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) has completed its 2024 field program at the Berg and Ootsa copper-molybdenum-precious metals projects in central British Columbia. The program included:

- 13 diamond drill holes totaling 5,054 metres: 10 holes (3,707m) at Berg deposit, 1 hole (450m) at Berg SW target, and 2 holes (897m) at Ootsa Project

- Geotechnical testing and environmental baseline data collection

- Ongoing pre-feasibility level metallurgy program

The company is now transitioning to data analysis and reporting. Assay results will be released once verified. The Annual General Meeting was held on September 25, 2024, with all proposed resolutions approved by shareholders.

Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) ha completato il programma di lavoro 2024 presso i progetti di rame-molibdeno-metalli preziosi di Berg e Ootsa nel centro della Columbia Britannica. Il programma ha incluso:

- 13 fori di perforazione a diamante per un totale di 5.054 metri: 10 fori (3.707m) nel giacimento Berg, 1 foro (450m) nel target Berg SW e 2 fori (897m) nel progetto Ootsa

- Test geotecnici e raccolta di dati di base ambientali

- Programma di metallurgia a livello di pre-fattibilità in corso

L'azienda sta ora passando all'analisi dei dati e alla redazione dei report. I risultati delle analisi saranno pubblicati una volta verificati. L'Assemblea Generale Annuale si è tenuta il 25 settembre 2024, con tutte le risoluzioni proposte approvate dagli azionisti.

Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) ha completado su programa de campo 2024 en los proyectos de cobre-molibdeno-metales preciosos de Berg y Ootsa en el centro de Columbia Británica. El programa incluyó:

- 13 perforaciones de diamante sumando 5,054 metros: 10 perforaciones (3,707m) en el yacimiento Berg, 1 perforación (450m) en el objetivo Berg SW y 2 perforaciones (897m) en el Proyecto Ootsa

- Pruebas geotécnicas y recolección de datos de línea base ambiental

- Programa de metalurgia a nivel de prefactibilidad en curso

La empresa ahora está pasando al análisis de datos y elaboración de informes. Los resultados de los ensayos se publicarán una vez verificados. La Junta General Anual se celebró el 25 de septiembre de 2024, con todas las resoluciones propuestas aprobadas por los accionistas.

Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF)는 2024년 현장 프로그램을 완료했습니다 중앙 브리티시 컬럼비아의 Berg 및 Ootsa 구리-몰리브덴-귀금속 프로젝트에서. 이 프로그램에는 다음이 포함되었습니다:

- 전체 5,054미터의 다이아몬드 시추공 13개: Berg 광산에서 10개 구멍(3,707m), Berg SW 타겟에서 1개 구멍(450m), Ootsa 프로젝트에서 2개 구멍(897m)

- 지질공학 테스트 및 환경 기준선 데이터 수집

- 진행 중인 예비타당성 수준의 야금 프로그램

회사는 이제 데이터 분석 및 보고로 전환하고 있습니다. 분석 결과는 검증이 완료되면 발표됩니다. 2024년 9월 25일 연차총회가 열렸으며, 모든 제안된 결의안이 주주에 의해 승인되었습니다.

Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) a terminé son programme de terrain 2024 sur les projets de cuivre-molybdène-métaux précieux de Berg et Ootsa dans le centre de la Colombie-Britannique. Le programme a inclus :

- 13 forages diamant pour un total de 5 054 mètres : 10 forages (3 707m) dans le gisement de Berg, 1 forage (450m) dans la cible Berg SW, et 2 forages (897m) dans le projet Ootsa

- Tests géotechniques et collecte de données de référence environnementales

- Programme de métallurgie au niveau de la préfaisabilité en cours

L'entreprise est maintenant en train de passer à l'analyse des données et à la rédaction des rapports. Les résultats des analyses seront publiés une fois vérifiés. L'Assemblée Générale Annuelle s'est tenue le 25 septembre 2024, avec toutes les résolutions proposées approuvées par les actionnaires.

Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) hat sein Feldprogramm für 2024 abgeschlossen in den Kupfer-Molybdän- und Edelmetallprojekten Berg und Ootsa im zentralen British Columbia. Das Programm umfasste:

- 13 Diamantbohrlöcher mit einer Gesamtlänge von 5.054 Metern: 10 Löcher (3.707m) im Bergablagerung, 1 Loch (450m) im Berg SW-Ziel und 2 Löcher (897m) im Ootsa Projekt

- Geotechnische Tests und Erhebung von Umweltgrundlagendaten

- Laufendes Metallurgieprogramm auf Machbarkeitsebene

Das Unternehmen wechselt nun zur Datenanalyse und Berichterstattung. Die Analyseergebnisse werden veröffentlicht, sobald sie verifiziert sind. Die Jahreshauptversammlung fand am 25. September 2024 statt, wobei alle vorgeschlagenen Beschlüsse von den Aktionären genehmigt wurden.

Positive
  • Completed 13 diamond drill holes totaling 5,054 metres, exceeding original drilling target
  • 10 holes at Berg deposit expected to support resource definition and conversion of Inferred resources
  • Initiated environmental baseline data collection program
  • Pre-feasibility level metallurgy program ongoing, slated for completion in early 2025
  • All proposed resolutions approved at Annual General Meeting
Negative
  • None.

Vancouver, British Columbia, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce the successful completion of its 2024 field program at its 100%-owned Berg and Ootsa copper-molybdenum-precious metals projects located in central British Columbia. Field crews have now been demobilized, and with the conclusion of physical operations, the Company is ramping down associated expenditures as it transitions into the data analysis and reporting phase.

2024 Field Program Highlights

  • Completed a total of 13 diamond drill holes for 5,054 metres:
    • At the Berg Project, 10 holes were drilled for a total of 3,707 metres within the main Berg deposit, with an additional 450-metre hole testing the Berg SW exploration target.
    • At the Ootsa Project, two holes were drilled for a total of 897 metres, targeting the copper-gold porphyry zone discovered in 2022, northeast of the Seel deposit (see January 9, 2023 press release).
  • All 10 holes at the Berg deposit are expected to support resource definition and conversion of Inferred resources to higher confidence categories.
  • Six of the Berg deposit holes underwent downhole geotechnical testing, including Packer tests, piezometer installations, and televiewer surveys, supporting pre-feasibility mining studies.
  • Core samples will also undergo geochemical analysis and acid-base accounting test work during the winter, supporting ARD/ML environmental baseline and pre-feasibility studies on waste rock management.
  • An environmental baseline data collection program was initiated across the project area to bolster previously completed database efforts.
  • A pre-feasibility level metallurgy program is ongoing and slated for completion in early 2025.
  • Assay results from all drill holes will be released once data are received, verified, and interpreted.

Leif Nilsson, Chief Executive Officer, commented: “We’re pleased with how efficiently this year’s field program progressed. We achieved all the critical objectives, and thanks to high productivity and favourable weather conditions, we exceeded our original drilling target. I would like to extend my sincere gratitude to all the employees and contractors whose hard work and dedication contributed to this successful program. We look forward to providing further updates as we analyze the results in the coming months.”

Annual General Meeting

The Company held its Annual General Meeting on September 25, 2024. All proposed resolutions, as described in the notice of the meeting and information circular dated August 13, 2024, were approved by the shareholders of the Company.

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 the low-carbon energy transition and associated 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 & Development
Telephone: +1 604 416 2978
Email: info@surgecopper.com
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://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.


FAQ

How many drill holes did Surge Copper complete in its 2024 field program?

Surge Copper completed a total of 13 diamond drill holes for 5,054 metres in its 2024 field program at the Berg and Ootsa projects.

What is the expected completion date for Surge Copper's pre-feasibility level metallurgy program?

The pre-feasibility level metallurgy program for Surge Copper (SRGXF) is slated for completion in early 2025.

When did Surge Copper hold its Annual General Meeting in 2024?

Surge Copper held its Annual General Meeting on September 25, 2024.

What type of testing was conducted on six of the Berg deposit holes?

Six of the Berg deposit holes underwent downhole geotechnical testing, including Packer tests, piezometer installations, and televiewer surveys, supporting pre-feasibility mining studies.

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