Surge Copper Intersects 357 metres of 0.59% CuEq including 92 metres of 0.84% CuEq at the Berg Deposit

Rhea-AI Summary

Surge Copper Corp. (OTCQX: SRGXF) reported significant assay results from drilling at the Berg Deposit in British Columbia. Notable intersections include:

• BRG21-234: 325.1 metres at 0.42% copper equivalent starting from 15 metres
• BRG21-235: 162 metres at 0.69% copper equivalent starting from 20 metres
• BRG21-236: 357 metres at 0.59% copper equivalent starting from 24 metres

The drill program targets expanding high-grade mineralization, with further results from 6 holes expected soon. Surge aims to earn a 70% interest in the Berg Property from Centerra Gold.

Positive

• Significant intersections reported at the Berg Deposit: 325.1m at 0.42% CuEq, 162m at 0.69% CuEq, and 357m at 0.59% CuEq.
• Drilling confirms high-grade near-surface mineralization, indicating expansion potential.
• Surge plans further exploration and metallurgical testing to outline development scenarios.

Negative

• None.

TSX-V Trading Symbol: SURG
OTCQX: SRGXF
Frankfurt Trading Symbol: G6D2

VANCOUVER, BC, March 8, 2022 /PRNewswire/ - Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) ("Surge" or the "Company") is pleased to announce complete assay results for 3 holes from the Berg Deposit located on the Berg Property in British Columbia.  The Company has a right to earn a 70% interest in the Berg Property from Centerra Gold. The Company completed 9 drill holes at Berg in 2021, results from 6 additional holes from Berg are pending.

Highlights

• Hole BRG21-234 intersected 325.1 metres grading 0.42% copper equivalent from 15 metres downhole depth with the hole ending in mineralization
• Hole BRG21-235 intersected 162 metres grading 0.69% copper equivalent from 20 metres downhole depth in the upper portion of the hole
• Hole BRG21-236 intersected 357 metres grading 0.59% copper equivalent from 24 metres downhole depth with the hole ending in mineralization
• All 3 holes intersected high-grade near-surface mineralization within a well-developed chalcocite blanket including:
• 105 metres grading 0.74% copper equivalent from 15m depth in hole BRG21-234
• 90 metres grading 0.75% copper equivalent from 20m depth in hole BRG21-235
• 92 metres grading 0.84% copper equivalent from 24m depth in hole BRG21-236

The drilling completed in 2021 at Berg was the first program undertaken by Surge at the Berg Property and adds to the existing database of approximately 53,754 metres over 215 holes completed by prior operators. The Berg deposit forms a ring-like shape around a central intrusive stock, and is characterized by an extensive supergene enrichment blanket in the upper portions of the deposit. The historical drilling defined highly-fractured mineralized zones in the northeast and southern portions of the ring, and the 2021 drill program was designed to test the expansion potential of the near-surface high-grade mineralization in these areas, as well as to fill in data gaps within areas of lower drill density and provide fresh material for advanced metallurgical testwork.

Shane Ebert, President and VP Exploration, commented: "The first three holes reported in this release were designed as relatively shallow holes and thus bottom in mineralization at depths from surface of approximately 150 metres. All three holes successfully intersected the near-surface high-grade chalcocite blanket to depths of approximately 50 to 70 metres. Results in the northeast of the deposit area, taken together with historical data, outline a 300-metre wide zone of strong copper grades that remains open to the northeast, with much stronger molybdenum grades proximal to the central stock, seen weakening outward. Additional holes from the 2021 program will help to define the expansion potential and metal zonation within this zone, both important inputs to our ongoing work to outline development scenarios."

Details of Holes BRG21-234, 235, and 236

Assay results have been received for holes BRG21-234, 235, and 236. Hole BRG21-234 was located in the southern part of the Berg deposit and was mineralized from the start of bedrock at 15 metres depth to the end of the hole at 340.1 metres depth. The entire hole returned 325.1 metres grading 0.30% copper, 0.016% molybdenum, and 4.3 g/t silver (0.42% copper equivalent) including a near-surface higher grade zone associated with a chalcocite blanket that returned 105 metres grading 0.57% copper, 0.028% molybdenum, and 4.6 g/t silver (0.74% copper equivalent) from 15 to 120 metres depth.

Holes BRG21-235 and 236 were located in the northeast part of the Berg deposit. Hole BRG21-235 intersected 162 metres grading 0.37% copper, 0.075% molybdenum, and 4.3 g/t silver (0.69% copper equivalent) from 20 metres downhole depth before encountering the weakly mineralized central Berg Eocene composite intrusion which returned 145 metres grading 0.14% copper and 0.023% molybdenum from 182 metres depth to the end of the hole at 327 metres. Hole BRG21-235 also encountered the chalcocite blanket which returned 90 metres grading 0.43% copper, 0.073% molybdenum, and 4.5 g/t silver (0.75% copper equivalent) from 20 metres depth. From the start of bedrock at 8 metres to 20 metres depth, hole BRG21-235 intersected a highly oxidized leached cap that contains low copper but elevated gold and molybdenum, returning 12 metres grading 0.03% copper, 0.110% molybdenum, 0.05 g/t gold, and 4.9 g/t silver.

Hole BRG21-236 returned 357 metres grading 0.38% copper, 0.038% molybdenum, and 5.6 g/t silver (0.59% copper equivalent) from 24 metres depth to the end of the hole at 381 metres depth. Hole BRG21-236 also encountered the chalcocite blanket which returned 92 metres grading 0.52% copper, 0.070% molybdenum, and 4.8 g/t silver (0.84% copper equivalent) from 24 to 116 metres depth. Hole BRG21-236 contained a highly oxidized leached cap from the start of bedrock at 8.6 metres depth to 24 metres, returning 0.06% copper, 0.098% molybdenum 0.06 g/t gold, and 1.9 g/t silver.

Summary of Significant Assay Results for Berg Holes BRG21-234, 235, 236
Drill Hole	From (m)	To (m)	Width (m)1	CuEq (%)2	Cu (%)	Mo (%)	Au (g/t)	Ag (g/t)	Comments
BRG21-234	15	340.1 EOH	325.1	0.42	0.30	0.016	0.03	4.3
including	15	120	105	0.74	0.57	0.028	0.04	4.6	Chalcocite blanket
BRG21-235	20	182	162	0.69	0.37	0.075	0.03	4.3
including	20	110	90	0.75	0.43	0.073	0.04	4.5	Chalcocite blanket
BRG21-235	182	327 EOH	145	0.24	0.14	0.023	0.01	1.6	Eocene intrusion
BRG21-236	24	381 EOH	357	0.59	0.38	0.038	0.04	5.6
including	24	116	92	0.84	0.52	0.070	0.05	4.8	Chalcocite blanket

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 and to provide ease of comparison. No allowances have been made for recovery losses that may occur should mining eventually result. Calculations use metal prices of US$3.50/lb copper, US$1,800/oz gold, US$12/lb molybdenum, and US$22/oz silver, using the formula CuEq % = Cu % + (Au g/t x 0.750) + (Mo % x 3.43) + (Ag g/t x 0.0092).

 

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 Ootsa and Berg projects as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.

Upcoming Catalysts

The Company anticipates updating the market on results from the following activities:

• Drill results from 6 remaining drill holes from the 2021 Berg drill program
• Resource update for the Ootsa project
• Inversion and targeting results from regional airborne geophysics, and update on regional exploration pipeline
• Results from the West Seel metallurgical testwork program

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:
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 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/surge-copper-intersects-357-metres-of-0-59-cueq-including-92-metres-of-0-84-cueq-at-the-berg-deposit-301497325.html

SOURCE Surge Copper Corp.

FAQ

What are the latest assay results for Surge Copper Corp. from the Berg Deposit?

Surge Copper Corp. reported significant assay results including 325.1 metres at 0.42% copper equivalent from hole BRG21-234, 162 metres at 0.69% copper equivalent from hole BRG21-235, and 357 metres at 0.59% copper equivalent from hole BRG21-236.

When is Surge Copper Corp. expected to release additional drill results from the Berg Property?

Surge Copper Corp. anticipates updating the market on results from 6 remaining drill holes from the 2021 Berg drill program soon.

What is the significance of the Berg Deposit for Surge Copper Corp.?

The Berg Deposit is significant for Surge Copper Corp. as it offers a potential 70% interest from Centerra Gold, and the recent drilling highlights high-grade mineralization which may lead to resource expansion.

What is the copper equivalent (CuEq) grading reported for Surge Copper Corp.'s drill holes?

The reported copper equivalent grades include 0.42% CuEq for BRG21-234, 0.69% CuEq for BRG21-235, and 0.59% CuEq for BRG21-236.

How many drill holes were completed by Surge Copper Corp. at the Berg Deposit?

Surge Copper Corp. completed 9 drill holes at the Berg Deposit in 2021, with results for 6 additional holes pending.