Surge Copper Intersects 422 metres of 0.52% CuEq including 200 metres of 0.60% CuEq at West Seel and Provides Update on Resource Estimate
Surge Copper Corp. (TSXV: SURG, OTCQX: SRGXF) has announced the complete assay results for hole S21-268 at its 100% owned Ootsa Property in British Columbia. The results showed an intersection of 422 metres grading 0.52% copper equivalent, with a higher-grade zone of 0.69% copper equivalent over 76 metres. The resource update is being prepared by Advantage Geoservices, incorporating data from previous drilling programs. The company is also awaiting results from 46 additional drill holes, with a strong focus on expanding its mineral resource base.
- Hole S21-268 exhibited strong results with 422 metres grading 0.52% copper equivalent.
- Higher-grade mineralization reported with 0.69% copper equivalent over 76 metres.
- Resource estimate update in progress, which could enhance resource valuation.
- Exploration hole S21-271 encountered no significant intervals of mineralization.
- Pending results from a large number of drill holes may delay full resource evaluation.
VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce complete assay results for hole S21-268 from the Company’s
Highlights
- Hole S21-268 intersected 422 metres grading
0.52% copper equivalent from 20 metres downhole depth, including 200 metres grading0.60% copper equivalent - This includes a zone of higher grade mineralization returning
0.69% copper equivalent over 76 metres from 324 metres depth
Complete assay results have been received for hole S21-268 with significant results summarized in the table below (including the previously reported top portion of the hole). Hole S21-268 was collared toward the southern end of the approximately 500 metre zone where mineralization at West Seel comes to bedrock surface, and intercepted a broad zone of strong continuous mineralization. A drill hole plan map and cross section are included below.
Exploration hole S21-271 tested a chargeability high located to the south of the West Seel deposit and encountered a pyrite halo with no significant intervals of mineralization. These are the final results from the infill and expansion drilling program targeting the main East and West Seel porphyry deposits at the Ootsa Property which will be used to conduct an updated resource estimate for the Ootsa Property. Thus far, following this news release, results from 26 holes from the Company’s 2021 Ootsa summer drilling program have been released, with results pending from 46 additional holes testing exploration targets in the near vicinity of the Seel and Ox deposits, including the Seel Breccia Zone. An additional nine core holes are also pending from the Company’s 2021 Berg drill program.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
| 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) | |
| S21-268 | 20 | 442 | 422 | 0.52 | 0.26 | 0.17 | 0.015 | 5.4 | |
| including | 226 | 426 | 200 | 0.60 | 0.32 | 0.20 | 0.016 | 5.3 | |
| including | 324 | 400 | 76 | 0.69 | 0.37 | 0.23 | 0.019 | 5.5 | |
| S21-268* | 20 | 290 | 270 | 0.47 | 0.24 | 0.14 | 0.014 | 5.5 | |
| 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 | ||||||||
| * | Previously reported on October 12, 2021. | ||||||||
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
Resource Estimate Update
The Company has engaged Advantage Geoservices Limited to conduct a mineral resource estimate in accordance with National Instrument 43-101. The resource estimate will include the East Seel, West Seel, and Ox porphyry deposits, and will include all relevant resource drilling completed during the 2018, 2020, and 2021 core drilling programs. The estimation process is well underway, and the Company will provide further updates as the process is nearing completion.
Upcoming Catalysts and Marketing Events
The Company anticipates updating the market on results from the following activities:
- Drill results from 46 remaining drill holes from 2021 Ootsa drill program
- Drill results from 9 drill holes from 2021 Berg drill program
- Resource update for the Ootsa project
- Inversion and targeting results from regional airborne geophysics, and update on regional exploration pipeline
The Company also announces its participation in the following upcoming investor conferences:
- Mines and Money London, December 1-2
- Vancouver Resource Investment Conference (VRIC), January 16-17
- AME Roundup, January 31 – February 3
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.
About Surge Copper Corp.
The Company owns a
The Company is also earning into a
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.
FAQ
What were the results of the S21-268 drill hole by Surge Copper Corp. (SRGXF)?
Is there an update on the resource estimate for Surge Copper Corp.'s Ootsa Property?
What future activities is Surge Copper Corp. planning regarding its drilling programs?
When is Surge Copper Corp. participating in investor conferences?
What significant challenges did the exploration hole S21-271 face?
