Surge Copper Announces 10,000 Metre Drill Program Underway at Ootsa
SURGE
C O P P E R C O R P
PO Box 10351 888 - 700 West Georgia Street Vancouver, BC V7Y 1G5 P: 604-718-5454 F:604-646-2054
SURGE COPPER ANNOUNCES 10,000 METRE DRILL PROGRAM UNDERWAY AT OOTSA
October 29, 2020 , Vancouver, British Columbia – Surge Copper Corp. (the “Company” or “Surge
Copper”) (TSX-V:SURG), is pleased to announce a 10, 000 metre core drilling program at the
Company’s 100% owned Ootsa Property. The Ootsa Prop erty contains large advanced-stage
copper-gold resources and is located adjacent to th e Huckleberry Copper Mine in west central
British Columbia.
Two drills are active on the property, one is focused on testing the expansion potential of known
deposits, the second is testing new exploration targets along the gold rich Seel Trend.
Drill Target Highlights
One drill will focus on expanding the East and West Seel deposits and testing new
targets immediately adjacent to the deposits.
The second drill will focus on testing new geophysi cal targets recently identified in a
3D IP survey conducted this summer, including:
o The East Target , a new chargeability anomaly on the east end of th e Seel Trend
that is 900m long by 400m wide and interpreted to be a fault offset portion of the
high-grade East Seel Deposit.
o The West Target , a coincident chargeability and copper in soil ano maly on the
west end of the Seel Trend that extends in a curved pattern over an area 1000
metres long by 200 to 300 metres wide.
The Company is fully funded to significantly expand the 10,000 metre drill program as
conditions warrant.
An updated Corporate presentation containing additi onal information on the planned drilling
program is available here .
Dr. Shane Ebert CEO of Surge commented, “The Compan y has seen strong investor interest
following the announcement of the recently closed f inancing and the addition of exceptional
expertise to the Surge Copper team. The Company is now well capitalized and can advance a
multi track agenda of aggressive exploration and strategic copper district consolidation in British
Columbia. The announcement of this drill program at Ootsa is an exciting first step in our path
forward.”
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. The property contains NI 4 3-101 compliant resources of 224 million
tonnes in the Measured and Indicated categories with contained metals of 1.1 billion pounds of
copper, 1 million ounces of gold, and 20 million ounces of silver as summarized in the table below.
On February 9, 2016, the Company announced a positive Preliminary Economic Assessment (PEA)
for the Ootsa Property with potential for low capital cost, low risk and rapid pay back utilizing
existing infrastructure in the district with a cont ract mining and toll milling scenario. The
Company currently has no agreement in place to acce ss the existing mining and milling
infrastructure in the district.
Ootsa Project Pit Constrained Mineral Resource Estimate at $8.50/t NSR Cut-off Value
Category Tonnes
(‘000’s)
CuEq 1
%
Cu
%
Au
g/t
Mo
%
Ag
g/t
Cu
M lbs
Au
K oz
Mo
M lbs
Ag
K oz
Measured 187,148 0.45 0.23 0.15 0.021 2.8 934 916 85 17,089
Indicated 37,041 0.42 0.21 0.12 0.023 2.8 175 146 19 3,368
M&I 224,189 0.44 0.22 0.15 0.021 2.8 1,109 1,062 104 20,457
The current technical report supporting the resourc e statement and PEA is available on SEDAR or the Co mpany’s website at
www.surgecopper.com and has an effective date of January 2016. The resource estimate uses an $8.50 per tonne NSR cut-off
value. Mineral resources are not mineral reserves a nd by definition do not demonstrate economic viabil ity. There is no certainty
that all or any part of the mineral resource will be converted into mineral reserves. A ‘Measured Mineral Resource’ is that part of
a mineral resource for which quantity, grade or qua lity, densities, shape and physical characteristics are so well established that
they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to
support production planning and evaluation of the economic viability of the deposit. An ‘Indicated Mineral Resource’ is that part
of a Mineral Resource for which quantity, grade or q uality, densities, shape and physical characteristics can be estimated with a
level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning
and evaluation of the economic viability of the dep osit. 1Copper Equivalent (CuEq) calculations have been cal culated by Surge
management using long term consensus metal prices o f US $3/lb Cu, $1700 oz Au, $22 oz Ag, $10 lb Mo, an d assume 100%
recovery with no provision for treatment or refining costs.
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
“Shane Ebert”
President and Chief Executive Officer
For Further information, please contact:
Telephone: 250-964-2699
http://www.surgecopper.com
Or
Don Mosher
Corporate Development
Telephone: 604-685-6465
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 "ant icipates" or
the negative of these terms or other comparable ter minology. These statements are only predictions and involve
known and unknown risks, uncertainties and other fa ctors that may cause the Company’s actual results, level of
activity, performance or achievements to be materia lly different from any future results, levels of ac tivity,
performance, or achievements expressed or implied b y these forward-looking-statements. Such uncertaint ies and
risks may include, among others, actual results of the Company's exploration activities being differen t 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 su pplies in sufficient quantities and on a timely bas is, equipment
breakdown and bad weather. While these forward-look ing statements, and any assumptions upon which they are
based, are made in good faith and reflect the Compa ny's current judgment regarding the direction of it s business,
actual results will almost always vary, sometimes m aterially, from any estimates, predictions, project ions,
assumptions or other future performance suggests he rein. Except as required by applicable law, the Com pany does
not intend to update any forward-looking statements to conform these statements to actual results.