Surge Copper Announces 2023 Surface Exploration Results Identifies New Porphyry Exploration Target Adjacent to Berg
PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V: SURG
OTCQB: SRGXF
Frankfurt: G6D2
Telephone: +1 (604) 718-5454
Email: [email protected]
February 7, 2024
NEWS RELEASE
Surge Copper Announces 2023 Surface Exploration Results
Identifies New Porphyry Exploration Target Adjacent to Berg
February 7, 2024 , Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQB: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce
exploration results from 2023 surface work on the Berg Property in west-central British Columbia.
Highlights
• 3149 soil samples and 87 rock chip and grab samples were collected and analysed as
part of the 2023 Berg exploration program
• Two priority exploration targets with porphyry copper potential are highlighted
• A large exploration target immediately adjac ent to the Berg deposit has been identified
and termed the SW Berg Target. This target contains a similar geophysical and geologic
expression as the Berg deposit, contains leached and iron oxide stained surface
exposures, and is partially outlined by a 600 metre by 300 metre copper in soil anomaly.
Given its location and large geophysical and geochemical expression the SW Berg
Target has become the highest priority new exploration target on the Berg Property
• The NE Sibola Target has been expanded and contains a copper in soil anomaly 1200
by 800 metres within a flat till-covered valley, and the anomaly remains open to the north.
This target is a strong candidate for ground geophysics and if warranted drill testing
Leif Nilsson, Chief Executive Officer, commented: “In parallel with the 2023 deep drilling campaign
at the Berg deposit, Surge’s field team conducted regional reconnaissance surface exploration
across the northern portion of the Berg -Huckleberry-Ootsa district on our 100% owned Berg
Property. This work represents a systematic follow -up on the significant district -wide regional
program conducted in 2022 (see April 19, 2023 press release ), which itself built upon the 2021
deep-penetrating ZTEM geophysical survey across the district (see April 12, 2022 press release).
These programs have delivered multiple new early-stage discoveries and built out an impressive
exploration pipeline within this large , critical minerals district. We are particularly excited about
the new SW Berg Target. Given its proximity to the Berg deposit, it is straightforward to see how
any future exploration success at this target could quickly have a positive impact on the Berg
Project.”
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During 2023 Surge Copper collected 3149 soil samples, 87 rock samples, and drilled 3 core holes
into the Berg deposit for 2077 metres of drilling. As a result of surface sampling and prospecting,
2 new large undrilled porphyry targets have been identified , and several new areas containing
geochemical anomalies that warrant further exploration work have been discovered.
A large exploration target immediately adjacent to the Berg deposit has been identified and is
termed the SW Berg Target. This target is described below and due to its immediate proximity to
the advanced Berg Cu-Mo-Ag-Au resource has become the highest priority new exploration target
on the Berg Property. The East Sibola copper in soil target has been significantly expanded during
2023 work and is a second high priority untested exploration target. New early stage targets have
also been identified at NE Fire and an area immediately north of the N. Whiting Creek Target.
Figure 1. Berg Project 2023 surface sample and drill hole location map showing new
target discoveries.
SW Berg Target
Soil sampling in 2023 has identified a 600 by 300 metre and open copper in soil anomaly located
immediately southwest of the Berg deposit at the SW Berg Target. This target area has
geophysical and surface geochemical similarities to Berg and has never been drill tested. Figure
2 shows a compilation map over the Berg - SW Berg Target area with a 2007 induced polarization
geophysical survey that partially covers the SW Berg Target. The Figure shows a prominent
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resistive feature at the SW Berg Target that remains open to the west and has a similar expression
and dimensions as a resistive feature that corresponds to the Berg Stock. This resistive feature
could represent a second mineralizing intrusion , similar to the Berg Stock, and is a compelling
exploration target. The SW Berg Target area correlates with a zone of strong chargeability that
also remains open to the west.
A cross section through the ZTEM 3D resistivity and magnetic models is shown on Figure 3. The
SW Berg Target shows similar ZTEM resistivity and magnetic expressions as the mineralized
Berg deposit, where mineralization is associated with relatively conductive rocks (blue on Figure
3) with low magnetic values. Limited available geologic data combined with geophysical data
indicate the new copper in soil anomaly at the SW Berg Target could potentially occur near the
contact between an intrusive stock and andesite volcanic wall rock. This geologic setting is
significant as the best hypogene mineralization at Berg is located within wall rocks proximal to the
Berg Stock.
Figure 2. Compilation map of the SW Berg Target showing resistivity and copper values
in 2023 soil and rock samples.
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Prospecting at the SW Berg Target has identified large areas of intensely iron oxide stained and
strongly leached outcrops with remnants of stockwork veining as shown in Figure 4. A grab
sample from one of these leached outcrops, sample 103 859, returned 0.07% copper, 0.026%
molybdenum, 4.1 g/t silver, and 0.04 g/t gold. It should be noted that the values for molybdenum,
silver, and gold from the outcrop sample are similar to deposit averages for these metals at Berg,
whereas copper within this surficial environment is expected to be leached, similar to exposures
located immediately above the Berg deposit.
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Figure 3. Cross section A – A’ through the Berg Deposit and SW Berg Target showing
ZTEM 3D resistivity model (top) and magnetic model (bottom). The location of section A –
A’ is shown on Figure 2.
The SW Berg Target remains at an early stage and additional detailed work is required to better
understand the geology and exploration potential of the zone. The similarities in geophysical and
surface geochemical expression as Berg, the large scale of the target , and the location
immediately adjacent to the advanced Berg deposit, make the SW Berg Target a compelling
target that will be prioritized for exploration work and evaluation in 2024.
Figure 4. Surface outcrop from the SW Berg Target near sample 103859. The zone
contains strong iron oxide stained, leached, and stockwork veined rock exposed over a
large area.
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NE Sibola Target
A copper and molybdenum in soil anomaly on the NE end of the large Sibola alteration system
has been expanded and better defined during 2023. This soil anomaly is termed the NE Sibola
Target and has now been defined over an area 1200 metres by 800 metres and remains partially
open to the north where a large swamp prevents B-horizon soil sampling. The anomaly contains
copper in soil values around 100 to 200 ppm, and molybdenum in soil values around 5 to 20 ppm,
values which are considered very significant for a till-covered area. No outcrop was found in the
immediate area of the soil anomaly but a large exposure of unmineralized altered and pyritic rock
was sampled in a stream canyon about 500 metres to the southwest and possibly represent s
distal pyritic alteration around a porphyry system. The next steps for this target will include ground
based induced polarization surveying and drill testing if warranted.
Figure 5. NE Sibola Target copper in soil map.
A soil line on the far west side of the Sibola area has intersected a new continuous low -level
copper in soil anomaly that extends for 500 metres along the line. This new anomaly occurs within
a flat till covered valley and warrants additional follow up.
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New Early Stage Anomalies
A zone of patchy copper and molybdenum in soil values over an area 800 by 250 metres has
been identified in the NE part of the Berg claim block and is termed the NE Fire Target (see Figure
1). Copper values up to 100 to 200 ppm occur within a till covered area near the contact zone of
a Bulkley Suite diorite intrusive and Telkwa Formation volcanic rocks. No outcrop was found within
the main soil anomaly, however, adjacent to the anomaly altered diorite with thin quartz veinlets
and minor disseminated pyrite were discovered. This target remains a candidate for future
exploration work.
Seventeen rock samples were collected during reconnaissance prospecting from an area north
of the N. Whiting Creek target during 2022. These samples were assayed in 2023. In the area
malachite and azurite copper staining was identified in altered volcanic rocks with varying degrees
of veining. The samples returned copper values ranging from below detection to 0.52%, with 4
samples returning greater than 0.1% copper. Follow up surface evaluation is required to better
understand the potential of this new area.
Share Based Compensation
The Company announces that all of its executive management team members have agreed to
receive a portion of their 2023 annual discretionary compensation in the form of common shares
of the Company, on the basis of the 5 -day volume weighted average price on the TSX Venture
Exchange (being $0.08 5 and calculated as of February 1, 2024), which would result in the
issuance of 2,146,816 common shares of the Company (the “Employee Shares”). The Employee
Shares are subject to TSX Venture Exchange acceptance and disinterested shareholder approval
at the Company’s upcoming annual general meeting and will be subject to a four month hold.
Quality Control
Soil samples consist of B-horizon samples collected in kraft soil bags by Surge field personel. Soil
samples were analysed by portable X-ray flouresence (pXRF) with analysis completed through
thin plastic sandwich bags on the fine fraction of dried soil samples within an enclosed XRF
workstation using an Olympus Innov -X Delta series pXRF unit equipped with a 4 W 40 kV Xray
Tube and a Rh anode excitation source. Samples were analysed using the factory set soil mode
utilizing 3 beams with a 105 second run tim e. Standards, blanks, and duplicate quality control
samples were included in pXRF analyses and checked to verify sample results. Rock samples
were sent to Actlabs in Kamloops, British Columbia for analysis (which is ISO/IEC 17025
accredited), with g old assayed using a 30g fire assay method and 3 3 additional elements
analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion.
Element highs, lows, and averages for the 2023 rock and soil samples are summarized in the
tables below.