Surge Copper Discovers High-Grade Silver at Blackjack Intersecting 1,430 g/t Silver over 2 Metres within 46 Metres Grading 99 g/t Silver
PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V Trading Symbol: SURG
OTCQX: SRGXF
Frankfurt Trading Symbol: G6D2
Telephone: +1 (604) 781-5454
Email: [email protected]
December 15, 2022
NEWS RELEASE
Surge Copper Discovers High-Grade Silver at Blackjack Intersecting
1,430 g/t Silver over 2 Metres within 46 Metres Grading 99 g/t Silver
December 15, 2022, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQX: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce
complete assay results for 1 hole from the first phase of the Company’s 2022 regional exploration
program which was focused on target drilling within the 100% owned Ootsa Property in central
British Columbia.
Highlights
Hole BJ22-01 at the Blackjack Target tested a large ZTEM geophysical anomaly and has
discovered a wide zone of silver-gold-zinc-lead mineralization in addition to 3
individual high-grade silver veins
Results include 66 metres grading 71.3 g/t silver including 46 metres grading 99.4 g/t
silver with higher grade intercepts returning:
1430 g/t silver over 2 metres
346 g/t silver over 2 metres
180 g/t silver over 2 metres
The Blackjack Target represents a very large and highly altered intrusive centre that is
highly prospective for precious metal mineralization and wide open for further expansion
and discovery
Results for 30 additional drill holes from the Ootsa and Berg 2022 regional exploration
program are pending
Assay results have been received for BJ22-01 at the Blackjack Target located approximately 4
kilometres east of the Seel porphyry deposit on the Ootsa Property. Significant results are
summarized in the table below. Select hole locations and orientations are shown on the drill hole
map and are illustrated on the cross-section below.
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Blackjack
Hole BJ22-01 was drilled into the Blackjack Target testing a large ZTEM geophysical conductor
and has confirmed the ZTEM target is related to intense hydrothermal alteration, encountering
highly altered porphyritic intrusion from 62.8 to 400 metres depth, with altered volcanic and
sedimentary rocks encountered to the end of the hole at 753 metres depth. This highly altered
intrusive centre could conceptually sit above a porphyry system, and provides a kilometre scale
exploration target prospective for near surface epithermal gold-silver, silver-gold-lead-zinc veins
and breccias, and copper-gold-moly porphyry mineralization at depth.
Figure 1. Ootsa Property 2022 Drill Hole Location Map showing the Blackjack Target.
Hole BJ22-01 intersected a wide zone of brecciation, veins, and faulting containing silver-gold-
zinc-lead mineralization associated with quartz, iron carbonates, and clay, along with strong pyrite,
and variable sphalerite, galena, and chalcopyrite from 286 to 352 metres depth. The zone
returned 66 metres grading 71.3 g/t silver, 0.11 g/t gold, 0.30% zinc, and 0.22% lead, including
46 metres grading 99.4 g/t silver, 0.14 g/t gold, 0.35% zinc, and 0.29% lead. Included in this
interval are 3 zones of vein and fault hosted mineralization returning 1430 g/t silver over 2 metres,
346 g/t silver over 2 metres, and 180 g/t silver over 2 metres.
This new discovery of high grade silver mineralization is interpreted to be a steeply dipping breccia
and vein zone and remains open in all directions.
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Figure 2. Blackjack Target E-W cross-section showing results for hole BJ22-01. See
Figure 1 for section location. Silver Equivalent (Ag Eq) assumes metal prices of $22/oz
silver, $1,800/oz gold, $1.45/lb zinc, $1/lb lead, and $3/lb copper with no allowances made
for recovery losses.
Figure 3 shows hole BJ22-01 on a vertical section showing the ZTEM resistivity model. The best
silver and zinc grades occur above a large conductor (blue) at the transition between resistive
and conductive rocks, and the Figure highlights the large scale of the Blackjack exploration target
which remains largely untested.
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Figure 3. Blackjack Target E-W cross-section showing ZTEM resistivity and hole BJ22-01.
See Figure 1 for section location.
Summary of Assay Results for BJ22-01
Drill
Hole
From
(m) To (m) Width
(m)1 Ag g/t Au
g/t Cu % Zn % Pb %
BJ22-01 286 352 66 71.3 0.1 0.08 0.30 0.22
including 300 346 46 99.4 0.1 0.09 0.35 0.29
including 304 306 2 1430.0 0.4 1.31 0.18 0.06
including 334 336 2 346.0 0.5 0.09 1.18 0.70
including 344 346 2 180.0 0.2 0.49 1.67 1.96
BJ22-01 472 474 2 53.1 0.0 0.00 0.31 0.88
BJ22-01 554 556 2 37.0 0.0 0.00 0.47 0.55
1. Width refers to drill hole intercepts. For hole BJ22-01 true widths are interpreted to be
approximately 75% of drill hole intercepts based on limited geological data.
The Blackjack discovery has similarities to past underground silver producers in the region that
are spatially associated with porphyry systems, including the Emerald Glacier and Silver Queen
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Mines. These both contain veins and vein zones, typically 1 to 3 metres wide, that show potential
to host mineralized zones ranging from hundreds of thousands to millions of tonnes in size.
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 Actlabs 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.
Cancellation of Stock Options
The Company has cancelled an aggregate of 5,765,000 stock options (the “Options”) issued
pursuant to its stock option plan on January 4, 2021. The Options were granted to certain officers,
directors, employees, and consultants of the Company, and had an exercise price of $0.69 and
expiry date of January 4, 2026. The Options were voluntarily surrendered by the holders. After
the cancellation the Company will have a total of 5,500,000 options outstanding.
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 controls 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 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.
The Company is also earning 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, Indicated, and Inferred categories. Combined, the adjacent Ootsa and Berg properties
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give Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over three
advanced porphyry deposits and multiple copper, gold, and silver exploration targets.
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: [email protected]
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.