Surge Copper Initiates 2020 Exploration Program 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 INITIATES 2020 EXPLORATION PROGRAM AT OOTSA
June 17, 2020 , Vancouver, British Columbia – Surge Copper Corp. (the “Company” or “Surge
Copper”) (TSX-V:SURG), is pleased to announce the start of exploration at the Company’s 100%
owned Ootsa Property in British Columbia. Ootsa is an advanced stage exploration project with
large measured and indicated copper and gold resour ces located adjacent to the Huckleberry
Mine.
A high resolution and deep penetrating 3D Induced Polarization survey is being planned to cover
the entire Seel trend which hosts 2 separate copper -gold porphyry style deposits as well as
numerous untested exploration targets. A short interval magnetotelluric (MT) survey will also be
conducted to investigate the deeper parts of the po rphyry systems. The objectives of the large
and detailed geophysical survey will be to help target higher grade copper-gold zones associated
with potassic alteration, look for the fault offset portion of the high grade East Seel deposit, image
the roots of the systems, and better constrain and define late faulting which bounds the known
mineralized zones.
The survey is expected to take about 3 weeks to complete with final results available later in the
summer.
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 43-101 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
%
Cu
%
Au
g/t
Mo
%
Ag
g/t
CuEq
M lbs
Cu
M lbs
Au
K oz
Mo
M lbs
Ag
K oz
Measured 187,148 0.38 0.23 0.15 0.021 2.8 1,568 934 916 85 17,089
Indicated 37,041 0.35 0.21 0.12 0.023 2.8 286 175 146 19 3,368
M&I 224,189 0.37 0.22 0.15 0.021 2.8 1,854 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 $8.50 per tonne NSR cut-off value.
Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. 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 quality, dens ities, shape and physical characteristics are so we ll established that they can
be estimated with confidence sufficient to allow th e appropriate application of technical and economic parameters, to support
production planning and evaluation of the economic viability of the deposit. An ‘Indicated Mineral Re source’ is that part of a
Mineral Resource for which quantity, grade or quality, 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 deposit . Copper Equivalent (CuEq) calculations are based on base case metal price
(US$3/lb Cu, US$1260/oz Au, US$10.30/lb Mo, and US$1 7/oz Ag) and process recovery assumptions, and take into account
smelter payable rates and refining costs. M&I = mea sured and indicated . The resource update and Preliminary Economic
Assessment was completed by P&E Mining Consultants I nc. in accordance with National Instrument 43-101 S tandards of
Disclosure for Mineral Projects.
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.