Surge Copper Intersects 418 metres grading 0.38% CuEq including
PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V Trading Symbol: SURG
OTCQB: SRGXF
Frankfurt Trading Symbol: G6D2
Telephone: +1 (604) 781-5454
Email: [email protected]
January 31, 2024
NEWS RELEASE
Surge Copper Intersects 418 metres grading 0.38% CuEq including
40 metres grading 0.47% CuEq at the Berg Deposit
January 31, 202 4, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQX: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce
assay results from drill hole BRG23 -245, the third and final hole of the Company’s 2023 drill ing
program testing the deeper portions of the large Berg copper-molybdenum deposit in west-central
British Columbia. An interactive 3D model including all results from the 2023 drilling can be viewed
here: https://vrify.com/decks/15092
Highlights
• Hole BRG23-245 intersected 646 metres grading 0.33% CuEq2 (0.21% copper, 0.034%
molybdenum, 3.3 g/t silver, and 0.02 g/t gold) from 14 metres depth including 418 metres
grading 0.38% CuEq (0.26% copper, 0.032% molybdenum, 3.5 g/t silver, and 0.02 g/t
gold) (copper equivalent “CuEq” is reported net of by-product recoveries, please see Table
1, footnote 2 for details)
• The hole encountered a zone of higher grade hypogene mineralization returning 40
metres grading 0.47% CuEq (0.35% copper, 0.030% molybdenum, 4.1 g/t silver, and 0.03
g/t gold) from 352 metres depth
• Hole BRG23-245 ecountered a late quartz-carbonate-basemetal silver vein returning 1.53
metres grading 2110 g/t silver from 303 metres depth , which is the highest grade silver
vein encountered in Berg drilling to date (capped at 10 g/t in the above composite intervals)
• Combined the 3 deeper holes drilled in 2023 ( BRG23-243, 244, 245 ) demonstrate
excellent continuity of Berg mineralization to depth , increase the understanding of the
deeper portions of the Berg deposit, will provide fresh material for planned metallurgical
test work, and will help improve a future resource estimate
Leif Nilsson, Chief Executive Officer, commented: “Hole 245 is another great result from the 2023
deep drilling program at Berg , encountering a long interval of consistently mineralized material
from near surface. All three holes – which were either 100 metre step-outs or infilling 200 metre
gaps – drilled important periphery areas of the deposit adjacent to good grades but lacking drill
density, so should have a positive impact on a future resource estimate.”
Surge Copper Corp. 2
Hole BRG23-245 is a 100-metre step out located on the northwest side of the Berg deposit within
an area of low drill density and limited depth information. The hole was designed to intersect the
Berg Stock at depth and provide additional information on the deeper portions of the Berg deposit,
potentially upgrade Inferred resources to the Measured and Indicated categories, and provide
fresh material for metallurgical testwork. The hole was drilled toward the east at a dip of -65
degrees to a total depth of 660 metres. The hole encountered weak but variably developed
secondary chalcocite blanket from 14 to 110 metres depth and encountered veined and
mineralized rock to the end of the hole at 660 metres depth.
The hole returned 646 metres grading 0.33% copper equivalent ( 0.21% copper, 0.034%
molybdenum, 3.3 g/t silver, and 0.02 g/t gold) from 14 metres depth to the end of the hole at 660
metres depth. Within this interval is a higher-grade zone of hypogene mineralization returning 40
metres grading 0.47% copper equivalent (0.35% copper, 0.030% molybdenum, 4.1 g/t silver, and
0.03 g/t gold) from 352 metres depth.
Copper grades decrease slightly within about 30 metres of the Berg Stock contact, which was
intersected at 464 metres depth , whereas molybdenum grades remain strong to the end of the
hole at 660 metres depth. The hole encountered a veined and mineralized intrusive matrix breccia
from 622 to the end of the hole at 660 metres, containing both andesite and intrusive clasts in a
porphyritic intrusive matrix.
Hole BRG23 -245 encountered a silver rich quartz -carbonate-sphalerite-galena-pyrite-
chalcopyrite vein that returned 2110 g/t silver over 1.53 metres from 303 metres depth. This vein
was oriented at 30 degrees to the axis of the drill core and is estimated t o have a true width of
about 0.3 metres. The Berg deposit is known to contain localized zones with late silver bearing
quartz-carbonate basemental veins. This interval of 2110 g/t silver is the highest grade silver vein
encountered on the Berg project to date.
Surge Copper Corp. 3
Figure 1. Berg drill hole location map showing 2023 drill holes and the location of cross
section C – C’.
Surge Copper Corp. 4
Figure 2. Cross section C-C’ showing hole BRG23-245. See Figure 1 for section location.
Table 1. Summary of Assay Results for Hole BRG23-245
Drill Hole From
(m)
To (m) Width
(m)1
CuEq
(%)2
Cu (%) Mo (%) Ag (g/t) Au (g/t)
BRG23-245 14.0 660.0
EOH
646.0 0.33 0.21 0.034 3.34 0.02
including 14.0 432.0 418.0 0.38 0.26 0.032 3.54 0.02
including 352.0 392.0 40.0 0.47 0.35 0.030 4.14 0.03
BRG23-245 303.0 304.5 1.533 16.19 4.49 0.025 2110 0.34
1. Width refers to drill hole intercepts; true widths have not been determined.
2. CuEq (copper equivalent) is provided for illustrative purposes only to express the combined abundance of
copper, molybdenum, silver, and gold, with secondary metals calculated net of assumed metallurgical recoveries
for using deposit average recovery assumptions of 76% for molybdenum, 65% for silver, and 55% for gold. The
calculation uses metal prices of US$4.00/lb copper, US$15.00/lb molybdenum, US$23.00/oz silver, and
US$1,800/oz gold resulting in the formula: CuEq [%] = Cu [%] + 2.85 x Mo [%] + 0.0055 x Ag [g/t] + 0.3609 x Au
[g/t].
3. Late quartz-carbonate-sulfide vein trending 30 degrees to core axis with an estimate true width of 0.3m.
4. High grade silver intervals were capped at 10 g/t in composites.
Surge Copper Corp. 5
Figure 3. Photos from BRG23-245. Top left, mineralized andesite with disseminated
chalcopyrite (ccpy) and pyrite (py) and cut by late quartz-molybdenite veins, 377 metres
depth. Bottom left, laminated quartz-molybdenite vein at 253 metres depth. Right,
intrusive matrix breccia with intrusive and andesite clasts from 642 to 648 metres depth.
Figure 4. Drill rig during drilling of hole BRG23-245.
2023 Drill Program
The 2023 Berg drill program operated from late July to early September 2023, and 3 diamond
core holes (BRG23-243, 244, and 245) totalling 2077 metres of drilling were completed. The
program was designed to learn more about the deep characteristics of the deposit while also
providing fresh material for metalurgical testwork and converting Inferred resources to Measured
Surge Copper Corp. 6
and Indicated in areas of low drill density . Assay results for all three holes have now been
released.
Ootsa Permit Renewal
The Company is also pleased to announce that it has received a new five -year area based
exploration permit under the BC Mines Act for its Ootsa Property from the British Columbia
Ministry of Energy, Mines, and Low Carbon Innovation.
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 3 3 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.
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 owns 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 Berg Project, for which it announced a maiden PEA
in June 2023 outlining a large -scale, long-life project with a simple design and high outputs of
critical minerals located in a safe jurisdiction near world -class infrastructure. The PEA highlights
base case economics including an NPV8% of C$2.1 billion and an IRR of 20% based on long -
term commodity prices of US$4.00/lb copper, US$15.00/lb molybdenum, US$23.00/oz silver, and
US$1,800/oz gold. The Berg deposit contains pit-constrained 43 -101 compliant resources of
copper, molybdenum, silver, and gold in the Measured, Indicated, and Inferred categories.
The Company also 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.
On Behalf of the Board of Directors
“Leif Nilsson”
Surge Copper Corp. 7
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 state ments 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, d elays 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 Co mpany does not
intend to update any forward-looking statements to conform these statements to actual results.