Surge Copper Intersects 422 metres of 0.52% CuEq including 200 metres of 0.60% CuEq at West Seel and Provides Update on Resource Estimate
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]
November 24, 2021
NEWS RELEASE
Surge Copper Intersects 422 metres of 0.52% CuEq including 200 metres of 0.60% CuEq
at West Seel and Provides Update on Resource Estimate
November 24, 2021, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQX: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce
complete assay results for hole S21-268 from the Company’s 100% owned Ootsa Property in
British Columbia, and an update on the Company’s ongoing resource update for the Ootsa
Property. The Company previously released the results for the top portion of hole S21-268 (see
October 12, 2021 Press Release).
Highlights
Hole S21-268 intersected 422 metres grading 0.52% copper equivalent from 20 metres
downhole depth, including 200 metres grading 0.60% copper equivalent
This includes a zone of higher grade mineralization returning 0.69% copper equivalent
over 76 metres from 324 metres depth
Complete assay results have been received for hole S21-268 with significant results summarized
in the table below (including the previously reported top portion of the hole). Hole S21-268 was
collared toward the southern end of the approximately 500 metre zone where mineralization at
West Seel comes to bedrock surface, and intercepted a broad zone of strong continuous
mineralization. A drill hole plan map and cross section are included below.
Exploration hole S21-271 tested a chargeability high located to the south of the West Seel deposit
and encountered a pyrite halo with no significant intervals of mineralization. These are the final
results from the infill and expansion drilling program targeting the main East and West Seel
porphyry deposits at the Ootsa Property which will be used to conduct an updated resource
estimate for the Ootsa Property. Thus far, following this news release, results from 26 holes from
the Company’s 2021 Ootsa summer drilling program have been released, with results pending
from 46 additional holes testing exploration targets in the near vicinity of the Seel and Ox deposits,
including the Seel Breccia Zone. An additional nine core holes are also pending from the
Company’s 2021 Berg drill program.
Surge Copper Corp. 2
Figure 1. Plan map of drill hole locations for 2021 Ootsa summer and fall drill program.
Summary of Assay Results for Selected Holes
Drill
Hole
From
(m)
To (m) Width
(m)1
CuEq
(%)2
Cu (%) Au (g/t) Mo (%) Ag (g/t)
S21-268 20 442 422 0.52 0.26 0.17 0.015 5.4
including 226 426 200 0.60 0.32 0.20 0.016 5.3
including 324 400 76 0.69 0.37 0.23 0.019 5.5
S21-268* 20 290 270 0.47 0.24 0.14 0.014 5.5
1. Width refers to drill hole intercepts; true widths have not been determined.
2. CuEq (copper equivalent) has been used to express the combined value of copper, gold, molybdenum, and
silver as a percentage of copper, and is provided for illustrative purposes only and to provide ease of
comparison. No allowances have been made for recovery losses that may occur should mining eventually
result. Calculations use metal prices of US$3.00/lb copper, US$1,800/oz gold, US$10/lb molybdenum, and
US$22/oz silver, using the formula CuEq % = Cu % + (Au g/t x 0.875) + (Mo % x 3.33) + (Ag g/t x 0.0107).
* Previously reported on October 12, 2021.
Surge Copper Corp. 3
Figure 2. West Seel cross section C-C’ showing results for holes S21-228, 231, 233, 239,
256, and S21-268. See Figure 1 for section location.
Resource Estimate Update
The Company has engaged Advantage Geoservices Limited to conduct a mineral resource
estimate in accordance with National Instrument 43-101. The resource estimate will include the
East Seel, West Seel, and Ox porphyry deposits, and will include all relevant resource drilling
completed during the 2018, 2020, and 2021 core drilling programs. The estimation process is well
underway, and the Company will provide further updates as the process is nearing completion.
Upcoming Catalysts and Marketing Events
Surge Copper Corp. 4
The Company anticipates updating the market on results from the following activities:
Drill results from 46 remaining drill holes from 2021 Ootsa drill program
Drill results from 9 drill holes from 2021 Berg drill program
Resource update for the Ootsa project
Inversion and targeting results from r egional airborne geophysics, and update on regional
exploration pipeline
The Company also announces its participation in the following upcoming investor conferences:
Mines and Money London, December 1-2
Vancouver Resource Investment Conference (VRIC), January 16-17
AME Roundup, January 31 – February 3
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 ALS Geochemistry 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.
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, owned by Imperial Metals. The Ootsa Property contains pit constrained
NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured and
Indicated categories.
The Company is also earning into 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 and Indicated categories. Combined, the adjacent Ootsa and Berg properties give
Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over four
advanced porphyry deposits.
On Behalf of the Board of Directors
Surge Copper Corp. 5
“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 impli ed 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.