Surge Copper Intersects 484 Metres of 0.42% CuEq at West Seel, Including 70 Metres of 0.63% CuEq from 46 Metres Depth
Surge Copper Corp.
PO Box 10351
888-700 West Georgia Street
Vancouver, BC, V7Y 1G5
t: +1 604 718 5454
Surge Copper Intersects 484 Metres of 0.42% CuEq at West Seel, Including 70
Metres of 0.63% CuEq from 46 Metres Depth
February 24, 2021, Vancouver, British Columbia – Surge Copper Corp. (TSXV:SURG)
(“Surge” or the “Company”) is pleased to announce assay results for multiple resource
definition and exploration hol es from the Company’s 100% owned Ootsa Property in
British Columbia.
A 15,000-metre drill program is currently underway along the Seel Trend at Ootsa. One
drill is focused on testing the expansion and near-deposit exploration potential at the West
and East Seel porphyry Cu-Au-Mo-Ag deposits, and the second is testing new exploration
targets. Assays for 15 holes are pending and wi ll be released regularly as they are
received and interpreted.
Highlights
Hole S20-220 successfully traced higher-g rade mineralization at West Seel to
near-surface, highlighted by 70.0 metres of 0.63% CuEq1 (0.26% copper, 0.26 g/t
gold, 0.019% molybdenum, 7.1 g/t silver), starting from 46.0 metres downhole,
within a total intercept of 484.0 metres of 0.42% CuEq (0.19% copper, 0.14 g/t
gold, 0.018% molybdenum, 3.9 g/t silver)
Hole S20-224 intersected 400.0 metres of 0.37% CuEq (0.18% copper, 0.11 g/t
gold, 0.018 % molybdenum, 3.3 g/t silver) from 34.0 metres, including 50.0 metres
of 0.53% CuEq (0.25% copper, 0.17 g/t gold, 0.018% molybdenum, 6.2 g/t silver)
beginning at 102.0 metres downhole depth
Shane Ebert, VP Exploration, commented: “West Seel is known to contain a large high-
grade zone at depth, and part of the 2020-2021 field program is aimed at tracing some of
this high-grade mineralization nearer to surf ace. We are very pleased to see multiple
holes from this program ident ifying long intercepts of conti nuous mineralization starting
near bedrock surface, and locally containing higher-grade, near surface zones which are
expected to enhance open pit characteristics of the deposit.”
Holes S20-220 and S20-224
Hole S20-220 was drilled at the West Seel deposit at an azimuth of 208 degrees and a
dip of -50 degrees to a total depth of 1, 069.6 metres. Hole S20-224 was drilled on the
same section as S20-220 at an azimuth of 24 degrees and a dip of -50 degrees to a total
depth of 779 metres. Both holes have succe ssfully encountered long intercepts of
mineralization and have locally extended high grades to near bedrock surface. Assay
results for holes S20-220 and S20-224 are tabulated below.
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Summary of Assay Results for Holes S20-220 and S20-224
Drill
Hole
From
(m)
To (m) Width
(m)1
CuEq
(%)2
Cu (%) Au
(g/t)
Mo (%) Ag
(g/t)
S20-220 46.0 530.0 484.0 0.42 0.19 0.14 0.018 3.9
including 46.0 116.0 70.0 0.63 0.26 0.26 0.019 7.1
including 452.0 530.0 78.0 0.62 0.27 0.20 0.039 3.5
S20-224 34.0 434.0 400.0 0.37 0.18 0.11 0.018 3.3
including 102.0 152.0 50.0 0.53 0.25 0.17 0.018 6.2
including 298.0 330.0 32.0 0.60 0.30 0.19 0.27 3.6
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. 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).
Figure 1. Mineralized drill core from hol e S20-220. Left: moderate biotite hornfels
cut by stockwork quartz-chalcopyrite-mol ybdenite veins. Right: molybdenite rich
quartz veins with bleached sericite altered halos cutting maroon biotite hornfels.
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Figure 2. West Seel Long Section showing results for Holes S20-220, S20-224, and
the previously released S20-219 (see Surge’s December 14, 2020 news release).
Hole S20-218
Hole S20-218 was drilled into the East Seel deposit. Results for the upper portion of the
hole have been previously released (see Surge’s November 26, 2020 news release) and
returned 126 metres grading 0.89% copper equivalent (0.43% copper, 0.5 g/t gold). The
hole targeted a prominent c hargeability and resistivity geoph ysical anomaly located on
the east side of the East Seel deposit and su ccessfully intersected strong alteration with
zones of quartz-pyrite veining and breccias through the target area. Assays for the bottom
portion of the hole from 230.0 metres to t he end of the hole at 584.8 metres depth have
been received and are presented here. The bottom portion of the hole contained
widespread anomalous gold from 312.0 metres to 466.0 me tres depth, ranging from
below detection (<0.005 g/t gold) to 1.13 g /t gold, averaging 0.11 g/t gold over 154.0
metres. Zones of stronger gold mineralization occur within this interval including 0.48 g/t
gold over 14.0 metres from 382. 0 to 396.0 metres depth. This large zone with elevated
Surge Copper Corp. 4
gold values represents a new and promisi ng peripheral gold target on the edge of the
East Seel porphyry system.
Summary of Assay Results for the Lower Portion of Holes S20-218
Drill Hole From (m) To (m) Width (m)1 Au (g/t) A g (g/t)
S20-220 46.0 530.0 484.0 0.14 3.9
including 46.0 116.0 70.0 0.26 7.1
including 452.0 530.0 78.0 0.20 3.5
S20-224 34.0 434.0 400.0 0.11 3.3
including 102.0 152.0 50.0 0.17 6.2
including 298.0 330.0 32.0 0.19 3.6
1. Width refers to drill hole intercepts; true widths have not been determined.
Figure 3. Core from Hole S20-218 around 392 metres depth. Pyrite rich veins and
breccias associated with quartz, white clay, and containing low-grade gold
mineralization.
Hole S20-221
Hole S20-221 was drilled at the East Target and tested a portion of a geophysical anomaly
located 800 metres northeast of the East Seel deposit. Hole S20-221 was drilled at an
azimuth of 90 degrees and a dip of -60 degrees to a total depth of 576 metres. The hole
intersected 90 metres of overburden befor e encountering bedrock and did not test the
high-grade West Damascus Fault target. T he hole did not encounter any intervals of
significant mineralization but did intersect several zones with elevated gold, silver, copper,
and zinc. From the start of bedrock at 90 metres to 150 metres depth the hole
encountered a zone of clay and pyrite alteration containing anomalous gold ranging from
below detection (<5 ppb gold) to 0.16 g/t gold. Within the hol e silver values ranged from
below detection (0.3 g/t silver) to 30.1 g/t silver, copper values ranged from trace to 0.18%
copper, and zinc ranged from trace to 0.55% zinc.
Drill Program Update
Two drill rigs are active on the property, 20 holes have been completed, and two holes
are currently in progress. Results for five holes have been received and released. A
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further 15 holes have been completed, processed, and submitted to the lab for assay with
results pending. Figure 4 shows the locations of the 2020-2021 drill holes.
Figure 4. Plan map of drill hole locations for ongoing drill program at Ootsa.
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 Activation Laboratories Lt d. 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 re ference purposes. Gold is assayed using a 30g fire assay
method and 37 additional elements are analyz ed by Induced Coupled Plasma (ICP)
utilizing a 4-acid digestion. Duplicate sa mples, 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 t he Qualified Person for the Ootsa project as defined by
National Instrument 43-101 and has approved the technical disclosure contained in this
news release.
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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 categor ies. There are 2 drills
working at the project with drilling focused on defining the extent of the large West Seel
deposit and testing new targets along the Seel Trend.
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 a large coppe r-molybdenum-silver mineralized zone with
historical resources. Combined, the adjac ent 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
“Leif Nilsson”
Chief Executive Officer
For Further information, please contact:
Telephone: +1 604 416 2978 or +1 604 558 5847
http://www.surgecopper.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of t he TSX Venture Exchange) acce pts 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 st atements of
historical fact, are forward looking statements, including but not limited to the Company’s
plans regarding the Berg Property and the Oots a 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 ot hers, actual results of the Company's
exploration activities being different t han those expected by management, delays in
obtaining or failure to obtain required gove rnment or other r egulatory approvals or
financing, inability to proc ure equipment and supplies in sufficient quantities and on a
timely basis, equipment breakdown and bad w eather. While these forward-looking
statements, and any assumptions upon which they are based, are made in good faith and
Surge Copper Corp. 7
reflect the Company's current judgment regardi ng the direction of its business, actual
results will almost always vary, sometimes ma terially, from any estimates, predictions,
projections, assumptions or other future performance s uggestions herein. Except as
required by applicable law, the Company do es not intend to update any forward-looking
statements to conform these statements to actual results.
1) Copper equivalent (“CuEq”) has been used to ex press the combined, gross in-situ content of
copper, gold, molybdenum, and silver with no adjus tments made for recovery. It is provided for
illustrative purposes only and is calculated usi ng the following pricing assumptions: US$3.00/lb
copper, US$1,800/oz gold, US$10/lb molybdenum, and US$22/oz silver.