Surge Copper Intersects 495 metres of 0.54% CuEq including 126 metres of 0.85% CuEq at West Seel and Previews Upcoming News Flow
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]
October 12, 2021
NEWS RELEASE
Surge Copper Intersects 495 metres of 0.54% CuEq including 126 metres of 0.85% CuEq
at West Seel and Previews Upcoming News Flow
October 12, 2021, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQX: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce
assay results for multiple resource definition holes from the Company’s 100% owned Ootsa
Property in British Columbia, and an update on the Company’s ongoing activities and near-term
news flow. The 2021 core drilling program at Ootsa has ended with 26,556 metres of drilling in 72
holes completed since June 2021. Thus far, following this news release, results from 20 holes
have been released, with results from 52 additional holes pending including:
1,934 metres in 3 holes from resource drilling within the Seel deposit area
9,054 metres in 45 holes from the Seel Breccia Zone located north of the Seel deposits
2,319 metres in 4 holes from regional exploration targets within the Ox and Seel trends
An updated resource estimate for the Ootsa Property is in progress, and regional exploration
target evaluation and data compilation will be continuing over the winter with selective drill testing
as warranted. The Company is also actively drilling at the Berg deposit, with further updates on
this program to follow.
Leif Nilsson, Chief Executive Officer, commented: “ This is the second batch of results we are
releasing from a multi-project summer program which has been one of the busiest in the
Company’s history. The results continue to demonstrate the potential to expand the West Seel
deposit and to improve grade within existing volumes. Furthermore, the recent drilling at the Seel
Breccia Zone, for which assays are still pending, underscores the excellent exploration potential
in this area. A major focus in the coming months will be on advancing our pipeline of regional
exploration targets throughout the district.”
Surge Copper Corp. 2
East and West Seel Highlights
Hole S21-266 intersected 495 metres grading 0.54% copper equivalent including 355
metres grading 0.62% copper equivalent and 126 metres grading 0.85% copper
equivalent
Hole S21-261 intersected 276 metres grading 0.40% copper equivalent including 64
metres grading 0.53% copper equivalent
Hole S21-256 intersected 244 metres grading 0.49% copper equivalent including 116
metres grading 0.58% copper equivalent
Partial assays for the upper portion of Hole S21-268 intersected 270 metres grading 0.47%
copper equivalent from 20 metres to 290 metres depth with assays pending for the
bottom portion of the hole
Multiple higher grade gold intercepts have been encountered in drilling including 9.3 g/t
gold over 2 metres within a zone grading 1.5 g/t gold over 20 metres, highlighting the
precious metal potential within and proximal to the main porphyry deposit centres
A new resource estimate for the Ootsa Property is expected by year end incorporating
approximately 30,000 metres of new core drilling, which has consistently encountered
broad, continuous zones of mineralization within and outside of the 2016 resource
constraining pit
Seel Breccia Zone and Other Exploration Highlights
Recent drilling at the Seel Breccia Zone located 200 metres north of the East Seel deposit
has traced for over 200 metres along strike a zone which is 20 to 60 metres wide and
extends to depths up to 150 metres (see Figure 1)
On the Berg Property, 9 drill holes have been completed to date as part of the 2021 core
drilling program at the Berg deposit area
Final inversion and targeting results from regional ZTEM airborne geophysics is nearing
completion
Surge Copper Corp. 3
Figure 1. Plan map of drill hole locations for 2021 Ootsa summer and fall drill program.
East and West Seel Drilling Details
Holes S21-256, 265, 266, and 268 are infill holes at West Seel and all encountered long intervals
of continuous mineralization that will help def ine grade within those volumes. Hole S21-265
intersected 402 metres grading 0.50% copper equivalent. Hole S21-266 intersected 495 metres
grading 0.54% copper equivalent including significant zones with higher grades. Hole S21-268
intersected 270 metres grading 0.47% copper equivalent starting at 20 metres depth and will
extend the zone of near surface West Seel mineralization to the southeast. Assays are pending
for the bottom portion of the hole. Holes S21-259, 260, 261, and 263 were all drilled on the edges
of the West Seel system and all encountered significant mineralization that will help expand the
known extents of the West Seel deposit.
Hole S21-258 tested a regional target located 0.6 kilometres southeast of the Seel deposits and
intersected a precious metal vein that returned 4.75 g/t gold and 69.7 g/t silver over 1 metre. Hole
S21-257 tested the south edge of East Seel and did not encounter significant mineralization. The
remaining holes in this release are step out or infill holes designed to expand or constrain West
Seel mineralization.
Surge Copper Corp. 4
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)
S21-256 244 312 68 0.20 0.12 0.06 0.005 1.7
S21-256 314 558 244 0.49 0.17 0.23 0.030 2.1
including 388 504 116 0.58 0.19 0.26 0.041 2.2
S21-256 590 610 20 1.42 0.08 1.46 0.013 1.2
including 606 608 2 8.33 0.13 9.25 0.023 3.0
S21-258 755 756 1 5.08 0.18 4.75 0.000 69.7
S21-259 66 192 126 0.21 0.13 0.03 0.007 3.0
S21-259 198 199 1 4.23 0.17 4.44 0.016 11.4
S21-259 350 392 42 0.32 0.12 0.17 0.007 1.9
S21-260 142 172 30 0.25 0.12 0.11 0.009 0.6
S21-260 248 300 52 0.37 0.16 0.16 0.018 0.7
S21-261 34 68 34 0.29 0.15 0.08 0.007 4.2
S21-261 104 380 276 0.40 0.20 0.11 0.021 2.8
including 142 174 32 0.48 0.23 0.15 0.021 4.6
including 310 374 64 0.53 0.28 0.12 0.034 2.7
S21-263 190 818 628 0.28 0.16 0.06 0.014 2.5
including 308 376 68 0.47 0.25 0.08 0.028 5.2
S21-265 342 744 EOH 402 0.50 0.25 0.16 0.025 2.7
including 342 480 138 0.55 0.23 0.23 0.027 3.1
S21-266 198 693 EOH 495 0.54 0.25 0.21 0.021 3.4
including 388 693 EOH 355 0.62 0.28 0.25 0.026 3.3
including 382 508 126 0.85 0.34 0.39 0.034 4.6
S21-268 20 290* 270 0.47 0.24 0.14 0.014 5.5
including 218 290* 72 0.54 0.29 0.18 0.013 5.5
1. Width refers to drill hole intercepts; true wid ths have not been determined. EOH = end of hole.
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).
* Assays are pending for the bottom portion of hole S21-268 below 290 metres.
Combined with the approximately 20,000 metres drilled during the 2020-2021 winter drill program,
a total of approximately 30,000 metres of new core drilling has been completed within the Seel
deposit area. This compares to the approximately 100,000 metres comprising the drill hole
database used for the most recent resource estimate. Drilling during the 2020-2021 drill programs
has consistently encountered broad, continuous zones of mineralization within and outside of the
2016 resource constraining pit.
Surge Copper Corp. 5
Figure 2. West Seel long section B-B’ showing results for holes S21-219, 220, 224, 226,
S21-240, 243, 250, and 263. See Figure 1 for section location.
Surge Copper Corp. 6
Figure 3. West Seel cross section 7 NE showing results for holes S14-219, S21-232, 235,
and S21-266. See Figure 1 for section location.
Surge Copper Corp. 7
Figure 4. West Seel cross section C-C’ showing results for holes S21-228, 231, 233, 239,
256, and partial results for S21-268. See Figure 1 for section location.
Seel Breccia Zone and Berg Drilling Details
The Company has recently completed 9,054 metres in 45 holes at the Seel Breccia Zone, located
approximately 200 metres north of the East Seel deposit. This drilling has focused on delineating
a zone of breccia style mineralization that comes to surface, has been traced for over 200 metres
along strike, is 20 to 60 metres wide, and extends to depths up to 150 metres below surface.
Halos of lower grade mineralization locally surround the high-grade breccia cores. The recent drill
testing was designed to confirm continuity and grade and define the extents of the zone to allow
this potential high-grade resource to be included in the next resource estimate. This breccia is
known to contain high grade mineralization highlighted by hole S06-42 which intercepted 138
Surge Copper Corp. 8
metres grading 0.84% copper and 22.1 g/t silver from 22 metres depth (previously released).
The 2021 core drilling program at the Berg deposit area is expected to conclude shortly with a
total of 2,858 metres of drilling in 9 holes completed to date. The drilling has confirmed the existing
resource model and consistenly intersected the chalcocite blanket.
Upcoming Catalysts and Marketing Events
The Company anticipates updating the market on results from the following activities:
Drill results from 52 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 IMARC, October 19-21
Swiss Mining Institute, November 2-4
Mines and Money London, December 1-2
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.