Surge Identifies Large New Chargeability Target ON the Seel Copper-GOLD Trend at Ootsa
S U R G E
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 IDENTIFIES LARGE NEW CHARGEABILITY TARGET ON THE
SEEL COPPER-GOLD TREND AT OOTSA
September 23, 2020 , Vancouver, British Columbia – Surge Copper Corp. (the “Company” or
“Surge Copper”) (TSX-V:SURG), is pleased to announce that results of a 3D induced polarization
geophysical survey conducted over the Seel trend at Ootsa have been received and a large new
anomaly has been identified. Ootsa is an advanced stage exploration project with large
measured and indicated copper and gold resources located adjacent to the Huckleberry Mine in
British Columbia.
Highlights
A large and previously unidentified geophysical anomaly has been identified on the east
side of the Seel trend and could be a fault offset portion of the high-grade East Seel
Deposit.
The anomaly contains chargeability, resistivity, and magnetic values that are similar to
the East Seel deposit over an area exceeding 800 metres long by 500 metres wide.
A high resolution and deep penetrating Voltara 3D induced polarization geophysical survey was
conducted over the Seel trend by SJ Geophysics during June and July and results are discussed
here.
The new geophysical survey has increased resolution and depth penetration and covers the East
and West Seel deposits and extends outwards into prospective areas for several kilometres along
strike. The survey has resulted in the discovery of a new geophysical anomaly defined by a high
chargeability zone 1200 by 800 metres in size located on the east side of the trend. This new
anomaly is separated from the East Seel deposit by the East Fault, a prominent northeast
trending fault that truncates mineralization at East Seel. Within the new anomaly a zone 800 by
500 metres in size contains chargeability and resistivity values that match those of the East Seel
mineralized zone and is considered prospective for East Seel style copper-gold mineralization. A
magnetic high overlaps part of the new anomaly providing further support for an East Seel style
target. The new anomaly is best developed below 150 to 200 metres depth, confirming previous
interpretations that rocks on the east side of the East Fault have been down dropped relative to
rocks on the west side.
Maps showing geophysical results and the new chargeability anomaly are available here.
Dr. Shane Ebert, President of the Company stated, “The new deep looking 3D IP survey has
identified a strong new geophysical target that has potential to host high grade East Seel style
copper-gold mineralization. This target appears to be offset laterally and down dropped which is
likely why it was not identified during previous exploration. The Company is currently evaluating
plans to conduct further exploration at Ootsa including drill testing this exciting new target.”
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 contract mining and toll milling scenario. The
Company currently has no agreement in place to access 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 resource statement and PEA is available on SEDAR or the Company’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, densities, shape and physical characteristics are so well established that they can
be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support
production planning and evaluation of the economic viability of the deposit. An ‘Indicated Mineral Resource’ 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$17/oz Ag) and process recovery assumptions, and take into account
smelter payable rates and refining costs. M&I = measured and indicated. The resource update and Preliminary Economic
Assessment was completed by P&E Mining Consultants Inc. in accordance with National Instrument 43-101 Standards 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
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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
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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
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or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment
breakdown 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 suggests 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.