VANCOUVER, BC, April 7, 2021 /CNW/ – Surge Copper Corp. (TSXV: SURG) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to announce it has executed definitive asset purchase agreements with two vendors to acquire a 100% interest in certain mineral claims in the eastern portion of the Berg Property and southern portion of the Ootsa Property. The acquisition of these claims consolidates Surge’s ownership of the Bergette prospect area, which is the most advanced regional exploration target on the Berg Property outside of the Berg deposit.
The Bergette target area is situated approximately 10 kilometers east of the Berg deposit. Prior exploration work has outlined a 2 km by 2 km copper-in-soil anomaly straddling the interior margins of an intrusive magnetic anomaly that remains open to the east. Historical shallow drilling in the southwestern and northwestern corners of the soil anomaly intercepted porphyry mineralization, including 0.29% Cu, 0.011% Mo, and 0.6 g/t Ag over 70 metres and 0.32% Cu and 0.010% Mo over 64 metres with both potassic alteration and grades appearing to increase with depth. An AeroTEM survey completed over the area in 2010 also shows an EM geophysical anomaly comparable in magnitude and scale to the signature over the Berg deposit area.
The Company is planning a surface exploration program at Bergette starting mid-July of this year that will focus on extending and fully defining the large copper in soil anomaly, complete surface mapping and rock sampling, and potentially look to complete a ground-based induced polarization geophysical survey over the entire target area.
Under the terms of the asset purchase agreements, Surge will issue to two vendors a total of 850,000 common shares, and register separate net smelter return royalties on the claims, each subject to certain buyback rights. The terms of the agreements and issuance of Surge shares are subject to TSX Venture Exchange approval. The shares issued will be subject to a statutory four-month hold period.
Participation in Upcoming Investor Conferences
The Company also announces its participation in the following upcoming virtual investor conferences:
- 121 Mining Investment Americas Online 27-29 April
- 121 Mining Investment EMEA Online 25-27 May
- 121 Mining Investment APAC Online 16-18 June
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
“Leif Nilsson”
Chief Executive Officer
For Further information, please contact:
Telephone: +1 604 416 2978 or +1 604 558 5847
info@surgecopper.com
http://www.surgecopper.com
