Surge Provides an Update on Recent Gold Property Activity in BC and Reports on Additional Assay Results from Its Ontario Cobalt Exploration Program

VANCOUVER, British Columbia, Feb. 12, 2019 /PRNewswire/ — Surge Exploration Inc. (the “Company” or “Surge”) (TSX‐V: SUR) (OTCQB:SURJF), (FRA: DJ5C) is pleased to provide an update on various corporate activity nearby its Mineral Mountain gold-copper properties in the Omineca Region of British Columbia, as well as, providing interim assay results from drill holes GB18-22 to GB18-30, drilled on its Glencore Bucke Cobalt Property (Cobalt, Ontario, Canada). 

Surge Exploration's Omineca Group of 9 claim blocks

Omineca Region Update:

Prominent among early discoveries in British Columbia’s Omineca region were the nearby Lustdust/Stardust property (TSXV:SUNM) covering a large, coherent integrated porphyry-skarn, epithermal system; the Kwanika property (TSXV:SIR) a promising advanced stage copper-gold project; the Lorraine property (TSXV:LLC) host to a large copper/gold NI 43-101 compliant resource.  The tenures are located between the Kemess North project being developed by Centerra Gold Inc.’s (TSX:CG) subsidiary Aurico Metals and Centerra Gold’s current mining operation – the Mt Milligan mine.

On November 14, 2018, Sun Metals Corp. announced the intersection of 100 meters grading 4.99% Copper equivalent and with 3.03 grams per tonne (g/t) Gold, 2.51% Copper and 52.5 g/t Silver on the Stardust Property owned by Lorraine Copper Corp. and optioned by Sun Metals.  On December 20, 2018, Sun Metals announced the completion of a non-brokered private placement of CAD$5,162,500 with the intention to use the proceeds to continue its exploration of the Stardust Property.  As a part of this private placement, Teck Resources Limited (NYSE:TECK) invested a total of CAD$3,500,000 for a 13.8% equity stake in Sun Metals.  More recently, and on February 4, 2019, Sun Metals announced an arrangement agreement with Lorraine Copper Corp. providing for the indirect merger of the companies.

On January 19, 2019, Centerra Gold Inc. announced that the Mount Milligan Mine (located 110 km from Mineral Mountain) produced 194,993 ounces of Gold and 47.1 million pounds of Copper during the calendar year of 2018, and gave guidance for 155,000 – 175,000 ounces of Gold and 65 million – 75 million pounds of Copper for the calendar year 2019.  Centerra Gold has calculated that the Mount Milligan Mine has proven and probable reserves of 5.8 million ounces of Gold and 2.1 billion pounds of Copper and has estimated Mount Milligan to have a 22 year mine life.

The Honourable Bill Bennett, Surge director and three-time former BC Energy & Mines Minister comments “The Omineca Region of the Province has already generated several promising projects, and our approximate 200 km2 land package is strategically situated to exploit the high copper-gold values of the region. BC is a mining-friendly jurisdiction with reasonable processes, good infrastructure and potential First Nation partners.”

About Surge’s Mineral Mountain Property

Surge Exploration’s Omineca Group of 9 claim blocks (see map) lie in the Omineca Mining Division of north-central British Columbia, approximately 150 km north of Fort St. James.  The claims are not subject to any royalty terms, back-in rights, payments or any other agreements and encumbrances.

Management plans to prepare and announce a plan and budget for an exploration program to be carried out once the field season starts in mid-2019.

Ontario Cobalt Property Update:

During the late fall of 2018, Surge completed a total of 4,272 m / 14,016 ft. of diamond drilling in 33 holes on both the Glencore-Bucke and Teledyne Cobalt Properties: 2,559 m / 8,396 ft. were completed in 24 drill holes on the Glencore Bucke Property, and 1,713 m / 5,620 ft. in 9 drill holes on the Teledyne Cobalt Property.

On the Glencore-Bucke Property, drill holes GB18-22 to GB18-30 tested the Northwest and Main Zones with the intent of intersecting mineralized zones along strike and vertically above and below previous intersections reported in the 2017 drilling program completed by LiCo Energy Metals.

Highlights from diamond drill holes GB18-22 to GB18-30 include:

  • GB18-26 0.29 % Co over 0.25 m from 79.25 to 79.50 m.
  • GB18-27 0.47 % Co, 33.1 ppm Ag, 0.82% Cu over 2.33 m from 94.42 to 96.75 m, including 1.3% Co, 65.8 ppm Ag, 0.97% Cu over 0.83 m from 94.42 to 95.25 m.
  • GB18-29 1.28% Cu over 3.75 m from 61.75 to 65.50 m, including 0.24% Co, 0.43% Cu from 63.00 to 63.40 m.
  • GB18-30 0.70 % Co over 0.50 m from 40.00 to 40.50 m.

The results for diamond drill holes GB18-23 to GB18-30 are summarized below in Tables 1 and 2.  There were no significant results for drill hole GB18-22. 

Table 1: Summary of Diamond Drill Results

DDH

From (m)

To (m)

Core length (m)

Co (ppm)

Ag (ppm)

Cu (ppm)

Zn (ppm)

Pb (ppm)

GB18-23

50.8

51.15

0.35

669

4.6

13300

257

56

GB18-24

44

46

2.00

50

Full story available on Benzinga.com

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