zu 70% von Centerra Gold:
December 15, 2020, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG) (“Surge” or the “Company”) has entered into a definitive option agreement (the “Option Agreement”) with Thompson Creek Metals Company Inc., a wholly owned subsidiary of Centerra Gold Inc., a TSX listed Company (“Centerra”) whereby Surge will have the right to acquire a 70% interest in the Berg copper-molybdenum-silver project through issuing C$5 million in common shares of Surge and C$8 million in spending commitments, in each case, over a period of up to five years. Berg hosts a large porphyry copper-molybdenum-silver deposit located in the Tahtsa Ranges in central British Columbia. The main deposit at Berg is located approximately 28km northwest of Surge’s Ootsa project on a 34,798 hectare tenement package which is contiguous with the Ootsa property. Berg is currently 100% owned by Centerra.
Dr. Shane Ebert, Chief Executive Officer of Surge, commented: “The acquisition of Berg is highly strategic to Surge, as it solidifies the Company’s position in the district, and adds both significant, high quality historical resources, and a large, prospective land package. Surge is advancing a multitrack agenda of aggressive exploration and strategic copper district consolidation in British Columbia, and this transaction represents an important step in our path forward.”
HIGHLIGHTS
Definitive Option Agreement to acquire 70% interest in Berg
Option includes $5 million in share payments to Centerra plus $8 million in project spending commitments over a period of five years
2018 resource estimate (classified as historical) of 397 Mt grading 0.44% CuEq in the Measured & Indicated categories, and 14 Mt grading 0.34% CuEq in the Inferred category.(1) A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource or reserve and Surge Copper is not treating it as a current mineral resource or reserve.
Mineralization at Berg is close to surface, exhibits excellent vertical continuity, remains open at depth and radially outward, and is notable for having a significant supergene enrichment zone
Project is contiguous with Surge’s Ootsa property, and is located 22km northwest of the Huckleberry Mine and Mill Complex, in an area of B.C. with excellent transport, power, and water infrastructure
Large land package with attractive pipeline of known porphyry and polymetallic hydrothermal vein targets, including 16 known magnetic anomalies developed through airborne geophysics
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