PR Newswire
VANCOUVER, BC, Dec. 16, 2020
TSX-V Trading Symbol: SURG
VANCOUVER, BC, Dec. 16, 2020 /PRNewswire/ -- 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
Table listing select historic holes drilled in 2011 by Thompson Creek Metals
Hole | From (m) | To (m) | Interval (m) | Cu % | Mo % | Ag g/t | Cu Eq %* |
BRG11-215 | 54.0 | 404.2 | 350.2 | 0.41 | 0.031 | 8.3 | 0.60 |
including | 54.0 | 134.4 | 80.4 | 0.56 | 0.036 | 13.9 | 0.83 |
BRG11-219 | 6.0 | 69.0 | 63.0 | 0.56 | 0.070 | 60.5 | 1.44 |
BRG11-221 | 15.0 | 350.2 | 332.2 | 0.46 | 0.039 | 5.6 | 0.65 |
including | 15.0 | 132.0 | 114.0 | 0.58 | 0.025 | 5.4 | 0.72 |
BRG11-223 | 27.0 | 178.3 | 151.3 | 0.50 | 0.017 | 4.8 | 0.61 |
BRG11-228 | 33.0 | 294.6 | 261.6 | 0.35 | 0.035 | 5.3 | 0.52 |
BRG-11-229 | 15.5 | 325.4 | 309.9 | 0.46 | 0.016 | 4.6 | 0.56 |
including | 15.5 | 191.5 | 176.0 | 0.63 | 0.020 | 4.8 | 0.75 |
*Cu Eq. (copper equivalent) has been used to express the combined value of copper, molybdenum, and silver as a percentage of copper, and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result. Calculations use metal prices of US $3/lb copper, $22 silver, and $10/lb molybdenum using the formula Cu Eq.% = Cu% + (Mo% x 3.33) + (Ag g/t x 0.0107). |
Details of the Berg Project
The Berg property sits immediately northwest of Imperial Metals' Huckleberry Mine and the Ootsa property sits immediately to the southeast. The Berg and Ootsa properties are adjoining on the west side and combined they cover the majority of the Seel-Huckleberry-Berg porphyry trend, having a total combined area of 120,155 hectares. Mineralization at the Berg deposit forms an annular shape around a broadly cylindrical, multi-phase intrusive stock known as the Berg Stock. The historic resources comprise two highly fractured mineralized zones in the northeast and southern portions of the annulus. Hypogene mineralization is characterized by several generations of veining, and a well-developed supergene enrichment blanket is superimposed on the hypogene mineralization.
A total of 53,754 metres over 215 holes have been completed on the deposit by prior operators including Kennecott, Placer Dome, Terrane Metals, and Thompson Creek Metals. Drilling in most areas of the Berg deposit remains wide-spaced and mineralization is open to depth and outward from the Berg Stock. The deposit has been shown to have excellent vertical continuity with significant mineralization intersected greater than 550m below surface.
Numerous metallurgical test programs have been conducted on mineralization at Berg, with a focus on developing a flowsheet to produce copper and molybdenum concentrates from both supergene and hypogene composite samples. Historical work has demonstrated that conventional flotation processes, comprised of primary grinding, rougher flotation, bulk rougher concentrate regrind, and three stage bulk cleaner flotation followed by conventional copper and molybdenum separation, can be used to produce marketable copper and molybdenum concentrates.
Historical Resource for The Berg Deposit(1)
Category | M. | Cu % | Mo % | Ag g/t | Cu Eq (2) Werbung Mehr Nachrichten zur Centerra Gold Aktie kostenlos abonnieren
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