Hitting Copper-Gold in Canada with Both Commodities On-the-Rise

by Mike Fagan

Mike Fagan

Surge Copper Corp. (TSX-V: SURG)(OTC: SRGXF) — currently trading around C$0.50 per share — has released assays showing long runs of copper-gold mineralization from step-out holes from the West Seel deposit area of its flagship Ootsa Copper Project in central British Columbia, Canada.

Highlights include:  

  • 830 meters grading 0.38% copper equivalent (CuEq); including 170 meters grading 0.47% CuEq
  • 190 meters grading 0.45% CuEq; including 66 meters grading 0.65% CuEq  
  • 62 meters grading 0.70% CuEq
  • 86 meters grading 0.62% CuEq

Results from 8 additional holes are pending including step-out holes to the west, north, and the gap zone area between the Seel deposits. 

Surge Copper VP Exploration, Dr. Shane Ebert, commented via press release

"This latest batch of holes are all step-outs testing the margins of the West Seel deposit and continue to significantly expand the size of the deposit and help define key structural controls. Hole S21-240, on the north side of the deposit, has returned an impressive interval of 830 meters of continuous mineralization grading 0.38% copper equivalent, along with higher grade zones. The holes on the southeast side of the deposit have also returned strong grades starting around 200 meters below surface with mineralization remaining open to the southeast. This southeast part of the West Seel deposit is an area where additional drilling has the potential to add significant tonnage to the deposit."

Surge Copper has established a commanding land position in the Huckleberry Mining District of central British Columbia comprising four advanced porphyry copper-dominant deposits with measured and indicated (M&I) resources totalling 834 million tonnes grading ~0.42% copper equivalent [4.8 billion pounds or 2.1 million tonnes Cu]:

Ootsa Copper Project (100%-owned; 211,000-acres): Includes the West Seel, East Seel, and Ox deposits and includes a 43-101 M&I resource of 224M tonnes grading 0.44% copper equivalent (CuEq) for 1.1B lbs copper, 1.1M oz gold, 104M lbs molybdenum, and 20M oz silver. 

Berg Copper Project (70% earn-in; 86,000-acres): Includes the Berg deposit and includes a 43-101 M&I resource of 610M tonnes grading 0.41% CuEq for 3.7B lbs copper, 419M lbs molybdenum, and 59M oz silver. 

Drilling at Ootsa is scheduled to resume in late-May to early-June following spring breakup and snow melt in the area.

The focus will be on resource expansion at the West Seel deposit which is open in multiple directions with the primary target being a large, deeper pit outside the current resource. 

Surge Copper is well-structured with 133.2 million shares outstanding [non-fully-diluted] for a current market cap below C$67 million, and the company is well-funded with approximately C$4 million in the treasury.

Our own Gerardo Del Real of Junior Resource Monthly caught up with Surge Copper CEO, Leif Nilsson, for a deeper look into the latest batch of assays from West Seel plus a look ahead to the upcoming drill program.  CLICK HERE TO LISTENTranscript is also available. 

Also, we have a brand new report on Surge Copper available here

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.