VANCOUVER - Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) has announced significant assay results from a recent drill hole at its Berg copper-molybdenum deposit in British Columbia. The second hole of the company's 2023 drilling program, BRG23-244, intersected 548 meters of mineralization grading 0.36% copper equivalent from just 12 meters depth, indicating the potential for resource expansion at the site.
The drill results revealed a high-grade supergene sulfide zone near the surface, with a subinterval of 108 meters grading 0.46% copper equivalent, including a higher-grade section of 30 meters at 0.61% copper equivalent. Lower down, the hole intersected a zone with elevated molybdenum levels, returning an interval of 79 meters grading 0.085% molybdenum.
These findings are part of Surge Copper's efforts to understand the deeper characteristics of the Berg deposit, provide material for metallurgical testing, and potentially upgrade inferred resources to higher confidence categories. The hole, which reached a total depth of 639 meters, was strategically drilled to fill a 200-meter gap in an area of low drill density, offering new insights into the deposit's extension and continuity.
Leif Nilsson, CEO of Surge Copper, expressed optimism about the results, stating that the hole delivered on multiple objectives and demonstrated the deposit's continuity and exploration potential. The drill program, which operated from late July to early September 2023, completed three diamond core holes totaling 2,077 meters. Assay results for the remaining hole, BRG23-245, are forthcoming.
The company's Berg project, alongside its Ootsa Property, forms a critical metals district in a region with established infrastructure. Surge Copper aims to advance these projects, which contain significant resources of copper, molybdenum, gold, and silver – metals crucial for the transition to low-carbon energy technologies.
Surge Copper's maiden Preliminary Economic Assessment (PEA) for the Berg project, announced in June 2023, outlined a large-scale, long-life mining project with robust economics, including an NPV8% of C$2.1 billion and an IRR of 20%, based on long-term commodity prices.
The information in this article is based on a press release statement from Surge Copper Corp.
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