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Surge Copper Announces Acquisition of Additional Claims in Huckleberry District and Appointment of New Board Chair
VANCOUVER, BC, Sept. 28, 2021 /CNW/ - Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) ("Surge" or the "Company") is pleased to announce that it
About this update from Surge Copper Corp.
[{"type":"text","content":" VANCOUVER, BC, Sept. 28, 2021 /CNW/ - Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) (\"Surge\" or the \"Company\") is pleased to announce that it has executed a definitive asset purchase agreement to acquire a 100% interest in the Sylvia mineral claims located in the northern area of the Huckleberry district in central British Columbia, contiguous with the Berg Property and the Company's other 100% owned claims in the area (see Figure 1). The Sylvia claims host an underexplored porphyry target consisting of a 500 by 2,000 metre sulfide alteration zone that straddles the south contact of a granodiorite stock. Historical drilling in 1974 by Hudson Bay Oil and Gas Company Ltd. intercepted 63 metres grading 0.33% copper and 0.02% molybdenum, starting at 9.1 metres downhole, with the hole ending in mineralization (BC Assessment Report 5213). The claim area was also included in the recently completed district-wide airborne geophysical survey, allowing the Company to accelerate its exploration planning in the area. The Sylvia claims comprise two mineral claims totalling approximately 572 hectares. Under the terms of the agreement, Surge will issue to three vendors a total of 390,000 common shares and will grant the vendors a 2% net smelter return royalty on the claims, subject to a perpetual buyback right on half of the royalty for C$1 million. The terms of the agreement and issuance of Surge shares are subject to TSX Venture Exchange approval, and the shares will be subject to a statutory four-month hold period. The acquisition of these claims provides the Company with another quality porphyry exploration target with known copper mineralization within this highly prospective porphyry district. The Sylvia claims occur in relatively flat, low-lying terrain with direct road access, allowing for low cost and potentially year-round exploration of the target. Appointment of New Board Chair The Company is also pleased to announce the appointment of Christian Kargl-Simard as Non-Executive Chairman of the Board. Christian has served as a director of Surge since the September 2020 recapitalization of the Company and has played an important role in the development of the business over the last twelve months. Christian has served as President, CEO, and director of Adventus Mining Corporation since December 2016. Patrick G...