Claims 100% Claims Adjacent To Berg Property
Surge Copper Corp. (TSXV:SURG) 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.
The Sylvia claims host an underexplored porphyry target consisting of a 500 by 2,000 metre sulphide alteration zone that straddles the south contact of a granodiorite stock.
Historical drilling in 1974 by Hudson Bay Oil and Gas Company Ltd intercepted 63m grading 0.33% copper and 0.02% molybdenum, starting at 9.1m downhole, with the hole ending in mineralisation.
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 acquisition of these claims provides the company with another quality porphyry exploration target with known copper mineralisation 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 also announced 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 recapitalisation of the company and has played an important role in the development of the business over the last 12 months.
“It is an honour to be appointed as Chairman of Surge, and to be working with such a high-calibre board. In just one year the business has advanced rapidly, having raised over C$20 million in new equity, completed several district consolidation deals including the Berg transaction, and drilled over 44,000 metres.
“This district is one of the most prospective for copper in British Columbia, and we look forward to making new discoveries on the back of our district-wide geophysical survey and working to realise the mining potential of our resources,” Mr Kargl-Simard said.
For further information please visit: https://www.surgecopper.com/