VANCOUVER, British Columbia, Sept. 6, 2019 /CNW/ -- Surge Exploration Inc. ("the Company" or "Surge") (TSXV: SUR) (OTC: SURJF) (FRA: DJ5C) announces that it has recently acquired 100% interest in an additional Gold-Copper mineral claim adjoining its Trapper Lake Property in Northern British Columbia near the Golden Bear Mine, a 480,000 oz Au past producer, currently owned by Newmont Goldcorp Corporation. It should be noted that results from nearby and/or adjacent properties are not necessarily indicative or reflective of mineralization that may be hosted on the Company's property.
The mineral claim owned by Surge is nearby the Thorn Project currently owned by Brixton Metals Corp. ("Brixton") located in the Sutlahine River area of northwestern British Columbia (northern tip of the "Golden Triangle"). Surges' additional staking program complements its previously announced 213 sq. km mineral claim staking program Golden Triangle originally announced on July 16, 2019 , reiterating the Company's commitment to region. This new claim has been acquired to provide additional exploration potential around the boundaries of the former Golden Bear Mine.
Tim Fernback, Surge CEO states, "We are very excited to acquire this key additional mineral claim in BC's prolific Golden Triangle near Newmont Goldcorp's Golden Bear Mine and nearby Brixton Metal's Thorne Project. With Brixton Metals announcing on August 8, 2019 that renowned gold mining investor, Mr. Eric Sprott, through 2176423 Ontario Ltd. (a corporation which is beneficially owned by him) acquired 22,250,000 Units for total consideration of $4,005,000 of its recently completed $7.7 million private placement, this area appears to be quite active for gold exploration. It is notable that following the completion of the August 2019 private placement, Mr. Sprott's holdings including previously held shares will represent 18.25% of the issued and outstanding common shares of Brixton Metals, on a non-diluted basis."
About Surge Exploration Inc.
The Company is a Canadian-based mineral exploration company which has been active in the resource sector in British Columbia and elsewhere in Canada.
Golden Triangle – Trapper Lake Property (Copper Gold), British Columbia
The Company owns 100% interest in the Golden Triangle – Trapper Lake Group of 15 mineral claims which are located in the prolific Golden Triangle Region of northwestern British Columbia approximately 90 km ENE from Juneau, Alaska. Surges' staking program acquired an area of approximately 220 sq. km within the regionally important geological and structural trend. A large portion of the new property is adjacent to the Thorn Project owned by Brixton Metal's Corp. ("Brixton") with the balance covering prospective open ground containing numerous B.C. Minfile showings with Cu, Ag, Au values adjoining the boundaries of the Golden Bear Mine, a 480,000 oz Au past producer.
In Brixton's news release dated July 15, 2019 (Brixton News Release), they reported results from drill hole THN19-150, which was drilled to 829.06 metres depth at the Oban diatreme breccia pipe within the Camp Creek copper corridor. Brixton reported a drill hole intercept of 1.97 grams per tonne gold equivalent across 554.70 meters including 135.96M of 1.35 g/t Au, 0.31 Cu, 133.62 g/t Ag or 5.00 g/t Aueq including 6M of 3.56% Cu, 3.37 g/t Au, 257.77 g/t Ag. Structural mapping and soil-rock geochemistry at the Chivas zone and relogging of select core from the Glenfiddich zone were also conducted as part of the overall exploration program at the Thorn Project. Again, results from nearby and/or adjacent properties are not necessarily indicative or reflective of mineralization that may be hosted on the Company's property.
Mineral Mountain Properties (Copper Gold) British Columbia
The Company owns a 100% interest in the Omineca Group of 12 claim blocks which are located in the Omineca Mining Division of north-central British Columbia, approximately 150 km north of Fort St. James. The claims are not subject to any royalty terms, back-in rights, payments or any other agreements and encumbrances.
B.C. Minfile assessment report data indicates that most of the area covered by the Omineca Group claim blocks were at one time or another covered by staking during surges of exploration in B.C. dating from the 1940's to present day. Largely the claims appear to have been minimally explored with little follow-up. However, some work was recorded on several claims with results for stream sediment sampling showing anomalous to highly anomalous results for gold in a few areas. These areas were recommended for detailed follow-up, however due to a previous commodity price downturn no further work was recorded.
Prominent among early discoveries in the Omineca region were the nearby Lustdust/Stardust property (Sun Metals Corp.) covering a large, coherent integrated porphyry-skarn-manto, epithermal system; the Kwanika property (Serengeti Resources Inc./POSCO Daewoo) a promising advanced stage copper-gold project; the Lorraine property (Teck Resources and Sun Metals) host to a significant copper gold NI 43-101 compliant resource. The Surge tenures are located between the Kemess North project being developed by Centerra Gold's subsidiary Aurico Metals and Centerra Gold's operation Mt Milligan mine.
Hedge Hog Property, (Copper Gold) British Columbia
The Company has an option to earn an undivided 60% interest seven mineral tenure covering 2,418 hectares (5,972 acres) located approximately 80 km northeast of the town of Quesnel, BC and 20 km north of the historic gold mining towns of Wells and Barkerville.
Ontario Cobalt Properties (Cobalt) Ontario
The Company has an option to earn an undivided 60% interest in the Glencore Bucke Property and the Teledyne Property, located in Cobalt, Ontario Canada.
On Behalf of the Board of Directors
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.
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Telephone: (778) 945-2656
SOURCE Surge Exploration Inc.