Associated tags: Copper, Gold, Molybdenum, Silver, Metal, SURG, Mining, News, National instrument
Locations: NE, MI, BRITISH COLUMBIA, NI, BERG
Retrieved on:
Wednesday, April 24, 2024
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Security (finance) Vancouver, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG ) (OTCQB: SRGXF ) (Frankfurt: G6D2 ) (“Surge” or the “Company”) announces that it has closed its previously announced non-brokered private placement (the “Side-Car Private Placement”) (see April 10, 2024 press release ), consisting of 10,000,000 common shares of Surge (the “Side-Car Common Shares”) at a price of $0.10 per Side-Car Common Share for aggregate gross proceeds of $1.0 million.
Key Points:
- Vancouver, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG ) (OTCQB: SRGXF ) (Frankfurt: G6D2 ) (“Surge” or the “Company”) announces that it has closed its previously announced non-brokered private placement (the “Side-Car Private Placement”) (see April 10, 2024 press release ), consisting of 10,000,000 common shares of Surge (the “Side-Car Common Shares”) at a price of $0.10 per Side-Car Common Share for aggregate gross proceeds of $1.0 million.
- Closing of the previously announced strategic placement (the “Strategic Placement”) (see April 2, 2024 press release ) is anticipated within the next several weeks.
- The net proceeds from the Side-Car Private Placement will be used to fund the advancement of the Berg Project, exploration, and for working capital and general corporate purposes.
- The Company paid finders fees totalling $6,000 to PI Financial Corp. and EDE Asset Management Inc. in connection with the Side-Car Private Placement.
Retrieved on:
Wednesday, April 10, 2024
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Private placement Metallurgy – a test work program will aim to advance bulk copper-molybdenum concentrate flotation parameters and to confirm copper, molybdenum, silver, and gold recovery performance into separate copper and molybdenum concentrates.
Key Points:
- Metallurgy – a test work program will aim to advance bulk copper-molybdenum concentrate flotation parameters and to confirm copper, molybdenum, silver, and gold recovery performance into separate copper and molybdenum concentrates.
- This program is fully scoped and suitable composite sample material is available and awaiting shipment.
- In the event the maximum number of Side-Car Common Shares are issued under the Side-Car Private Placement, a total of 1,764,705 additional Strategic Placement Common Shares will be purchased by ARM under the Strategic Placement, resulting in total gross proceeds to Surge between the Strategic Placement and the Side-Car Private Placement of approximately $5 million.
- The net proceeds from the Side-Car Private Placement will be used to fund the advancement of the Berg Project, exploration, and for working capital and general corporate purposes.
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Security (finance) Vancouver, British Columbia, April 02, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG ) (OTCQB: SRGXF ) (Frankfurt: G6D2 ) (“Surge” or the “Company”) is pleased to announce that it has entered into a subscription agreement for a private placement financing (the “Strategic Placement”) with a new cornerstone strategic investor, African Rainbow Minerals Limited (JSE: ARI) (“ARM”).
Key Points:
- Vancouver, British Columbia, April 02, 2024 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG ) (OTCQB: SRGXF ) (Frankfurt: G6D2 ) (“Surge” or the “Company”) is pleased to announce that it has entered into a subscription agreement for a private placement financing (the “Strategic Placement”) with a new cornerstone strategic investor, African Rainbow Minerals Limited (JSE: ARI) (“ARM”).
- Under the terms of the Strategic Placement, ARM, through its wholly-owned subsidiary ARM Copper Company Proprietary Limited (“ARM Copper”), will subscribe for 39,608,708 common shares (the “Strategic Placement Common Shares”) of Surge at C$0.095 per Strategic Placement Common Share, representing an approximately 18% premium to the 20-day volume weighted average price of the Company’s common shares on the TSX Venture Exchange as at April 1, 2024, for gross proceeds of approximately C$3,762,827.
- Upon completion of the Strategic Placement, ARM (through ARM Copper) will own 15.0% of Surge’s issued and outstanding common shares on a non-diluted basis.
- Leif Nilsson, Chief Executive Officer, commented: “We are excited to be welcoming ARM as a strategic investor into Surge.
Retrieved on:
Wednesday, February 7, 2024
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Rare-earth element A large exploration target immediately adjacent to the Berg deposit has been identified and termed the SW Berg Target.
Key Points:
- A large exploration target immediately adjacent to the Berg deposit has been identified and termed the SW Berg Target.
- A large exploration target immediately adjacent to the Berg deposit has been identified and is termed the SW Berg Target.
- The East Sibola copper in soil target has been significantly expanded during 2023 work and is a second high priority untested exploration target.
- Figure 2 shows a compilation map over the Berg - SW Berg Target area with a 2007 induced polarization geophysical survey that partially covers the SW Berg Target.
Retrieved on:
Wednesday, January 31, 2024
The hole was drilled toward the east at a dip of -65 degrees to a total depth of 660 metres.
Key Points:
- The hole was drilled toward the east at a dip of -65 degrees to a total depth of 660 metres.
- The hole returned 646 metres grading 0.33% copper equivalent (0.21% copper, 0.034% molybdenum, 3.3 g/t silver, and 0.02 g/t gold) from 14 metres depth to the end of the hole at 660 metres depth.
- Within this interval is a higher-grade zone of hypogene mineralization returning 40 metres grading 0.47% copper equivalent (0.35% copper, 0.030% molybdenum, 4.1 g/t silver, and 0.03 g/t gold) from 352 metres depth.
- Hole BRG23-245 encountered a silver rich quartz-carbonate-sphalerite-galena-pyrite-chalcopyrite vein that returned 2110 g/t silver over 1.53 metres from 303 metres depth.
The hole returned 627 metres grading 0.35% copper equivalent (0.25% copper, 0.026% molybdenum, 3.5 g/t silver, and 0.02 g/t gold) from 12 metres depth to the end of the hole at 639 metres depth.
Key Points:
- The hole returned 627 metres grading 0.35% copper equivalent (0.25% copper, 0.026% molybdenum, 3.5 g/t silver, and 0.02 g/t gold) from 12 metres depth to the end of the hole at 639 metres depth.
- Within this interval is a continuous zone of copper mineralization returning 548 metres grading 0.36% copper equivalent (0.28% copper, 0.018% molybdenum, 3.6 g/t silver, and 0.02 g/t gold) from 12 metres depth to the edge of the Berg Stock at 560 metres depth.
- The supergene sulfide zone returned higher grades including 108 metres of 0.46% copper equivalent (0.42% copper, 0.007% molybdenum, 2.6 g/t silver, and 0.03 g/t gold) from 28 metres depth, including a sub interval of 30 metres grading 0.61% copper equivalent (0.56% copper, 0.007% molybdenum, 3.0 g/t silver, and 0.04 g/t gold) from 28 metres depth.
- The hole ended within molybdenum mineralized Berg Stock returning 79 metres grading 0.085% molybdenum, 0.07% copper, and 2.8 g/t silver from 560 metres to the end of the hole at 639 metres.
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Cryptocurrency Pursuant to the Transaction, the December 2020 Option Agreement between Surge and TCM has been terminated.
Key Points:
- Pursuant to the Transaction, the December 2020 Option Agreement between Surge and TCM has been terminated.
- The Common Shares issued pursuant to the Transaction will be subject to a statutory 4-month and a day hold period.
- The Company currently has 222,047,093 issued and outstanding common shares, of which 33,075,383 are held by TCM, representing approximately 15%.
- Immediately prior to closing the Transaction, TCM held 11,854,218 Common Shares, representing approximately 6% of the Company’s issued and outstanding Common Shares.
Retrieved on:
Wednesday, December 27, 2023
The Purchase Agreement replaces an earlier December 2020 Option Agreement between Surge and TCM which allowed Surge to earn a 70% interest in the Berg Property by spending C$8 million over five years and issuing to TCM C$5 million in common shares of the Company.
Key Points:
- The Purchase Agreement replaces an earlier December 2020 Option Agreement between Surge and TCM which allowed Surge to earn a 70% interest in the Berg Property by spending C$8 million over five years and issuing to TCM C$5 million in common shares of the Company.
- Leif Nilsson, Chief Executive Officer, commented: “We are very pleased to be consolidating a 100% interest in the Berg Property, which firmly establishes our ownership position in the broader Berg-Huckleberry-Ootsa district, results in a more simplified ownership structure for all parties, and provides Surge with significantly more flexibility in future financing choices to advance its assets.
- Looking forward, our goal is to continue to advance and de-risk this large, emerging critical minerals district and systematically explore the high-potential regional targets.
- We value our partnership with Centerra and look forward to welcoming them as a significant shareholder in Surge going forward.”
The hole returned 756 metres grading 0.36% copper equivalent (0.26% copper, 0.026% molybdenum, 3.6 g/t silver, and 0.02 g/t gold) from 22 metres depth, with the hole ending in mineralization.
Key Points:
- The hole returned 756 metres grading 0.36% copper equivalent (0.26% copper, 0.026% molybdenum, 3.6 g/t silver, and 0.02 g/t gold) from 22 metres depth, with the hole ending in mineralization.
- The supergene sulfide zone returned higher grades including 90 metres of 0.46% copper equivalent (0.42% copper, 0.004% molybdenum, 2.8 g/t silver, and 0.03 g/t gold) from 66 metres depth.
- This is the second longest mineralized intercept from the Berg Deposit to date, exceeded only by hole BRG08-194 which was drilled to a total depth of 866 metres.
- Hole BRG08-194 was drilled in 2008 in the northeast part of the deposit 800 metres north of hole BRG23-243, and returned an intercept of 772.5 metres grading 0.47% copper equivalent (0.30% copper, 0.051% molybdenum, and 4.7 g/t silver (with no assays for gold)) from 21.5 metres depth.
Vancouver, British Columbia, July 28, 2023 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG ) (OTCQX: SRGXF ) (Frankfurt: G6D2 ) (“Surge” or the “Company”) is pleased to announce that it has filed a technical report titled “Berg Project NI 43-101 Technical Report and Preliminary Economic Assessment”, prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Key Points:
- Vancouver, British Columbia, July 28, 2023 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG ) (OTCQX: SRGXF ) (Frankfurt: G6D2 ) (“Surge” or the “Company”) is pleased to announce that it has filed a technical report titled “Berg Project NI 43-101 Technical Report and Preliminary Economic Assessment”, prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
- The technical report is in support of the Company’s June 13, 2023 news release announcing the results of the preliminary economic assessment for the Berg Project located in central British Columbia.
- The technical report is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.surgecopper.com .
- To view a virtual site visit of the Company’s projects, including an interactive 3D model of the Berg deposit and site layout, use the following link or visit Surge’s website:
