Surge Exploration Inc. (Surge) has entered into a purchase and sale agreement with Venture Capital IQ Inc. dated 27 November 2018, whereby Surge has acquired 100% interest in 9 mineral claims comprising 19 665 ha (197 km2) located in North Central British Columbia. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services. The transaction is subject to TSX Venture Exchange (Exchange) approval.
“We’re excited at Surge Exploration to acquire approximately 200 km2 (85 sq. mi) of tenures in such a propitious area of BC.” commented the Honourable Bill Bennett, Surge Director and three-time former BC Energy and Mines Minister.
“This area of the Province has already generated several promising projects, and our land package is strategically situated to exploit the high copper-gold values of the region. BC is a mining-friendly jurisdiction with reasonable processes, good infrastructure and potential First Nation partners – extending Surge’s land holdings from Chile and Ontario to this region of BC makes our company stronger.”
About the property
The Omineca group of nine claim blocks lie 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.
BC 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, epithermal system; the Kwanika property (Serengeti Resources Inc./POSCO Daewoo) a promising advanced stage copper-gold project; the Lorraine property (Lorraine Copper Corp.) host to a large copper/gold NI 43-101 compliant resource. The 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.
Once a detailed compilation of all available data has been collected and assessed, management will prepare a plan and budget for an exploration programme to be carried out once the field season starts in 2019.
Read the article online at: https://www.globalminingreview.com/finance-business/29112018/surge-exploration-acquires-copper-gold-property-in-bc/