EXPLORATION UPDATE – 2018 Phase II Drilling Program; Glencore Bucke Property
Vancouver, BC – October 29th, 2018 –Surge Exploration Inc. (“the Company” or “Surge”) (TSXV: SUR, OTC: SURJF, FRA: DJ5C) is pleased to announce an update on the 2018 Exploration Program for the Teledyne Cobalt & Glencore Bucke Properties situated in Bucke & Lorraine Townships, 6 km east-northeast of Cobalt, Ontario. The 2018 Exploration Program was originally announced on September 25th, 2018 and commenced on October 1st, 2018 on the Glencore Bucke Property.
“We are very pleased with the results so far on the Glencore Bucke Phase 2 drilling program,” commented Tim Fernback, Surge President and CEO. “We have successfully drilled 14 diamond drill holes to date, totalling 1,356 m ( 4,450 ft) on Glencore Bucke. The exploration program has gone as planned, with no significant issues or challenges, which is nice to see.”
The current exploration plan calls for an additional 1,500 m (4,921 ft) on the Glencore Bucke Property before moving the drill rig to the Teledyne Cobalt Property where an additional 1,500 m (4,921 ft) is planned. Surge management believes that the 2018 exploration program is on track to completed by the end of the year, with assay results coming back from the lab at the beginning of 2019. Mr. Fernback further comments “We continue to work on planning the Phase 3 diamond drilling programs on the Glencore Bucke and Teledyne Cobalt Properties proposed for 2019. This work will form the basis of the work required to complete a 43‐101 compliant resource estimation.”
In addition to the current drilling program, a limited exploration program has commenced including including geological mapping and prospecting that will define drill targets in under-explored areas on the Properties. Management believes that significant potential remains on the Glencore Bucke and Teledyne Cobalt Properties for the discovery of parallel mineralized zones.
The 2018 exploration program currently has a crew of nine people working and two drill rigs active on the Cobalt Ontario properties.
Historical Work Completed
Glencore Bucke Property
In 1981, Teledyne Canada Ltd., completed 36 diamond drill holes totaling 10,903 ft (3,323.3 m) on the Property, and delineated two mineralized zones, named the Main Zone and Northwest Zone, measuring 500 ft (152.4 m) and 200 ft (70.0 m) in length respectively (Bresee, 1982). Based on the surface drill program completed by Teledyne, historical reserves of 60,000 tons in the geologically inferred category, and 15,000 tons in the probable category, at an average grade of 0.45% Co, 3.0 oz/t Ag was estimated (Linn, 1983).
From 1979 through to 1980, Teledyne Canada Ltd., completed 6 surface diamond drill holes and 22 underground diamond drills for an aggregate of 3,160.8 m (10,370 ft.) on the Teledyne Cobalt Property. Based on the surface and underground diamond drill programs, historical reserves of 60,000 tons in the geologically inferred category, and 40,000 tons in the probable category, at an average grade of 0.45% Co, 0.6 oz/t Ag was estimated (Linn, 1983).
It should be noted that the reserve estimates above are historical estimates as defined by National Instrument 43-101. The historical reserve estimates contain categories that are not consistent with current CIM definitions. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. No attempt was made to reconcile the historical reserve calculations as reported by Teledyne Canada Ltd.. Surge is not treating the historical reserve estimate as a current mineral resource or mineral reserve.
Once the final assay results are received from the Teledyne and Glencore Bucke Cobalt Project, Surge will evaluate the results to develop a subsequent 2019 diamond drilling program for each Property.
Surge Exploration Inc. has implemented a quality assurance/quality control (QA/QC) program for both the Glencore Bucke and Teledyne Property drill programs.
Diamond drill core was logged, then split in half, with one half placed in a labelled bag, and the remaining half placed back into the core box and stored in a secured compound. A blank and a standard were inserted in the sampling sequence at every 26th and 27th place. All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A 0.25g sample is digested with a near total digestion (4 acid) and then analyzed using an ICP. QC for the digestion is 14% for each batch, 5 method reagent blanks, 10 in‐house controls, 10 samples duplicates, and 8 certified reference materials. An additional 13% QC is performed as part of the instrumental analysis to ensure quality in the areas of instrumental drift. If over limits for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid dissolution followed by ICP‐OES is completed. For Ag over limits, a four‐acid digestion is completed followed by ICP‐OES.
The technical content of this news release has been reviewed and approved Joerg Kleinboeck, P.Geo., an independent consulting geologist and a qualified person as defined in NI 43‐101.
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. The Company has an exploration office in Santiago, Chile to review mineral exploration opportunities in Chile and elsewhere in South America.
Cobalt Ontario Properties
The Company has an option to earn an undivided 60% interest in the Glencore Bucke Property and the Teledyne Property, located in Cobalt Ontario.
Atacama Cobalto Project:
The Atacama Cobalto Project is located in the Atacama Province in northern Chile, 15 km northwest of the town of Copiapó, where mining is the largest economic activity, and the mining industry is one of the region’s major employers. The Atacama Cobalto Project consists of 1,059 hectares and is located only 3 km East of the Cerro Iman Mine. To date, CAP Minería has drilled over 20,250 m on the Atacama Coblato Project. The option on this project is subject to TSXV approval.
Hedge Hog Property, 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.
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.