Surge Exploration has entered into a Purchase and Sale Agreement with Venture Capital IQ for an option to acquire up to 100% interest in the Omineca Mining Division in North Central British Columbia.
This transaction is subject to TSX Venture Exchange approval. To read the news release dated November 28, 2018, announcing the Mineral Mountain Project, please click here.
The Mineral Mountain tenure consists of 19,665 hectares and is surrounded by several other prosperous mining projects. B.C. Minfile assessment report data indicates that most of the area covered by the Omineca Group’s 9 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.
The Surrounding Region
Prominent among early discoveries in the Omineca region were the nearby Lustdust/Stardust property (Sun Metals Corp. TSXV: SUNM) covering a large, coherent integrated porphyry-skarn, epithermal system; the Kwanika property (Serengeti Resources Inc./POSCO Daewoo TSXV: SIR) a promising advanced stage copper-gold project; the Lorraine property (Lorraine Copper Corp. TSXV: LLC) host to a large copper/gold NI 43-101 compliant resource.
The properties are approximately 150 km north of Fort St. James and are accessible by good infrastructure, including experienced exploration and supporting services.
The Company will pay Venture Capital IQ Inc. $40,000 upon signing the Agreement and issue 1,000,000 fully paid and non-assessable common shares in the capital of Surge upon Exchange approval.
All shares issued are subject to a four month and a day hold period in accordance with applicable securities laws.
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