Surge Exploration has agreed to acquire 100% stake in a copper-gold mineral mountain property in the Omineca mining division in British Columbia (BC), Canada from Venture Capital IQ.
The 197km2 property to be acquired by Surge Exploration is located about 150km north of Fort St. James. It comprises nine mineral claims that are not subject to any back-in rights, royalty terms, payments or any other agreements and encumbrances.
According to the Canadian mineral exploration company, the region, in which the mineral claims are located, is host to various operating mines and good infrastructure in addition to experienced exploration and supporting services.
As per an assessment report data from British Columbia’s mineral inventory (MINFILE), most of the area that hosts the nine mineral claims was covered by staking carried out since the 1940’s.
Mostly, the mineral claims look to be minimally explored with hardly any follow-up. Some work though was recorded on various claims with results for stream sediment sampling indicating anomalous to highly anomalous results for gold in certain areas.
Surge Exploration said that a detailed follow-up has been recommended for the areas but owing to a previous commodity price downturn, no further work was recorded to have been done.
Among the important early discoveries in the Omineca region were the nearby Lustdust/Stardust property, the Kwanika property, which is an advanced stage copper-gold project, and the Lorraine property, which is a large copper/gold deposit.
Surge Exploration director Bill Bennett said: “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.”
The acquisition will be subject to an approval from the TSX Venture Exchange.
Last month, Surge Exploration through its Chilean subsidiary entered into an arm’s length Memorandum of Understanding (MOU) with Miguel Angel Pérez Vargas for an option to acquire up to 100% of the Incahuasi Lithium Project located in the Antofagasta mining region in Chile.