Surge Copper Reports Excellent Metallurgical Results Supporting Pre-Feasibility Advancement at Berg Project

Core Viewpoint - Surge Copper Corp. has successfully completed metallurgical testwork for its Berg Project, achieving over 90% recovery rates for copper and molybdenum, confirming the effectiveness of conventional flotation processes and the quality of final products [1][6][10]. Group 1: Testwork Overview - The metallurgical program was initiated following a successful Preliminary Economic Assessment (PEA) and involved over 1,350 kilograms of material to create three primary composites representing different mineral zones [3][7]. - The testwork aimed to improve recovery profiles and validate flotation performance across various lithologies, with 27 variability composites created to assess recovery correlations [4][5]. Group 2: Recovery Results - Locked cycle testing achieved up to 90.7% copper and 93.0% molybdenum recovery to a bulk concentrate grading 29.7% copper [7][13]. - Excellent copper-molybdenum separation was confirmed, with molybdenum recoveries of 94.6% and 95.6% from bulk concentrates across hypogene and supergene composites, respectively [7][15]. Group 3: Economic Implications - The results validate the flowsheet used in the PEA, indicating potential for higher expected metal recoveries compared to the conservative estimates of 80% for copper and 75% for molybdenum [9][10]. - The project is positioned as a technically robust, high-margin asset, with the testwork reinforcing the disconnect between the project's fundamental value and market perception [10][20]. Group 4: Future Plans - Surge plans to refine geometallurgical modeling of the Berg deposit to enhance recovery rates, particularly by better delineating supergene and hypogene mineralization [20]. - Additional testing will include optimization for precious metals and further exploration of flow sheet opportunities, such as HPGR and coarse particle flotation [22]. Group 5: Company Background - Surge Copper Corp. is advancing a critical metals district in British Columbia, owning multiple advanced porphyry deposits with compliant resources of copper, molybdenum, gold, and silver [26][27]. - The Berg Project is highlighted for its large-scale, long-life potential, with a base case NPV of C$2.1 billion and an IRR of 20% based on long-term commodity prices [27].