Name of the Project
Berg gold project.

Location
Tahtsa Ranges of British Columbia, Canada.

Project Owner/s
Canadian-based mineral exploration and development company Surge Copper Corp.

Surge announced a nonbrokered private placement of up to C$20-million on February 10, 2026, in which African Rainbow Minerals is eligible to participate, in line with its equity holding. The funding will support advancement of the project through the next phases of permitting and technical evaluation. 

This follows ARM’s earlier exercise of its rights under an investor rights agreement, during which it acquired 1.6-million in shares for C$0.24 million in a top-up offering.

Project Description
The project has an estimated 30-year life-of-mine, with average yearly production of 191-million pounds of copper equivalent. 

Mine planning is based on large-scale conventional drill, blast, load and haul openpit mining methods suited to the project location and local site requirements.

The process design is based on processing mineralised material from the Berg deposits through copper and molybdenum flotation to produce saleable copper and molybdenum concentrates.

Mine facilities include:

• mining administration offices, a mine fleet, truck shop and mine workshop, as well as wash bays;
• common facilities, including an entrance/exit gatehouse, a security/medical office, an overall site administration building, potable water and fire water distribution systems, compressed air facilities and power distribution facilities, as well as diesel reception and communication areas;
• a near-pit mineralised material and waste crushing facility with associated electrical infrastructure;
• process facilities housed in the process plant, including grinding and classification, flotation, regrinding, concentrate handling, reagent mixing and distribution, as well as an assay laboratory, process plant workshop and warehouse; and
• an on-site camp, tailings and waste management facility, as well as a nonacid-generating rock storage facility.

The processing plant is designed for a throughput of 90 000 t/d at 92% availability. The crushing circuit is designed with an availability of 75%. Average production is estimated at 125.9-million pounds of copper, 13.3-million pounds of molybdenum, three-million ounces of silver and 12 000 oz of gold.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
On an after-tax basis, the net present value, discounted at 8%, is estimated at C$2.08-billion and the internal rate of return at 20%, with a payback period of 3.9 years.

Capital Expenditure
About C$1.97-billion.

Planned Start/End Date
Not stated.

Latest Developments
Surge Copper has made strong progress on the project prefeasibility study, which remains on track for completion in 2026. This will allow for the feasibility study and the submission of the environmental authorisation application for review and approval to start.

Key Contracts, Suppliers and Consultants
ALS Metallurgy Kamloops (metallurgical test programme) and Ausenco Engineering Canada (lead consultant – PFS); and Moose Mountain Technical Services (mineral resource estimation, openpit design and scheduling).

Contact Details for Project Information
Surge Copper, tel +1 604 718 5454 or email info@surgecopper.com.