The New Nanik property is situated in a very well-mineralized region.
These are the two most well known copper deposits in the neighbourhood.
The Berg Cu/Mo Deposit
The Berg resource is a classic ~1.5 billion tonne calc-alkaline Cu-Mo porphyry deposit 5 km from the New Nanik property boundary.
As described in a Surge Copper June 2023 news release, a new Preliminary Economic Analysis (PEA) of the Berg project presents a 43-101 compliant project plan showing a standalone open pit copper mine with a projected capital cost of approximately $2 billion and a 30-year life.
In early 2024 African Rainbow Minerals, one of the largest mining companies in South Africa, purchased a 15% stake in Surge Copper, the owners of Berg.
The Huckleberry Cu/Mo Mine
The Huckleberry mine, approximately 30 km east of New Nanik, was also built on a classic Cu/Mo porphyry deposit, though one much smaller than Berg.
The mine was started in 1997, operated until 2016, and is now under care and maintenance.
Huckleberry is owned by Imperial Metals, a public mining company with a market capitalization in June, 2024 of approximately $352M Canadian.