Seabridge Gold (TSX:SEA) (NYSE:SA) announced today two drilling rigs have been mobilized to KSM and drilling has commenced. Three additional rigs will be added when snow conditions permit. In total, Seabridge is budgeting $19.7 million for about 28,000 meters of drilling and surface work in the 2018 exploration program.
The principal objectives for KSM in 2018 are to: (i) complete 21,000 meters of drilling to test the down plunge projection of the high grade core zone of the Iron Cap Deposit to the west of the current resource; (ii) evaluate the relative positioning between Iron Cap resources and the currently planned alignment of the Mitchell-Treaty Tunnel; and (iii) undertake additional geotechnical and model confirmation drilling to help refine engineering parameters for the deposits.
The lower elevation geotechnical and confirmation drilling will proceed first and should be completed by late June, at which time the Iron Cap deposit should be accessible.
Seabridge Chairman and CEO Rudi Fronk commented: “This is an aggressive program at KSM. Our main goal is to bring the Iron Cap resource up to a level where we can assess the significance of its potential contribution to the overall project. We believe that Iron Cap has considerable room to grow and its superior grade and proximity to planned infrastructure could have a major impact on KSM economic projections. The geotechnical and confirmation drilling is dedicated to ensuring that the project is ready for final feasibility work when a partner is secured.” See the news release dated February 13, 2018 for details of the current inferred resource estimate for Iron Cap (1.3 billion tonnes at 0.48 g/t gold and 0.30% copper containing 20.0 million ounces of gold and 8.6 billion pounds of copper).
Exploration activities by Seabridge at the KSM Project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101. Mr. Threlkeld has reviewed and approved this news release. An ongoing and rigorous quality control/quality assurance protocol is employed in all Seabridge drilling campaigns. The sampling program includes blank, duplicates and reference standards, with all copper assays that exceed 0.25% Cu re-analyzed using ore grade analytical techniques. Cross-check analyses are conducted at a second external laboratory on at least 10% of the drill samples. Samples are assayed at ALS Chemex Laboratory, Vancouver, B.C., using fire assay atomic adsorption methods for gold and ICP methods for other elements.
Seabridge holds a 100% interest in several North American gold projects. The Company’s principal assets are the KSM Project and Iskut Project located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories. For a full breakdown of Seabridge’s mineral reserves and mineral resources by category please visit the Company’s website at http://www.seabridgegold.net/resources.php.