Seabridge Gold Successfully Extends Iron Cap Deposit’s High Grade Core Zone Down Plunge to the Northwest

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By peterc on December 13, 2018. No Comments

Hole IC-18-83 returns 548 meters of 0.63 gpt gold and 0.44% copper
2018 exploration drilling finds southern limits of Iron Cap core zone

The remaining drill holes completed this year on the Iron Cap deposit at Seabridge Gold’s 100%-owned KSM project in north western British Columbia have confirmed a northern down plunge extension of the high grade core zone originally discovered by Seabridge in 2016. Results include some exceptional widths of gold and copper mineralization with grades exceeding the KSM resource average. Work is now in progress on an updated resource estimate for Iron Cap.

This year’s principal exploration objectives were to test the down plunge projection of the high-grade core zone of the Iron Cap Deposit to the west of the current resource and evaluate the relative positioning between Iron Cap and the currently planned alignment of the Mitchell-Treaty Tunnel (MTT). Due to its proximity to the MTT and its higher grade, Iron Cap could potentially improve KSM’s economics by mining it before the Kerr deposit. The 2018 program successfully tested the down plunge projection of the Iron Cap core zone, assessed the impact of post-mineral intrusions on the south end of the Iron Cap deposit and obtained data for the optimum alignment of the proposed Mitchell-Treaty Tunnel (MTT) which would transfer ore to the proposed mill.

Seabridge Chairman and CEO Rudi Fronk commented: “Iron Cap has clearly become one of the best deposits in the KSM cluster, not only for its superior grade but also due to its proximity to infrastructure, which we expect will require less capital to develop than the Kerr and Sulphurets deposits, and also its size and orientation which favour efficient, cost-effective underground block cave mining. We believe the impact of Iron Cap on the economic potential of KSM will help us conclude a joint venture partnership on positive terms.”

Drill holes from this season’s program can be divided into the program’s three target areas: the northwestern down plunge projection of the high grade core zone; the northeastern up-dip projection of the core zone; and the potential for a southern extension. Drilling of the northwestern projection, including holes IC-18-74B*, 75*, 75B, 81, 82, 82A, 83 and 85 and 85A, will likely result in a resource expansion. This was difficult drilling due to a wide Sulphurets Thrust Fault (STF) interval and problems supplying the drills with adequate water. Consequently, holes IC-18-80 and 80A did not penetrate the STF, holes IC-18-074 and 82 were lost when the fault zone collapsed after initially advancing through the STF, and holes IC-18-80B and 81A were abandoned due to lack of drilling water. IC-18-84 confirmed a shallow up dip extension of the core zone to the northeast. On the southern end of the core zone, the plunge projection was targeted by holes IC-18-76, 77 and 79. Although the pattern of rocks approaching the core zone was intact, a post mineral intrusion appears to have cannibalized much of the high-grade material in this localized area.  (* indicates drill hole results released on October 11, 2018)

See complete release at http://seabridgegold.net/news.php

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