Seabridge Mining - Chairman and CEO, Rudi Fronk
Chairman and CEO, Rudi Fronk
Source: PWC
  • Seabridge Gold (SEA) has begun a drilling campaign at its wholly owned Iskut gold-copper project near Stewart, British Columbia
  • The program will test below the Quartz Rise Lithocap for a gold-copper porphyry mineral system
  • Up to 8,000 metres will be drilled to evaluate roughly 750 metres of strike in a similar process to that which led to the discovery of the Deep Kerr zone at the company’s nearby KSM project
  • The Iskut target has seen ongoing development over the last three years through an intensive use of geophysical tools, surface mapping and sampling, and preliminary drilling
  • Seabridge Gold (SEA) is down 1.41 per cent and is trading at C$24.49 per share

Seabridge Gold (SEA) has begun a drilling campaign at its wholly owned Iskut gold-copper project near Stewart, British Columbia.

The program will focus primarily on testing below the Quartz Rise Lithocap for a gold-copper porphyry mineral system, which is though to be similar to that found at the company’s nearby KSM project.

Over the past three years, the project has been under ongoing development through the intensive use of geophysical tools, surface mapping and sampling, and preliminary drilling. As part of this, two shallow drill programs identified a diatreme below the Quartz Rise Lithocap, which sits southeast of the historic Johnny Mountain Mine.

A number of elevated surface gold and copper concentrations within a large induce polarisation anomaly have helped to define the current program’s target location below and west of the well-developed lithocap.

Up to 8,000 metres will be drilled to evaluate roughly 750 metres of strike and over 800 metres of vertical projection evident in previously collected geophysical data.

This method is in line with the same process that directly led to the discovery of the Deep Kerr zone, which has an inferred resource of 1.9 billion tonnes grading 0.31 grams per tonne of gold and 0.41 per cent copper.

Rudi Frank, Chairman and CEO of Seabridge Gold, said he is excited to potentially confirm the presence of a porphyry system with many of the characteristics as the company’s KSM project in rocks of the same age.

“We wrestled with the challenge of implementing a drill program this season during the COVID-19 pandemic but our team has worked closely with our Tahltan Nation partners, the BC Health Ministry, suppliers and other exploration companies in the area to develop effective procedures for operating in the current global health crisis.

“Crews have new, clearly defined obligations to protect each other against infection and the spread of the virus, all of which have been embraced by our team,” he added.

Seabridge Gold (SEA) is down 1.41 per cent and is trading at C$24.49 per share at 12:32pm EDT.

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