The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Seabridge Gold March 25 reported an inaugural inferred resource of 164 million metric tons grading 0.59 grams per metric ton (3.1 million ounces) gold and 0.27 percent (961 million pounds) copper for the Iron Cap Lower Zone at its KSM copper-gold project in northwestern British Columbia.
The grade of this core zone is significantly higher than the Iron Cap resource which lies above.
Core zones are the deeper focused parts of porphyry deposits characterized by higher flow of mineralized fluids and abundant veining which generally results in higher grades than the shallower margins of the porphyry deposits usually associated with them.
Since 2012, Seabridge has been exploring for core zones beneath the known porphyry deposits at KSM with the objective of enhancing grades and improving project economics.
This work has resulted in the discovery of Deep Kerr and the Iron Cap Lower Zone.
Seabridge Chairman and CEO Rudi Fronk said, "We think this (Iron Cap Lower Zone) deposit is likely to get much bigger and with potentially higher grades as well.
We will test this hypothesis in this year's drilling using the funds from this month's financing.
Perhaps more importantly, we are learning how and where to find better material and we now think that our greatest opportunity may lie under the very large Mitchel deposit.
That is now a key target for the 2015 drill season." Seabridge arranged a C$14.2-million financing earlier this year.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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