Seabridge targets high-grade gold at KSM

Seabridge Gold Inc. Aug. 27 announced the start of a 4,000-meter drill program designed to follow-up on high-grade gold identified during 2018 geotechnical drilling within the proposed Sulphurets pit at the company's KSM project in British Columbia's Golden Triangle.

The four main deposits at KSM – Kerr, Sulphurets, Mitchell and Iron Cap –host 2.98 billion metric tons of measured and indicated resources averaging 0.52 grams per metric ton (49.7 million ounces) gold, 0.21 percent (13.9 billion pounds) copper, 2.8 g/t (265 million oz) silver and 54 parts per million (312 million lb) molybdenum; plus 4.56 billion metric tons of inferred resource averaging 0.38 g/t (56.3 million oz) gold, 0.32 percent (32 billion lb) copper, 2.4 g/t (349 million oz) silver and 32 ppm (295 million lb) molybdenum.

Waste characterization and geotechnical drilling completed at Sulphurets last year cut high-grade gold that includes two meters of 1,580 grams (50.8 ounces) per metric ton gold and 209 g/t silver from a depth of 69 meters in hole S-18-81; 12.2 meters of 5.8 g/t gold and 7.2 g/t silver from 21 meters, and four meters of 18.5 g/t gold and 30.6 g/t silver from 112 meters in S-18-82; and two meters of 4.4 g/t gold and three g/t silver from 117 meters in S-18-83.

These results prompted Seabridge to go over data from past drilling, turning up these intercepts from drilling in the same area during 2005 and 2011: two meters of 9.2 g/t gold and 7.5 g/t silver from 120 meters in MC-05-03; and 2.3 meters of 19.6 g/t gold and 5.8 g/t silver from 151.2 meters in S-11-70.

These intersections are clustered within a newly identified northeast trending structure that extends for at least 800 meters along strike. The width of this zone is expected to be more clearly defined after the 16 holes slated for completion this fall. Expectations are that this epithermal-style structure consists of veins with abundant pyrite and localized zones of high-grade gold. Successful delineation of this target, which is located within the pit but outside of the current resource, would have a positive impact on the resource since the pit block model currently classifies this area as waste.

"Our original plans for this year at KSM were focused on completing geophysical surveys to help refine the limits of the existing four porphyry deposits and look for a fifth" said Seabridge Gold Chairman and CEO Rudi Fronk. "A concept to expand the 1500 g/t intersection drilled last year grew out of these surveys and the target was too compelling to ignore."

The C$2.5 million drill program is expected to be completed by October.

–SHANE LASLEY