The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Seabridge confident it is getting closer to KSM-like deposit North of 60 Mining News – November 13, 2020
The 2020 program at Iskut cut intervals of up to 158 meters averaging 0.16 g/t gold and 0.16% copper, indicating that drilling to date is in the outer portions of a porphyry system.
Seabridge Gold Inc. Nov. 11 reported that this year's 8,961-meter drill program at Iskut provides further evidence of a large porphyry copper-gold system lying below the drilling completed so far at this early staged exploration project in the heart of British Columbia's Golden Triangle.
Situated about 30 kilometers (19 miles) west of Seabridge's world-class KSM gold-copper project, Iskut is home to the historical high-grade Johnny Mountain gold-silver-copper mine.
Seabridge says its three years of intensive use of geophysical tools, surface mapping, sampling, and preliminary drilling has isolated a promising source of the Quartz Rise lithocap southeast of Johnny Mountain. Lithocaps are typically formed above a deeper porphyry system, which is the larger gold-copper deposit Seabridge is seeking at Iskut.
The company reports that results from the 11 holes drilled this year to test geophysical anomalies below the Quartz Rise lithocap are consistent with the alteration halo from a large porphyry system.
This includes mineralized intervals of up to 158 meters averaging 0.16 grams per metric ton gold and 0.16% copper, indicating that drilling to date is in the outer portions of the porphyry system Seabridge is pursuing.
The drilling also tapped shorter sections of higher grade mineralization, including 31.8 meters averaging 0.62% copper.
"Our team is confident that a potentially productive mineral system has been identified at Iskut," said Seabridge Gold Chairman and CEO Rudi Fronk. "We think we are into the periphery of a large system which accounts for the size and intensity of the geophysical and chemical anomalies we have identified."
The next step at Iskut is to vector to the heart of that system, which may still exist at some depth below the depth of the drilling completed so far. Analysis of the intrusive rocks, trace element geochemistry, alteration mineralogy, structural and deformation settings is being undertaken to refine targets.
"Results from this year's work will help to refine targets for next year," Fronk added.
Seabridge said this year's filed work at Iskut was conducted under rigorous COVID-19 protocols to minimize transmission risks, resulting in a successful although scaled back program with no infections among staff, contractors, or local communities.
"It was very encouraging to advance the project this season during the COVID-19 pandemic," said Fronk. "We wish to thank our Tahltan Nation partners, suppliers, and contractors for operating in an exemplary and responsible manner during the current global health crisis."
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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