Source: Streetwise Reports 01/10/2019
Discoveries, 2019 exploration plans and financings fill the agenda for this gold explorer/developer that has the attention of numerous analysts.
From new targets at prime locations to major multi-million-dollar financings, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) begins 2019 with many projects in the works.
New Target at Iskut
In late December 2018, the company announced that summer drilling at its 100%-owned Iskut Project in northwestern British Columbia “encountered the hallmarks of a large copper-gold porphyry system.”
The company zeroed in on the Quartz Rise lithocap in 2018. Specifically, it focused on testing for high-grade epithermal precious metal occurrences associated with the uppermost portion of a porphyry mineral system. The drill results indicated that most of the Quartz Rise lithocap had eroded. The company noted that hydrothermal breccia (diatreme) discovered in holes QR-18-14 and 17 confirmed that a porphyry source for the lithocap was nearby.
Seabridge Chairman and CEO Rudi Fronk noted, “We acquired Iskut in 2016 because it showed clear evidence of a large porphyry system similar in age and geology to our KSM project 30 kilometers to the east. Our view was that the Iskut porphyry was likely too deep to be our primary target and we therefore focused initially on finding a lithocap-hosted epithermal top of the porphyry system. We have since learned that this target is probably not viable in the Quartz Rise area due to erosion. However, we are very excited to find that this same erosion has given us the opportunity to explore for another KSM-style porphyry system located much closer to surface than we anticipated. This is the target we will now pursue at Iskut.”
Iron Cap Extension
Meanwhile, at Seabridge Gold’s 100%-owned KSM project in northwestern British Columbia, Seabridge confirmed the down plunge extension of the Iron Cap core zone. “Results include some exceptional widths of gold and copper mineralization with grades exceeding the KSM resource average,” the company noted. Hole IC-18-83, in particular, returned 548 meters of 0.63 g/t gold and 0.44% copper.
During the 2018 drilling program, management 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.”
According to Fronk, “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.”
Aside from the 10 holes drilled in the northwest plunge projection, Seabridge also has three holes in its southwest plunge projection and one more in its northeast up dip projection.
Collectively, the drill holes were designed to test down plunge and across the Iron Cap deposit.
In late November, Seabridge announced the …read more
Source:: The Gold Report