Toronto, Canada… Seabridge Gold (TSX:SEA) (NYSE:SA) reports today that core drilling will commence shortly at its 100%-owned Iskut project in British Columbia to continue testing below the Quartz Rise Lithocap for a gold-copper porphyry mineral system similar to those on Seabridge’s nearby KSM Project.
The Iskut target has been developed over the past four years, making extensive use of geophysical surveys including IP, magnetic, hyperspectral and magnetotelluric (MT) evaluations. Surface mapping, geochemical sampling, preliminary drilling and 3-dimensional modeling have augmented the geophysical exploration and continue to indicate potential for a large gold-copper porphyry system.
In 2020, Seabridge drilling intersected a corridor of porphyritic intrusive rock endowed with gold and copper. These intercepts project upward to a diatreme situated directly below the Quartz Rise Lithocap. The intrusive rocks encountered have been age dated to be within the timeframe of the KSM mineral system. The program planned for 2021 was initiated in June with an MT survey and now continues with planned drilling of approximately 3,200 meters.
Seabridge Chairman and CEO Rudi Fronk commented: “Seabridge acquired the large land package at Iskut because of its many characteristics similar to our giant KSM project. Since the acquisition, we have refined our target ideas with additional data and experience from KSM. The structural complexity of this terrain made us proceed methodically and we now have multiple lines of evidence that point to a coherent target for the gold-copper porphyry source. We continue to operate mindful of the COVID-19 threat and maintain the procedures with all our partners that delivered a safe and successful program completion last year.”
We continue to believe the extensive surface expression of gold and copper geochemistry and alteration at and below the Quartz Rise Lithocap was formed by a significant, undiscovered gold-copper porphyry system at depth. Drilling to date reports results that are consistent with the upper explosive manifestation of such a system. Multiple data sets have independently identified a potential location for the undiscovered porphyry host intrusion. Drilling will be directed at this feature.
Exploration activities by Seabridge at the Iskut Project are being conducted under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice President of the Company and a Qualified Person as defined by National Instrument 43-101. Mr. Threlkeld has reviewed and approved this news release. An ongoing and rigorous quality control/quality assurance protocol is employed in all Seabridge exploration campaigns. This program includes blank, duplicate and reference standards. Cross-check analyses are conducted at a second external laboratory on at least 10% of the drill samples.
Seabridge holds a 100% interest in several North American gold projects. Seabridge’s assets include the KSM and Iskut projects located near Stewart, British Columbia, Canada, the Courageous Lake project located in Canada’s Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory. For a full breakdown of Seabridge’s mineral reserves and mineral resources by category please visit the Company’s website at http://www.seabridgegold.com.
