Seabridge Gold Expects This Year's Deep Kerr Drill Results to Add Resources
November 3, 2015
TORONTO, Nov. 3, 2015 /CNW/ - Seabridge Gold today announced that results from the final two core holes drilled into Deep Kerr at its 100% owned KSM Project in northwestern British Columbia continue to expand the size of a potential low cost, underground block cave mining operation at the Deep Kerr deposit. These holes generated in-fill intersections around holes K-15-49 and K-15-50 (previously reported) and down dip from the current resource limits.
The most recent holes reported here are daughter holes that re-entered K-15-49 and K-15-50 before being wedged into new intercepts of the target zone. These new holes are shallower intersections of the high-grade west limb of Deep Kerr and confirm the continuity of that zone between the existing resource and deeper intersections in holes drilled earlier this year. K-15-49B was designed to penetrate the zone about 200 meters north of K-15-49 and roughly 200 meters above that hole. K-15-50A was drilled on the same section as K-15-50 and encountered the target zone about 250 meters higher than the earlier hole. (See http://seabridgegold.net/pdf/NNov3-15-maps.pdf.)
The five drill holes completed into the west part of the Deep Kerr deposit this year were designed to establish dip continuity of the high-grade west limb of Deep Kerr. Results show that the mineralized envelope of the west limb extends more than 450 meters along strike. Down dip, the zone shows continuity of more than 400 meters with grades and widths improving at depth. The shape of this zone continues to be highly favorable to underground bulk mining as it grows in size. The zone remains open along strike and at depth and future drill tests are expected to extend it further. However, the current focus is to better understand the evident improvement of grade at depth so as to direct future drilling into the highest grade material.
In the past three years, Seabridge has successfully targeted higher grade zones beneath KSM's near-surface porphyry deposits, resulting in the discovery of Deep Kerr and the Iron Cap Lower Zone, two copper-rich deposits that to date have added nearly one billion tonnes of inferred resources to the project at a higher average grade. Furthermore, the expansion potential of the east limb of Deep Kerr has not been evaluated but remains a high value target. Exceptionally high grade intercepts found on the east limb have not been followed to depth.
Seabridge Chairman and CEO Rudi Fronk commented that "every time we drill Deep Kerr, we increase both the mineralized material in hand and the potential upside. This year, we achieved our aim of increasing the size and confirming the continuity of mineralization at our proposed block cave operation at Deep Kerr. We are confident that the results will substantially increase resources. At the same time, we also learned that grade increases at depth, especially for gold, and that we still have not found the limits of the deposit. We are also becoming more intrigued with the high grade potential of the less-explored east limb. Our focus at the moment is on enhancing the near-term value of KSM but the big picture continues to unfold in a most exciting way. The more we learn about KSM, the less we know about its limits."
The following table summarizes the significant drill hole intersections for K-15-49B and K-15-50A.
Drill holes were designed to intercept the mineralized target at right angles to the strike of the zone and oriented using current and historical information. The true thickness of the mineralized zones may be refined with additional drilling but current information indicates that the intervals reported above approximate true thickness.
Exploration activities by Seabridge at the KSM Project are 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 drilling campaigns. This program includes blank and reference standards, and in addition all copper assays that exceed 0.25% Cu are re-analyzed using ore grade analytical techniques. Cross-check analyses are conducted at a second external laboratory on at least 10% of the drill samples. Samples are assayed at ALS Chemex Laboratory, Vancouver, B.C., using fire assay atomic adsorption methods for gold and ICP methods for other elements.
Seabridge holds a 100% interest in several North American gold projects. The Company's principal assets are the KSM Project located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories. For a full breakdown of Seabridge's mineral reserves and mineral resources by category please visit the Company's website athttp://www.seabridgegold.net/resources.php.