Promising Results from Drilling at Seabridge Gold's Iskut Project
Seabridge Gold (TSX:SEA) (NYSE:SA) has announced promising results from its exploration drilling at the 100% owned Iskut project in BC's Golden Triangle. The drilling at the Snip North target revealed broad widths of gold and copper mineralization within a large potassic alteration system. Key findings include:
- Hole 17: 303m of 0.75 gpt gold and 0.10% copper
- Hole 18: 478m of 0.49 gpt gold and 0.13% copper
- Hole 20: 532m of 0.48 gpt gold and 0.10% copper
The scale and character of the mineralization suggest a nearby porphyry intrusive source. The company believes this could be a significant discovery in the making, potentially unlocking the porphyry potential of the Iskut project.
Seabridge Gold (TSX:SEA) (NYSE:SA) ha annunciato risultati promettenti dai suoi sondaggi esplorativi presso il progetto Iskut, di cui detiene il 100%. I sondaggi nel target Snip North hanno rivelato ampie larghezze di mineralizzazione di oro e rame all'interno di un ampio sistema di alterazione potassica. I risultati chiave includono:
- Foro 17: 303m di 0.75 gpt di oro e 0.10% di rame
- Foro 18: 478m di 0.49 gpt di oro e 0.13% di rame
- Foro 20: 532m di 0.48 gpt di oro e 0.10% di rame
La scala e il carattere della mineralizzazione suggeriscono una fonte intrusiva porfirica vicina. L'azienda crede che questo possa essere una scoperta significativa in fase di realizzazione, con la possibilità di sbloccare il potenziale porfirico del progetto Iskut.
Seabridge Gold (TSX:SEA) (NYSE:SA) ha anunciado resultados prometedores de su perforación de exploración en el proyecto Iskut, del cual posee el 100%. La perforación en el objetivo Snip North reveló amplios anchos de mineralización de oro y cobre dentro de un gran sistema de alteración potásica. Los hallazgos clave incluyen:
- Pozo 17: 303 m de 0.75 gpt de oro y 0.10% de cobre
- Pozo 18: 478 m de 0.49 gpt de oro y 0.13% de cobre
- Pozo 20: 532 m de 0.48 gpt de oro y 0.10% de cobre
La escala y el carácter de la mineralización sugieren una fuente intrusiva porfirítica cercana. La empresa cree que esto podría ser un descubrimiento significativo en proceso, liberando potencialmente el potencial porfirítico del proyecto Iskut.
Seabridge Gold (TSX:SEA) (NYSE:SA)는 BC주 골든 트라이앵글에 있는 100% 소유의 이스쿠트 프로젝트의 탐사 드릴링에서 유망한 결과를 발표했습니다. Snip North 목표 지점에서의 드릴링은 금과 구리 광물화의 넓은 폭이 대규모 칼리 킬 저변의 변성과 함께 나타났습니다. 주요 발견 사항은 다음과 같습니다:
- 홀 17: 303m에서 0.75 gpt의 금과 0.10%의 구리
- 홀 18: 478m에서 0.49 gpt의 금과 0.13%의 구리
- 홀 20: 532m에서 0.48 gpt의 금과 0.10%의 구리
광물화의 규모와 특성은 인근에 있는 포르프리 성체의 출처를 시사합니다. 회사는 이것이 중요한 발견이 되고 있는 가능성이 있다고 믿고 있으며, 이스쿠트 프로젝트의 포르프리 가능성을 열어줄 수 있습니다.
Seabridge Gold (TSX:SEA) (NYSE:SA) a annoncé des résultats prometteurs de ses forages d'exploration sur le projet Iskut, dont il détient 100%. Les forages sur la cible Snip North ont révélé des largeurs importantes de minéralisation d'or et de cuivre à l'intérieur d'un vaste système d'altération potassique. Les résultats clés incluent :
- Forage 17 : 303 m de 0,75 gpt d'or et 0,10 % de cuivre
- Forage 18 : 478 m de 0,49 gpt d'or et 0,13 % de cuivre
- Forage 20 : 532 m de 0,48 gpt d'or et 0,10 % de cuivre
L'échelle et le caractère de la minéralisation suggèrent une source intrusif parphyrique à proximité. L'entreprise croit que cela pourrait constituer une découverte significative en cours qui pourrait libérer le potentiel porphyrique du projet Iskut.
Seabridge Gold (TSX:SEA) (NYSE:SA) hat vielversprechende Ergebnisse aus seinen Explorationsbohrungen im 100%-eigenen Iskut-Projekt im goldenen Dreieck von BC angekündigt. Die Bohrungen am Snip North Ziel zeigten breite Mineralisierungen von Gold und Kupfer innerhalb eines großen potassischen Alterationssystems. Wichtige Ergebnisse sind:
- Bohrung 17: 303m mit 0.75 gpt Gold und 0.10% Kupfer
- Bohrung 18: 478m mit 0.49 gpt Gold und 0.13% Kupfer
- Bohrung 20: 532m mit 0.48 gpt Gold und 0.10% Kupfer
Der Umfang und die Beschaffenheit der Mineralisierung deuten auf eine nahegelegene porphyrische Einsprenglingsquelle hin. Das Unternehmen glaubt, dass dies eine bedeutende Entdeckung in der Entstehung sein könnte, die das porphyrische Potenzial des Iskut-Projekts erschließen könnte.
- Broad widths of gold and copper mineralization discovered in multiple drill holes
- Large potassic alteration system identified, suggesting proximity to a porphyry intrusive source
- Mineralized package several hundred meters thick with known dimensions of about 1.5 km by 500 meters
- Potential for a significant Cu-Au porphyry deposit discovery
- True thickness of the mineralized intervals is not yet known
- Additional drilling required to better understand the deposit's dimensions and grade distribution
Insights
The drilling results from Seabridge Gold's Iskut project are highly encouraging. The intersections of 303m of 0.75 g/t Au and 0.10% Cu in Hole 17, 478m of 0.49 g/t Au and 0.13% Cu in Hole 18 and 532m of 0.48 g/t Au and 0.10% Cu in Hole 20 indicate significant mineralization over substantial widths. These grades, while not exceptionally high, are potentially economic for a large-scale operation.
The extensive potassic alteration and presence of Quartz-Biotite-Chalcopyrite veins strongly suggest proximity to a porphyry system. The 1.5 km by 500 meter dimensions of the mineralized package hint at a sizeable deposit. The interpretation of ash tuff eruptions as the host rock is intriguing, as these reactive rocks can be excellent traps for mineralization near the source intrusion.
Investors should note that while these results are promising, additional drilling is needed to determine the true widths and continuity of the mineralization. The potential for a large porphyry Cu-Au deposit is evident, but the "discovery" stage is still early. The project's location in BC's Golden Triangle, a prolific mining district, adds to its appeal.
Seabridge Gold's Iskut project results could significantly impact the company's valuation. With a current market cap of
Key financial considerations:
- Exploration success may attract strategic partners or potential acquirers, enhancing shareholder value.
- Future capital requirements for project development could be substantial, potentially leading to dilution or debt financing.
- The project's early stage means significant time and investment before potential production and cash flow.
Investors should weigh the upside potential against the risks and long timeline typical of mining exploration. Seabridge's portfolio approach, with multiple projects including the flagship KSM, provides some risk diversification. The company's ability to advance Iskut alongside its other assets will be important for maintaining investor interest and accessing capital markets.
Hole 17 intersects 303m of 0.75 gpt gold and
Hole 18 intersects 478m of 0.49 gpt gold and
Hole 20 intersects 532m of 0.48 gpt gold and
Toronto, Ontario--(Newsfile Corp. - October 9, 2024) - Seabridge Gold (TSX:SEA) (NYSE:SA) announced today results from the first phase of this year's exploration drilling on its
Seabridge Chairman and CEO Rudi Fronk commented: "Last year's new gold discoveries at Snip North gave us clear direction on where to focus our efforts this year. We're excited by the apparent size of the event we are exploring and the substantial metal content that we have found to date. Our team believes we are now in the process of unlocking the porphyry potential we had in mind when we acquired the Iskut project. We think this is a discovery in the making."
The remaining objective at Snip North is to encounter intrusive rock with the veining and alteration characteristic of a porphyry Cu-Au mineral deposit, containing copper and gold of potentially mineable grades. To date, we have intersected an intensive and extensive potassium alteration event hosted in a tuffaceous package of the Triassic Stuhini Formation containing important gold and copper concentrations. This mineralized package is several hundred meters thick with known dimensions of about 1.5 km by 500 meters. Potassic alteration consists of pervasive, and vein controlled, secondary biotite and orthoclase with associated magnetite. Frequent but not abundant Quartz-Biotite-Chalcopyrite veins (B-style veins) cut this unit with localized zones of abundant disseminated chalcopyrite.
Our original interpretation of the broadly potassium-altered rocks was that we had intersected a micro-crystalline porphyritic intrusion with localized foliation and discrete intervals of thermally metamorphosed siltstone and sandstone. Aided by initial thin section petrographic analysis, we now conclude that we have encountered a series of ash tuff eruptions with locally preserved flow-top or flow-bottom breccia intervals and occasionally preserved flow banding.
Key observations with favorable implications for a potentially robust Cu-Au porphyry source:
- Extensive potassic alteration would most likely have occurred proximal to a magmatic hydrothermal event generated by a porphyritic intrusion.
- Sizeable magmatic fluid volumes were needed to account for the scale of the potassic alteration, requiring substantial energy and suggesting a large and nearby intrusive source.
- The expected role of chemically reactive tuffaceous rocks supports the likelihood that metal concentrations would not have been displaced significantly from the source intrusion.
Initial Drill Hole Results 2024 Program at Snip North
| Drill Hole ID | Total Length (meters) | From (meters) | To (meters) | Interval (meters) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) |
| SN-24-17 | 1129.8 | 373.0 | 675.9 | 302.9 | 0.75 | 0.10 | 3.0 | 52 |
| Including | 595.0 | 650.0 | 55.0 | 1.14 | 0.07 | 1.0 | 14 | |
| SN-24-18 | 1228.0 | 86.5 | 564.5 | 478.0 | 0.49 | 0.13 | 1.5 | 84 |
| Including | 233.5 | 282.6 | 49.1 | 0.83 | 0.22 | 2.5 | 60 | |
| Including | 326.1 | 419.0 | 92.9 | 0.68 | 0.25 | 2.2 | 186 | |
| Including | 484.0 | 506.0 | 22.0 | 0.96 | 0.28 | 2.2 | 120 | |
| SN-24-20 | 1061.7 | 124.5 | 656.0 | 531.5 | 0.48 | 0.10 | 1.2 | 69 |
| Including | 363.0 | 612.0 | 249.0 | 0.54 | 0.17 | 1.6 | 120 | |
| Including | 410.0 | 546.0 | 136.0 | 0.69 | 0.20 | 1.7 | 163 |
True thickness of these intervals is not known, additional drilling results are required to attain an understanding of each interval's true width. Assay precision in all Seabridge exploration drilling is provide by the systematic insertion of certified geochemical standards, blanks and duplicate samples consistent with industry standards. Samples for assay are shipped from site by commercial carriers to ALS Laboratories and analysis at a facility in Langley, BC.
The contents of this release have been approved by William Threlkeld PGeo, Senior Vice President of the company and a qualified person under NI43-101. Seabridge holds a
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as "forward-looking statements" are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, interpretations, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the interpretation of the broadly potassium-altered rocks encountered in the drill program as a series of ash tuff eruptions with locally preserved flow-top or flow-bottom breccia intervals and occasionally preserved flow banding; (ii) the extensive potassic alteration most likely having occurred proximal to a magmatic hydrothermal event generated by a porphyritic intrusion; (iii) the drilling results reflecting a discovery in the making as well as progress toward unlocking the porphyry potential of the Iskut project ; and (iv) the objective at Snip North being to encounter intrusive rock with the veining and alteration characteristic of a porphyry Cu-Au mineral deposit, containing copper and gold of potentially mineable grades.
All forward-looking statements are based on Seabridge's or its consultants' current beliefs as well as various assumptions made by them and information currently available to them. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Seabridge's plans or expectations include the risk that: (i) the geologic formations at the Iskut Project do not conform to the interpretations of data and the geologic models that are the foundations for such forward-looking statements; (ii) the potassic alteration will not lead to a discovery or that it does not relate to other mineralized systems at the Iskut Project, and other risks outlined in statements made by Seabridge from time to time in the filings made by Seabridge with securities regulators. Seabridge disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and C.E.O.
For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226076
FAQ
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When did Seabridge Gold announce the drilling results from its Iskut project?
