After delays caused by adverse weather and fires,
the company announced that its summer program is meeting its objectives.
Seabridge
Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced that this summer's program at its 100%-owned KSM Project in northwestern
British Columbia, Canada, is meeting its objectives. The program faced early
delays because of adverse weather and "the impact of BC fire season on
equipment and labor availability."
"The 2018 program includes confirmation work to ensure that the
project is ready for final feasibility when a partner is secured and
exploration drilling to further define the higher grade core of the Iron Cap
deposit down-plunge from the existing inferred resource," stated the
company. "The confirmation work has consisted of drilling to
substantiate our reserve model (completed), waste characterization drilling
and geotechnical drilling (nearly completed)."
The company is using six diamond drill rigs "to ensure that
objectives are met."
Seabridge Chairman and CEO Rudi Fronk stated,"Weather conditions were
far different this year than what we have experienced at KSM over the past
decade, forcing us to make program adjustments on the fly. Also, the
unprecedented fire activity throughout the province and in our area limited
our access to some services." He also noted that Seabridge is "now
on top of these issues and we expect to complete our planned program by extending
our field season by several weeks. Results thus far indicate that all of our
confirmation work is consistent with our development model and the inferred
resource at Iron Cap will grow substantially."
Seabridge provided an update on its summer drill program:
- It has drilled five holes totaling 1,746 meters to
confirm the mineral reserves in the areas where production is likely to
begin and found "block grades comparable to model
predictions."
- It has drilled eight holes and expects to drill another
four, totaling 4,919 meters, to "test an updated block model of
waste types on the margins of the deposits."
- It has drilled nine geotechnical holes, 3,609 meters, to
evaluate "material properties of fractures and faults on the
planned pit high-walls."
- It has drilled eight exploration holes at Iron Cap and
is drilling five more for a total of 16,700 meters, "to continue
testing the core zone of the Iron Cap deposit down plunge to the west.
Initial indications are that the deposit approaches near vertical continuity
to depth of at least 1,800 meters. Assay results are expected
shortly."
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