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Seabridge Gold Increases Gold and Copper Resources at Iron Cap
Toronto, Canada--(Newsfile Corp. - March 12, 2019) - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA)...
About this update from Seabridge Gold Inc
[{"type":"text","content":"Seabridge Gold Increases Gold and Copper Resources at Iron CapIndicated resources increase by 0.46 million ounces of gold and 177 million pounds of copper; inferred resources increase by 7.45 million ounces of gold and 4.0 billion pounds of copperToronto, Canada--(Newsfile Corp. - March 12, 2019) - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) announced today that an updated independent mineral resource estimate for the Iron Cap deposit has substantially increased its size while also confirming higher grade zones within the overall resource. Iron Cap is one of four large gold/copper porphyry deposits within Seabridge's 100%-owned KSM Project located in northwestern British Columbia. The updated resource estimate, dated as of March 7, 2019, incorporates all previous drilling plus 20,341 meters of diamond core drilling completed in 18 holes during the 2018 program. A comparison of the previous Iron Cap resource estimate and the updated one is as follows: Iron Cap Undiluted Block-Cave Constrained Mineral Resources at C$16 NSR CutoffDate of EstimateResource CategoryTonnes (millions)Average GradesContained MetalGold (gpt)Copper(%)Silver(gpt)Moly(ppm)Gold(000 ounces)Copper(million pounds)Silver(000 ounces)Moly(million pounds)February 2018Indicated3700.430.234.2485,1121,87449,93139Inferred1,2970.480.302.93420,0238,579120,97034March 2019Indicated4230.410.224.6415,5762,05162,55938Inferred1,8990.450.302.63027,47412,556158,741126 Note: Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. Drill hole spacing in the 2018 program was designed to meet two objectives: expand the known size of the Iron Cap deposit while also meeting the requirements of an inferred resource estimate. Based on the relatively consistent nature of the deposit along with geologic evidence amassed over the last 14 years of exploration work at the Project and the current drill hole spacing at Iron Cap, the Company believes it is reasonable to expect that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with further drilling.Seabridge Chairman and CEO Rudi Fronk noted that the new resource estimate has achieved the targeted size and grade which are likely to warrant moving the Iron Cap deposit ahead of the Kerr and Sulphurets deposits in the project's mine plan. \"Our exploration success...