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Seabridge to Drill New Gold-Copper Porphyry Target at Iskut
Toronto, Ontario--(Newsfile Corp. - May 19, 2020) - Seabridge Gold (TSX: SEA) (NYSE: SA) repor...
About this update from Seabridge Gold Inc
[{"type":"text","content":"Seabridge to Drill New Gold-Copper Porphyry Target at IskutThree Years of Preliminary Work Point to Likely Source of Quartz Rise LithocapToronto, Ontario--(Newsfile Corp. - May 19, 2020) - Seabridge Gold (TSX: SEA) (NYSE: SA) reports that it has decided to proceed with drilling this summer at its Iskut project in British Columbia's Golden Triangle to test for a gold-copper porphyry similar to those Seabridge discovered at its nearby KSM project. Rigorous procedures for the program have been established to minimize the risks associated with COVID-19. Drilling is expected to begin in June.Three years of work at Quartz Rise including two small drill campaigns have isolated a promising source of the lithocap above the old, high-grade Johnny Mountain Mine. Further geophysical and geochemical surveys and detailed mapping have been completed and an initial drill program totaling up to 8,000 meters has been designed to test a large intrusive system that is likely responsible for the Quartz Rise Lithocap and elevated gold and copper concentrations within a geological environment astonishingly similar to KSM. This year's drilling will evaluate about 750 meters of strike and 800 meters of vertical projection on coincident magnetic and IP anomalies that are positioned below and west of the well-developed lithocap. The plan is to drill across the IP anomaly and a distinct magnetic feature which encloses a diatreme encountered in previous drilling. The diatreme contained abundant fragments of vein material indicative of the potassic core to a gold-copper porphyry system. At KSM, testing this pattern of magnetic and resistivity anomalies led directly to the discovery of the Deep Kerr zone (cave-constrained Inferred Resource of 1.9 billion tonnes at 0.31g/T Au and 0.41% Cu).In 2019, the geophysical footprint of this target was expanded to the south and southwest into an area where glacial erosion exposed the system vertically over at least 800 meters (see illustrative diagram), making the target amenable to drilling from surface. Mapping and sampling of this vertical exposure found extensive gold and copper anomalies within favorable thermally-altered wall rock. Several intrusions were identified which have been dated to about 187 million years, the same age as the KSM deposits.Seabridge Chairman and CEO Rudi Fronk commented: \"We acquired Isku...