Drilling to Focus on Expanding Deep Kerr and Discovering Additional Higher Grade Core Zones
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TORONTO, June 10, 2014 /PRNewswire/ - Seabridge Gold reported today that exploration drilling has begun at its wholly-owned KSM project in Northwestern British Columbia, Canada. The primary focus of the program is to expand the 515 million tonne inferred resource averaging 0.53% copper and 0.36 g/T gold found last year at Deep Kerr and also increase its average grade. The second objective is to test several more identified and highly prospective core zone targets which have the potential for large, high grade deposits similar to Deep Kerr, including the Iron Cap deposit at depth.
Seabridge Chairman and CEO Rudi Fronk noted that "our understanding of the KSM system has increased immensely since the discovery of Deep Kerr, and the more we learn, the more upside we see. We now know a great deal more about the geophysical and geochemical signatures of the higher grade core zones we are looking for and we have also unraveled the major displacements that have occurred along the district's faults. With these powerful tools at our disposal, we are confident that we will find more core zones this summer. Both copper-rich and gold-rich targets are included in the program. We also expect to make substantial additions to the Deep Kerr resource."Additional MT geophysical surveys have recently been completed by Quantec Geoscience Ltd of Toronto and are now being interpreted. MT (magnetotelluric), which measures fluctuations in naturally-occurring electrical and magnetic fields over a broad range of frequencies, has proven to be an effective tool for conceptual modelling of deep targets at KSM. MT resistivity profiles along the plunge projection of the original Kerr deposit helped to guide the discovery of Deep Kerr. The same method is being used to identify other potential core zones. The initial targets in the 2014 program are: