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Seabridge Gold Inc.
Summary
| Project: | Iskut | |
|---|---|---|
| Deposit: | Iskut | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 12/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2018: Seabridge Gold Inc. announces an Exploration/Drilling Update report for its Iskut deposit at the Iskut project. Drilling results incl. 4.0m @ 5.89g/t Au, 23.0g/t Ag, 0.13% Cu from 71.5m. Toronto, Ontario--(Newsfile Corp. - December 18, 2018) - | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: William E. Threlkeld (Internal) | |
| ABSTRACT: | Toronto, Ontario--(Newsfile Corp. - December 18, 2018) - Seabridge Gold (TSX: SEA) (NYSE: SA). This summer's drilling on Seabridge's 100%-owned Iskut Project in northwestern British Columbia encountered the hallmarks of a large copper-gold porphyry system: a robust hydrothermal breccia containing abundant clasts of chalcopyrite-pyrite-magnetite in veined intrusive rocks and stock works positioned over a large IP chargeability anomaly interpreted as a sulfide-rich porphyry intrusion. A total of 2,700 meters of core were drilled in the program. This year's exploration at the Quartz Rise Lithocap was focused on testing for high-grade epithermal precious metal occurrences associated with the uppermost portion of a porphyry mineral system. Drilling tested the dip projection of high-grade surface samples in an area hosting coincident IP chargeability and resistivity anomalies. Results confirmed that much of the Quartz Rise lithocap had been eroded, leaving little opportunity for a sizeable high-grade epithermal occurrence in this area. The discovery of a hydrothermal breccia (diatreme) in holes QR-18-14 and 17 confirmed that a porphyry source for the lithocap is nearby. Diatremes are explosive volcanic vents produced in a solid rock structure by the energy from expanding fluids and gases evolving off magmas. Diatremes are commonly found above and adjacent to porphyry mineral systems which are their source of heat and fluids. Extensive review of the available data indicates the source for the diatreme is south and southwest of Quartz Rise, where glacial erosion has exposed rocks deeper in the mineralizing system. This erosional window provides the opportunity to explore into the heart of the porphyry system with much shorter drill holes from a lower elevation (see attached diagram). Seabridge Chairman and CEO Rudi Fronk commented: "We acquired Iskut in 2016 because it showed clear evidence of a large porphyry system similar in age and geology to our KSM project 30 kilometers to the east. Our view was that the Iskut porphyry was likely too deep to be our primary target and we therefore focused initially on finding a lithocap-hosted epithermal top of the porphyry system. We have since learned that this target is probably not viable in the Quartz Rise area due to erosion. However, we are very excited to find that this same erosion has given us the opportunity to explore for another KSM-style porphyry system located mu | |
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