NORTHWEST TERRITORIES - Seabridge Gold of Toronto has drilled a significant expansion of Zone 8 at its Courageous Lake gold project 240 km northeast of Yellowknife. The best assay of the last holes drilled was 8.44 g/t over 4.5 metres in Hole 174.
The zone lies within the multi-million-ounce FAT deposit, only a small portion of which has before now been included in resource estimates.
"We are excited by the new data from Zone 8 which has proved to be much more continuous than previously thought. These results could more than quadruple Zone 8's contribution to measured and indicated resources and help to increase the deposit's average grade," said Seabridge president and CEO Rudi Fronk. "It's also important to note that most of this expansion is within the existing pit design and will therefore convert waste to resources which may qualify for reserves in the preliminary feasibility study now in progress. We are also intrigued that this zone extends beyond the designed pit and therefore represents a priority exploration target for next year."
Using a cut-off of 0.83 g/t, measured and indicated resources at Courageous Lake are now estimated at 90.2 million tonnes averaging 2.34 g/t Au. The inferred resource is 63.1 million tonnes at 2.24 g/t Au.
The most recent corporate presentation (November 2011) is available at www.SeabridgeGold.net.
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