Winter drilling at Courageous Lake in the Northwest Territories. (Image: Seabridge Gold)
NORTHWEST TERRITORIES – Toronto-based Seabridge Gold has discovered four new gold zones at its Courageous Lake project 240 km northeast of Yellowknife during this winter’s drilling. Two of them – Olsen and Marsh Pond – have widths and grades that could potentially add to the resources of the Walsh Lake deposit.
Walsh Lake is a near surface deposit estimated to contain an inferred resource of 4.6 million tonnes grading 3.24 g/t gold for 482,000 oz.
The newly discovered zones are associated with deformation zones within a well-defined stratigraphic package near the contact between metamorphosed volcanic rocks and clastic metasedimentary rocks, said Seabridge. The Olsen zone returned the best assay – 3.04 g/t gold over 40.4 metres. The best assay from Marsh Pond was 3.08 g/t gold over 14.0 metres. Both zones have a strike of 400 metres.
Total proven and probable reserves at Courageous Lake are 91.1 million tonnes with a diluted grade of 2.20 g/t gold for 6.5 million contained oz., as per the preliminary economic study completed in 2012.
Read more at www.SeabridgeGold.net.