BRITISH COLUMBIA - Results from drilling the Iron Cap at the KSM project near Stewart have confirmed a new, potentially bulk minable deposit that could significantly improve project economics, says owner Seabridge Gold of Toronto. The new deposit is at least 900 metres along strike, 400 metres wide and up to 350 metres thick. It is located adjacent to the Mitchell zone. The Iron Cap also appears to have zones of higher grade copper that could be blended with Mitchell ore to maintain the head grade at 0.20% Cu.
Recent drill hole results from Iron Cap were long and strong. The longest was 512.0 metres grading 0.55 g/t Au, 0.18% Cu and 5.9 g/t Ag. The same hole cut the copper zone for 33.0 metres and assayed 0.30 g/t Au, 0.52% Cu and 7.1 g/t Ag.
In a news release Seabridge president Rudi Fronk said, "The current mine plan calls for the early development of the more distant Kerr and Sulphurets zones to maintain copper head grades to the mill. Sequencing Iron Cap before Kerr and Sulphurets could have multiple potential benefits including lower operating and capital costs, deferring significant expenditures and extending mine life."
The next step will be to conduct an infill drill program with the aim to establishing new proven and probable reserves.
Further information will be available at www.SeabridgeGold.net.
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