NORTHWEST TERRITORIES - SEABRIDGE GOLD of Toronto has boosted the resource figure at its Courageous Lake gold deposit 240 km northeast of Yellowknife. By reducing the estimated cutoff grade to 0.83 g/t Au from 1.0 g/t Au, the company has added 185,000 oz of gold to the measured and indicated categories plus 343,000 oz of gold to the inferred category.
Resources now stand at 3.38 million tonnes measured grading 2.55 g/t Au, 47.00 million tonnes indicated grading 2.28 g/t Au, and 77.44 million tonnes inferred grading 2.10 g/t Au. The deposit may contain upward of 9 million oz of gold, making it one of the world's largest undeveloped resources. According to a preliminary assessment, gold could be produced for an average cash operating cost of US$279/oz.
The geology of the Courageous Lake deposit is examined at www.SeabridgeGold.net.