Seabridge Gold Identifies Four New Porphyry Targets At KSM

TORONTO - Seabridge Gold reported that its search for large new porphyry targets within the KSM Mining District has identified four prospects with signatures matching the established deposits where reserves and resources have been delineated.  These new targets are under the Sulphurets Thrust Fault (STF) and are therefore ‘blind’, unlike the known deposits which were exposed at surface by erosion.

Ongoing exploration at KSM since 2005 has recognized the potential for undiscovered porphyry deposits west of the exposed deposits and below the STF system. Criteria were selected to limit the search to the most prospective and realistic targets based on our extensive knowledge of the known deposits: (1) Strong magnetic susceptibilities associated with potassic alteration at depth and low susceptibilities for shallow phyllic altered shells: (2) Proximity to deep east-west trending, steeply-dipping structures reflected in magnetics: (3) Distinct high resistivity features coincident with deep, sodic-calcic altered, sulfide depleted sub-porphyry cores contrasting with low resistivity in adjacent and capping sulfide-rich shells; (4) Proximity to the Sulphurets Thrust Fault which tracks the Triassic-Jurassic regional unconformity in the KSM district; and (5) High induced chargeability effects in variable geometries related to high pyrite content in surrounding hornfels and skarns with overprinted phyllic shells. 

Deep penetrating geophysical techniques were employed in 2019 to improve resolution on targets and generate discrete zones for testing in the future.  New Z-Tipper Axis Electromagnetic (ZTEM) surveys and 3D IP surveys were completed. Data was integrated into a digital 3D earth model by Mira Geoscience. These results are now being integrated with historical MT surveys, airborne high-resolution magnetic survey, bore hole geophysical surveys and geological mapping.  Geophysical profiles indicate that these targets can be tested from surface but would likely be evaluated as bulk underground opportunities.

Chairman and CEO Rudi Fronk said, “These are not targets we intend to drill any time soon. We had three objectives: first, use our extensive array of knowledge accumulated over the past decade to demonstrate that we have not exhausted the exploration potential for KSM; second, assess the exploration potential of areas currently proposed Project infrastructure; and third, better define the characterization of waste materials. We believe these new targets could contribute to the multi-generational life of the KSM Mining District while the data we generated also provides insights to help optimize site development.  We think this data will be valuable to a joint venture partner.”

Also, in the 2019 program, we completed exploration drilling totaling 6,121 meters in 26 drill holes. Drilling was within the 2016 proposed Sulphurets Pit limits, at the margins of the Sulphurets deposit with 24 of the 26 holes intersecting plus 1.0 g/t gold material (see drill map). These holes evaluated several intermediate sulfidation epithermal occurrences that are not captured in the existing deposit resource model.  Focusing on the 500 meters of strike between holes S-18-81 (2 meters grading 1,580g/t gold and 209g/t silver from 69.0m to 71.0m) and S-18-82 (12.2 meters of 5.83g/t gold and 7.2g/t silver from 21.0m to 33.2m) holes were off-set at about 50 meter intervals. Intersections are being evaluated for inclusion in the resource model.