Mining News: Long runs of high-grade copper, gold at Iron Cap

Seabridge Gold Inc. Nov. 8 reported that the final three holes of its 2017 program targeting the plunge projection of the Iron Cap Deposit cut very long runs of some of the highest metal values found to date at KSM. These intercepts include 699.8 meters of 0.87 grams per metric ton gold, 0.51 percent copper and 2.4 g/t silver in hole IC-17-71; 858.1 meters of 0.86 g/t gold, 0.51 percent copper and 2.4 g/t silver IC-17-72; and 379.4 meters of 0.33 g/t gold 0.35 percent copper and 4.8 g/t silver in IC-17-73. These long runs of gold and copper include higher grade subsections such as 113.3 meters of 2.98 g/t gold, 1.56 percent copper and 4.4 g/t silver. The success of the 2017 drilling at Iron Cap, coupled with the deposits proximity to project infrastructure, has Seabridge considering the potential of mining Iron Cap ahead of the massive Mitchell and Kerr deposits. “The success of this year’s drilling indicates that Iron Cap is approaching parity in size with these other deposits but with zones of considerably higher metal values,” said Seabridge Chairman and CEO Rudi Fronk. “We now see the early development of Iron Cap as a high priority for further study due to its grade, location and size. Revising the project’s mine plan to reflect this thinking would likely have a positive impact on KSM’s projected economics.” The 2017 program at KSM included 10,383 meters of drilling in 11 holes testing Iron Cap. All 11 holes returned wide zones of significant grade. Early drilling suggested improving gold and copper grades trending to the west and the program was accordingly reoriented in that direction in mid-stride, resulting in the higher grades in the latter holes.

–SHANE LASLEY