Seabridge Mining - Chairman and CEO, Rudi Fronk
Chairman and CEO, Rudi Fronk
Source: PWC
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Seabridge Gold (SEA) is finalising its plans for a follow-up drill program at its wholly owned Snowstorm Project in Nevada
  • The company intends to drill an initial four holes over a total of 5,700 metres, testing a number of newly identified structural features
  • The Ordovician carbonate stratigraphy, which hosts these structures, was identified in a 2019 drill program
  • These carbonate rocks are intercalated with basaltic tuff and sills characteristic of Getchell-style deposits
  • Seabridge Gold (SEA) is currently steady and is trading at C$26.81 per share

Seabridge Gold (SEA) is finalising its plans for a follow-up drill program at its wholly owned Snowstorm Project in Nevada.

Located at the projected intersection of three significant gold trends: the Carlin Trend, the Getchell Trend and the Northern Nevada Rift Zone, the project was acquired by Seabridge in 2017 includes 700 mining claims over 5,800 acres.

The upcoming program, which is expected to begin later this month, will include an initial four holes totalling 5,700 metres, focused on testing a number of recently identified structural features within the Ordovician carbonate stratigraphy.

This region was discovered during a 2019 drill program, the carbonate rocks of which are intercalated with basaltic tuff and sills characteristic of Getchell-style deposits. Further magnetotelluric surveys carried out by Seabridge since then resulted in the extension of the most promising zone eastward into a previously unexplored area.

Over the course of the program, two holes will test the intersection of a shallow dipping fault and several northeast-trending fault zones. A third hole will assess this structural intersection within thermally metamorphosed rocks.

Finally, a fourth hole will evaluate low resistivity anomalies on the hanging wall of the shallow dipping fault plane close to the northeast and northwest-trending faults.

All of these holes have been designed to generate concrete data regarding whether or not these structures provide pathways for gold-bearing fluids.

Rudi Fronk, Chairman and CEO of Seabridge Gold, noted that the occurrences are challenging to find because the targets are hidden under younger volcanic cover.

“In 2017, we acquired Snowstorm because we thought it was an excellent opportunity for the discovery of a Getchell-style high grade gold deposit.

“Last year we confirmed that Snowstorm has the right stratigraphy and a continuation of the Getchell structural setting. This year we will follow the permissive stratigraphy into areas where it is intersected by structures which we think may have transported gold-bearing solutions,” he said.

Seabridge Gold (SEA) is currently steady and is trading at C$26.81 per share at 9:41am EDT.

More From The Market Herald
Goldshore Resources

" Goldshore Resources (TSXV:GSHR) announces $5M brokered private placement

Goldshore Resources (GSHR) has announced a brokered private placement for gross proceeds of up to $5,000,000.

" A.I.S. Resources (TSXV:AIS) updates on its Argentina properties

A.I.S. Resources has provided an update to its Pocitos properties in the Salta, Argentina region.

" Pan American Silver (TSX:PAAS) approved to acquire Yamana Gold (TSX:YRI)

Pan American Silver (PAAS) has been cleared to acquire Yamana Gold.