Seabridge (SA) Reports Strong Data from Sulphurets Deposit Efforts
Tweet
Share
E-mailGet Alerts SA Hot Sheet
Join SI Premium – FREE
Seabridge Gold Inc. (AMEX: SA) reports results from the final 14 exploration holes drilled this year at the Sulphurets deposit, part of Seabridge Gold's 100% owned KSM Project, support an expansion of reserves and improved overall project economics. Every one of the 34 core holes completed at Sulphurets this year (totaling 11,480 meters) intersected mineralization above the existing reserve's cut-off grade.
Seabridge President and CEO Rudi Fronk commented that "we are confident that this year's program has successfully achieved all of our objectives. First, we believe we have converted significant amounts of in-pit waste to measured and indicated resources. Second, we have discovered new mineralization beneath the previous pit limit which will allow us to deepen the proposed pit and define new resources and reserves. Third, we expect that the overall strip ratio at Sulphurets will decline and economics will improve."
An updated NI-43-101Mineral Resource Estimate incorporating these drill results is scheduled for completion in January 2012. This estimate will be included in a new Preliminary Feasibility Study ("PFS") planned for April 2012 which will include a restatement of reserves at Sulpurets and the rest of the KSM project.
Seabridge President and CEO Rudi Fronk commented that "we are confident that this year's program has successfully achieved all of our objectives. First, we believe we have converted significant amounts of in-pit waste to measured and indicated resources. Second, we have discovered new mineralization beneath the previous pit limit which will allow us to deepen the proposed pit and define new resources and reserves. Third, we expect that the overall strip ratio at Sulphurets will decline and economics will improve."
An updated NI-43-101Mineral Resource Estimate incorporating these drill results is scheduled for completion in January 2012. This estimate will be included in a new Preliminary Feasibility Study ("PFS") planned for April 2012 which will include a restatement of reserves at Sulpurets and the rest of the KSM project.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pizza Hut CEO Aaron Powell resigns
- American Healthcare REIT acquires six Kensington senior living communities
- aTyr Pharma expects FDA response on Phase 3 sarcoidosis trial by mid-Sept
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
