Drilling expands Deep Kerr deposit at KSM
Last updated 9/4/2016 at Noon
Seabridge Gold Inc. Aug. 30 said results from the first two core holes drilled this year into the Deep Kerr deposit indicate an increase in the potential mining rate from the proposed underground block cave shapes for the copper-gold deposit at the KSM project in northwestern British Columbia.
In March, Seabridge published an updated resource estimate for Deep Kerr of 1.01 billion metric tons of inferred resource grading 0.53 percent (11.8 billion pounds) copper and 0.35 g/t (11.3 million ounces) gold.
The first two holes drilled this year have confirmed continuity of mineralization in Deep Kerr over considerable distances south of the deposit.
K-16-51, located about 125 meters south of the current resource limits, cut multiple zones including 119 meters averaging 0.44 g/t gold and 0.45 percent copper and 187 meters averaging 0.33 g/t gold and 0.46 percent copper.
K-16-52 cut 231 meters grading 0.31 g/t gold and 0.47 percent copper about 500 meters to the south of K-16-51.
With grades consistent with the inferred resource, these holes are expected to expand the known resource in the shape and orientation required to optimize the proposed Deep Kerr mine plan at a higher throughput.
"This year's drill program has been carefully designed to expand and optimize the prospective mine plan at Deep Kerr and thereby improve the KSM project's potential economics," said Seabridge Chairman and CEO Rudi Fronk.
"Overall, Deep Kerr is once again demonstrating that it has very few equals for size and grade." K-16-51 and K-16-52 have been re-entered for so-called daughter holes which use the upper part of the original hole before being wedged into new intercepts of the target zone.
The daughter holes are targeted to fill in the gaps along strike from the original drill holes.