Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) is preparing to commence a follow-up drill program at its Snowstorm gold project in northern Nevada later in August 2020, it announced in a news release.
The Toronto-based explorer plans to begin with a four-hole program over about 5,700 meters, which will drill test several "newly defined structural features in the favorable Ordovician carbonate stratigraphy," the release noted.
"In 2017, we acquired Snowstorm because we thought it was an excellent opportunity for the discovery of a Getchell-style high grade gold deposit. These occurrences are challenging to find because the targets are hidden under younger volcanic cover. Last year we confirmed that Snowstorm has the right stratigraphy and a continuation of the Getchell structural setting," Chairman and CEO Rudi Fronk said in the release. "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."
Specifically, the company will drill two of the four holes into the intersection of the shallow dipping fault and multiple northeast-trending fault zones. With a third hole, it will evaluate the structural intersection that is next to a Cretaceous intrusion. With the fourth hole, Seabridge will test low resistivity anomalies on the hanging wall of the shallow dipping fault plane in the areas of the northeast- and northwest-trending faults.
"These holes are designed to deliver definitive data on whether these structures provided pathways for gold-bearing fluids," the company stated.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Seabridge Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
