In a news release, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced that "this year's core drilling at its 100% owned Iskut project in Northwestern British Columbia found indications of higher grade copper mineralization (0.62% copper over 31.8 meters) and many of the earmarks of a large porphyry system which may lie below the drilling completed to date."
The company advised that the objective of its 2020 drill program was "to test geophysical anomalies below the Quartz Rise Lithocap that is host to a diatreme pipe containing gold-copper mineralized vein fragments." The firm stated that it completed a total of 8,961 meters of drilling in 11 holes and noted that the core samples returned results that are consistent with an alteration halo from a large porphyry system.
The data from the samples intersected intervals of up to 158 meters grading 0.16 g/t Au and 0.16% copper. The firm stated that these results indicate that the drilling completed so far is in the outer portions of a gold-copper porphyry. The company is now planning the next steps to refine targets with the goal to "vector to the heart of that system which may still exist at some depth below that reached so far."
The company's Chairman and CEO Rudi Fronk remarked, "Our team is confident that a potentially productive mineral system has been identified at Iskut. We think we are into the periphery of a large system which accounts for the size and intensity of the geophysical and chemical anomalies we have identified. Results from this year's work will help to refine targets for next year."
Seabridge explained that it has developed the Iskut gold-copper target over the past three years employing geophysical tools, conducting surface mapping and sampling and carrying out preliminary drilling. The firm stated that it has located elevated surface gold and copper concentrations that have been useful in defining this target area situated below and west of the well-developed Quartz Rise Lithocap. The company noted that a key takeaway from the 2020 program suggests that drilling work completed to date is primarily within the upper part of the system.
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