Seabridge Gold (SEA) has achieved the key objective from its 2020 drill program: to find a gold-bearing system at the Snowstorm Project.
The gold grades discovered thus far had been low, but the exploration team at the Snowstorm Project is confident that the new drilling results will yield promising higher grades.
Rudi Fronk, Seabridge Chairman and CEO, noted,
"When we acquired Snowstorm, we knew it would require a multi-year exploration program. The first drill program in 2019 met its objective as we were able to confirm the structural setting and rocks similar to those that host the Turquoise Ridge deposit."
"The aim of the second recently completed program was to find gold and pathfinder elements such as arsenic within the type of structures identified as gold-bearing at Turquoise Ridge. This objective was also accomplished," said Fronk.
Four drill holes were completed as part of the program. Results from the completed drill holes provided positive outcomes in the company's search for gold-bearing fluid pathways.
"We are now evaluating how to use these promising results to find possible concentrations of gold similar to other Getchell occurrences," commented Fronk.
Since the most recent program began in mid-September 2020, a total of 4,495 meters of exploration drilling have been completed at Snowstorm.
A new drill program is scheduled to begin in July 2021.
Seabridge Gold is a development stage company involved in the evaluation, acquisition, exploration, and development of gold properties sited in North America.
Seabridge Gold (SEA) is up 4.14 per cent and trading at C$21.61 per share as of 1:08 pm ET.