Seabridge Gold (NYSE:SA) Identifies Another Large Target in the Region

Seabridge Gold (NYSE:SA) Identifies Another Large Target in the Region

Seabridge Gold (NYSE:SA) Identifies Another Large Target in the Region

$SA, $ABX

Canada’s Seabridge Gold (TSX:SEA) (NYSE:SA), the company behind the huge KSM project in northern British Columbia, considered the world’s largest undeveloped Gold-Copper project by reserves, has just identified a large, untested target at another of its ventures in the region.

Exploration at Seabridge Gold’s 100%-owned Iskut project, which shares geological similarities with KSM, has revealed a large, untested area.

The company said Wednesday that exploration at its 100%-owned Iskut project, which shares geological similarities with KSM, has achieved its primary objective, that being identifying a prospective new porphyry Copper-Gold system.

The untested target, known as Quartz Rise, has all the hallmarks of a porphyry lithocap, a geological feature found at the top of major porphyry systems throughout the world, the company said.

The Toronto-based miner noted it expected to begin drill testing next year, adding that the samples it has already taken in the area contain visible Gold.

Seabridge completed a limited amount of drilling this summer at the old high grade Johnny Mountain Gold mine to test detailed ore control concepts on a known deposit while proceeding with the comprehensive program.

The company began drilling it Iskut in August said that one of the most attractive opportunities at the project is the so-called “Snip-Bronson” trend, which lies within 75 to 100 metres of underground development at the past-producing Snip Gold mine, now owned by fellow Canadian Barrick Gold (TSX, NYSE: ABX), the world’s largest producer of the precious Yellow metal.

Seabridge is worth just shy of $600-M on the New York Stock Exchange, up 35% in value YTD.

Symbol Last Trade Date Change Open High Low Volume
NYSE:SA 10.9 26 October 2016 -0.30 11.15 11.35 10.75 345,300
HeffX-LTN Analysis for SA: Overall Short Intermediate Long
Neutral (-0.23) Neutral (-0.01) Very Bearish (-0.59) Neutral (-0.08)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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