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Tuesday, 25th March 2008 (2056 views)

Seabridge Gold is to undertake a C$7.6 million (£3.74 million), 15,000-metre core drilling programme to test new high-grade targets and expand gold mineralisation at the Kerr-Sulphurets-Mitchell (KSM) project in British Columbia, the company has announced.

The company hopes that the campaign, which is scheduled to start in June, will increase the value of KSM as an asset by exploring potential high-grade zones, converting more inferred mineral resources into indicate resources and further expanding mineralisation in the property's Mitchell zone.

Seabridge will attempt to convert a total of 5.2 million ounces of gold from inferred to indicated resources, it said, using 12 infill drill holes over a total depth of 5,200 metres.

It will also look to expand the Mitchell zone down-dip and to the north to open up resources with gold grades higher the current zone's average. A total of eight new drill holes will be completed to achieve this and two-thirds of the new resources are expected to be in the inferred category.

Further drilling will investigate the potential of extending the down-dip of the Sulphurets gold zone.

The KSM property is located in the Iskut-Stikine River region, approximately 65 kilometres north-west of Stewart, British Columbia. Mineral exploration at the site dates back to the 1880s.

 

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