Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) has commenced drilling the Quartz Rise high-grade gold target on its 100%-owned Iskut project in northwestern British Columbia, the company stated in a news release.
"Last year's drill program, the first ever at Quartz Rise, confirmed the presence of a gold-bearing intermediate sulphidation epithermal system beneath the Quartz Rise lithocap," the company noted. "This was the company's target concept. The drilling intercepted several narrow, discontinuous intervals of high-grade gold."
A subsequent 3-dimensional induced polarization (IP) geophysical survey together with detailed geological mapping and sampling of available rock faces indicate that the 2017 drilling may not have been in the correct orientation, stated the company.
"New results from cliff face sampling show exceptional gold results that appear to correspond with a favorable IP chargeability anomaly under Quartz Rise," it said.
"The Quartz Rise target began as a theoretical concept based on our understanding of porphyry gold-copper systems at our KSM project," said Rudi Fronk, Seabridge chairman and chief executive officer. "In 15 months of work, we have learned a great deal and the concept has become a real, data-driven target. We believe we can now find the source of the high-grade gold associated with sulphide-bearing quartz veins at Quartz Rise. Our research continues to uncover compelling reasons why the lithocap may be hiding a significant, near-surface epithermal precious metals system."
The news release says that Quartz Rise is underlain by Jurassic felsic volcanic stratigraphy consisting of coarse lithic tuff intercalated with densely welded tuffaceous flows, incestuous porphyritic sills and tuffaceous sedimentary rocks, deposited unconformably on Triassic marine sedimentary rocks.
"This is the geological time break that has proved to be productive elsewhere in the region," stated the company. "At Quartz Rise, the coarse lithic tuff tends to show much more intense leaching and acid alteration than do the overlaying densely welded tuff units which appear to have capped the fluid flows. Exposures of the coarse lithic tuff host in the cliff face have yielded exceptional gold values in more intensely altered intervals found in proximity to IP chargeability anomalies."
Drilling is designed initially to follow gold-bearing veins in the coarse lithic tuff away from the cliff face into the chargeability anomaly.
"Additional holes will test other chargeability targets. The 3,000-metre core program can be expanded contingent on success," Seabridge stated.
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