Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) began its $2.5 million, follow-up drill campaign at the KSM project in British Columbia, it announced in a news release.
The company noted that the drilling is designed to "off-set and extend high-grade gold intersections discovered in previous drilling."
With two rigs, the company will drill 4,000 meters (4,000m) in 16 shallow holes in the proposed pit of the Sulphurets deposit to develop a high-grade resource in a newly identified structure there.
"Our original plans for this year at KSM were focused on completing geophysical surveys to help refine the limits of the existing four porphyry deposits and look for a fifth. A concept to expand the 1500 g/t intersection drilled last year grew out of these surveys and the target was too compelling to ignore. This new target is within the proposed Sulphurets pit plan, so if the program is successful, we will immediately capture new resources," Chairman and CEO Rudi Fronk said in the release.
Last year, drilling in the proposed Sulphurets pit encountered high-grade gold intersections that are "clustered within a newly identified northeast to southwest trending structure having at least 800m of strike length," the release explained. The mineralized widths of those still need to be confirmed. "Successful delineation of this target would have a positive impact on the Sulphurets resource since the pit block model currently classifies this area as waste."
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