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10th September 2013
Toronto (Canada) – Seabridge Gold announced today that new drilling has found an exceptional bornite-rich zone within the higher-grade Deep Kerr core zone on its 100% owned KSM project in north western British Columbia, Canada. Bornite is a copper mineral generally formed at higher temperatures within a core zone and is typically found in larger, higher-grade copper deposits.
As announced on August 12, 2013, Seabridge has discovered a higher-grade copper-gold core zone named Deep Kerr which lies beneath the Kerr porphyry deposit. Wide-spaced drilling has established that Deep Kerr is at least 1600 meters long and remains open to the north and at depth. The mineralized envelope thus far is up to 300 meters in width consisting primarily of chalcopyrite (a copper mineral) and gold. Within this envelope, wide bornite-rich intervals have now been intersected in stockwork veins with abundant chalcopyrite and other minor copper minerals as well as high gold values. The first of these bornite intercepts to be assayed contains the highest grade copper mineralization ever drilled at KSM. Wall rock in these intervals is intensely altered; the style of alteration and mineralization are characteristic of a deep, high temperature core zone targeted by Seabridge in this year’s program.
Seabridge Chairman and CEO Rudi Fronk noted that “the discovery of abundant bornite was near the top of this year’s exploration wish list because it typically brings higher grades of both copper and gold. We are now focused on expanding the bornite zone and finding where its expression is strongest. We are gratified to see that the bornite zone appears at moderate depths within Deep Kerr, indicating that this material could be accessed from the valley floor,” Fronk said.
“Drilling at Deep Kerr is continuing on schedule with five core rigs. This is a very large target. Drill hole locations are therefore being confined to a thousand meters of strike length to facilitate an initial resource estimate later this year. An assessment of the overall size of Deep Kerr will need to wait for next year. A sixth core rig has been added to the current program and is now at Iron Cap where the first three holes that we drilled this year indicate the potential for another high-grade core zone discovery.” (See August 20, 2013 news release on Iron Cap).
Assay results from the next five core holes drilled at Deep Kerr this year are as follows: