Seabridge Gold Completes Initial Drill Program at 3 Aces Project
106 Front Street East, Suite 400, Toronto, ON M5A 1E1, Canada
416-367-9292 www.seabridgegold. com
NEWS RELEASE
Trading Symbols: TSX: SEA FOR IMMEDIATE RELEASE
NYSE: SA January 17, 2022
Seabridge Gold Completes Initial Drill Program at 3 Aces Project
Target parameters established for major drill program in 2023
Toronto, Canada... Seabridge Gold (TSX: SEA, NYSE:SA) announced today that drilling has been
completed and assay results received from its limited 2022 drill program . The program
commenced in mid -September after receiving a Class 4 Quartz Exploration Permit from the
Yukon Government Department of Energy, Mines, and Resources for its 100% owned 3 Aces
project. As one of the permit conditions requires that drilling cease each year at the end of
October, only four holes were drilled.
The limited program was designed to begin testing our 3-dimensional model around the Hearts
zone and determine which structural settings would enable us to begin establishing an initial
resource. One drill hole was used to confirm that gold- bearing structures are hosted within
secondary aniticlinal folds and thrust faults as predicted by our model. The assays from this hole
were highly rewarding, as expected. The three additional holes were used to test for controls on
down dip extensions to the high grade. These holes determined that the gold-bearing structures
are pronouced as they continue down plunge but only carry coherent high grades where they
exhibit flexures that enhance permeability.
Additionally, required upgrades were completed at the exploration camp, environmental
monitoring programs were initiated, and ongoing rehabilitation and reclamation work was
begun. These efforts were supported by First Nation contractors from Watson Lake and Ross
River under difficult weather conditions and time constraints. This work has prepared the project
for a much larger 2023 program.
3 Aces was acquired by Seabridge in March 2020 , consisting of 1,734 claims covering 357 km²
(35,700 ha), as a district scale, orogenic -gold project located in a readily accessible part of
southeastern Yukon. Target concepts for this project are consistent with some of the biggest
and richest gold deposits in the world, including the California Mother Lode Belt, Juneau Gold
Belt, Muruntau in Uzbekistan, and Obuasi in Ghana. Although previous work identified a broad
area of gold -in-soil occurrences extending more than 20 kilometers (12.4 miles) along strike ,
historical drilling focused in a 13 -kilometer square region known as the Central Core Area. This
drilling found good widths of high-grade gold but did not establish the continuity required for a
resource estimate.
Commenting on this year’s program, Rudi Fronk, Seabridge Chairman and CEO, noted: “We were
hoping to accomplish more in 2022, but the late start and challeging conditions slowed progress.
Initial results indicate that our new model , with further modifications, should resolve many of
the continuity questions at 3 Aces. Although only limited data acquision was accomplished in
this program we are confident we have moved closer to our goal of defining a large resource in
coming seasons.”
Hearts Main Zone
Two drill holes were completed at the Hearts Main Zone to evaluate the character and controls
of gold hosted in this target. The initial hole, 3A22-355, pierced the Hearts Main Zone structure
on the limb of a secondary anticline intersecting a broad zone of gold mineralization with a high-
grade core. Results from that hole are consistent with previous intersections in the Hearts Main
Zone, near the apex of a secondary fold.
A second hole, 3A22-356, was drilled down dip of 355 to confirm the continuity of the structure.
The structural corridor was found to continue down dip where it was expected but as multiple
sheared intervals or splays. Additional drilling is required to evaluate the changing geometry
and character of high-grade gold mineralization down dip. Preliminary CSAMT geophysical data
suggests the gold-bearing structural corridor is folded down dip. We believe these flexures are
likely to provide the fracturing required to accommodate and trap the gold-bearing fluids. The
CSAMT survey will be expanded in 2023 to identify these variations in the structural corridor and
improve targeting.
2022 Assay Results from Hearts Main Zone
Hole ID Depth (m) From (m) To (m) Interval (m) Au (g/t) As ppm
3A22-355
264.0
including
145.0 167.5 22.5 3.53 3,755
151.8 157.0 5.2 11.97 7,050
173.5 181.0 7.5 0.0.35 1,498
192.0 198.5 6.5 0.31 495
3A22-356 314.0
108.0 116.0 8.0 0.63 5,877
125.0 140.0 15.0 0.24 891
182.0 188.0 6.0 0.48 2,487
221.0 228.0 7.0 0.54 1,815
255.3 269.0 13.7 0.49 814
Hearts West Zone
The Hearts West Zone is directly west of the Hearts Main Zone across a post-mineral normal fault.
This separate structural block hosts a broad gold and arsenic in soil anomaly and extensive
surface exposures. Surface mapping confirms the Hearts West Zone hosts the same g eology
and deformation events as the Hearts Main Zone. The Hearts West Zone is deformed by
secondary anticlines and synclines with recognized thrust faults on the limbs of the
folds…precisely the characteristics predicted to be productive by our model. Little previous
drilling has been conducted on this zone.
Two holes were drilled into this target zone and both intersected low -grade mineralization in
host rocks similar to those at the Hearts Main Zone. The drill results are inconsistent with highly
anomalous soil geochemistry which appear to identify grade -enhancing flexures . Additional
drilling and surface work within this separate structural block is required to locate favourable
structural intersections along strike.
2022 Assay Results from Hearts West Zone
Hole ID Depth (m) From (m) To (m) Interval (m) Au (g/t) As ppm
3A22-357 423.0
82.1 88.8 6.7 0.28 267
99.0 100.8 1.8 0.96 1,667
129.2 147.5 18.3 0.32 1,507
379.0 396.6 17.6 0.17 365
3A22-358 210.0 207.8 210.0 2.2 0.82 319
All intervals reported were drilled perpendicular to the surface expression of the targeted
structure, however additional work is required to confirm that intervals are true thickness of a
mineralized feature. Exploration activities by Seabridge at the Iskut Project are being conducted
under the supervision of William E. Threlkeld, Registered Professional Geologist, Senior Vice
President of the Company and a Qualified Person as defined by National Instrument 43-101. Mr.
Threlkeld has reviewed and approved this news release. An ongoing and rigorous quality
control/quality assurance protocol is employed in all Seabridge exploration campaigns. At 3 Aces
this program includes blank, reference standards and metallic screen fire assays. Cross -check
analyses are conducted at a second external laboratory on at least 10% of the drill samples.
Seabridge holds a 100% interest in several North American gold projects. Seabridge's principal
asset, the KSM project, and its Iskut project are located in Northwest British Columbia, Canada’s
“Golden Triangle”, the Courageous Lake project is in Canada's Northwest Territories, the
Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in
the Yukon Territory. For a full breakdown of Seabridge's Mineral Reserves and Mineral Resources
by category please visit the Company's website at http://www.seabridgegold.com.
None of the Toronto Stock Exchange, New York Stock Exchange, or their Regulation Services Providers
accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements or information. All statements other than statements
of his torical fact included in this release, including, without limitation, statements regarding: (i) the Company
determining structural settings and establishing an initial resource estimate at 3 Aces ; (ii) the expected drilling,
CSAMT survey and surface work at the 3 Aces Project in 2023; (iii) the Company’s new model, with further
modifications, being able to resolve many of the continuity questions at 3 Aces; (iv) the presence at 3 Aces of grade-
enhancing flexures and discovery of favourable structural intersections along strike ; and (iv) the expanded CSAMT
survey in 2023 allowing the Company to identify variations in the structural corridor and improve targeting, are
forward-looking statements that involve var ious risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual results to differ materially from the
Company’s plans or expectations include regulatory and program execution issues, the geology at the Project not
conforming to the Company’s model of it, availability of capital and financing, general economic, market or business
conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time
in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities legislation.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and C.E.O.
For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: [email protected]