Snowstorm Drill Campaign 2020 Drilling to follow - up on confirmed host stratigraphy and new structures
News Release
Trading
Symbols:
TSX: SEA
FOR IMMEDIATE RELEASE
NY
SE
: SA
August
5
, 2020
Sea
bridge Gold
Mobiliz
es
for
Snowstorm Drill Campaign
2020
Drilling to
follow
-
up on confirmed host stratigraphy and new
structures
Toronto, Canada... Seabridge Gold (TSX: SEA, NYSE:SA)
said today it
is finalizing plans
for
a
follow
-
up
drill program at its 100%
-
owned Snowstorm Project in Northern Nevada
to begin later
this month
.
Prior work has determined that t
he project,
located
6 kilometers north of Twin Creeks
and 15 kilometers northwest of Turquoise Ridge,
has
the permissive stratigraphic host rocks
and
structures found at
these two successful gold mines. An initial
four
drill hole program, anticipated
to be about 5,700
meters, will evaluate several
newly
defined
structural features in the
favo
rable
Ordovician carbonate stratigraphy.
Rudi Fronk, Chairman and CEO of Seabridge Gold commented: “
I
n 2017
,
we
acquired
Snowstorm
because we th
ought
it
was
an
excellent
opportunity
for the discovery of
a Getchell
-
style
high grade
gold
deposit.
These occurrences are challenging to
find
because the
targets
are hidden under
younger volcanic cover.
Last year we confirmed that Snowstorm has the right stratigraphy an
d a
continuation of the Getchell structural setting.
This year
we will f
ollow the permissive stratigraphy
into areas where it is intersected by structures
which we think may
have transported gold
-
bearing
solutions
.”
Seabridge encountered the host Ordovici
an carbonate stratigraphy as predicted during the 2019
drilling campaign. These carbonate rocks are intercalated with basaltic tuff and sills characteristic
of Getchell
-
style deposits. Additional magnetotelluric (MT) surveys by Seabridge extend
ed
the
most
promisi
ng setting
east into a previously unexplored area. Results from th
e MT
survey
improved
our
understanding of the fault patterns and regional deformation style at Snowstorm.
The current program will test structural intersections between a
n interpret
ed
shallow dipping fault
plane and high
-
angle faults.
Two
hole
s
are
directed at the intersection of the shallow dipping fault
and multiple northeast trending fault zones. A
third
hole will evaluate this structural intersection
within thermally metamorphosed rocks adjacent to a Cretaceous intrusion. The last hole
will
test
low resistivity anomalies on the hanging wall of the shallow dipping fault plane in the vicinity of
northeast and northwest trending faults. These
holes
are designed to
deliver
definitive data on
whether
these structures provided pathways for gold
-
bearing
fluids.
Exploration activities by Seabridge at the Snowstorm
Project
are 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.
Seabridge Gold holds a 100% interest in several North American gold resource projects. The
Company's
principal assets are the KSM and Iskut properties located near Stew
art, British
Columbia, Canada and
the Courageous Lake gold project located in Canada's Northwest
Territories. For a breakdown of Seabridge's mineral reserves and resources by project and category
please visit the Company's website at
http://www.seabridgegold.net/resources.php
.
All reserve and resource estimates reported by the
Corporation were calculated in accordance with the Canadian National Instrument 43
-
101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the
requirements
of the U.S. Securities and Exchange
Commission. Mineral resources which are not mineral reserves do not have demonstrated economic
viability.
This news release includes certain forward
-
looking statements or information. All statements other than statements of historical fact
included in thi
s release, including, without limitation, statements regarding: (i) the
scale of the 2020 drill program;
and
(ii) the presence of
and location of structures intersecting
the permissive stratigraphic host rocks
and the potential that they
may have transport
ed gold
-
bearing solutions
, are forward
-
looking statements that involve various 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 anticip
ated in such statements.
Important factors that could cause actual results to differ materially from the Company's plans or expectations include regul
atory issues,
discontinuity or otherwise unexpected geology at the Project, timeliness of government or re
gulatory 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 intenti
on 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 P. Fronk"
Chairman & CEO
For further information, please contact:
Rudi P.
Fronk, Chairman and CEO
Tel: (416) 367
-
9292
Fax: (416) 367
-
2711
Email:
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts
responsibility for the adequacy or accuracy of this release