Uite 400, Toronto, Onta R Io M5A 1E1 Canada
106 FRONT STREET EAST,
S
UITE 400, TORONTO, ONTA
R
IO M5A
1E1 CANADA
TEL. 416
-
367
-
9292 FAX.416
-
367
-
2711 WWW.SEABRIDGEGOLD.NET
News Release
Trading Symbols:
TSX: SEA
F
OR
I
MMEDIATE
R
ELEASE
NYSE: SA
July 16, 2020
Seabridge Begins Drilling Iskut Gold
-
Copper Porphyry Target
Strong geophysical anomalies help define target under Quartz Rise Lithocap
Toronto, Canada
... Seabridge Gold (TSX:SEA) (NYSE:SA) reports today that core drilling has commenced at its
100%
-
0wned Iskut project in British Columbia to test below the Quartz Ri
se Lithocap for a gold
-
copper porphyry
mineral system similar to those on Seabridge’s nearby KSM Project. The Iskut target has been developed over the
past three years by making intensive use of geophysical tools, surface mapping and sampling and prelimina
ry drilling.
Rigorous procedures are being followed in this year’s program to minimize the risks associated with COVID
-
19.
Two shallow drill campaigns discovered a promising diatreme below the Quartz Rise Lithocap located southeast of
the old high
-
grade Jo
hnny Mountain Mine. Elevated surface gold and copper concentrations situated within a large,
intense induced polarization anomaly found in close association with magnetic anomalies have helped to define the
target location below and west of the well
-
develo
ped lithocap.
Up to 8,000 meters of core will now be drilled to
evaluate about 750 meters of strike and more than 800 meters of vertical projection evident in the geophysical data.
Seabridge Chairman and CEO Rudi Fronk commented: “Seabridge acquired the la
rge land package at Iskut because
we saw clear evidence of a porphyry system with many of the characteristics of our giant KSM project in rocks of
the same age. We are excited that we now have the opportunity to test these ideas. We wrestled with the chall
enge of
implementing a drill program this season during the COVID
-
19 pandemic but our team has worked closely with our
Tahltan Nation partners, the BC Health Ministry, suppliers and other exploration companies in the area to develop
effective procedures fo
r operating in the current global health crisis. Crews have new, clearly defined obligations to
protect each other against infection and the spread of the virus, all of which have been embraced by our team.”
The program plan will follow the successful formula used at KSM which led directly to the discovery of the Deep
Kerr zone (cave
-
constrained Inferred Resource of 1.9 billion tonnes grading 0.31g/T Au and 0.41% Cu). Drill holes
are designed to cut across the
IP anomaly and a distinct magnetic feature which encloses the diatreme encountered in
previous drilling. A hydrothermal breccia (diatreme) discovered in 2018 was found to contain clasts of porphyry
-
style vein fragments that confirmed an underlying porphyr
y source for the lithocap. Holes are planned to penetrate
the geophysical anomalies at various elevations along the strike of the features, targeting the likely cradle of the
porphyry system. The geophysical footprint of this target trends into an area whe
re glacial erosion has exposed the
system vertically over at least 800 meters, making the target amenable to drilling from surface.
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 pr
otocol is employed in all Seabridge exploration campaigns. This program
includes blank and reference standards. Cross
-
check analyses are conducted at a second external laboratory on at
least 10% of the drill samples.
Seabridge holds a 100% interest in sev
eral North American gold projects. The Company's principal assets are the
KSM and Iskut Projects located near Stewart, British Columbia, Canada and the Courageous Lake gold project
located in Canada's Northwest Territories. For a full breakdown of Seabridg
e's mineral reserves and mineral resources
by category please visit the Company's website at
http://www.seabridgegold.net/resources.php
.
106 FRONT STREET EAST,
S
UITE 400, TORONTO, ONTA
R
IO M5A
1E1 CANADA
TEL. 416
-
367
-
9292 FAX.416
-
367
-
2711 WWW.SEABRIDGEGOLD.NET
Forward Looking Statements
This news release
includes certain forward
-
looking statements or information. All statements other than statements of historical fact included
in this release, including, without limitation, and other future plans and objectives of the Company including; (i) further e
xplora
tion and the
timing thereof at the Iskut Project, (ii) that the previously discovered diatreme is promising, and (iii) resource estimates
,
are forward
-
looking
statements that involve various risks and uncertainties. There can be no assurance that such stat
ements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such statements. Important factors that could cau
se actual results to
differ materially from the Company's plans or expectations include
regulatory issues, market prices, availability of capital and financing,
general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed he
rein and from
time to time in the filings made by the Com
pany 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 l
egislation.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman & 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: