Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced in a news release it identified four new targets under the Sulphurets Thrust Fault on its KSM property in British Columbia.
The geologic signature of these prospects matches that of the established deposits where Seabridge has outlined reserves and resources, the company stated. Unlike the known deposits that were exposed at surface, though, these ones are under the surface, or "blind," the release noted. Whereas they could be tested from surface, Seabridge would likely evaluate them for bulk underground mining.
However, in the release, Chairman and CEO Rudi Fronk reiterated that Seabridge does not intend to drill any of these four new targets in the near future.
Rather, the intent in identifying them was threefold. One, the company aimed to show that more exploration potential exists at KSM. Second, it wanted to assess the potential in areas proposed for project infrastructure. Third, it sought to better delineate the characterization of waste materials.
"We believe these new targets could contribute to the multigenerational life of the KSM mining district while the data we generated also provide insights to help optimize site development," Fronk added. "We think these data will be valuable to a joint venture partner."
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