Drilling at the McQuillan target in 2012 confirmed the presence of a distinct gold-copper porphyry mineralization system southeast of, and below, the Sulphurets deposit (see news release of 12/12/12). Magnetite-bearing potassic alteration and hydrothermal breccias with chalcopyrite and gold appear to indicate proximity to a possible core zone. A drill hole has been designed to be used as a "mother hole" from which additional "daughter holes" can be completed using directional drilling tools. The mother hole will be surveyed using multiple borehole geophysical tools to aid in identifying and locating magnetic and conductive sources associated with a core zone. McQuillan could be exploited underground via a decline from either the Mitchell or Sulphurets valleys without significant changes to the current mine design.
Deep drilling below the Iron Cap deposit in 2012 attempted to test the down plunge of the deposit for higher grade gold-copper core zone mineralization. The hole deviated substantially, and although it was mineralized for its entire length of 949.5 meters, this hole passed out of the plunge projection of the deposit and did not test the concept. Two off-set holes are planned to pursue the down plunge projection. Borehole geophysical tools are expected to help explore the potential at Iron Cap effectively. Both holes will utilize directional drilling tools to ensure correct hole alignment and provide opportunity for "daughter holes". Iron Cap is currently designed as an underground block cave mine; extending the deposit down plunge should therefore result in little change to the KSM project design.
Discovered in 2012, the Camp Zone in the bottom of the Sulphurets Valley is interpreted as a preserved down thrown block of epithermal-style gold and silver occurrence. This target has similarities to Pretium's neighboring Brucejack deposit (see news release of 16/01/13). To date, drilling has been widely spaced (150 to 300 meters) with just 13 holes within an area of approximately 400 meters by 1200 meters and a vertical range of 600 meters. The drill results can be characterized in two ways. First, the drilling cut broad envelopes of disseminated mineralization such as 98.7 meters of 2.1g/T gold and 2.5g/T silver; 81.0 meters of 1.4g/T gold and 8.9g/T silver; and 39.2 meters of 2.2g/T gold and 10.6g/T silver. These widths could be amenable to bulk mining. Second, drilling intersected discrete higher grade veins including17 quartz-carbonate vein zones averaging 1.6 meters in thickness, many with visible gold, averaging 16.9g/T gold and 80.2 g/T silver. These widths and grades are more akin to the nearby Brucejack occurrence. Drill testing is designed to provide confirmation of the controlling structural geometry and continuity of higher grade mineralization.
Exploration activities at KSM are being conducted by Seabridge personnel under the supervision of William E. Threlkeld, Senior Vice President of Seabridge 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 being employed during the 2013 program including blank and reference standards in every batch of assays. Cross-check analyses are being conducted at a second external laboratory on 10% of the samples. Samples are being assayed using fire assay atomic adsorption methods for gold and total digestion ICP methods for other elements.
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