Results from the first 10 infill core holes drilled this summer at the Seabridge Gold Inc. (SEA.TO) 100% owned Courageous Lake Project are likely to expand and upgrade the project's multi-million ounce gold resource, the company said today. Another 38 infill holes will be drilled before the program ends this September, it added. According to a statement, this year's $16 million program at Courageous Lake is designed to generate the data required to complete a Preliminary Feasibility Study the second quarter of 2012. The drilling component of this program has four main objectives: (i) to upgrade inferred resources within the current FAT deposit pit plan by infill drilling, potentially qualifying them as reserves in the PFS; (ii) to complete geotechnical drilling required for pit slope and water management planning in the PFS; (iii) to condemn areas where project facilities will be located; and (iv) to look for new targets along the 53 kilometers of the Matthew's Lake greenstone belt held by Seabridge.
Seabridge President Rudi Fronk said: "The infill drilling this year is once again confirming the reliability of our resource model for the FAT deposit. Last year's similarly-sized program upgraded 2.5 million ounces of inferred gold resources to higher categories and also added new resources. Based on the first 10 holes drilled this year, we expect a similar result, which will have a significant positive impact on the project." An updated NI 43-101 compliant resource estimate is expected late this year incorporating the 2011 drilling results.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
