Seabridge Chairman and CEO Rudi Fronk commented: "We are excited to get our programme started early in the field season after last years success at Iskut. At Snip North, we have extensive evidence of copper-gold mineralisation in historical drilling and deep penetrating geophysical surveys. As the season matures and snow melts, we'll move upslope, following a pronounced regional structural tend, to continue work below the Bronson Slope target. Our team is enthusiastic that both these targets are new copper-gold rich porphyry systems. In addition, we think there is significant potential to expand the existing Bronson Slope mineral resource."
Regional geophysical surveys and surface geology continue to confirm a district scale structural feature that connects the Quartz Rise, Bronson Slope and Snip North targets. All the recognised mineral occurrences at Iskut are interpreted as high-level expressions of Cu-Au porphyry systems aligned along this regional structural trend. The trend has similar characteristics to the one that hosts a cluster of porphyry systems Seabridge has defined at our nearby KSM project.
An MT survey that began last season is being expanded at Snip North. This survey is investigating extensive sericite-pyrite alteration and Cu-Au geochemical anomalies in sedimentary rocks identified by 32 shallow diamond core holes previous operators drilled. Deeper drilling is planned to identify the source of this alteration and related copper-gold concentrations. The initial objective is to complete 3500 m of drilling in three to four holes at Snip North, which could then be expanded depending on results.
The main part of the 2023 programme will continue the drilling below the Bronson Slope resource which started last year and discovered a large, steeply plunging quartz-magnetite breccia pipe with clear indications of being sourced from hydrothermal eruptions out of an intrusion. The copper and gold concentrations within and on the margins of this breccia pipe are evidence the source intrusion could host a significant mineral system. Results from drilling in 2022 also identified copper and gold grades in sedimentary rocks outside of the Bronson Slope mineral resource. Resource expansion potential will be evaluated from results in the shallow parts of holes targeting the deeper breccia pipe and its intrusive source.
