Seabridge Gold

Iskut: HIGHLIGHTS

The Iskut Project was obtained with the closing of Seabridge’s acquisition of SnipGold Corp. in June, 2016. The property is located in northwestern British Columbia, about 110 km northwest of Stewart, BC and 30 km by air from Seabridge’s KSM Project. The Iskut property consists of a contiguous block of 100 BC Mineral Claims, 2 Mineral Leases and 13 Crown Grants covering 29,436 hectares (294 km2) situated in the Liard Mining Division.

The property includes the former high grade gold Johnny Mountain Mine and the copper-gold Bronson Slope deposit. Seabridge is reviewing past resource estimates for Iskut to determine what can be reported.

Current Programs:

The Iskut Project’s Quartz Rise target (see graphic) is a lithocap feature which can act as a trap for precious metal fluids at the top of large gold-copper porphyry systems. The lithocap target began as a theoretical concept based on our understanding of porphyry gold-copper systems at our nearby KSM project. In 15 months of work, we have learned a great deal and the concept has become a real, data-driven target. We believe we can now find the source of the high-grade gold associated with sulfide-bearing quartz veins at Quartz Rise. Our research continues to uncover compelling reasons why the lithocap may be hiding a significant, near surface epithermal precious metals system.

The 2017 drill program, the first ever at Quartz Rise, confirmed the presence of a gold-bearing intermediate sulfidation epithermal system beneath the Quartz Rise lithocap. The drilling intercepted several narrow, discontinuous intervals of high-grade gold. A subsequent 3D induced polarization (IP) geophysical survey together with detailed geological mapping and sampling of available rock faces indicate that the 2017 drilling may not have been in the correct orientation. New results from cliff face sampling show exceptional gold results that appear to correspond with a favorable IP chargeability anomaly under Quartz Rise.

Quartz Rise is underlain by Jurassic felsic volcanic stratigraphy consisting of coarse lithic tuff intercalated with densely-welded tuffaceous flows, incestuous porphyritic sills and tuffaceous sedimentary rocks, deposited unconformably on Triassic marine sedimentary rocks. This is the geological time break that has proved to be productive elsewhere in the region. At Quartz Rise, the coarse lithic tuff tends to show much more intense leaching and acid alteration than do the overlaying densely-welded tuff units which appear to have capped the fluid flows. Exposures of the coarse lithic tuff host in the cliff face have yielded exceptional gold values in more intensely-altered intervals found in proximity to IP chargeability anomalies.

This year's drilling, which commenced in August, is designed initially to follow gold-bearing veins in the coarse lithic tuff away from the cliff face into the chargeability anomaly. Additional holes will test other chargeability targets. The 3,000 meter core program can be expanded contingent on success.

In conjunction with its exploration program, Seabridge is also undertaking environmental work to ensure compliance with existing authorizations and to begin remediation programs required to mitigate the impacts of historical mining activity. This program includes a comprehensive evaluation of best practices for remediation on the property drawing upon the Seabridge environmental team’s experiences at KSM as well as engagement with the Tahltan First Nation and BC regulatory officials.