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.

Current Programs:

At Iskut, the primary aim in 2017-8 was to explore for an epithermal precious metals deposit at Quartz Rise (see graphic on the right), a lithocap feature which likely acted as a trap for precious metal fluids at the top of a large gold-copper porphyry system. The thinking was that the porphyry itself was likely too deep to be the primary target.

The 2017 drill program, the first ever at Quartz Rise, confirmed the presence of a gold-bearing intermediate sulfidation epithermal system within 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 indicated that the 2017 drilling may not have been in the correct orientation.

Drilling in 2018 was designed to follow gold-bearing veins in the coarse lithic tuff away from the cliff face into the chargeability anomaly. Results from the 2700 meter program confirmed that much of the Quartz Rise lithocap had been eroded, leaving little opportunity for a sizeable high-grade epithermal occurrence in this area. However, this drilling encountered the hallmarks of a large copper-gold porphyry system: a robust hydrothermal breccia (diatreme) containing abundant clasts of chalcopyrite-pyrite-magnetite in veined intrusive rocks and stock works positioned over a large IP chargeability anomaly interpreted as a sulfide-rich porphyry intrusion.

The discovery of a diatreme supports the view that a porphyry source for the lithocap is nearby. Diatremes are explosive volcanic vents produced in a solid rock structure by the energy from expanding fluids and gases evolving off magmas. Diatremes are commonly found above and adjacent to porphyry mineral systems which are their source of heat and fluids. Extensive review of the available data indicates the source for the diatreme is south and southwest of Quartz Rise, where glacial erosion has exposed rocks deeper in the mineralizing system. This erosional window provides the opportunity to explore into the heart of the porphyry system with much shorter drill holes from a lower elevation than originally thought (see diagram). The porphyry is now the primary target at Iskut

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.