The results of the 2021 drill programme have bolstered Seabridge Gold’s confidence in the Snowfield deposit, acquired in 2020, to support a reshaping the KSM mining project, near Stewart, British Columbia.
The dual-listed company reported that geological modelling of the 2021 drill results show the Snowfield deposit is the upper part of the Mitchell deposit, with essentially identical controls on metal distribution and complementary metallurgy, enabling a combined surface mining scenario for initial production at KSM.
Seabridge chairperson and CEO Rudi Fronk commented that the Snowfield deposit would likely enhance gold reserves, projected yearly gold production and payback while also deferring capital expenditure associated with block-cave development.
Affirmation is expected late in the second quarter when a new KSM preliminary feasibility study is scheduled for completion, said Fronk.
To avoid confusion going forward, the Snowfield deposit will now be referred to as the East Mitchell deposit.