Seabridge Gold is on the verge of beginning a drilling program on its Iskut property to further define a gold-copper deposit similar to its nearby and more developed KSM project.
Drilling is intended to confirm geophysical surveys that indicate the potential of a large gold-copper system on the property. Preliminary drilling intersected intrusive rocks similar in composition and age to the KSM ore body.
“Seabridge acquired the large land package at Iskut because of its many characteristics similar to our giant KSM project,” said Seabridge CEO Rudi Fronk. “Since the acquisition, we have refined our target ideas with additional data and experience from KSM. The structural complexity of this terrain made us proceed methodically and we now have multiple lines of evidence that point to a coherent target for the gold-copper porphyry source.”
The Iskut project is owned and operated by SnipGold, a subsidiary of Seabridge on Tahltan territory and current activities have the blessing of the Tahltan Central Government (TCG).
“SnipGold has demonstrated clear and transparent intentions of addressing historic mining activities at the former Johnny Mountain Mine site, located in Tahltan Territory,” said Chad Day, TCG president. “We are pleased to work with them collaboratively to support and further the reclamation programs at the site by providing services through Tahltan businesses and people. We are pleased that SnipGold is addressing this historic issue and look forward to this continued relationship with SnipGold.”
Johnny Mountain was an underground gold mine that was in commercial production from November 1988 to September 1990 and briefly in 1993 from September to November.
It is located approximately 40 km north of KSM and 100 km northeast of Stewart.