Seabridge to Invest $15 Million in 2013 Drill Program

Seabridge Gold (TSX:SEA,NYSE:SA) reported 2012 drill results from the KSM gold-copper project and announced plans to invest in a $15 million drill program for 2013 to explore the potential for a very large tonnage of high-grade copper and gold mineralization at the project.

As quoted in the press release:

A total of 19,813 meters of core drilling was completed in the 2012 program resulting in: (1) the extraordinary Deep Kerr discovery ; (2) discovery of three more potential high grade zones at McQuillan, Iron Cap and North Mitchell ; and (3) discovery of an unexpected epithermal gold deposit at the Camp Zone. Further results are awaited from another 10 holes from the Camp Zone.

Seabridge Chairman and CEO, Rudi Fronk, said:

When we began our search for a core zone at KSM, we assumed that the four main deposits would probably link to one such zone. We now believe that there may be several deep seated sources. Our first priority is to generate a high quality resource for Deep Kerr which could have a very significant economic impact on the KSM project particularly if it proves to be accessible from the Sulphurets valley floor by way of an inclined tunnel. Our second priority is to test the deep potential of the McQuillan and Iron Cap core zone targets which are ideally located for ease of access and integration into our project design.

To view the full press release, click here.