Seabridge Gold Receives Kerr-Sulphurets Drill Results from Falconbridge.TORONTO -- Gold-Copper Mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. Encountered in all Six Targets Tested Seabridge Gold (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:SEA)(AMEX AMEX See: American Stock Exchange :SA) announced today that Falconbridge Limited has provided Seabridge with the results of its 2005 drill program at Seabridge's 100% owned Kerr-Sulphurets Property located in British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , Canada. The 2005 program consisted of 16 widely-spaced core drill holes totaling 4,092 meters designed to test six targets situated outside the resources previously defined for the Kerr and Sulphurets deposits (see http://www.seabridgegold.net/Kerr2005Map.jpg). Gold-copper mineralization was encountered at all six targets, with the Iron Cap, West Mitchell and Icefields zones yielding the most encouraging results. Iron Cap Zone The Iron Cap Zone is a large area of well-exposed gossanous, intensely and pervasisve quartz-sericite-pyrite-altered intrusive and volcanic rock at the northeast corner of the Seabridge claim block. It covers a roughly 500 by 1,500 meter northeast trending area between the Iron Cap glacier and Mitchell glacier. Falconbridge drilled five core holes totaling 1,247 meters at Iron Cap. Each of the five holes cut long intercepts of very fine grained chalcopyrite chalcopyrite (kăl'kəpī`rīt, kăl`kōpī'rīt) or copper pyrites (pīrī`tēz, pə–), brass-yellow mineral, sometimes with an iridescent tarnish. mineralization in intensely phyllic-altered monzonite monzonite Type of igneous rock that contains abundant and approximately equal amounts of plagioclase and potash feldspar, as well as other minerals. The type region is Monzoni, Italy, in the Italian Tirol; similar rocks have been described from Montana, Norway, Sakhalin . Results are as follows:
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Copper Gold
Drill From To Interval Grade Grade
Hole (meters) (meters) (meters) (%) (g/t)
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IC-05-01 3.3 249.3 246.0 0.20 0.52
incl. 31.3 91.3 60.0 0.23 1.09
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IC-05-02 0.9 250.0 249.1 0.21 0.50
incl. 216.9 250.0 33.1 0.21 1.04
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IC-05-03 1.5 249.3 247.8 0.22 0.27
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IC-05-04 5.2 248.1 242.9 0.21 0.35
incl. 205.9 242.8 36.9 0.27 0.83
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IC-05-05 6.6 249.6 243.0 0.15 0.12
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West Mitchell Zone The West Mitchell Zone is the westward continuation of the Mitchell Zone located 750 meters to the east. The Mitchell Zone is an area of intensely stockworked and veined, mainly phyllic altered, variably foliated fo·li·at·ed adj. Of or relating to rock that exhibits a layered structure. Adj. 1. foliated - ornamented with foliage or foils; "foliate tracery"; "a foliated capital" foliate volcanics and monzonitic porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. exposed over an area of at least 200 by 1,000 meters. Three holes previously drilled by Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. at the Mitchell zone encountered long intervals (+150 meters) of gold-copper mineralization grading approximately 0.70 gpt gold and 0.20% copper. Falconbridge drilled one core hole totaling 283 meters at West Mitchell with the following results:
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Copper Gold
Drill From To Interval Grade Grade
Hole (meters) (meters) (meters) (%) (g/t)
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WM-05-01 3.8 282.9 279.1 0.17 0.65
Incl. 141.0 261.6 120.6 0.22 0.91
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Icefields Zone Falconbridge believes that the Icefields Zone is the northeast extension of the Sulphurets gold deposit delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. by Placer Dome. Seabridge's geologists note that hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. alteration encountered in Icefields is different from other more copper rich-zones on the property, including more distinct silica alteration and more abundant potassium feldspar potassium feldspar A type of alkali feldspar that contains the molecule KAlSi3O8. Microcline and orthoclase are types of potassium feldspar. . At Icefields, disseminated chalcopyrite, minor pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. and trace molybdenite molybdenite (məlĭb`dənīt, mō–), a mineral, molybdenum disulfide, MoS2, blue-gray in color, with a metallic luster and greasy feel. occur in intensely silcified rocks and hydrothermal breccias similar to the Sulphurets gold deposit. The last drill hole at the Sulphurets Gold Zone is situated approximately 500 meters to the southwest of Icefields. Falconbridge core drilled two holes at Icefields. In hole IF-05-01 fine disseminated chalcopyrite occurs in variably silicified si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. and brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec rocks down to 121 meters. Below this depth, there is a sharp change in mineral tenor with copper values falling and gold grades increasing. Similar zones were encountered in Hold IF-05-02, however, Falconbridge terminated the hole as copper values receded. Icefields results are as follows:
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Copper Gold
Drill From To Interval Grade Grade
Hole (meters) (meters) (meters) (%) (g/t)
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IF-05-01 16.1 39.2 23.1 0.45 0.21
87.1 121.4 34.3 0.29 0.25
147.5 198.5 50.8 0.05 0.46
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IF-05-02 26.0 34.0 8.0 0.47 1.64
34.0 160.0 126.0 0.03 0.51
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Other Zones The remaining three zones tested by Falconbridge during the 2005 drill program were the North Mitchell, Main Copper and the MacQuillan. At North Mitchell, three holes were drilled with the best intercept encountered in Hole NM-05-03 consisting of 66.3 meters of 0.26% copper and 0.25 gpt gold. The other two holes drilled at North Mitchell encountered long intercepts (100 meters plus) of low grade copper and gold mineralization. At the Main Copper Zone, Falconbridge drilled three holes totaling 956 meters. Long intervals of low grade copper-gold mineralization were encountered in each hole including 70.0 meters at 0.33% copper and 0.32 gpt gold in hole MC-05-01; 234.0 meters at 0.24% copper and 0.17 gpt gold in hole MC-05-02 and 153.7 meters at 0.17% copper and 0.35 gpt gold in hole MC-05-03. At the MacQuillan zone, one hole (MQ-05-01) was drilled that encountered two zones of interest; 16.0 meters grading 0.31% copper and 0.19 gpt gold and a second zone of 153.5 meters grading 0.21% copper and 0.20 gpt gold. The Kerr-Sulphurets property is located in the Iskut-Stikine River region, approximately 65 km northwest of Stewart, British Columbia Stewart is a small town at the head of the Portland Canal in western British Columbia, Canada. In 2000, its population was about 700. History The Nisga'a, who lived around the Nass River, called the head of Portland Canal "Skam-A-Kounst," meaning safe place, probably . Falconbridge's exploration activities at Kerr-Sulphurets are being conducted under the supervision of Allan Huard, P. Geo. and Mike Savell, P. Geo., both of whom are Qualified Persons as defined by National Instrument 43-101. Seabridge has acquired a 100% interest in eight North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. gold projects, subject to earn-in rights of up to 65% at its Kerr-Sulphurets project and up to 62.5% at its Quartz Mountain Quartz Mountain is located in southwest Oklahoma. It is the namesake of Quartz Mountain Nature Park on which it is located, and is open to the public year round for Rock Climbing, Hiking, Nature Observation and Photography, and Environmental Education and Interpretation. project held by potential partners. For a breakdown of the Company's mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature by project and resource category please see http://www.seabridgegold.net/Resource.htm. All resource estimates reported by the Company, with the exceptions of the historic estimates for the Grassy Mountain, Kerr Sulphurets and Hog Ranch projects, were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the estimated or expected future production and operating results and costs and financial condition of Seabridge, planned work at the Company's projects and the expected results of such work are forward-looking statements within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur. Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's Annual Information Form filed with SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review in Canada (available at www.sedar.com) for the year ended December 31, 2004 and in the Company's 20-F filed with the U.S. Securities and Exchange Commission (available at www.sec.gov/edgar.shtml). Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made. ON BEHALF OF THE BOARD "Rudi Fronk," President & C.E.O. The TSX-V Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Seabridge Gold Inc. (TSX VENTURE:SEA) (AMEX:SA) |
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