Promising Results from Drilling at Seabridge Gold's Iskut Project

Core Viewpoint - Seabridge Gold has reported promising results from the first phase of exploration drilling at its Iskut project in British Columbia, indicating significant gold and copper mineralization at the Snip North target, suggesting the potential for a nearby porphyry intrusive source [1][2]. Exploration Results - Hole 17 intersected 303 meters of 0.75 grams per tonne (gpt) gold and 0.10% copper - Hole 18 intersected 478 meters of 0.49 gpt gold and 0.13% copper - Hole 20 intersected 532 meters of 0.48 gpt gold and 0.10% copper [1]. Geological Insights - The mineralization is characterized by extensive potassic alteration within a tuffaceous stratigraphy, indicating a potential porphyry Cu-Au mineral deposit [2][5]. - The mineralized package has dimensions of approximately 1.5 kilometers by 500 meters, with significant alteration suggesting a large intrusive source nearby [2][5]. Drilling Program Details - The drilling program aims to encounter intrusive rock with characteristics typical of porphyry deposits, focusing on copper and gold concentrations that may be mineable [2][4]. - Initial interpretations of the geology have evolved, indicating a series of ash tuff eruptions rather than a microcrystalline porphyritic intrusion [3]. Implications for Future Exploration - The extensive potassic alteration suggests a significant magmatic hydrothermal event, which is favorable for the presence of a robust Cu-Au porphyry source [5]. - The ongoing exploration is seen as a critical step towards unlocking the porphyry potential of the Iskut project, with the current findings viewed as a discovery in progress [2][4].