World News: 12:00 GMT Friday 11th January 2019. [Streetwise Reports Llc via Globe Newswire via SPi World News]
SAN FRANCISCO, Jan. 11, 2019 (GLOBE NEWSWIRE) -- From new targets at prime locations to major multi-million-dollar financings, begins 2019 with many projects in the works.
In late December, the company announced that summer drilling at its 100%-owned in northwestern British Columbia "encountered the hallmarks of a large copper-gold porphyry system."
The company zeroed in on the Quartz Rise lithocap in 2018. Specifically, it focused on testing for high-grade epithermal precious metal occurrences associated with the uppermost portion of a porphyry mineral system. The drill results indicated that most of the Quartz Rise lithocap had eroded. The company noted that hydrothermal breccia (diatreme) discovered in holes QR-18-14 and 17 confirmed that a porphyry source for the lithocap was nearby.
Seabridge Chairman and CEO Rudi Fronk noted, "We acquired Iskut in 2016 because it showed clear evidence of a large porphyry system similar in age and geology to our KSM project 30 kilometers to the east. . .We have since learned that this target is probably not viable in the Quartz Rise area due to erosion. However, we are very excited to find that this same erosion has given us the opportunity to explore for another KSM-style porphyry system located much closer to surface than we anticipated. This is the target we will now pursue at Iskut."
Meanwhile, at Seabridge's 100%-owned KSM project in northwestern British Columbia, Seabridge confirmed the down plunge extension of the Iron Cap core zone.
Seabridge is on the radar screen of numerous industry analysts.
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Globe Newswire: 12:00 GMT Friday 11th January 2019
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