Make Kitco Your Homepage

Golden Triangle company reconsiders this year's exploration program

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Seabridge Gold (TSX:SEA) said Wednesday it is evaluating "whether or not it makes sense" to proceed with this year's exploration programs.

"This year's budget includes drill programs at our 100%-owned Iskut Project in British Columbia, Canada and at our 100%-owned Snowstorm project in Nevada, USA. We are evaluating whether or not it makes sense to proceed with these programs given the difficult operating requirements imposed by the virus and the need to protect our work crews," said the company in a statement.

The company said it will make a decision in May.

Delaying a year would not impact the company's obligations to its land holdings, added the company.

Seabridge claims one of the world's largest resource base of gold, copper and silver.

During the first nine months of 2019, the company made cash expenditures of $18.3 million at its KSM, Courageous Lake, Iskut, and Snowstorm projects.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.