Mining News
Seabridge begins KSM and Snowfield projects integration
(Kitco News) - Seabridge Gold (TSX:SEA) (NYSE:SA) announced today that it has closed its previously announced acquisition of the Snowfield property from Pretium Resources.
The Snowfield property hosts a large gold resource immediately adjacent to Seabridge’s 100%-owned KSM gold-copper project in northeast British Columbia, Canada.
According to the company’s statement, this acquisition enables “exciting” new development opportunities for KSM which could have a significant positive impact on project economics.
Purchase of Snowfield project adds 25.9 million oz of Measured and Indicated gold resources adjacent to Seabridge’s flagship KSM project.
Work begins on Snowfield-KSM integration expected to further improve economic projections.
Chairman and CEO Rudi Fronk said, “Work is already underway to determine how to integrate Snowfield into a new KSM mine plan. We expect a large portion of the Snowfield mineral resource could be exploited in a combined operation, which could potentially improve KSM’s IRR and NPV projections as well as shortening the payback period of initial capital. Our current environmental approvals include haul roads through the Snowfield property which may allow us to expedite its development and access some of its best grade material early in the mining process. The next step is to generate additional data that is necessary to complete a new Preliminary Feasibility Study for the KSM project which includes the Snowfield property.”
Seabridge holds a 100% interest in several North American gold projects. The company's principal assets are the KSM and Iskut projects located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories.
