Seabridge Gold's KSM "has potential" to host higher-grade mineralization - StonecapThu 8:35 am by Joyanta Acharjee
proactiveinvestors.com
 Seabridge's principal assets are the KSM property located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories.
Stonecap Securities issued a note on Seabridge Gold (TSE:SEA) after the company released data from its summer drilling program at the KSM Project in northwestern British Columbia.
The capital markets firm has a "Sector Perform" rating on Seabrodge with a $19.15.
The drill results were from the Camp Zone and grades from all three holes were much higher than KSM’s existing reserve grade of around 0.5 grams per tonne (g/t) gold.
Amongst the highlights, drill Hole C-12-01 intersected 0.85 g/t gold over 74 metres, starting 200 metres down-hole; Hole C-12-02 intersected 8.94 g/t gold over 22 metres, starting 114 metres down-hole, including 2 metres at 66.7 g/t gold and Hole C-12-03 intersected 2.11 g/t gold over 98.7 metres, starting 151.3 metres down-hole, and an additional 6.24 g/t gold over 6 metres.
"These drill results show that KSM has the potential to host higher-grade mineralization," Stonecap Securities analyst Christos Doulis said.
"Furthermore, these results suggest an epithermal gold system that is distinct from the high-grade copper core (which is a likely genesis for the known deposits at KSM) that the company’s 2012 exploration is focused on."
Seabridge's principal assets are the KSM property located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories. |
