6:34AM Seabridge Gold discovers high grade epithermal gold deposit at KSM Project (SA) 16.88 : Co announced that exploration drilling this summer on its 100%-owned KSM Project in northwestern British Columbia has discovered an epithermal style of gold occurrence which contains significant widths of higher gold grades including narrow veins with the highest gold grades found at the project to date. KSM has proven and probable reserves totaling 38.2 mln ounces of gold and 10 bln pounds of copper in four very large deposits which have an average grade of 0.55 grams per tonne of gold, 0.21% copper and 2.74 grams per tonne of silver. The new discovery has intercepts of gold and silver grades that are substantially higher. Drill hole C-12-01 encountered epithermal style mineralization in an entirely new zone at shallow depth and low elevation, called the Camp zone. This hole returned two 2 meter intercepts grading above 8 grams of gold per tonne. A second hole, C-12-02, drilled 400 meters southeast of C-12-01, intersected 22.0 meters averaging 8.94 grams per tonne of gold and 41.6 grams per tonne of silver. This hole returned a 2 meter intercept of 66.7 grams of gold per tonne and 287 grams per tonne of silver. A third hole into this zone, C-12-03 drilled 900 meters to the northeast of C-12-02, returned 98.7 meters at an average gold grade of 2.11 grams per tonne including 17.7 meters averaging 4.41 grams per tonne of gold and an additional 6.0 meter intercept averaging 6.24 grams of gold per tonne.
Comes as a surprise as previous statements regarding this summers drill, were less than exuberant. The perception of KSM may change to reflect the similarities of Brucejack.A big positive, and need to see how it effects the economics of a mine, but ....yes