Gold Resources Increase 14% at Seabridge's Noche Buena Project
2008年1月28日 - 9:01PM
Marketwired Canada
Seabridge Gold (TSX VENTURE:SEA)(AMEX:SA) announced today that Resource Modeling
Inc. ("RMI") has updated its independent resource estimate for the Company's
100% owned Noche Buena project located in Sonora, Mexico. The updated resource
estimate incorporates 33 holes (approximately 8,000 meters) drilled by Seabridge
in 2007. An updated National Instrument 43-101 report will be filed on SEDAR
within 45 days.
The Noche Buena project is located in northwestern Sonora State, about 55
kilometers from the city of Caborca and within the geological terrain that is
host to several large gold deposits, including the La Herradura and Mesquite
Mines. Seabridge Gold purchased the property in April of 2006 at which time RMI
completed a National Instrument 43-101 technical report incorporating all
available historic data. In 2007, Seabridge undertook a 33 hole reverse
circulation (RC) drilling program that was designed to expand the known gold
resource at Noche Buena by testing new targets within and adjacent to the
existing deposit.
The following table summarizes RMI's updated estimate of gold resources for
Noche Buena as of January 21st, 2008 using a 0.25 gram per tonne (g/t) gold
cutoff grade:
Noche Buena Resource Estimates at 0.25 g/t Gold Cutoff Grade
---------------------------------------------------------------------------
Indicated Resources Inferred Resources
---------------------------------------------------------------------------
Tonnes Gold Gold Tonnes Gold Gold
(000) Grade Ounces (000) Grade Ounces
(g/t) (g/t)
---------------------------------------------------------------------------
26,590 0.74 633,000 18,555 0.61 364,000
---------------------------------------------------------------------------
Seabridge Gold President and CEO Rudi Fronk noted that "the Noche Buena deposit
has significant potential for early development as a low-cost, heap-leach,
run-of-mine operation. However, the smaller projects in our portfolio like Noche
Buena are now dwarfed by our two core assets - the Kerr-Sulphurets-Mitchell
("KSM") project in British Columbia and the Courageous Lake project in Canada's
Northwest Territories - where recent work has added substantial resources. In
our view, these smaller assets are no longer adequately reflected in Seabridge's
valuation and should therefore be divested in order to optimize shareholder
value. JP Morgan has been engaged to conduct a sales process for Noche Buena on
our behalf."
More than 83% of Seabridge's total gold resources are currently contained in the
KSM and Courageous Lake projects. An updated National Instrument 43-101 resource
calculation for the Mitchell zone of the KSM project is scheduled for completion
next month.
RMI has reviewed quality assurance/quality control (QA/QC) results from
Seabridge's 2007 reverse circulation drilling program and believes that the new
assay data are representative and suitable to be used for estimating Mineral
Resources.
In addition to collecting new drill hole data, Seabridge's geologic staff
relogged a significant number of previous reverse circulation drill holes. These
data in conjunction with the 2007 drill holes were used to develop an updated
geologic interpretation of the structurally controlled mineralization at Noche
Buena. Gold grade envelopes were then constructed within the interpreted
structural zones using a 0.25 g/t gold cutoff grade. The gold grade envelopes
were used by RMI in estimating Mineral Resources. High-grade outlier assays were
capped prior to creating 6-meter-long drill hole composites that were used to
estimate block grades. Inverse distance, nearest neighbour and krigging methods
were used to obtain and compare three different resource estimates.
The estimated block grades were classified into Indicated and Inferred Mineral
Resource categories using distance to data and number of drill holes criteria.
Indicated Mineral Resources were restricted to blocks located inside of the gold
grade envelopes.
Mineral Resources for Noche Buena are summarized below at a variety of gold
equivalent cutoff grades.
--------------------------------------------------------------------------
Noche Buena Resource Estimates at Different Gold Cutoff Grades
---------------------------------------------------------------------------
INDICATED RESOURCES INFERRED RESOURCES
Gold --------------------------------------------------------------------
Cutoff Tonnes Gold Gold Tonnes Gold Gold
(g/t) (000) Grade Ounces (000) Grade Ounces
(g/t) (000) (g/t) (000)
---------------------------------------------------------------------------
0.10 27,016 0.73 634 62,637 0.29 584
---------------------------------------------------------------------------
0.15 26,942 0.73 632 41,405 0.38 506
---------------------------------------------------------------------------
0.20 26,830 0.74 638 27,439 0.48 423
---------------------------------------------------------------------------
0.25 26,590 0.74 633 18,555 0.61 364
---------------------------------------------------------------------------
0.30 25,484 0.76 623 15,454 0.68 338
---------------------------------------------------------------------------
0.35 23,505 0.80 605 12,455 0.76 304
---------------------------------------------------------------------------
0.40 20,910 0.85 571 9,950 0.86 275
---------------------------------------------------------------------------
0.45 18,640 0.90 539 8,376 0.94 253
---------------------------------------------------------------------------
0.50 16,573 0.96 512 7,208 1.02 236
---------------------------------------------------------------------------
RMI notes that the April 2006 Noche Buena resource was tabulated using a 0.30
g/t cutoff grade. The lower cutoff grade used in the updated estimate reflects
current price and cost regimes. The updated resource estimate contains 10% more
Indicated and 10% more Inferred gold ounces than the April 2006 estimate using a
0.30 g/t gold cutoff grade.
Seabridge has acquired a 100% interest in several North American gold resource
projects. For a breakdown of the Company's mineral resources by project and
resource category please visit the Company's website at
http://www.seabridgegold.net/Resource.htm.
All resource estimates reported by the Company were calculated in accordance
with the Canadian National Instrument 43-101 and the Canadian Institute of
Mining and Metallurgy Classification system. These standards differ
significantly from the requirements of the U.S. Securities and Exchange
Commission. Mineral resources which are not mineral reserves do not have
demonstrated economic viability.
Statements relating to the estimated or expected future production and operating
results and costs and financial condition of Seabridge, planned work at the
Company's projects and the expected results of such work are forward-looking
statements within the meaning of the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by words such as
the following: expects, plans, anticipates, believes, intends, estimates,
projects, assumes, potential and similar expressions. Forward-looking statements
also include reference to events or conditions that will, would, may, could or
should occur. Information concerning exploration results and mineral reserve and
resource estimates may also be deemed to be forward-looking statements, as it
constitutes a prediction of what might be found to be present when and if a
project is actually developed. These forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable at the time they are made, are inherently subject to a variety of
risks and uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements, including,
without limitation: uncertainties related to raising sufficient financing to
fund the planned work in a timely manner and on acceptable terms; changes in
planned work resulting from logistical, technical or other factors; the
possibility that results of work will not fulfill projections/expectations and
realize the perceived potential of the Company's projects; uncertainties
involved in the interpretation of drilling results and other tests and the
estimation of gold reserves and resources; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or
interruptions; the possibility of environmental issues at the Company's
projects; the possibility of cost overruns or unanticipated expenses in work
programs; the need to obtain permits and comply with environmental laws and
regulations and other government requirements; fluctuations in the price of gold
and other risks and uncertainties, including those described in the Company's
Annual Information Form filed with SEDAR in Canada (available at www.sedar.com)
for the year ended December 31, 2006 and in the Company's Form 20-F filed with
the U.S. Securities and Exchange Commission (available at
www.sec.gov/edgar.shtml).
Forward-looking statements are based on the beliefs, estimates and opinions of
the Company's management or its independent professional consultants on the date
the statements are made.
ON BEHALF OF THE BOARD
Rudi Fronk, President & C.E.O.
(TSXV:KSM)
過去 株価チャート
から 5 2024 まで 6 2024
(TSXV:KSM)
過去 株価チャート
から 6 2023 まで 6 2024
