Project Description Report Filed for Seabridge Gold's KSM Project
2008年4月29日 - 9:00PM
Marketwired Canada
Seabridge Gold (TSX VENTURE:SEA)(AMEX:SA) announced today that the B.C.
Government has formally initiated the review of the Company's 100% owned
Kerr-Sulphurets-Mitchell ("KSM") project, located near Stewart, British
Columbia, Canada. The environmental assessment review and permitting and
licensing process are scheduled to be completed within three years. The KSM
Project Description Report filed by Seabridge can be viewed at
http://a100.gov.bc.ca/appsdata/epic/documents/p322/1209396840189_8e248a8d30d9c69d64febcf2407aab1ecb7
2483d1ec1.pdf.
The Project Description Document envisages a large tonnage operation in the
range of 80,000 to 120,000 metric tonnes per day of ore fed to a flotation mill
which would produce a combined gold/copper/silver concentrate for transport by
truck or pipeline to the nearby deep-sea port of Stewart. Combining production
of all the resources from the Kerr, Sulphurets and Mitchell zones could sustain
a mine life in excess of 30 years at this envisaged throughput rate. Preliminary
open pit plans suggest a waste-to-ore strip ratio of 0.3 to 1 during the initial
10 years of production from the Mitchell zone, increasing to an overall
life-of-mine average of 1.35 to 1 for all three zones combined. These figures
are required for the filing, and are preliminary in nature and subject to change
after further study and no reliance should be placed on their accuracy.
The KSM project represents one of the world's largest undeveloped gold/copper
projects. The following table summarizes 43-101 compliant mineral resources for
all three zones at the KSM project using a 0.50 gram per tonne (g/t) gold
equivalent cutoff grade (see news releases dated January 10, 2008 and February
20, 2008 for details):
KSM Mineral Resource Estimates at 0.50 g/t Equivalent Gold Cutoff Grade
-------------------------------------------------------------
Indicated Mineral Resources
--------------------------------------------------
Zone Gold Copper
Tonnes Gold Copper Ounces Pounds
(000) (g/t) (%) (000) (millions)
-------------------------------------------------------------
Mitchell 734,163 0.69 0.18 16,287 2,913
-------------------------------------------------------------
Kerr 206,272 0.25 0.45 1,651 2,037
-------------------------------------------------------------
Sulphurets 74,655 0.75 0.24 1,798 388
-------------------------------------------------------------
-------------------------------------------------------------
Total 1,015,090 0.61 0.24 19,736 5,338
-------------------------------------------------------------
-------------------------------------------------------------
Inferred Mineral Resources
--------------------------------------------------
Zone Gold Copper
Tonnes Gold Copper Ounces Pounds
(000) (g/t) (%) (000) (millions)
-------------------------------------------------------------
Mitchell 667,421 0.62 0.15 13,304 2,206
-------------------------------------------------------------
Kerr 51,387 0.21 0.45 352 506
-------------------------------------------------------------
Sulphurets 33,636 0.62 0.20 675 147
-------------------------------------------------------------
-------------------------------------------------------------
Total 752,444 0.59 0.18 14,331 2,859
-------------------------------------------------------------
On March 7, 2008 Seabridge management met with the BC Environmental Assessment
Office and the BC Ministry of Energy, Mines and Petroleum Resources in Victoria,
British Columbia to present the KSM Project Description Report. The issuance of
a Section 10 Order under the BC Environmental Act on April 25, 2008 formally
launches the KSM Project into the British Columbia environmental review process.
British Columbia has a harmonization agreement with the Canadian Federal
Government to jointly review major projects being developed in the Province.
During February 2008, Seabridge management met with representatives of the
Nisga'a Nation and a number of First Nations in the area to introduce the
Company and the KSM project.
Seabridge has retained Rescan Environmental Consultants in Vancouver, BC to
complete the baseline environmental studies and the preparation of the
Environmental Impact Assessment Application for the KSM project located in
northwestern British Columbia. Rescan is a well-established firm based in
western Canada with extensive experience in the licensing and permitting of
major resource developments in Canada and around the world.
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, 2007 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.
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