Core drilling conducted at Seabridge Gold’s Iskut project site last year is believe to have uncovered the source of the historic Bronson Slope deposit.
While undertaking their 2022 drilling program, the company discovered an unusually large quartz-magnetite breccia pipe.
Breccia pipes are vertical holes filled with broken rocks, which become mineralized over time through hydrothermal eruptions.
Evidence gathered during last year’s activities has confirmed Seabridge’s theory that one such pipe was the source of the Bronson Slope’s gold and copper resources.
In 2023, the company’s drilling program will focus around locating the source of the pipe and utilizing it to increase resource output.
Seabridge has also finalized a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald and Company, and B. Riley Securities.
That agreement will allow Seabridge to sell stock shares totalling up to $100 million via the pair, should they need to raise funds.
