KSM (Kerr-Sulphurets-Mitchell): HIGHLIGHTS
- A new 43-101 compliant resource calculation, released in January 2010, raised estimated measured and indicated resources to 38.9 million ounces of gold and 10.0 billion pounds of copper.
- A Preliminary Feasibility Study (PFS) released March 31, 2010 estimated proven and probable reserves at 30.2 million ounces of gold, 7.0 billion pounds of copper, 133 million ounces of silver and 210 million pounds of molybdenum.
- A new NI 43-101 compliant resource calculation, released in February, 2011, estimated measured and indicated resources at 45.3 million ounces of gold, 11.9 billion pounds of copper, 256 million ounces of silver and 291 million pounds of molybdenum.
- An updated PFS released May 2, 2011 increased estimated proven and probable reserves to 38.5 million ounces of gold, 10.0 billion pounds of copper, 214 million ounces of silver and 257 million pounds of molybdenum.
- A new NI 43-101 compliant resource estimate released in February 2012 reported measured and indicated resources totaling 49.0 million ounces of gold, 12.7 billion pounds of copper, 261 million ounces of silver and 304 million pounds of molybdenum (see news release).
- An updated PFS released on May 14, 2012 reported reserves of 38.2 million ounces of gold, 9.9 billion pounds of copper, 191 million ounces of silver and 213 million pounds of molybdenum (see news release). The new PFS includes engineering changes designed to increase the production rate, facilitate permitting and enhance economics. NPVs, IRRs and capital paybacks substantially improved over the 2011 PFS. Base case life of mine cash operating costs fell significantly to $141 per ounce of gold produced (see executive summary).
All disclosure of a scientific or technical nature was prepared by, or under the supervision of, William E. Threlkeld (Licensed Registered Geologist #790 in the State of Washington), a Vice President of Seabridge. Mr. Threlkeld is a "Qualified Person" under National Instrument 43-101.
