Seabridge Gold



The KSM Project is one of the largest undeveloped gold projects in the world. Proven and probable reserves total 38.2 million ounces of gold and 9.9 billion pounds of copper (see table). For more information, see this fact sheet.

Current Program:

The KSM Project has completed a joint harmonized environmental assessment review as outlined by the British Columbia Environmental Assessment Act and the Canadian Environmental Assessment Act. In February, 2013 Seabridge submitted its EA/EIS Application to the provincial and federal regulatory authorities and the Application was accepted into the formal review process in June, 2013 after meeting the requirements of the screening process. In July, 2014 the project received its Environmental Assessment Certificate from the provincial authorities. Final federal approval was received in December, 2014.

Exploration continues at KSM. In 2013, Seabridge found a new deposit, the Deep Kerr, which has the highest metal values discovered at KSM to date. An initial resource estimate for Deep Kerr released in early 2014 confirmed an inferred resource of 515 million tonnes grading 0.53% copper and 0.36 g/T gold (6.1 billion pounds of copper and 5.9 million ounces of gold). The deposit is ideally situated for cost-effective underground mining and the size and grade compare favourably with the world's best producing copper/gold mines (see news release). A new exploration program began in June, 2014 designed to expand Deep Kerr and search for additional higher grade deposits. In September, 2014 discovery of another higher grade deposit beneath the Iron Cap deposit was announced (see news release). An expanded resource estimate for Deep Kerr and an initial resource estimate for the Iron Cap Lower Zone are expected in the first quarter of 2015.



Courageous Lake

The project's first Preliminary Feasibility Study was released in July 2012 which estimated proven and probable reserves of 6.5 million ounces of gold, an average annual production of 385,000 ounces at a cash operating cost of $780 per ounce and a mine life of 15 years (see news release of July 24, 2012)

Current Program:

The current focus of work at Courageous Lake is to improve its economics by adding higher grade resources and extending mine life. A high-grade gold discovery was made at Walsh Lake in 2012 and subsequent drilling in 2013 increased its size and confirmed its continuity (see news release of May 13, 2013). An initial resource estimate for Walsh Lake was announced in March, 2014 – 4.62 million tonnes of inferred resources grading 3.24 g/T for a total of 482,000 ounces of gold (see news release of March 11, 2014). Metallurgical testing has confirmed excellent recoveries from Walsh Lake material. The 52 km long greenstone belt Seabridge owns has many known gold showings. In 2014, Seabridge will use its mapping, sampling and geophysical data as well as historical drill results to refine the search for additional satellite deposits like Walsh Lake. Seabridge is also proceeding with environmental and engineering programs to advance the project towards permitting and enhance its design.