Seabridge Gold

Snowstorm: GEOLOGY

Geology

Although potential targets are hidden under Tertiary cover, the existing data supports outstanding exploration potential. Geological and geochemical evaluations of Snowstorm have documented hydrothermal alteration zones consistent with large Northern Nevada deposit types. Geophysical surveys have confirmed the structural settings which host large Northern Nevada deposit types. Limited drilling has demonstrated that some of the target areas are at a depth amenable to surface exploration and resource delineation.

Multiple deposit models are postulated to be preserved under cover at the intersection of three of Northern Nevada’s most prolific mineral trends – the Carlin Trend, the Getchell Trend and the Northern Nevada Rift Zone. All target models are consistent with deposit styles exposed south of the property and within one of these three trends. Surface exposures on the property are Miocene age (23.7 to 5.3 Ma) volcanic rocks, dominantly basalt, basaltic andesite and rhyolite tuff that postdate gold deposition in the predicted target models. This thin veneer of younger rocks has been penetrated by historical exploration drilling, confirming the presence of host rocks essential for discovery of gold deposits in the projected trends.

Regional geophysical surveys in the area show that the Osgood Mountains continue northeast and are “drowned” by the younger cover rocks on the Snowstorm property. Exploration drilling has confirmed that the Paleozoic stratigraphic setting essential for favourable Eocene age (57.8 to 36.8 Ma) gold deposits like Getchell-Turquoise Ridge (Barrick) and Twin Creeks (Newmont) are present on the property. Seabridge continues to unravel and integrate historical exploration results and has identified several highly specific programs to enhance the understanding of this target. Our goal is to refine the target locations for testing an Osgood Mountains-style gold deposit.

On the east side of the Snowstorm property, an extension of the environment that hosts the Midas deposit (Klondex Gold) has been postulated. Historical exploration in that trend has revealed numerous paleo-hot spring occurrences and an extensive hydrothermal expression. Drilling in this area found the lower Miocene host section to the Midas deposit and interpreted a structural backdrop that could accommodate precious metal veins. A review of these results will identify specific targets for testing.

The Goldstorm Project, acquired in 2019, is in the Northern Nevada Rift (NNR), a geologic feature hosting many high grade gold-silver mines. This mineral trend is a discrete 5 to 30 km wide linear magnetic high which trends 340° for more than 500 km. The NNR is characterized by mafic and felsic volcanic centers associated with crustal extensions between 15.0 and 16.5 million years old. Deposits in the NNR are low-sulfidation high grade epithermal deposits with elevated silver: gold ratios, generally containing around 1.0 to 5.0 million ounces of gold. Examples of such deposits in Nevada include Midas, Hollister and Fire Creek. Vein-filled faults are a common style of ore host, typically containing bonanza grade gold and silver. Gold and silver deposition in these veins can reach 500 meters of vertical extent.