Seabridge Gold, Inc. (USA) (SA) is expecting Canadian government approval in November for its major KSM Project, according to Chairman and CEO Rudi Fronk. He was speaking at the Canaccord Global Resources Conference 2014 in New York City, held at the New York Palace Hotel.
Fronk acknowledged that Seabridge Gold had 45 million ounces of reserves by the end of 2013, which he claims places the company among the top 10 gold companies in the world, measured by reserves.
FOR THE LASTES TWST METALS AND MINING REPORT CLICK HERE.
Seabridge Gold’s focus is on its KSM Project in Northern British Columbia, which it acquired in 2000 and wholly owns. Fronk called it “the largest undeveloped gold deposit in the world” by reserves. KSM has proven and probable reserves of 38.2Moz gold plus 10B lbs. copper, Fronk said.
The KSM operations at the site will center on its Deep Kerr core zone, which is projected to generate 515 million tons of copper and gold, Fronk said. The inferred resource grading is 0.53% copper and 0.36 g/T gold. Deep Kerr’s grades compare favorably with some of the world’s largest most profitable, operating copper/gold mines, Fronk said.
If Canada approves, drilling on the high-grade Deep Kerr deposit will commence this year and is expected to add “size, grade and reliability to resource estimates,” Fronk said. The company has $16M committed for follow-up drilling at Deep Kerr and to test other potential higher-grade core targets. “I think what’s really exciting is the value we’re unlocking through additional exploration,” Fronk said.
Fronk said that the reserve grades at KSM are similar to mines operated profitably by major producers at today’s metal prices. Total costs — inclusive of initial capital, sustaining capital, operating costs and closure costs — are estimated at less than $700 per ounce of gold produced, Fronk said.
The company’s environmental assessment for KSM was approved by British Columbia at the end of July, and the company also has agreements with local tribes and early construction permits in place, Fronk said.
FOR THE FULL PRESENTATION, CLICK HERE.
Randall Oliphant, Executive Chairman of New Gold Inc. (USA) (NYSEMKT:NGD), Presents at Canaccord Global Resources
October 17, 2014
Randy Smallwood, President and CEO of Silver Wheaton Corp. (USA) (SLW), Presents at Canaccord Global Resources
October 16, 2014
Patrick F.N. Anderson, CEO of Dalradian Resources Inc (TSA:DNA), Presents at Canaccord Global Resources in NY
October 17, 2014
Vic Richey, Chairman and CEO of ESCO Technologies Inc. (ESE), Presents at Canaccord Global Growth Conference
August 14, 2014
Doug Baker, Jr., Chairman and CEO of EcoLab Inc. (ECL) Presents at Canaccord Global Growth Conference
August 15, 2014
