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Drill Results at Seabridge Gold Inc.’s Courageous Lake Project May Lead to Resource Expansion
Initial results from eleven of thirty drill holes from Seabridge Gold Inc.’s (NYSE Amex: SA; TSX: SEA) 2010 drill program at its Courageous Lake gold project, intended to upgrade the classification of inferred gold resources, have encountered higher grades with potential to expand the deposit. The Measured and Indicated gold resource at Seabridge Gold Inc.’s project is 591,000 and 3,648,000 ounces of gold respectively with nearly six million ounces in the Inferred category. A Preliminary Assessment completed in March of 2008 estimated total cash cost of US$590 per ounce, and at a gold price of US$1,000 a cumulative pre-tax cash flow of US$2.27 billion. Additional drilling of the sizeable inferred gold resource, to upgrade or increase the resource at Seabridge Gold Inc.’s Courageous Lake project, should improve the economics and attractiveness for development.
