Seabridge Gold to Initiate Iskut Environmental Program with the Support of the Tahltan Central Government
June 28 2016 - 8:00AM
Seabridge Gold (TSX:SEA) (NYSE:SA) announced today
it has initiated a robust environmental program aiming to remediate
areas of historical mining activity at its newly acquired Iskut
property in northwestern British Columbia, including the Johnny
Mountain Mine, a past gold producer.
Seabridge’s planned environmental and
engineering work for this summer is designed to ensure compliance
with existing authorizations and to begin the evaluation and
development of remediation programs to mitigate the impacts of past
mining activity at an estimated cost for this year of $750,000.
This program will include a comprehensive evaluation of best
practices for future remediation on the property, drawing from the
Seabridge environmental team’s experiences at KSM and other North
America sites and input from the Tahltan First Nation and BC
regulatory officials. Work will begin with a general site cleanup
in the vicinity of the Bronson Slope Airstrip. The environmental
work will be completed in conjunction with Seabridge’s planned 2016
exploration program for the property.
Seabridge Gold Chairman and CEO Rudi Fronk
stated: "The Iskut property provides us with two opportunities.
First, we believe this new project offers exceptional potential to
discover new high grade gold deposits. At the same time, this
project offers us the important challenge of addressing the
environmental issues raised by historical mining activity. We take
pride in being a responsible mineral exploration and development
company. Integrating a substantial environmental work plan into
this year’s exploration program sets us on a path to improving site
conditions. Going forward, exploration will go hand in hand with
remediation.”
Chad Norman Day, President of the Tahltan
Central Government (TCG), indicated that the TCG was supportive of
Seabridge’s plans. “We have a strong interest in the remediation of
the Johnny Mountain mine site on our traditional territory. We
expect to work closely with Seabridge to ensure that Tahltan
citizens benefit from this work and that we are kept fully informed
of the progress that is being made in the planned clean-up
programs. During the eight year Environmental Assessment Process
for KSM, Seabridge demonstrated their willingness and openness in
addressing environmental issues and we look forward to continuing
our excellent working relationship with them.”
Seabridge Gold holds a 100% interest in several
North American gold resource projects. The Company’s principal
assets are the KSM and SnipGold properties located near Stewart,
British Columbia, Canada and the Courageous Lake gold project
located in Canada’s Northwest Territories. For a breakdown of
Seabridge’s mineral reserves and resources by project and category
please visit the Company’s website at
http://www.seabridgegold.net/resources.php.
All reserve and resource estimates
reported by the Corporation were calculated in accordance with the
Canadian National Instrument 43-101 and the Canadian Institute of
Mining and Metallurgy Classification system. These standards differ
significantly from the requirements of the U.S. Securities and
Exchange Commission. Mineral resources which are not mineral
reserves do not have demonstrated economic viability.
This news release includes certain
forward-looking statements or information. All statements other
than statements of historical fact included in this release,
including, without limitation, statements regarding remediation,
clean up, compliance with authorizations, improved site conditions
or water quality or other results of the planned or future
environmental programs or regarding the exploration potential of
the Iskut Project are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations
include regulatory issues, remediation costs, availability of
capital and financing, general economic, market or business
conditions, timeliness of government or regulatory approvals and
other risks detailed herein and from time to time in the filings
made by the Company with securities regulators. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise except as otherwise required by
applicable securities legislation.
On behalf of the Board of Directors
Seabridge Gold Inc.
Rudi Fronk
Chairman & CEO
For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292
Fax: (416) 367-2711
Email: info@seabridgegold.net
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