Seabridge closes Goldstorm acquisition
TSX- and NYSE-listed Seabridge Gold has closed the purchase of the Goldstorm project, in northern Nevada, which enhances its strategic Snowstorm asset where drilling is currently in progress.
Seabridge bought the asset from Mountain View Gold for 25 000 common shares.
The Goldstorm property consists of 134 mining claims and 1 160 leased acres located about 3 km to the east of Seabridge’s Snowstorm property. The Snowstorm drill programme is targeting a Turquoise Ridge/Twin Creeks type of high-grade gold system along a continuation of the Getchell Trend.
Seabridge said on Thursday that it had confirmed that the trend extended into favourable stratigraphy on the Snowstorm property under thin volcanic rock cover. About seven to ten coincident structural and stratigraphic targets would be tested in the initial programme, which the company said should provide enough information to refine targeting for subsequent exploration including further geophysical surveys and drilling.
Snowstorm’s 80.3 km2 of land holdings are strategically located at the projected intersection of three of the most important gold trends in Northern Nevada: the Carlin Trend, the Getchell Trend and the Northern Nevada Rift Zone.
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