{"id":1174881,"date":"2020-03-30T13:28:11","date_gmt":"2020-03-30T19:28:11","guid":{"rendered":"https:\/\/www.mining.com\/?p=1018617"},"modified":"2020-03-30T13:28:11","modified_gmt":"2020-03-30T19:28:11","slug":"seabridge-to-pick-up-3-aces-gold-project-in-yukon","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1174881","title":{"rendered":"Seabridge to pick up 3 Aces gold project in Yukon"},"content":{"rendered":"<p>Seabridge Gold&nbsp;(TSE: SEA) is acquiring the 3 Aces gold project in southeast Yukon from&nbsp;Golden Predator Mining&nbsp;for 300,000 Seabridge shares and an immediate cash payment of C$263,000 as reimbursement for project expenses.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Golden Predator will receive further payments of C$1 million on the confirmation of a 2.5 million oz. gold resource at 3 Aces, with another C$1.25 payable if the resource reaches 5 million oz. gold. <\/p>\n<p>It will retain a 0.5% net smelter royalty return on the project.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> The project does not have an established resource, but 3 Aces does have 300 holes drilled, many returning high-grade gold intervals  <\/p>\n<\/blockquote>\n<\/figure>\n<p>The road-accessible exploration project does not have an established resource, but 3 Aces does have 300 holes drilled, many returning high-grade gold intervals. <\/p>\n<p>Seabridge believes that with further drilling, the Central Core area of the project has the potential for an initial resource with an \u201cexceptional\u201d grade.<\/p>\n<p>\u201cWe think 3 Aces is a worthy addition to the three outstanding exploration opportunities we already own in British Columbia, Nevada and the Northwest Territories,\u201d said Seabridge Gold CEO Rudi Fronk. <\/p>\n<p>&#8220;Golden Predator has done an excellent job of demonstrating the exploration potential at 3 Aces, confirming the project\u2019s positive metallurgy and establishing excellent relationships with local First Nations and communities,&#8221; Fronk said. <\/p>\n<p>&#8220;Their focus has shifted to the much more advanced and permitted Brewery Creek Mine. Our exploration team is keen to get going on 3 Aces, beginning with a review of the extensive data generated by Golden Predator.\u201d<\/p>\n<p>The transaction is subject to final due diligence by Seabridge and approval by regulators.<\/p>\n<p>3 Aces is a district-scale orogenic gold project covering 357 sq. km, with the Central Core area covering 13.5 sq. km. All holes in the Central Core area have encountered high-grade intervals. <\/p>\n<p>Seabridge notes that 37% of the holes drilled at 3 Aces have hit intersections of 5 g\/t gold and higher, with 27% returning grades of 8 g\/t gold and higher.<\/p>\n<p>The property is on the eastern margin of the Selwyn Basin, a thick package of sedimentary rocks extending across the Yukon that hosts several large base metal deposits. <\/p>\n<p>At 3 Aces, discrete quartz veins containing arsenopyrite-pyrrhotite-pyrite and free gold are found within a broad zone of gold-bearing iron carbonate-clay alteration envelopes, which Seabridge will target in its exploration efforts. <\/p>\n<p>The company says a number of gold-rich zones have been discovered on the stratigraphic\/structural contacts at 3 Aces in past drilling.<\/p>\n<p>Seabridge holds several other gold projects: the KSM and Iskut projects near Stewart, B.C.; the Courageous Lake project in the Northwest Territories; and the Snowstorm project in Nevada. <\/p>\n<p>Golden Predator is focused on advancing its past-producing Brewery Creek heap-leach gold project in the Yukon back to production.<\/p>\n<p><em>(This article first appeared in the <a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\" aria-label=\"Canadian Mining Journal (opens in a new tab)\">Canadian Mining Journal<\/a>) <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project does not have an established resource, but 3 Aces does have 300 holes drilled, many returning high-grade gold intervals.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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