Seabridge Gold announced that its 2025 drilling program at the Snip North Deposit on the Iskut property has produced wide‑interval, consistent gold and copper grades that extend the mineralized zone to a strike length of 2,100 meters, a dip projection of 600 meters and a width of up to 700 meters. The data confirm a large porphyry Cu‑Au system and provide a clearer picture of the deposit’s scale, which is critical for the company’s next step toward a maiden resource estimate.
Chair and CEO Rudi Fronk said the new results give the company confidence that a significant maiden resource estimate could be achieved in early 2026. He highlighted the potential for higher‑grade intrusive sources, citing promising assays from holes SN‑25‑25 and SN‑25‑30. The expansion of mineralization reduces the exploration risk profile and positions Seabridge to attract a joint‑venture partner for the Iskut project.
Seabridge’s cash position was strengthened by a $100 million equity and flow‑through financing completed in February 2025, which brought cash and equivalents to $103.1 million. The financing provides the working capital needed to sustain the 2025 drilling program and to advance both the Iskut and KSM projects toward feasibility studies. The company’s recent capital raise demonstrates investor confidence in its exploration pipeline.
The Iskut property, which includes the former Johnny Mountain Mine and the Bronson Slope deposit, lies adjacent to the company’s flagship KSM project. The proximity of two large, high‑grade porphyry systems enhances Seabridge’s portfolio value and offers a compelling case for a development partner. A legal challenge from Tudor Gold over tunnel authorizations for KSM remains a headwind, but the new Snip North data mitigate some of the project’s risk by confirming a substantial mineralized volume.
The drilling results, coupled with the strengthened cash position, de‑risk the Iskut project and improve its attractiveness to potential partners. By extending the mineralized zone and identifying higher‑grade targets, Seabridge moves closer to a bankable resource estimate, a key milestone that could unlock joint‑venture financing or a sale of a stake. The company’s strategy of advancing projects to a stage where they can attract partners is reinforced, and the new data provide a solid foundation for future feasibility studies and potential development agreements.
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