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Canadian Firm to Acquire Yukon Gold Project
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Seabridge Gold will start work on the project with a review of historical data.

In a news release, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced it agreed to acquire Golden Predator's 3 Aces orogenic gold project in the Yukon. The company has termed the project a "high-grade, near surface gold opportunity in an mining-friendly jurisdiction."

For the project, Seabridge will pay Golden Predator 300,000 Seabridge common shares and $263,000 as reimbursement for project-related payments Golden Predator.

When an NI 43-101 compliant mineral resource for 3 Aces reaches 2.5 million ounces (2.5 Moz) of gold, Seabridge will pay Golden Predator $1 million, and when it reaches 5 Moz of gold, the acquirer will pay another $1.25 million. Golden Predator will also hold a 0.5% net smelter returns royalty.

The district scale 3 Aces project consists of 1,734 claims in an accessible part of southeastern Yukon. There, "discrete quartz veins containing arsenopyrite-pyrrhotite-pyrite and free gold are found within a broad zone of gold-bearing iron carbonate-clay alteration envelopes," the release noted.

Past drilling has "encountered a significant number of gold rich zones on the stratigraphic/structural contacts at 3 Aces. By early 2019 the project had completed about 300 holes; 37% of these encountered +5.0 g/t gold intersections and 27% have returned +8.0g/t gold," the company stated.

Seabridge Chairman and CEO Rudi Fronk called 3 Aces a "first rate exploration play with the potential to host a high grade commercially-viable ore body." Additionally, 3 Aces is a "worthy addition" to its existing, exploration projects. . .Golden Predator has done an excellent job of demonstrating the exploration potential at 3 Aces, confirming the project's positive metallurgy and establishing excellent relationships with local First Nations and communities."


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Seabridge Gold. Click here for important disclosures about sponsor fees.
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