Issue link: http://resourceworld.uberflip.com/i/1174544
O C T O B E R / N O V E M B E R 2 0 1 9 www.resourceworld.com 37 of gold, on track to achieve 2019 annual guidance at a mill feed grade of 8.9 g/t gold. Gold recovery was 96.9%. Q2 revenue was $113.2 million on 85,953 ounces of gold sold at a total cost of sales of $83.4 million or $970/oz of gold sold. Earnings from mine operations were $29.8 million. The company achieved an average realized cash margin of $550/oz of gold sold, with a total cash cost of $702/oz of gold sold. Seabridge Gold Inc. [SEA-TSX; SA-NYSE] has received the government go- ahead for its huge KSM Project where an updated Preliminary Feasibility Study esti- mates proven and probable reserves total 38.8 million ounces of gold and 10.2 billion pounds of copper. There have been major improvements in the economic and environmental parameters of KSM through more exploration. Between 2013 and 2016, Seabridge successfully tar- geted higher grade zones beneath KSM's near surface porphyry deposits, resulting in the discovery of Deep Kerr (2013) and the Iron Cap Lower Zone (2014). These discov- eries led to sizeable resource expansions of higher grade material amenable for low cost block cave underground mining. Silver Grail Resources Ltd. [SVG-TSXV; KD7-FSE] reported the discovery of a new mineralized structure on its Fiji property. A recently completed helicopter survey of the northern part of the Fiji property dis- closed a mineralized structure which can be followed uphill for at least 300 metres before disappearing under snow and ice. This new zone appears to have been exposed by retreating icefields. Samples have been sent for assay. If assays are positive and weather conditions allow, the property will be drilled this year. Silver Grail owns the Fiji property jointly with Teuton Resources. The prop- erty abuts to the west and northwest of Auryn Mining's Homestake gold-silver property and is about 28 km southeast of the port of Stewart, BC. Skeena Resources Ltd. [SKE-TSXV; SKREF-OTCQX] has intersected high-grade gold mineralization at its 100%-optioned Eskay Creek property. The 2019 Phase I program has two surface drill rigs in the 21A, 21E and 22 Zones to infill and upgrade areas of inferred resources to the indicated category. Drilling results below are from the 21A Zone. Highlights include: • SK-19-052: 16.52 g/t gold, 73 g/t silver, (17.49 g/t AuEq) over 7.54 metres • SK-19-055: 28.38 g/t gold, 1 g/t silver, (28.39 g/t AuEq) over 5.83 metres • SK-19-057: 17.38 g/t gold, 113 g/t silver, (18.88 g/t AuEq) over 18.50 metres • SK-19-058: 17.93 g/t gold, 15 g/t silver, (18.13 g/t AuEq) over 22.65 metres A 2019 Preliminary Economic Assessment for Eskay Creek is expected to be completed later this year. Skeena also has a 100% option from Barrick Gold Corp. [ABX-TSX; GOLD- NYSE] in the past-producing Snip Mine. From 1991-1999 the Snip Mine produced 1.1 million ounces of gold averaging 27.5 g/t. There is excellent infrastructure, including an airstrip, a new nearby hydro development, and proximity to power and roads. A total of 8,650 metres of an underground drill program was com- pleted in 2017 as well as a 9,583-metre Phase II surface and underground drilling program. Skeena has also completed a Preliminary Economic Assessment on the GJ copper- gold porphyry project. Sky Gold Corp. [SKYG-TSXV; SRKZF- OTC], formerly Sunvest Minerals, reports that Phase One of the Clone Project dia- mond drill program (811 metres in six holes) is now complete and that visible gold was intersected in three intervals in drill hole SCL-19-02, from within the Main H Zone. The project is 20 km southeast of Stewart. Hole SCL-19-01 intersected 85.2 g/t gold over 0.9 metres and SCL-19-02 cut 124.6 g/t gold over 4.1 metres, both within the Main H Zone. Mineralization in the Main H Zone extends for over 300 metres along strike. A Phase Two program is planned for September. Recent ice retreat has exposed new alteration zones and targets, including the prospective H Zone. Surface sampling in 2017 returned 101 g/t gold over 7.5 metres and 245 g/t gold over 1.5 metres, confirm- ing the width and grade of the H Zone. Talisker Resources Ltd. [TSK-CSE; TSKFF-OTCQB] holds the Toodoggone projects located near the Golden Triangle that include the past producing Baker gold/silver project, the Shasta Mine and Baker mill infrastructure and equipment, the Chappelle (Baker and Multinational Mines) property, the Mets Lease and the Bot property. Tudor Gold Corp. [TUD-TSXV; TUC- FSE] is operator of the current drilling program at the joint ventured Treaty Creek Project (American Creek/Teuton Resources) 10 km east of the former Eskay Creek Mine and 70 km north of Stewart. Tudor has seven other prospects in the Golden Triangle: Electrum, Delta, Fairweather, Eskay North, High North, Mackie East and West & Doc and the Orion. See American Creek for more Treaty Creek data. Teuton Resources Corp. [TUO-TSXV; TEUTF; TFE-FSE] is drilling the 100%- owned Del Norte gold-silver prospect situated 30 km east of Stewart. The main target of the program is the A-2 anomaly identified by Geotech during a compre- hensive ZTEM survey flown in 2018. The Geotech anomaly overlies a large and intense EM (electromagnetic) anom- aly defined by an earlier 2005 VTEM survey. Two structures, the LG vein and the K zone, lie close to the anomaly but not within it. Both have returned high gold and silver values in previous drilling. In 2018, the company spent $250,000 on the ZTEM airborne survey to enhance additional property option packages. Teuton, a prospect generator, owns interests in more than 30 properties in the Golden Triangle region. Eight of these properties are currently under option to third parties which has generated over $2.4 million in option payments over four years. Financier Eric Sprott owns 10% of Teuton's shares and plans to buy more. See American Creek above for data on the Treaty Creek joint venture where over $20 million has been spent to date, revealing both high-grade gold-silver and porphyry copper-gold mineralization. n GOLDEN TRIANGLE