SSR Mining Inc. provides an update on its exploration activities and results at its Marigold mine in Nevada, U.S., and Seabee Gold Operation in Saskatchewan, Canada for the period from August 1, 2017 to September 30, 2018 .
At the Seabee Gold Operation, confirmation of a discovery at the Santoy Gap hanging wall (“HW”) is expected to define new gold Mineral Resources when we report our Mineral Resources and Mineral Reserves estimates for year-end 2018. Drill results at Santoy Gap HW include:
Drillhole SUG-18-622 intersected 25.6 g/t gold over 4.1 meters true width; and
Drillhole SUG-18-612 intersected 12.3 g/t gold over 4.8 meters true width
Also at the Seabee Gold Operation, infill drilling at Santoy 8A is expected to convert Inferred Mineral Resources to the Indicated category when we report our Mineral Resources and Mineral Reserves estimates for year-end 2018. Drill results at Santoy 8A include:
Drillhole SUG-18-941 intersected 11.2 g/t gold over 18.5 meters true width; and
Drillhole SUG-18-943 intersected 14.1 g/t gold over 7.0 meters true width; and
Drillhole SUG-18-913 intersected 12.2 g/t gold over 7.0 meters true width.
Infill drill results for the Red Dot area at the Marigold mine include:
Drillhole MRA6626 intersected 3.4 g/t gold over 71.6 meters intersected width, including 8.9 g/t gold over 25.9 meters intersected width; and Drillhole MRA6647 intersected 1.2 g/t gold over 185.9 meters intersected width, including two higher grade intervals of 8.8 g/t gold over 6.1 meters, and 3.6 g/t gold over 32.0 meters.
Paul Benson, President and CEO said, “Our exploration investments at Seabee and Marigold continue to yield significant results. Importantly, results at Seabee continue to confirm the strong prospectivity and long-life nature of the Santoy mine. At Marigold we are also encouraged by results from drilling at Red Dot and Mackay, as we look to continue our long-term track record of replacing and growing reserves concurrent with the assessment of an expansion in mid-2019. Our exploration programs are a key driver of value and growth for our shareholders, and continue at full pace as we move into the end of the year.”
Seabee Gold Operation, Canada
At the Seabee Gold Operation, total year to date diamond drilling includes 35,258 meters from underground in 104 holes and 15,390 meters from surface in 61 holes. Recent results increase confidence in the continuity of gold mineralization at Santoy Gap HW (see Figure 1). Drilling during the third quarter at Santoy Gap HW included results from 30 drill holes. These holes, along with exploration results since September 2017, have provided clarity to the controlling structure along with continued high grade gold intercepts. These are found on the footwall side of an S-folded attenuated granodiorite intrusion that dips and plunges in a similar manner to the Santoy Gap deposits. On the 46 level, as shown in Figures 2 and 3, this mineralized zone is located 100 meters from existing infrastructure, and can be accessed easily.
We expect this new discovery at Santoy Gap HW to contribute new, additional Mineral Resources when we report our Mineral Resources and Mineral Reserves estimates for year-end 2018.
At Santoy 8A we completed 72 holes in the Exploration Period towards converting Inferred Mineral Resources to Indicated Mineral Resources, and this work is on-going. Results to date have been positive and increase our confidence that the majority of the Santoy 8A area that we have drilled will be upgraded in classification providing additional Mineral Reserves at year-end 2018.
At the early-stage Fisher project our objective is to discover a new zone with Inferred Mineral Resource potential. Work during 2018 has comprised mapping, prospecting, soil and overburden sampling, and drilling of 18 holes for a total of 10,416 meters. Results from the prospecting and drilling have identified new gold bearing quartz vein shear zone exposures, while the first pass drill results have yielded anomalous gold results. The widespread nature of the gold occurrences at Fisher and their geologic similarities to the Seabee and Santoy mines reinforces our view of prospectivity of this extensive property package. Drilling is presently underway on these new targets.
Marigold mine, U.S.
At the Marigold mine, total year to date drilling includes 72,017 meters primarily focused on Red Dot and Mackay with the objective to convert Mineral Resources to Mineral Reserves. During the third quarter at Red Dot and Mackay, we received results from 44 holes that together with earlier drilling, increases our confidence that a portion of the Red Dot Inferred Mineral Resources will be upgraded at year-end 2018 (see Figures 4, 5 and 6). If the current Inferred Mineral Resources upgrade work is successful, the upgraded Mineral Resources will be subject to additional geotechnical drilling and engineering during the first half of 2019 with the goal of declaring a Mineral Reserve at Red Dot and also an updated mine plan by mid-year 2019.
About SSR Mining
SSR Mining Inc. is a Canadian-based precious metals producer with three operations, including the Marigold mine in Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada and the 75%-owned and operated Puna Operations joint venture in Jujuy, Argentina. We also have two feasibility stage projects and a portfolio of exploration properties in North and South America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.
