SSR Mining (ASX:SSR) shows longevity at Seabee
December 13, 2022SSR Mining has flagged open pit development following confirmation of 31g/t of shallow gold recorded over 1.9m, s part of 337 diamond drill holes at its Seabee property in Saskatchewan, Canada.
The drilling results, taken adjacent to the Santoy underground gold mine, including 29 g/t Au over 2.1m, add to an existing six-year reserve life averaging approximately 96,000 ounces of annual gold production.
Meanwhile, regional exploration at the Porky Main and Porky West targets suggests an open pit scenario for broad intercepts of near-surface mineralisation.
Additional regional exploration included the initial delineation of the Shane target, which remains open along strike and is located adjacent to the Santoy Road that connects the mine to the Seabee processing facility.
The Company said the results indicate possible continuity of the mineralisation currently being mined and demonstrate potential for mineral reserve growth and mine life extensions.
“Building on Seabee’s long history of successfully replacing depletion, drilling activity continues to focus on defining and converting additional Mineral Reserves at Santoy, supporting the potential for mine life extensions at Seabee,” President and CEO Rod Antal said.
“At the same time, exploration has progressed at more regional targets as we endeavor to define a longer-term production pathway for the asset.
“These results from the Shane, Porky Main, and Porky West targets illustrate the significant brownfield growth potential for Seabee and could potentially represent future production opportunities for the mine.
“While still an early-stage opportunity, the broad, near surface intercepts suggest the potential for open pit mining at the Porky targets in the future.
“Given the number of prospective targets at Seabee, we currently expect to expand our exploration program at the mine again in 2023 as we look for ways to aggressively advance these opportunities towards potential development.”
Highlight Results
- SUG-22-605: 28.9 g/t Au over 2.1 meters from 217 meters
- SUG-21-043: 8.3 g/t Au over 8.9 meters from 212 meters, including 31.3 g/t Au over 1.9 meters from 212 meters
Drilling highlights from currently defined Mineral Resource blocks not included in the 2021 Seabee TRS life of mine plan include (all intercepts true width):
- SUG-22-945: 17.7 g/t Au over 3.7 meters from 175 meters
- SUG-22-923: 18.9 g/t Au over 1.9 meters from 155 meters
- SUG-21-402: 6.1 g/t Au over 5.8 meters from 50 meters, including 18.6 g/t Au over 2.0 meters from 55 meters
Price Action
The Company’s ASX-listed shares are $22.19 at Market Open
About SSR Mining
SSR Mining Inc. is a leading, free cacash-flow-focusedold company with four producing assets in the USA, Türkiye, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets. In 2021, the four operating assets produced approximately 794,000 gold-equivalent ounces. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the ASX and SSR on the ASX.
Fundamental Data
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