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<SEC-DOCUMENT>0000910662-10-000173.txt : 20100419
<SEC-HEADER>0000910662-10-000173.hdr.sgml : 20100419
<ACCEPTANCE-DATETIME>20100419131105
ACCESSION NUMBER: 0000910662-10-000173
CONFORMED SUBMISSION TYPE: 6-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20100419
FILED AS OF DATE: 20100419
DATE AS OF CHANGE: 20100419
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: SEABRIDGE GOLD INC
CENTRAL INDEX KEY: 0001231346
STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040]
IRS NUMBER: 000000000
STATE OF INCORPORATION: A6
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 6-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32135
FILM NUMBER: 10756781
BUSINESS ADDRESS:
STREET 1: 106 FRONT STREET EAST
STREET 2: SUITE 400
CITY: TORONTO
STATE: A6
ZIP: M5A 1E1
BUSINESS PHONE: 416-367-9292
MAIL ADDRESS:
STREET 1: 106 FRONT STREET EAST
STREET 2: SUITE 400
CITY: TORONTO
STATE: A6
ZIP: M5A 1E1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.txt
<TEXT>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of
April 2010
Commission File Number 1-32135
SEABRIDGE GOLD INC.
(Name of Registrant)
106 Front Street East, Suite 400, Toronto, Ontario, Canada M5A 1E1
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ ] Form 40-F [X]
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b): 82-__________
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Seabridge Gold Inc.
(Registrant)
By: /s/Rudi Fronk
-------------
Name: Rudi Fronk
Title: President & C.E.O.
Date: April 19, 2010
<PAGE>
EXHIBIT
Exhibit 99.1 News Release re Seabridge Gold Announces 2010 Program for KSM
issued April 19, 2010.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.txt
<TEXT>
<PAGE>
EXHIBIT 99.1
Seabridge Gold Inc.
News Release
Trading Symbols: TSX: SEA FOR IMMEDIATE RELEASE
NYSE Amex: SA April 19, 2010
Seabridge Gold Announces 2010 Program for KSM
Toronto, Canada - Seabridge Gold Inc. announced today that it plans to spend
approximately $17.5 million this year to advance its 100% owned KSM project. The
main initiatives are: (i) drilling for a potential increase in reserves; (ii)
exploring for additional resources at the new Iron Cap zone; (iii) continuing
optimization work on the project's Preliminary Feasibility Study ("PFS") and
(iv) preparing an Environmental Assessment Application ("EAA") and engaging
Aboriginal Peoples on project development.
Seabridge President and CEO Rudi Fronk noted that the completion of the KSM PFS
"successfully converted most of the project's measured and indicated resources
to proven and probable reserves. However, there remain a number of opportunities
to enhance the value of KSM and we will pursue many of them in the current
year."
This year's objectives include:
o Additional definition drilling intended to convert more of the existing
mineral resources to proven and probable reserves. Opportunities exist at
the Kerr, Sulphurets and Mitchell zones. The objective of the 2010 program
is to increase reserves by 2 to 3 million ounces of gold.
o Resource definition drilling at the Iron Cap zone where drilling by
previous operators identified the potential for a fourth large deposit at
KSM. Seabridge's geologists believe that the Iron Cap zone has the
potential to host an additional 250 to 500 million tonnes of mineralized
material at grades similar to the Mitchell zone.
o Complete for submission KSM's EAA for review by the federal and provincial
regulatory authorities, Treaty Nations, Aboriginal organizations and the
general public. The closer a project is to final permits, the more valuable
the project typically is to a partner or an acquiring company as risks and
lead times to production have been reduced.
o Additional independent engineering work at KSM with the goal of completing
an updated PFS in early 2011. The updated PFS could include engineering
improvements and additional reserves to the extent identified in the
program.
In the PFS, Mineral Reserves for the KSM project were estimated using a gold
price of US$850 per ounce, a copper price of US$2.25 per pound and are stated as
follows (see news release dated March 31, 2010 for details):
<PAGE>
<TABLE>
<CAPTION>
KSM Proven and Probable Reserves
- -------------- --------- ---------- -------------------------------------------- ---------------------------------------
Zone Reserve Tonnes In Situ Average Grades Contained Metal
Category (millions)
- -------------- --------- ---------- -------------------------------------------- ---------------------------------------
Gold Copper Silver Molybdenum Gold Copper Silver Moly
(gpt) (%) (gpt) (ppm) (million (million (million (million
ounces) pounds) ounces) pounds)
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Mitchell Proven 570.6 0.64 0.17 2.95 58.0 11.7 2,101 54.1 73.0
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
Probable 764.8 0.59 0.16 2.93 62.3 14.5 2,722 72.0 105.0
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
Total 1,335.4 0.61 0.16 2.93 60.4 26.3 4,823 126.1 178.0
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
Sulphurets Probable 142.2 0.61 0.28 0.44 101.8 2.8 883 2.0 31.9
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
Kerr Probable 125.1 0.28 0.48 1.26 Nil 1.1 1,319 5.1 Nil
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
Totals Proven 570.6 0.64 0.17 2.95 58.0 11.7 2,101 54.1 73.0
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
Probable 1,032.1 0.56 0.22 2.38 60.2 18.4 4,924 79.1 137.0
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
Total 1,602.7 0.59 0.20 2.58 59.4 30.2 7,024 133.1 209.9
- -------------- --------- ---------- --------- --------- --------- -------------- --------- --------- --------- ---------
</TABLE>
Estimated proven and probable reserves of 30.2 million ounces of gold (1.60
billion tonnes at 0.59 grams of gold per tonne) are derived from estimated total
measured and indicated resources of 38.9 million ounces of gold (2.1 billion
tonnes at 0.57 grams of gold per tonne) including allowances for mining losses
and dilution (see www.seabridgegold.net/KSM-PFS.pdf for details).
National Instrument 43-101 Disclosure
- -------------------------------------
The KSM PFS was prepared by Wardrop, a Tetra Tech Company, under the direction
of Frank Grills, and included the work of other consultants (see news release of
March 31, 2010). The 2010 KSM exploration program will be under the direction of
William E. Threlkeld, Senior Vice President of Seabridge. These individuals are
Qualified Persons under National Instrument 43-101 and have approved this news
release.
Seabridge holds a 100% interest in several North American gold projects. The
Company's principal assets are the KSM property located near Stewart, British
Columbia, Canada and the Courageous Lake gold project located in Canada's
Northwest Territories. For a breakdown of Seabridge's mineral resources by
project and resource category please visit the Company's website at
http://www.seabridgegold.net/resources.php.
All reserve and resource estimates reported by the Corporation were calculated
in accordance with the Canadian National Instrument 43-101 and the Canadian
Institute of Mining and Metallurgy Classification system. These standards differ
significantly from the requirements of the U.S. Securities and Exchange
Commission. Mineral resources which are not mineral reserves do not have
demonstrated economic viability.
This document contains "forward-looking information" within the meaning of
Canadian securities legislation and "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995.
This information and these statements, referred to herein as "forward-looking
statements" are made as of the date of this document. Forward-looking statements
relate to future events or future performance and reflect current estimates,
predictions, expectations or beliefs regarding future events and include, but
are not limited to, statements with respect to: (i) the amount of mineral
reserves and mineral resources; (ii) any potential for the increase of mineral
reserves and mineral resources, whether in existing zones or new zones; (iii)
the amount of future production; (iv) further optimization of the PFS; (v)
completion of and submission of the EAA; and (v) potential for engineering
improvements. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words or phrases
such as "expects", "anticipates", "plans", "projects", "estimates", "envisages",
"assumes", "intends", "strategy", "goals", "objectives" or variations thereof or
stating that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and may be
forward-looking statements.
All forward-looking statements are based on Seabridge's or its consultants'
current beliefs as well as various assumptions made by and information currently
available to them. These assumptions include: (i) the presence of and continuity
of metals at the Project at modeled grades; (ii) the capacities of various
machinery and equipment; (iii) the availability of personnel, machinery and
equipment at estimated prices; (iv) exchange rates; (v) metals sales prices;
(vi) appropriate discount rates; (vii) tax rates and royalty rates applicable to
the proposed mining operation; (viii) financing structure and costs; (ix)
anticipated mining losses and dilution; (x) metals recovery rates, (xi)
reasonable contingency requirements; (xiii) success in realizing further
optimizations and potential in exploration programs and proposed operations;
(xiv) receipt of regulatory approvals on acceptable terms, including the
necessary right of way for the proposed tunnels; and (xv) the negotiation of
satisfactory terms with impacted First Nations groups. Although management
considers these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect. Many forward-looking statements
are made assuming the correctness of other forward looking statements, such as
statements of net present value and internal rate of return, which are based on
most of the other forward-looking statements and assumptions herein. The cost
information is also prepared using current values, but the time for incurring
the costs will be in the future and it is assumed costs will remain stable over
the relevant period.
<PAGE>
By their very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that estimates,
forecasts, projections and other forward-looking statements will not be achieved
or that assumptions do not reflect future experience. We caution readers not to
place undue reliance on these forward-looking statements as a number of
important factors could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates assumptions
and intentions expressed in such forward-looking statements. These risk factors
may be generally stated as the risk that the assumptions and estimates expressed
above do not occur, but specifically include, without limitation, risks relating
to variations in the mineral content within the material identified as mineral
reserves or mineral resources from that predicted, variations in rates of
recovery and extraction; developments in world metals markets, risks relating to
fluctuations in the Canadian dollar relative to the US dollar, increases in the
estimated capital and operating costs or unanticipated costs, difficulties
attracting the necessary work force, increases in financing costs or adverse
changes to the terms of available financing, if any, tax rates or royalties
being greater than assumed, changes in development or mining plans due to
changes in logistical, technical or other factors, changes in project parameters
as plans continue to be refined, risks relating to receipt of regulatory
approvals or settlement of an agreement with impacted First Nations groups, the
effects of competition in the markets in which Seabridge operates, operational
and infrastructure risks and the additional risks described in Seabridge's
Annual Information Form filed with SEDAR in Canada (available at www.sedar.com)
for the year ended December 31, 2009 and in the Corporation's Annual Report Form
40-F filed with the U.S. Securities and Exchange Commission on EDGAR (available
at www.sec.gov/edgar.shtml). Seabridge cautions that the foregoing list of
factors that may affect future results is not exhaustive.
When relying on our forward-looking statements to make decisions with respect to
Seabridge, investors and others should carefully consider the foregoing factors
and other uncertainties and potential events. Seabridge does not undertake to
update any forward-looking statement, whether written or oral, that may be made
from time to time by Seabridge or on our behalf, except as required by law.
ON BEHALF OF THE BOARD
"Rudi Fronk"
President & C.E.O.
For further information please contact:
Rudi P. Fronk, President and C.E.O.
Tel: (416) 367-9292 o Fax: (416) 367-2711
Email: info@seabridgegold.net
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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