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TICKERS: SEA; SA

Explorer Provides Corporate Update Amid COVID-19 Challenges
News Update

Source:

Seabridge Gold reports that it expects the technical report update on one of its B.C. projects to be completed as scheduled, in 30–45 days.

In a news release, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced how it is moving forward in the wake of the coronavirus pandemic.

For one, the Toronto-based company is switching to virtual interactions by eliminating in-person meetings and business travel and is encouraging employees to work from home. Also, it is considering conducting its annual meeting online so more shareholders may attend and may do so conveniently and safely from their residence.

Seabridge stated that its priority is completing the updated NI 43-101 technical report on its KSM project in British Columbia (B.C.), and it expects the revisions to be done in 30–45 days. "The redesign is expected to reduce the project's footprint while enhancing estimated metal production and improving capital and operating costs," the release noted.

Given the requirement for social distancing and Seabridge's desire to protect its crews during the COVID-19 crisis, the resource explorer is evaluating whether or not to proceed with its planned 2020 drill programs for Iskut in B.C. and Snowstorm in Nevada. It plans to make a final decision in May about whether or not to proceed, when more information about the coronavirus hopefully is available.

In the release, management clarified that "delaying these programs by a year would not impact our obligations or our land holdings, but we remain hopeful that we can proceed this year since we think each of these targets is ripe for a new discovery."

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Disclosure:
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.
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