Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) closed its acquisition of the Goldstorm project in Northern Nevada from Mountain View Gold for 25,000 Seabridge common shares, it announced in a news release.
The Goldstorm property sits about 3 kilometers to the east of Seabridge's Snowstorm project , where the company recently launched its initial drill program. Goldstorm encompasses 134 mining claims and 1,160 leased acres. This equates to a total of about 3,900 acres.
The little amount of historical exploration done to date at Goldstorm by other operators identified "a series of northwest-trending veins that showed strong pathfinder geochemistry and highly anomalous gold results," the release noted.
"Snowstorm's 80.3 km of land holdings are strategically located at the projected intersection of three of the most important gold trends in Northern Nevada: the Carlin Trend, the Getchell Trend and the Northern Nevada Rift Zone (see map). Goldstorm is in the Northern Nevada Rift (NNR), a geologic feature hosting many high grade gold-silver mines. This mineral trend is a discrete 5 to 30 km wide linear magnetic high which trends 340° for more than 500 km. The NNR is characterized by mafic and felsic volcanic centers associated with crustal extensions between 15.0 and 16.5 million years old," the company noted.
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