Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Canadian Explorer Closes Yukon Project Acquisition
News Update

Share on Stocktwits


Seabridge Gold intends to initiate data collection and analysis on this orogenic gold asset.

In a news release, Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced that its acquisition of the 3 Aces gold project in the Yukon closed.

"3 Aces is a first rate exploration play with the potential to host a high grade commercially-viable ore body," Seabridge Gold Chairman and CEO Rudi Fronk said in the release. "Golden Predator has done an excellent job of demonstrating the exploration potential at 3 Aces, confirming the project's positive metallurgy and establishing excellent relationships with local First Nations and communities."

The Toronto-based company purchased the property from Golden Predator Mining Corp. for a total consideration of 300,000 Seabridge common shares, potential future cash payments totaling $2.25 million and a 0.5% net smelter returns royalty on the project to Golden Predator.

Further, when Seabridge grows the NI 43-101 compliant gold resource at 3 Aces to 2.5 million ounces of gold, it will pay Golden Predator another $1 million and at 5 million ounces, it will pay another $1.25 million.

As for what's next for 3 Aces, Seabridge intends to collect and analyze the data "developed by Golden Predator for the targets in the central core area with a view to initiating an aggressive drill program next year," Fronk indicated in the release.

The orogenic gold 3 Aces project spans about 350 square kilometers, encompasses 1,536 claims and is easily accessible. It is high grade and near surface, the company stated.


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.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Seabridge Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe