Design of Tailing Management Facility and Water Storage Dam at KSM Receives Vote of Confidence from Independent Geotechnical ...
April 11 2016 - 7:00AM
Seabridge Gold (TSX:SEA) (NYSE:SA) announced today its Independent
Geotechnical Review Board (the Board) has completed its first
review of the KSM Project’s Tailing Management Facility (TMF) and
Water Storage Dam (WSD) and concluded the designs are appropriate.
The Board was established in January 2015 to
independently review and to provide expert opinion and oversight on
TMF and WSD with a focus on their structural stability and
integrity throughout the design, construction, operation and
closure of the project.
The Board has unimpeded access to all technical
data necessary to enable them to assess KSM's TMF and WSD on an
ongoing basis, and to ensure these structures meet internationally
accepted standards and practices which effectively minimize risks
to employees, the environment and local communities.
The initial Board review of Seabridge Gold’s TMF
and WSD design was conducted between March 9 and 12, 2015 and was
developed to answer five questions: (1) Are dams and structures
located appropriately; (2) Are dam sections, materials,
construction methods and sequencing appropriate for the site; (3)
What are the greatest design, construction and operating risks; (4)
Are the facilities designed to operate effectively, and: (5) Are
the facilities designed to be safe? The Board concluded that
it was satisfied with the project’s designs and responded
favourably to all five questions. Additionally, the
Board presented a series of recommendations for Seabridge to
consider during the ongoing engineering design of TMF and WSD as
development continues.
Seabridge Gold Chairman and CEO Rudi Fronk
stated "We are pleased that the Board, which is a voluntary
undertaking on our part, was impressed with the practical and
robust solutions that have been selected for tailing and water
management at KSM and have concluded that the designs are
appropriate for the project. We look forward to the Board’s
continued involvement as they fulfil their important role in
providing oversight of the KSM Project.”
Dr. Andrew Robertson, the Chairman of the Board,
said “We were impressed with the quantity and level of detail and
information presented by Seabridge and its technical team on the
project’s design and we appreciated the insightful and frank
discussions that occurred during our first meeting. We look
forward to future meetings as we further develop the Board’s
oversight role in the Project.”
Over the next several weeks, the results of the
Board’s first report will be shared with the Government (Federal,
Province and the State of Alaska), aboriginal groups, including the
Nisga’a Nation, the Tahltan Nation, the Tsetaut Skii km Lax Ha, the
Gitanyow Nation and Gitxsan Nation, and other stakeholders who
participated in the environmental assessment of the
project.
Seabridge Gold holds a 100% interest in several
North American gold resource 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
reserves and resources by project and 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 news release includes certain
forward-looking statements or information. All statements other
than statements of historical fact included in this release,
including, without limitation, statements regarding mineral
reserves and resources of the Company and the potential economic
benefits of the Project are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations
include regulatory issues, market prices, availability of capital
and financing, general economic, market or business conditions,
timeliness of government or regulatory approvals and other risks
detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.
ON BEHALF OF THE
BOARD
"Rudi Fronk" Chairman & CEO
For further information please contact:Rudi P.
Fronk, Chairman and CEOTel: (416) 367-9292 · Fax:
(416) 367-2711Email: info@seabridgegold.net
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