Seabridge Gold confirms significant copper-gold deposit at Snip North

TORONTO - Seabridge Gold (TSX:SEA) (NYSE:SA), a mining exploration company with a market capitalization of $1.67 billion and an impressive 45.75% year-to-date return according to InvestingPro, announced Tuesday that drilling results from the first three holes at its Snip North target have confirmed a large copper-gold porphyry deposit, with initial findings showing consistent mineralization.

The drilling is part of a 12,000-meter program designed to expand zones discovered in 2024. The company reported that each of the first three holes successfully extended the mineralized footprint of Snip North. With a strong liquidity position reflected in a current ratio of 9.53, Seabridge appears well-positioned to fund its exploration activities, according to InvestingPro data.

The most significant result came from hole SN-25-25, which intersected 729.1 meters of 0.48 grams per tonne (g/t) gold and 0.16% copper, including a higher-grade section of 254 meters of 0.77 g/t gold and 0.31% copper.

Two additional holes also returned notable results. Hole SN-25-26 yielded 340.8 meters of 0.51 g/t gold and 0.11% copper, while hole SN-25-27 produced 267.6 meters of 0.44 g/t gold and 0.15% copper.

According to the company’s press release statement, the mineralized zone currently measures approximately 1,700 by 600 by 600 meters. Seabridge aims to achieve a density of pierce points needed for a maiden resource estimation, which it plans to announce early next year. With the company’s next earnings report due in 6 days and analysts maintaining a Strong Buy consensus, investors seeking detailed financial analysis and additional insights can access more than 30 key metrics and exclusive ProTips through InvestingPro.

The drilling program revealed multiple generations of veining and mineralization with distinct alteration patterns. Coarser-grained sandstone and volcaniclastic units showed more intense alteration and mineralization than finer-grained siltstones.

Seabridge Gold holds a 100% interest in several North American gold projects, with its principal asset being the KSM project, also located in Northwest British Columbia’s "Golden Triangle" region.

In other recent news, Santander Holdings USA has been informed by the Federal Reserve that its updated stress capital buffer requirement will be 3.4% of common equity Tier 1 capital. This adjustment results in an overall CET1 capital requirement of 7.9% for the bank holding company, effective October 1, 2025. As of March 31, 2025, Santander Holdings USA reported maintaining $5.0 billion of excess CET1 capital above this new requirement, supporting its long-term capital efficiency objectives.

Seabridge Gold has launched its 2025 drilling program at the Iskut Project in British Columbia’s Golden Triangle. The program, with a budget of $13.4 million, aims to define copper-gold porphyry mineralization and establish a maiden resource estimation for the Snip North discovery. Additionally, Seabridge Gold has filed a legal response to petitions challenging the Environmental Assessment Office’s decision to grant its KSM project the Substantially Started Designation.

Seabridge Gold also filed a Form 6-K with the SEC for May 2025, which includes routine administrative documents related to corporate governance and shareholder meetings. These filings do not contain any material information affecting the company’s financial position or market operations.

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