Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
At least one contractor that had recently arrived for exploration work at Seabridge Gold’s (TSX: SE; NYSE: SA) 3Aces project in Canada’s Yukon territory has tested positive for covid-19.
Three other individuals came into close contact with the individual but had subsequently tested negative for the virus using rapid antigen testing. As per government and company protocol, all persons have now self-isolated on-site while they await laboratory-based PCR test results and are said to remain in good health.
Seabridge says exploration work will continue at the site while it is monitoring the situation closely.
The news comes as the Yukon government reported 12 new cases on June 15, bringing the active territorial case count to 33
The news comes as the Yukon government reported 12 new cases on June 15, bringing the active territorial case count to 33.
The 2021 exploration program at 3Aces started field activities on June 7 with line cutting to support a geophysical survey. Work began in the southern part of 42-line kilometres, working upslope as the snow conditions improved.
Surveying of a CSAMT geophysical program will start shortly. The program is designed to build a 3-D earth image to integrate with historical drilling data. The aim is to expand high-grade gold targets and detect new targets for initial drill testing.
After in-depth interpretation and integration of the new data, combined with historical data, Seabridge expects to drill-test priority targets later in the year.
Seabridge acquired 3Aces from Golden Predator Mining in May last year for 300,000 common shares and future cash payments totalling $2.25 million.
