Gold stocks haven’t been lower or more oversold since March 2020’s pandemic-lockdown stock panic.

The new results are headlined by drill hole BT22-242D, which intersected 3.49 g/t gold over 115.4 metres, including 10.12 g/t gold over 11.4 metres.

Gold's decline comes on the back of a rallying US dollar, which touched a 20-year high.

Seabridge Gold was recognized for its work at the past-producing Johnny Mountain gold mine that operated in the late 1980s.

Benchmark prices in Shanghai have climbed to a premium of more than $43 an ounce over their London equivalent, the highest since 2019.

The Fed’s rate hikes this year have weighed on bullion, with spot prices down 8.6%.

Company has not been directly targeted by Western sanctions imposed on Moscow since it sent thousands of troops to Ukraine in February.