Courageous Lake (Au)

LOCATION: Northwest Territories, Canada
OPERATOR: Seabridge Gold Inc.

The Courageous Lake project is an advanced gold exploration project located in the Northwest Territories, Canada. Seabridge Gold Inc. (“Seabridge”) has been advancing the Courageous Lake project and, in July 2012, released results of its first preliminary feasibility study for the asset. The study estimated Mineral Reserves of 6.5 million ounces of gold (91 million tonnes grading 2.20 g/t at the FAT deposit) and projected average annual production of 385,000 ounces over a mine life of 15 years. This project covers only 2 km of a greenstone belt that stretches 53 km.

The property also hosts the Walsh Lake Deposit (Inferred Mineral Resource of 4.6 million tonnes grading 3.24 g/t), which is located 10 km south of the larger FAT deposit. Metallurgical testing demonstrated that the Walsh Lake material is free milling. Based on these factors, the Walsh Lake deposit could be mined prior to constructing the processing plant required for the larger, refractory FAT deposit thereby improving the overall economics of the Courageous Lake project.