(SSR Mining, 12.Dec.2022) — SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) announced results from 377 diamond drill holes completed at the Seabee property in Saskatchewan, Canada, for the September, 2021 to November, 2022 exploration period (the “Exploration Period”). These results build upon, and are subsequent to, the Seabee 2021 Technical Report Summary (the “2021 Seabee TRS”), which highlighted a six-year Mineral Reserve life averaging approximately 96,000 ounces of annual gold production. The life of mine plan in the 2021 TRS was based on 580,000 ounces of Proven and Probable Mineral Reserves calculated using a cut-off grade of 2.5 g/t Au and a 1.8 meter minimum mining width.
Activity during the Exploration Period included both near-mine resource development drilling adjacent to current underground infrastructure at the Santoy Mine Complex (“Santoy”), as well as more regional activity across the Seabee property (Figure 1). Notably, the regional exploration activity included drilling at the Porky Main and Porky West targets, with results to-date returning broad intercepts of near-surface mineralization potentially amenable to open pit mining in the future. Additional regional exploration included the initial delineation of the Shane target, which remains open along strike and is located adjacent to the Santoy Road that connects the mine to the Seabee processing facility.
A total of 279 resource development drill holes were completed at Santoy during the Exploration Period. Santoy is the source of the current production feed for the Seabee processing plant and contributes the entirety of the existing Seabee Mineral Reserves. Exploration activity at Santoy aims to extend existing mineralization, upgrade Mineral Resources to Mineral Reserves, and provide greater confidence in currently defined Mineral Reserves for future mine planning purposes. Drilling focused on areas immediately adjacent to current mine development, with the positive results indicating possible continuity of the mineralization currently being mined and demonstrating potential for Mineral Reserve growth and mine life extensions.