Land, Location, and Climate

The property 100 %-owned by Seabridge is a collection of mineral leases and mining claims that trend north-south over approximately 54 km covering the length of the CLGB.  These land holdings are 50,228 hectares made up of:

  • 3 Federal Mining Leases (989.06 ha)
  • 1 Federal Claim, lease request in process (983.00 ha)
  • 76 Territorial Leases (42,371.44 ha)
  • 8 Territorial Claims, lease request in process (5,884.00 ha)
  • 1 Territorial Claim (0.95 ha)

The core Mining Leases were acquired by Seabridge through an agreement with Newmont Canada Ltd. (51%) and Total Resources (Canada) Ltd. (Total) (49%) in 2002. The Mining Leases are encumbered by royalty agreements and debentures registered in favor of Newmont Canada Ltd. and Total. The property includes the past gold producing Salmita Mine operated by Giant Yellowknife Mines and the Tundra mine operated by Royal Oak Mines.

The Courageous Lake Property is 240 km northeast of Yellowknife NWT, Canada.  It is situated along the shores of Mathews Lake, between the larger Courageous Lake to the north and MacKay Lake to the south.  Coordinates for the center of the deposit are about 486,700 East and 7,109,600 North (NAD83 Universal Transverse Mercator).  Access to the project is by fixed wing aircraft or helicopter between February and April.  A 35 km spur road can be constructed to link with the Tibbitt to Contwoyto winter road.

The site is characterized by undulating hills to the west and flatter terrain to the east with associated tundra vegetation. Low-lying marshy areas connect open lakes in the tundra and subdued rounded rock outcrops surround these bodies of water.  At nearly 640 North, temperatures are often below freezing but between late May and August +200C temperatures are common. Winter temperatures can be less than -500C over short periods and gale-force winds are not uncommon.