Iskut is a district scale property in a broad northwest trending hydrothermal alteration zone spatially associated with regional faults and intrusions. The area includes the past producing Snip and Johnny Mountain gold mines and the Bronson Slope gold-copper resource. The Property and surrounding areas are underlain by stratified rocks of the Upper Triassic Stuhini Group, Lower Jurassic Hazelton Group and early Jurassic intrusions. This area is bounded on the southwest by the Sky Fault System, a regional fault system interpreted as a major thrust fault. Geological architecture at Iskut is nearly identical to the KSM property.
Seabridge’s initial exploration efforts at Iskut evaluated historical gold occurrences and merged these mineral occurrences into a unifying geological model. That model showed the Iskut property contained the characteristics of high and intermediate sulfidation epithermal systems directly related to gold-copper porphyry hydrothermal systems. Exploration discovered an untested lithocap, the hydrothermal alteration indicative of buried porphyry systems, at Quartz Rise. Initial work in the Quartz Rise Lithocap focused on the discovery of a high sulfidation epithermal precious metal deposit, but results showed that the lithocap had been deeply eroded. Drilling results of the lithocap encountered veined and altered intrusive rocks characteristic of a gold-copper porphyry occurrence. Due to glacial erosion, the source intrusion for the lithocap can be tested from the surface.