Beaver Dam reserves up Seabright busy drilling

Based on 155 diamond drill holes to date totalling some 33,000 metres, ore reserves at Seabright Resources’s Beaver Dam property have increased to 2,949,412 tons grading 0.27 oz.

This reserve figure, calculated by MPH Consultants, consists of 1,682,102 tons proven and probable, grading 0.27 oz and 1,267,300 tons possible, grading 0.27 oz.

There are five drills currently on the property probing the orebody for further extensions.

The company has processed two bulk samples: 4,000 tons from its Forest Hill property and 2,300 tons from its Beaver Dam property, with metallurgical recovery results in excess of 95% in both cases. A further bulk test of 4,000 tons from each property will be processed to confirm drill-indicated reserves, the company says. At the Moose River property, owned by Seabright’s 85% controlled subsidiary Seabright Explorations and located about 100 km east of Halifax, all 11 holes of a recent drill program intersected mineralization in the Higgins zone.

Geological consultants are in the process of doing a report on the property, says Vice-president Ken MacDonald, adding that a major program is anticipated.

Results from the recent drilling program follow:

Intersection Width Grade Hole (ft) (ft) (oz/au) MR86-01 270.0-280.9 10.9 0.19 MR86-02 110.4-112.1 1.7 2.85

254.0-270.0 16.0 0.19 includes 264.8-270.0 5.2 0.53 MR86-03 426.8-436.3 9.5 0.09

488.4-489.0 0.6 1.19 MR86-04 501.8-504.3 2.5 0.32

558.0-560.6 2.6 1.76 MR86-05 456.6-457.6 1.0 0.90

486.7-488.5 1.8 3.27 MR86-06 256.0-257.0 1.0 0.53 MR86-07 133.0-136.6 3.6 0.59

215.3-219.2 3.9 0.24 MR86-08 299.5-312.9 13.4 0.27

327.7-337.0 9.3 0.08 MR86-09 191.6-199.0 7.4 0.25

288.0-289.5 1.5 1.46 MR86-10 349.0-353.2 4.2 0.30

(not final)

379.8-399.7 1.9 1.84 MR86-11 136.1-137.3 1.2 3.35

198.0-204.0 6.0 0.22

(not final)