en.Wedoany.com Reported - Seabridge Gold is advancing its portfolio of large-scale gold and gold-copper projects in Canada. Its flagship KSM project in British Columbia is the world's largest undeveloped gold project by reserves and resources, and the third-largest undeveloped copper project globally. An updated preliminary feasibility study shows proven and probable reserves of 47.3 million ounces of gold and 7.3 billion pounds of copper over a 33-year mine life. The project has completed a joint unified environmental assessment process and received a "substantial start" designation in July 2024, extending the validity of environmental approvals for the project's lifespan.
In April of this year, British Columbia designated KSM as a priority project. The company also reported the first resource estimate for the Snip North discovery at the Iskut property, now renamed the Bronson Corridor project. The initial estimate delineated over 9 million ounces of inferred gold resources, along with significant copper and silver resources. The company continues to advance permitting work related to the Mitchell Treaty Tunnels, a major infrastructure component of the KSM development plan.
Rudi Fronk, Chairman and CEO of Seabridge Gold, said in an interview during the 2026 Prospectors & Developers Association of Canada (PDAC) convention that the company's guiding principle since its inception has been to build option value and leverage gold prices by increasing underground gold ounces at a faster rate than share dilution. KSM remains central to this strategy due to its scale and long-term development potential. The company is also aggressively pushing KSM through environmental reviews and early infrastructure work, aiming to de-risk the project for potential development partners. However, KSM's scale exceeds the company's own construction capabilities, requiring over $6 billion in investment to bring it into production. The company's current priority is to find a major mining partner capable of financing and building a project of KSM's size.
Fronk noted that stronger metal prices have significantly improved the environment for potential partnerships and project financing. With gold prices near $5,000 per ounce and copper around $6 per pound, major mining companies are generating substantial cash flows and can once again focus on large-scale projects. The Bronson Corridor discovery reinforces the company's long-term approach to adding value through exploration and resource growth. Snip North has been identified as a large deposit, extending over 2 kilometers in length, 500 to 600 meters in width, and approximately 500 to 600 meters in vertical depth. This property has the potential to become another significant district-scale system within the company's broader portfolio.
Regarding the regulatory environment in British Columbia, permitting work faces challenges, and the involvement of Indigenous groups in the permitting process adds complexity. After the company received the "substantial start" designation, the Skii km Lax Ha Nation challenged it, claiming the company did not properly consult and engage with them during the review process. Fronk stated that developing guidelines on what constitutes adequate consultation and engagement would be helpful. The company's environmental assessment process took over six years, from its initiation in 2008 to receiving environmental approval in 2014. Fronk believes that establishing a permitting authority or lead agency to ensure regulatory bodies grant permits on time could help reduce delays. He also noted that federal involvement remains important, but a unified review structure could provide the best outcome for developers of large-scale projects.
