seabridge gold reported drill results from its ksm project up in british columbia. they now have 30 million ounces of gold in m+i, as well as another 8 million ounces of inferred resource. their project is adjacent to snowfield, which means there is now a staggering 57 million ounces of gold in the area. this is near barrick's old eskay mine, so there is good infrastructure, access to cheap power, and a port nearby, all in a politically stable climate.

snowfield is "only" half as big as ksm (so far) but its grades are better. so if seabridge has a market cap of $800 million, the snowfield project should be worth at least $400 million. since both projects still have blue sky, these numbers should continue to grow. this is good news for both companies.

http://biz.yahoo.com/iw/090311/04812...