Seabridge Gold's Stock $SA Could Hit $14, Another Deposit Site Extended

In a report published Friday, Singular Research analyst Jeffrey Briggs reiterated a Buy rating and $14.00 price target on shares of Seabridge Gold, Inc. (USA) , after the company announced positive drilling results in relation to the Deep Kerr deposit, which includes a considerable extension to the current boundary.
Same as in the case of the recently-announced extension of the Mitchell deposit, the expansion of the Deep Kerr deposit represents an “opportunity for continued increase in mineral resource at KSM,” the firm explained.
Given that removing selenium from water would be a potential issue in processing ore at the KSM Project, British Columbia required Seabridge to test a pilot plant before providing it with environmental clearance. The company recently completed the pilot successfully, aided by a Canadian environmental firm.

Deep Kerr

The aforementioned drill hole at Deep Kerr was extended 400 meters below the “previous hole that was near the lower end of the resource as currently defined. This means the new drill hole will provide information that will likely lead to an upgrade of the Deep Kerr resource estimate,” the report concluded.
Shares of Seabridge Gold are up more than 10 percent on Friday trading.