This is from an interview by The Gold Report (TGR) of Matt Badali (MB).

http://www.marketoracle.co.uk/Article19699.html

MB: Seabridge Gold has been on an absolute tear lately. Their recent pre-feasibility study turned their resources at their KSM deposit —for Kerr-Sulphurets-Mitchell—in British Columbia into reserves. It's something like 30 million ounces of gold in reserves, about one-third of Newmont's total reserves. It has an enormous amount of fairly low grade gold—plus copper and I think a little silver.

Seabridge knows how much of the resource is economic and at what gold price. It's economic now, but the capital costs are high. And it's fairly remote, so whoever decides to develop this will have to spend some money on it up front. As far as I am concerned, though, the bull market in gold is going to do nothing but help Seabridge, because the higher gold goes, the faster they can recover their capital costs.

I've been up to this deposit; and what's really amazing is that Silver Standard Resources Inc. (TSX:SSO;NASDAQ:SSRI) owns the adjacent property, Snowfield. Silver Standard is developing some other mines right now; so they're not doing much more than drilling Snowfields. It's higher grade ore than Seabridge's, but it's a little trickier because it is up on top of the mountain. But it is becoming an absolutely enormous resource in its own right.

TGR: Is it bigger than Northern Dynasty?

MB: Northern Dynasty's Pebble deposit has about 63 million ounces of resource at the same grade as KSM. They're two monsters, but when you look at KSM and Snowfield together, I really think it's the largest undeveloped gold project in North America. It's just gigantic. Snowfield adds another 19.7 million ounces of resource to KSM's 49 million ounces of resource. That's nearly 70 million ounces of gold…without going into the silver, copper and molybdenum.

The footprint is unbelievable. There's an area called Iron Cap, off to the side of Seabridge's Mitchell deposit. They haven't even drilled it yet. You fly in there in a helicopter and the side of the mountain is stained green from the copper. The copper and gold are mineralized together, so wherever there is green there is also gold. I think as you see Snowfield develop, somebody will come in and make an offer for the whole thing. It's just too big for somebody like Barrick Gold Corporation (NYSE:ABX;TSX:ABX)or Newmont Mining Corp. (NYSE:NEM) not to own.