Claude Resources Inc TSX:CRJ announced an updated NI 43-101 mineral resource estimate for its Seabee gold operation in Saskatchewan. The projects now has proven and probable reserves of 352,600 ounces gold, measured and indicated resources of 49,600 ounces and inferred resources of 260,100 ounces.
President/CEO Neil McMillan said, “We are extremely pleased with this reserve and resource growth. The increase in ounces in 2011 demonstrates the potential that exists at the Seabee Gold Operation. The inclusion of the L62 and Santoy Gap deposits into reserves and resources came only six and nine months after their respective discoveries. More importantly these discoveries are in close proximity to current mining infrastructure and will be integrated into an updated life of mine plan anticipated during the third quarter. We are confident that this resource and reserve growth and our $7.5 million, 130,000 metre drill program in 2012 will translate into a significantly expanded production profile at Seabee.”
or Brian Skanderbeg
by Ted Niles