DAILY NEWS Feb 4, 2013 4:27 PM - 0 comments

GOLD: Claude completes shaft deepening to 980 metres

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SASKATCHEWAN – Claude Resources of Saskatoon has completed deepening the shaft at its Seabee gold mine 125 km northeast of La Ronge. It has been deepened from the 600 metres to 980 metres.

The change reduces ore trucking distance by 430 vertical metres, thereby cutting costs. Savings will come from lower diesel consumption, reduced maintenance costs, and improved ventilation. "Overall Seabee Deep and L62 mining costs are expected to improve by as much as 10% per tonne," the company said in a release.

Claude shut down the shaft for 20 days to delay the completion of the project into 2013. During that time mill throughput averaged 700 t/d from the Santoy 8 mine and the upper portions of the Seabee mine. Development and mining at Seabee Deep and L62 continued during the shutdown. Stockpiled ore is now being hoisted, and the company expects to meet its production targets for the quarter.

Claude Resources celebrated its one millionth ounce of gold last August. Please visit ClaudeResources.com for more information.

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