GOLD: Initial production from Santoy Gap ahead of schedule

SASKATCHEWAN – Claude Resources, based in Saskatoon, reports that initial ore production from the Santoy Gap deposit has occurred ahead of schedule. The deposit is part of the Seabee gold operation 125 km northeast of La Ronge.

In May, development ore from three levels in the eastern block of the Santoy Gap was mined at an average of 125 t/d with a grade of 7.1 g/t Au. Initial longhole production is expected ahead of schedule during Q3 2014 with a commercial rate of between 200 and 300 t/d. Discovery of the deposit was made only 2.5 years ago.

Santoy Gap hosts proven and probable reserves of 266,100 oz of gold in 1.46 million tonnes grading 5.68 g/t, measured and indicated resources of 83,900 oz of gold in 309,400 tonnes grading 8.44 g/t, and inferred resources of 270,800 oz of gold in 1.21 million tonnes grading 6.96 g/t. Claude is conducting a 27,000-metre infill drilling program to provide information for mine design optimization.

The company also said the 390-metre ventilation raise at Santoy Gap has been completed, allowing production to ramp up.

The recent corporate presentation may be read at ClaudeResources.com.