Canadian Mining Journal

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GOLD RESERVES NEWS Seabee Mine Going Strong, Resources Growing

SASKATOON, Saskatchewan Proven and probable reserves at the Seabee gold mine have been maintained, despite sellin...


SASKATOON, Saskatchewan Proven and probable reserves at the Seabee gold mine have been maintained, despite selling 50,800 oz of gold in 2003, up 22% from the previous year. Owner CLAUDE RESOURCES says reserves are 674,722 tonnes grading 7.48 g/t Au, a 2% increase in tonnage and a 7% decrease in grade.

However, inferred resources are up 39% to 1.97 million tonnes, and up 6% in grade to 8.46 g/t Au. This can feed the 800-tonnes/day mill for three years if the resources can be upgraded to reserves. Over the past 12 years, Claude has successfully converted all its resources to reserves at Seabee.

The Seabee mine is a shear-related lode gold deposit hosted by a multi-phase gabbro of the Laonil Lake intrusive complex. The company is exploring similar structures adjacent to the mine. Other targets of its $1.7-million drilling program include the Porky Lake main zone, the East Pine Lake splay and two structures east of Santoy Lake.

Information about Claude Resources is available at www.renmarkfinancial.com.


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