Claude bumps resource at Seabee

The Seabee gold mine in northern Saskatchewan replaced its reserves and outlined a significantly larger inferred resource in 2004.

Owner Claude Resources (CRJ-T) announced that a reserve audit by consulting firm A.C.A. Howe International returned an estimate of 674,722 tonnes grading 7.5 grams gold per tonne. At year-end in 2002, the mine had 661,200 tonnes grading 8 grams.

Resource drilling at Seabee outlined additional resources outside the reserve blocks. The inferred resource now stands at 2 million tonnes grading 8.5 grams gold per tonne, up from 1.4 million tonnes at 8 grams at the end of 2002.

The company has budgeted $1.7 million for exploration on its land package surrouunding Seabee, including 20,000 metres of drilling to investigate exploration targets at West Porky, the Porky Lake anticline, the East Pine Lake fault splay, and areas east of Santoy Lake.