Placer drops option on Sask. gold bets

Vancouver-based Placer Dome (TSE) has dropped an option to earn in on two gold properties near Claude Resources’ (TSE) Seabee property in Saskatchewan. Placer Dome will not be continuing an option on Shane Resources’ (VSE) Laonil property where several gold-bearing targets have already been drilled. Held 70% by Shane and 30% by Claude Resources, the property is within two miles of Claude’s new 440-ton-per-day mill which is being constructed on the Seabee claims. Shane says it will attempt to negotiate a farm-out agreement with a new partner.

Placer Dome has also dropped a joint venture deal with Currie Rose Resources (VSE) on Currie Rose’s 10,000-acre Laonil Lake property surrounding the Seabee claims.

As targets outlined so far are estimated to contain less than one millon ounces gold, exploration results did not meet Placer Dome’s objectives, according to Currie Rose Vice-President Rick Walker.

However, as the Seabee orebody is thought to extend on to ground held by Currie Rose, the latter has secured an agreement that will allow it to process any ore produced from Laonil Lake in Claude’s mill. Reserves at Seabee stand at 1.14 million tons of grading 0.40 oz. gold per ton.

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