Claude awaits final feasibility for Seabee bet

Results of an underground exploration program on the Seabee gold deposit in northern Saskatchewan have been incorporated in an updated reserve report which will form part of the soon-to-be-completed final feasibility study, Claude Resources (TSE) reports. The 1989-90 program consisted of drifting, raising, bulk sampling and drilling and was designed to confirm the reserve grade as well as upgrade ore reserve categories.

Reserves (proven, probable and possible from all zones) are estimated to be 1.14 million tons grading 0.4 oz. gold per ton, including proven and probable reserves of 795,000 tons averaging 0.42 oz.

Proven reserve in zones 2 and 5 are estimated to be 378,000 tons grading 0.49 oz., with proven and probable reserves in the same two zones estimated to be 660,000 tons averaging 0.45 oz.

The company says reserves are diluted to a minimum mining width of 4 ft. and have been statistically cut to compensate for high-grade assays.

A 4,500-ton bulk sample was taken from the sill drifts and raises in zone 2. Claude says results of the sample confirm the grade of the deposit to be the same as that indicated by the uncut drill-hole information in the area where the bulk sample was extracted.

The Seabee deposit contains an additional preliminary reserve estimate of one million tons, grading in excess of 0.3 oz., the company says.

The Seabee project lies 78 miles northeast of La Ronge. A.C.A. Howe International is preparing the updated reserve report. Cominco Engineering Services is responsible for the final feasibility study, which Claude expects to receive in mid- May.


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