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UPDATE 1-Claude Resources raises gold resources estimate
March 14, 2012 / 12:42 PM / 6 years ago

UPDATE 1-Claude Resources raises gold resources estimate

March 14 (Reuters) - Precious metals miner Claude Resources Inc said measured and indicated gold resources rose 43 percent as it discovered more gold at its Seabee property in Saskatchewan.

Measured and indicated resources increased 43 percent to 70,700 ounces of gold at 5.35 grams per tonne, helped by gold discovery at the L62 and Santoy Gap deposits.

Measured and indicated resources give an initial estimate of the size of a deposit and serve as a basis for feasibility studies.

The miner found gold at its Santoy Gap property in September last year.

Saskatoon, Saskatchewan-based Claude owns and operates the 14,400 hectare Seabee property, which hosts a number of exploration programs including Seabee Deep, Santoy, Neptune and Trident.

Shares of the company closed at C$1.07 on Tuesday on the Toronto Stock Exchange.

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