Grams To Ounces
October 14, 2010 by staff
Grams To Ounces, Claude Resources Inc. (“Claude” or the “Company”) (TSX-CRJ; NYSE AMEX-CGR) is pleased to announce preliminary results for its third quarter production from its 100 percent owned and operated Seabee Gold Project, Saskatchewan Canada.
For the quarter ended September 30, 2010, Claude processed 62,242 tonnes at 6.76 grams per tonne of ore to produce 12,931 ounces of gold (Q2 2010 to 11,902 ounces of gold from 46,071 tonnes at 8.44 grams of gold per ton). Ounces produced for the period increased by nine percent compared to Q2 2010. Year to date production to 34,054 ounces of gold to rise by almost five per cent over the 32,528 ounces of gold produced for the same period in 2009.
“The Seabee Gold Project continues to work as expected. Santoy With eight mines, Claude second body of ore production in the area Seabee, almost a commercial production decision, Claude is well positioned to execute on expanding its profile production and lowering unit costs in the coming years. In addition, the opportunity to discover the gold systems in the Seabee camp improves as more capital is invested in regional exploration, “said Philip Ng Vice-President, Mining.
The Company maintains its production forecast from 46,000 to 50,000 ounces in 2010. The project was the Seabee Seabee gold production and deposition of Deep Santoy 8 satellite in 2010.
Claude is a public company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and the NYSE, Amex (NYSE AMEX-CGR). The Company is engaged in the exploration and development of mineral reserves and gold resources. The base of the Company’s assets is located entirely in Canada. Its main income-generating asset is the operation Seabee Gold, located in northern Saskatchewan. Since 1991, Claude has produced approximately 915,000 ounces of gold from mining Seabee. The Company also owns 100% of the 10,000 acre Madsen property located in the Red Lake gold camp prolific northwest Ontario and 65 percent working interest in the Amisk Gold property in northern Saskatchewan.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This press release may contain “forward-looking statements” concerning the plans, intentions, beliefs and current expectations of the Company, its directors or its officers with respect to future operations and operating performance of the Company. The words “may,” “should,” “may,” “will,” “intend,” “plans,” “anticipates,” “believe,” “estimate,” “expect” and other expressions similar with respect to the Company or its management, are intended to identify such forward-looking statements. Investors are cautioned that such statements are not guarantees of business activities or future performance and involve risks and uncertainties and that the activities of the Company for future work could differ materially from those forward-looking statements due to various factors. These risks, uncertainties and factors described in documents periodically filed with Canadian regulators, including the Annual Information Form Information Society and the form quarterly and annual MD & Analysis, which can be accessed on SEDAR at www.sedar.com. If one or more of these risks or uncertainties materialize, or should the assumptions underlying forward-looking statements prove incorrect, actual results could differ materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause results to differ materially, there may be other so that the results anticipated, estimated or expected. The Company does not intend, and undertakes no obligation to update these forward-looking statements.
Claude Resources SOURCE INC.
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