There should be more drilling and assay reports from the treasure box any day. Company said report from Placer was due end of February.
clauderesources.com
There should also be some updates from SeaBee. They have been doing a lot of underground drilling to delineate and increase reserves as well as exploratory drilling in the SeaBee area.
November 12th, 2003
"Mill throughput, year to date, has met the 550 tonnes per day target despite disruption caused by the shaft extension. Mill throughput is scheduled to be increased to 700 tonnes per day after November 1, 2003.
The Seabee shaft extension project is progressing on plan and will be operational by November 1, 2003. During the month of October, the loading pocket installation and the shaft change over will be completed. The shaft will extend to the 600 metre level and will result in improved operating capabilities and lower operating costs.
Mine development is taking place on the 510 metre and 630 metre levels. Initial plans to access the 650 metre level in 2003 have been postponed as a result of the success achieved on the 510 metre level; the increase in size of the 5106 and 5107 stopes and the success of the diamond drill program on the 325 and 550 levels will lead to further development of the 161 and 162 veins.
With added emphasis on underground drilling at the Seabee mine, an expanded drill program is in progress. Expectations are that drilling success will lead to an increase in the deposit’s mineral resource, creating the potential for a sustainable increase in gold production at Seabee, with minimal infrastructure expenditure.
Oil & Gas
Oil and gas prices continue to outperform those realized in 2002, with average Canadian dollar prices for the nine months ending September 30, 2003 exceeding those in the comparable 2002 period by 31% and 106% respectively.
Exploration
During the third quarter, prospecting and mapping crews were active on a number of properties, including Pigeon Lake, Munro Lake and Jojay in Saskatchewan as well as Tartan Lake in Manitoba. Additionally, Placer continues its work commitment at the Company’s Madsen property.
Work in the Pigeon Lake area (4 kilometres north of the Seabee mine) confirmed the existence of the same host rock package as observed at the West Porky Lake discovery. The presence of elevated gold values in grab samples from this trend warrants follow-up geophysical surveys to refine target location. The Pigeon Lake zone should be drill ready for the winter 2003-04 season.
Prospecting in the Shane-Munro/Santoy Lakes area (east of the Seabee mine) has identified a number of very encouraging mineralized trends. Prospectors discovered several new showings that indicate these vein systems are more continuous than previously suspected. Two targets on the Company’s 100% owned Santoy Lake property will be drilled early in 2004.
Claude is in the process of acquiring a controlling interest in the Jojay property, 100 kilometres northeast of La Ronge. Crews have undertaken some preliminary mapping and prospecting to evaluate the continuity of the known mineralizing system. Significant overburden and swamp has masked this trend. A more rigorous program is planned for next year.
Mapping crews spent approximately six weeks tracing the Tartan Lake mineralized structures to the west. This work revealed several significant gaps in the property’s diamond drill database. Additionally, this crew staked a promising base metal occurrence contiguous with the Tartan property. Late in the quarter, a drill was mobilized to test the potential western extension of the Tartan Lake system and the depth potential of the West Zone. Preliminary results show continuity of structure and returned quite encouraging gold values.
On the Madsen property in the Red Lake camp of northwestern Ontario, Placer Dome continued diamond drilling a number of highly prospective targets, including the Treasure Box, north Russett Lake, Devilliers and Starrett-Olsen zones. Results from the latter two targets have been modestly encouraging. Intersections from the former two have displayed all the elements of a significant mineralized mafic-ultramafic system, including one interval that assayed 17.8 grams per tonne over 4.24 metres. New access road construction and increased staff and logistical support are evidence of Placer Dome accelerating exploration efforts on the Madsen property."
clauderesources.com
There is also some drilling happening on the new Nokomis Lake property.
clauderesources.com
"The Nokomis project is a shear-related intrusive-hosted (tonalite) lode gold system. It hosts a historic mineral resource of 349,110 tonnes grading 6.10 grams per tonne Au (gpt). A scoping study by Kilborn Engineering Pacific Ltd. in 1996 modeled a potentially economic, near surface mineral resource of 100,000 tonnes grading in excess of 13 gpt. Most recently (2000), Eckart Buhlmann, P. Geo., an independent consultant for Pioneer, estimated this mineral resource at approximately 80,000 tonnes grading 10 gpt with an average width of 4 metres."
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