Claude Resources Expands Land Position at Seabee, Consolidates JVs

Claude Resources (TSX:CRJ) has added roughly 3,000 hectares to its Seabee gold operation in northeast Saskatchewan. The company has also consolidated its joint venture agreements with Karoo exploration and Star Minerals.

As quoted in the press release:

The additional 3,000 hectares are located east and north of the Santoy region where the Company is currently expanding production from the Santoy Mine Complex (Santoy Gap and Santoy 8) and conducting 35,000 metres of underground drilling in 2015.

In addition to increasing its land position at the Seabee Gold Operation, the Company purchased its only two joint venture agreements on the property from Karoo Exploration Corp. (“Karoo”) and Star Minerals Group Ltd. (“Star”). The Karoo joint venture agreement, which comprised 65 hectares, was purchased for 73,529 common shares of Claude. The Star joint venture agreement, which comprised 642 hectares, was purchased for 134,664 common shares of Claude. By acquiring these two joint ventures, the Company now owns and controls 100% of the entire gold belt and land package within the Seabee Gold Operation. The closing of the Karoo agreement remains subject to certain conditions which include regulatory approval.

Claude president and CEO, Brian Skanderbeg, said:

The newly staked claims at the Seabee Gold Operation are strategically located contiguous to the Santoy region. The Santoy region has some of the most prospective gold targets in our camp and it is prudent to ensure we control this underexplored region. Along with an expanded land package, we are pleased to have consolidated the property within the two joint venture agreements. Our focus remains on near mine targets at the Seabee Mine and Santoy Mine Complex however, the Star and Karoo claims host gold showings and occurrences that may play a role in our future.

Click here to read the Claude Resources (TSX:CRJ) press release