Trading Symbols: TSX: CRJ; OTCQB: CLGRF
Highlights:
- New record quarterly gold production of 21,067 ounces, an 86%
increase over Q1 2014
- Q1 2014 mill head grade of 10.17 grams per tonne, a 77%
increase over Q1 2014
- Santoy Gap ramp up on pace to achieve 500 tonnes per day
- Arnold Klassen joins Board of
Directors
SASKATOON, April 6, 2015 /CNW/ - Claude Resources
Inc. ("Claude" and or the "Company") achieved record gold
production of 21,067 ounces during the first quarter of 2015 at its
100% owned and operated Seabee Gold Operation in Saskatchewan, Canada. This surpassed the
previous record of 20,614 ounces of gold set during the third
quarter of 2014. The strong first quarter represents an 86%
increase in gold production compared to the first quarter of 2014.
During the quarter, the Company milled 67,249 tonnes at 10.17 grams
of gold per tonne representing a 4% and 77% increase from the first
quarter of 2014, respectively. Over the last four quarters, the
Company has produced 72,707 ounces of gold.
To date, Santoy Gap ramp up is on pace to achieve its budget of
500 tonnes per day in 2015. During the first quarter, Santoy Gap
averaged 432 tonnes per day at approximately 8.33 grams of gold per
tonne. The average grade from the Santoy Gap was 9% higher than
overall reserve grade but was consistent with reserves in that
section of the ore body. During the quarter, the L62 deposit
averaged 315 tonnes per day at an average grade of 12.71 grams of
gold per tonne. While tonnes were consistent with budgeted
throughput, grades were higher than budgeted. First quarter
production was also positively impacted by the milling of in-stope
ore that was developed during the fourth quarter of 2014. For the
remainder of the year, the Company forecasts the average head
grades to be more in-line with mineral reserve grades.
"We continue to achieve excellent results from both the L62 and
Santoy Gap deposits with higher than budgeted grades and steady
production tonnage," stated Brian
Skanderbeg, President and CEO. "Our momentum from 2014 has
carried over into what is typically our most challenging time of
year. Our ability to set a new production record and complete our
winter re-supply on time and below budget is testament to the
quality of our ore bodies and people. With a strong start to 2015,
we are confident that we will meet or exceed our production and
cost guidance."
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Production
Highlights
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Q1
2015
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Q1 2014
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Change
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Seabee Gold
Mine
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Tonnes
milled
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28,352
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37,036
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-23%
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Head grade (grams per
tonne)
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12.71
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7.31
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74%
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Produced gold
(ounces)
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11,093
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8,285
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34%
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Santoy Mine
Complex
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Tonnes
milled
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38,897
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27,334
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42%
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Head grade (grams per
tonne)
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8.33
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3.66
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128%
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Produced gold
(ounces)
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9,974
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3,059
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226%
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Total tonnes
milled
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67,249
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64,370
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4%
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Average head grade
(grams per tonne)
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10.17
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5.76
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77%
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Recovery
(%)
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95.8
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95.1
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1%
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Total gold
produced (ounces)
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21,067
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11,344
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86%
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Total gold poured
(ounces)
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19,659
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10,829
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82%
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Total gold sold
(ounces)
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17,300
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10,865
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59%
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Mr. Arnold Klassen Joins Board of Directors
The
Board of Directors (the "Board") announces that Mr. Arnold Klassen has joined the Board. Mr. Klassen
is a Chartered Accountant and Certified Public Accountant and has
over 35 years of experience in accounting, audit and tax, with over
30 years of experience in the mining industry. Mr. Klassen is
currently President of AKMJK Consulting Ltd., a private consulting
company, and also serves as a director on the boards of Lake Shore
Gold Corp. and Northern Superior Resources Inc. Mr. Klassen was
previously the Vice President of Finance for Dynatec Corporation
from 1988 to 2007 (a TSX listed company from 1997 to 2007) and the
Vice President of Finance with the Tonto Group of Companies from
1982 to 1998. Prior to his position with the Tonto Group of
Companies, Mr. Klassen spent seven years with KPMG. Mr. Klassen
holds a degree in Commerce from the University
of British Columbia and has obtained the Institute of
Corporate Directors ICD.D designation.
"With over 35 years of accounting and mining related experience,
Mr. Klassen will be a great addition to our Board," stated
Brian Booth, Chair of the Board.
"His business acumen will play an important role as we continue to
grow and build a stronger Company."
Release Date for Q1 Financial and Operating
Results
Further information regarding Claude's first
quarter operating and financial results will be released on
May 7, 2015 prior to market open. The
Company will also conduct a conference call and webcast following
the news release. Specific details of the conference call and
webcast will be announced shortly.
Claude Resources Inc. is a publicly traded gold
exploration and mining company based in Saskatoon, Saskatchewan, whose shares trade on
the Toronto Stock Exchange (TSX: CRJ) and the OTCQB (OTCQB: CLGRF).
Its asset base is located entirely in Canada and since 1991, Claude has produced
over 1,000,000 ounces of gold from its Seabee Gold Operation in
northeastern Saskatchewan. The
Company also owns 100 percent of the Amisk Gold Project in
northeastern Saskatchewan.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact,
contained or incorporated by reference in this news release
and constitute "forward-looking information" within the
meaning of applicable Canadian securities laws and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (referred to herein as
"forward-looking statements"). Forward-looking statements
include, but are not limited to, statements with respect to the
future price of gold, the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines,
currency exchange rate fluctuations, requirements for additional
capital, government regulation of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims
and limitations on insurance coverage. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate" or
"believes", or the negative connotation thereof or variations of
such words and phrases or state that certain actions, events or
results, "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation
thereof.
All forward-looking statements are based on various assumptions,
including, without limitation, the expectations and beliefs of
management, the assumed long-term price of gold, that the Company
will receive required permits and access to surface rights, that
the Company can access financing, appropriate equipment and
sufficient labour, and that the political environment within
Canada will continue to support
the development of mining projects in Canada.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Claude
to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to:
actual results of current exploration activities; environmental
risks; future prices of gold; possible variations in ore reserves,
grade or recovery rates; mine development and operating risks;
accidents, labour issues and other risks of the mining industry;
delays in obtaining government approvals or financing or in the
completion of development or construction activities; and other
risks and uncertainties, including but not limited to those
discussed in the section entitled "Business Risk" in the Company's
Annual Information Form. These risks and uncertainties are
not, and should not be construed as being, exhaustive.
Although Claude has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Forward-looking statements in this news release are made as of
the date of this news release and accordingly, are subject to
change after such date. Except as otherwise indicated by
Claude, these statements do not reflect the potential impact of any
non-recurring or other special items that may occur after the date
hereof. Forward-looking statements are provided for the
purpose of providing information about management's current
expectations and plans and allowing investors and others to get a
better understanding of our operating environment.
Claude does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in
accordance with applicable securities laws.
CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING RESOURCES
ESTIMATES
The resource estimates in this document were prepared in
accordance with National Instrument 43-101, adopted by the Canadian
Securities Administrators. The requirements of National Instrument
43-101 differ significantly from the requirements of the United
States Securities and Exchange Commission (the "SEC"). In this
document, we use the terms "measured", "indicated" and "inferred"
resources. Although these terms are recognized and required in
Canada, the SEC does not recognize
them. The SEC permits U.S. mining companies, in their filings with
the SEC, to disclose only those mineral deposits that constitute
"reserves". Under United States
standards, mineralization may not be classified as a reserve unless
the determination has been made that the mineralization could be
economically and legally extracted at the time the determination is
made. United States investors
should not assume that all or any portion of a measured or
indicated resource will ever be converted into "reserves". Further,
"inferred resources" have a great amount of uncertainty as to their
existence and whether they can be mined economically or legally,
and United States investors should
not assume that "inferred resources".
SOURCE Claude Resources Inc.