Rising Gold Prices Encouraging More Exploration

Rising Gold Prices Encouraging More Exploration

Monday, April 10, 2006 at 12:54

The owner of a gold mine near La Ronge is on the hunt for more gold in the North, especially now that the price for the precious metal is going through the roof.

Claude Resources president Neil McMillan says they have budgeted for 70,000 metres of exploration drilling this year alone.

He admits the expanded search is being caused by the recent rise in the price of gold.

The metal is currently valued at $600 US an ounce and McMillan says the price could easily rise even more.

McMillan says growing wealth in China and India is partially behind the rise.

He also says activity is being stepped up at the Seebee mine near La Ronge and production could double within two years’ time.