Claude Resources Inc. Intercepts 30.6 grams of gold per Tonne (Cut) Over 2.5 Meters True Width
"0.98 oz per tonne of gold over 8 feet"
Toronto Stock Exchange
Trading symbol - CRJ
AMEX - CGR
SASKATOON, Feb. 2 /CNW/ - Claude Resources Inc. (CRJ-TSX ; AMEX-CGR)
today reports results from its January 2009 underground exploration program at
the Company's Seabee Mine. Results include:
- 7.41 grams per tonne of Gold over 2.7 meters True Width
(hole U09-602).
- 30.60 grams per tonne of Gold over 2.5 meters True Width
(hole U09-605).
- 11.34 grams per tonne of Gold over 2.2 meters True Width
(hole U09-606).
- 10.61 grams per tonne of Gold over 2.6 meters True Width
(hole U09-609).
- 16.53 grams per tonne of Gold over 1.6 meters True Width
(hole U09-610).
Sequential drill results of this underground drill program from the 900
meter level drill station are as follows:
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HOLE FROM TO LENGTH MIDPOINT COORDINATES Au Au TRUE
No. (m) (m) (m) (m) (g/T) (g/T) WIDTH
--------------------- (uncut) (cut) (m)
NORTH EAST ELEV.
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U09-600 175.5 178.4 2.9 1178.6 1050.1 -600.4 0.01 0.01 1.0
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U09-601 116.5 119.2 2.7 1178.4 1028.1 -536.2 1.15 1.15 1.4
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U09-602 131.0 137.0 6.0 1180.2 1027.7 -560.0 7.41 7.41 2.7
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U09-603 147.7 152.2 4.5 1184.5 1024.9 -583.2 2.84 2.84 1.7
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U09-604 182.2 192.0 9.8 1181.3 1026.8 -623.6 0.03 0.03 2.6
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U09-605 121.0 126.9 5.9 1188.2 999.1 -559.3 43.13 30.60 2.5
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U09-606 165.8 174.5 8.7 1189.4 999.7 -612.3 59.19 11.34 2.2
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U09-607 82.9 87.7 4.8 1203.0 973.6 -526.8 12.34 7.26 2.3
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U09-608 146.7 157.0 10.3 1190.3 974.1 -595.4 10.88 6.05 3.4
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U09-609 69.3 73.1 3.8 1201.2 948.1 -499.4 23.64 10.61 2.6
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U09-610 81.3 84.0 2.7 1201.7 950.3 -517.8 18.28 16.53 1.6
-------------------------------------------------------------------------
Vice-President, Mining Operations, Philip Ng, P.Eng., stated that, "These
results being reported today extend the high grade gold mineralization at
Seabee Deep and represent a very positive start to our 2009 exploration
programs at our Seabee and Madsen properties. In addition, the close proximity
of this discovery to existing development means that it will positively impact
head grade delivered to our central milling facility at the Seabee Mining Camp
during 2009."
In 2009, Claude Resources Inc. forecasts to produce from its satellite
deposit at Santoy 7 as well as the Seabee Mine. In addition, the Company plans
on continuing with an underground bulk sample program at Porky West and
pending environmental approval and permits, to move Santoy 8 towards
commercial production.
Samples were assayed by Claude Resources Inc.'s non-accredited assay lab
at the Seabee mine site. Duplicate check assays were conducted at site as well
as at TSL Laboratories in Saskatoon. Results of the spot checks were
consistent with those reported. Sampling interval was established by minimum
or maximum sampling lengths and geological and/or structural criteria. Minimum
sampling length was 0.3 meters while the maximum was 1.0 meter. 200 gram
samples were pulverized until greater than 80% passes through 200 mesh screen.
30 gram pulp samples were then analyzed for gold by fire assay with
gravimetric finish (0.01 grams per tonne detection limit). A top cut of 50
grams per tonne was used to determine cut grades. Brian Skanderbeg, P.Geo.,
Vice President Exploration, Qualified Person, has reviewed the contents of
this news release for accuracy.
Claude Resources Inc. is a public company based in Saskatoon,
Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and
the American Stock Exchange (AMEX-CGR). Claude is a gold exploration and
mining company. The Company also owns producing oil and natural gas assets.
The Company's entire asset base is located in Canada. Since 1991, Claude has
produced approximately 835,000 ounces of gold from its Seabee mine in
northeastern Saskatchewan. The Company also owns 100% of the 10,000 acre
Madsen property in the prolific Red Lake gold camp of northwestern Ontario.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements relating
but not limited to the Company's expectations, intentions, plans and beliefs.
Forward-looking information can often be identified by forward-looking words
such as "anticipate", "believe", "expect", "goal", "plan", "intent",
"estimate", "may" and "will" or similar words suggesting future outcomes or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Forward-looking information may
include reserve and resource estimates, estimates of future production, unit
costs, costs of capital projects and timing of commencement of operations, and
is based on current expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ materially
from any forward-looking statement include, but are not limited to, failure to
establish estimated resources and reserves, the grade and recovery of mined
ore varying from estimates, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of
projects and other factors. Forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from expected results.
Potential shareholders and prospective investors should be aware that
these statements are subject to known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially from those
suggested by the forward-looking statements. Shareholders are cautioned not to
place undue reliance on forward-looking information. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the possibility
that the predictions, forecasts, projections and various future events will
not occur. Claude Resources undertakes no obligation to update publicly or
otherwise revise any forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law.
%SEDAR: 00000498E
%CIK: 0001173924
For further information: Neil McMillan, President & CEO, Claude Resources
Inc., Phone: (306) 668-7505 or Philip Ng, Vice President, Mining Operations,
Claude Resources Inc., Phone: (306) 668-7505, Email:
clauderesources@clauderesources.com, Website: www.clauderesources.com
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Claude Resources Inc.
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PRODUCER |
CODE : CRJ.TO |
ISIN : CA1828731093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Claude Resources is a gold producing company based in Canada. Claude Resources holds various exploration projects in Canada. Its main asset in production is SEABEE in Canada, its main asset in development is SANTOY 8 in Canada and its main exploration properties are PORKY LAKE, SANTOY 7 and AMISK LAKE GOLD in Canada. Claude Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 483.6 millions as of today (US$ 377.2 millions, € 332.2 millions). Its stock quote reached its highest recent level on November 22, 1996 at CA$ 3.10, and its lowest recent point on November 29, 2013 at CA$ 0.12. Claude Resources has 197 380 000 shares outstanding. |