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Claude Resources Inc. (TSX-CRJ) (NYSE Amex-CGR) ("Claude" or
the "Company") today reported exploration results from its
underground and surface drill programs at the 100 percent owned Santoy 8 Gold Mine and from the Santoy
Gap located north of the Santoy 8 Gold Mine.
Highlights from the drill programs include:
- 5.81grams
of gold (cut) per tonne over 14.8 metres true width (hole Joy-10-512);
-
- 5.52
grams of gold (cut) per tonne over 15.9 metres true width (hole Joy-10-515);
-
- 9.56
grams of gold (cut) per tonne over 5.2 metres true width (hole Joy-10-532);
-
- 17.33
grams of gold (uncut) per tonne over 4.0 metres width (Joy-10-499).
HOLE #
|
ZONE INTERSECTION
|
GRADE g/T(uncut)
|
GRADE g/T(cut)
|
TRUE WIDTH
(m)
|
NAME (Target)
|
FROM
|
TO
|
LENGTH
(m)
|
SUG-10-019
|
8b
|
146.70
|
150.00
|
3.30
|
7.66
|
7.66
|
3.3
|
SUG-10-022
|
8a
|
131.00
|
135.00
|
4.00
|
6.37
|
6.37
|
3.9
|
SUG-10-031
|
8a
|
215.70
|
219.40
|
3.70
|
7.98
|
7.98
|
2.3
|
SUG-10-031
|
8b
|
161.10
|
165.20
|
4.10
|
4.92
|
4.92
|
3.9
|
SUG-10-034
|
8a
|
146.80
|
149.40
|
2.60
|
6.51
|
6.51
|
2.1
|
SUG-10-040
|
8a
|
195.30
|
199.50
|
4.20
|
14.04
|
14.04
|
2.7
|
Joy-10-505
|
8f
|
194.50
|
201.50
|
7.00
|
5.44
|
5.44
|
5.2
|
Joy-10-506
|
8f
|
68.63
|
85.42
|
16.79
|
4.02
|
4.02
|
15.6
|
Joy-10-512
|
8f
|
127.08
|
148.00
|
20.92
|
6.77
|
5.81
|
14.8
|
Joy-10-515
|
8f
|
140.00
|
157.50
|
17.50
|
5.52
|
5.52
|
15.9
|
Joy-10-516
|
8f
|
190.45
|
200.12
|
9.67
|
4.38
|
4.38
|
6.3
|
Joy-10-519
|
8f
|
47.85
|
62.50
|
14.65
|
3.47
|
3.47
|
13.8
|
Joy-10-522
|
8f
|
78.08
|
83.04
|
4.96
|
5.81
|
5.81
|
4.9
|
Joy-10-522
|
8f
|
177.45
|
190.73
|
13.28
|
3.79
|
3.79
|
10.7
|
Joy-10-526
|
8g
|
161.58
|
172.00
|
10.42
|
4.25
|
4.25
|
7.0
|
Joy-10-532
|
8f
|
206.00
|
213.00
|
7.00
|
21.50
|
9.56
|
5.2
|
Joy-10-495*
|
Gap
|
316.93
|
319.33
|
2.40
|
8.78
|
-
|
-
|
Joy-10-497*
|
Gap
|
141.50
|
143.00
|
1.50
|
7.04
|
-
|
-
|
Joy-10-499*
|
Gap
|
175.00
|
179.00
|
4.00
|
17.33
|
-
|
-
|
Joy-10-500*
|
Gap
|
58.00
|
59.00
|
1.00
|
10.32
|
-
|
-
|
*Santoy Gap drilling is regional in nature
and as such has insufficient data to develop a cutting factor. True widths of
the Santoy Gap drilling are approximately 80 to 90
percent of drilled width.
Speaking today in Saskatoon, Philip Ng, Vice President, Mining
Operations stated, "The above average widths at Santoy
8 and the regional potential demonstrated by the regional Gap drilling are very
encouraging and will positively impact the economics of mining the deposit.
Future drill programs will continue to delineate and expand the resource at
depth and along strike."
Santoy 8
Production Update
Pre-production development progressed better than expected at Santoy 8 during the fourth quarter with sill development
on the 3rd, 5th, 7th, 8th and 10th
Levels and the completion of the first ventilation raise to surface.
Over the life of mine plan for the Seabee Operation, the Company anticipates the
Santoy 8 Project to provide up to 50 percent of the
overall feedstock to the Seabee Operation's central Milling Facility and
anticipates this contribution to be a positive catalyst in improving
production and lowering unit operating costs at the Seabee Operation.
Management expects Santoy 8 to attain commercial
production status during the first half of 2011.
Please visit www.clauderesources.com
for plan maps of the Seabee Operations, the Santoy
8 Gold Mine and Santoy Gap.
Claude Resources Inc. is a public company based in Saskatoon,
Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and
the NYSE Amex (NYSE Amex-CGR). Claude is a gold exploration and mining
company with an asset base located entirely in Canada. Since 1991, Claude has
produced over 930,000 ounces of gold from its Seabee mining operation in
northeastern Saskatchewan. The Company also owns 100 percent of the 10,000
acre Madsen property in the prolific Red Lake gold camp of northwestern
Ontario and has a 65 percent working interest in the Amisk
Gold Project in northeastern Saskatchewan.
Samples were assayed by Claude Resources Inc.'s non-accredited assay
lab at the Seabee mine site and/or TSL Laboratories in Saskatoon. Duplicate
check assays for assays completed at the Seabee mine 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 metres while the
maximum was 1.0 metre. 200 gram samples were
pulverized until greater than 80 percent passes through 150 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 30 grams per tonne was used to determine
cut grades. Philip Ng, P.Eng, Vice President,
Mining Operations and Brian Skanderbeg, P.Geo., Vice President, Exploration, Qualified Persons, have
reviewed the contents of this news release for accuracy.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This Press Release may contain 'forward-looking' statements regarding
the plans, intentions, beliefs and current expectations of the Company, its
directors, or its officers with respect to the future business activities and
operating performance of the Company. The words "may", "would",
"could", "will", "intend", "plan",
"anticipate", "believe", "estimate",
"expect" and similar expressions, as they relate to the Company, or
its management, are intended to identify such forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future business activities or performance
and involve risks and uncertainties, and that the Company's future business
activities may differ materially from those in the forward-looking statements
as a result of various factors. Such risks, uncertainties and factors
are described in the periodic filings with the Canadian securities regulatory
authorities, including the Company's Annual Information Form and quarterly
and annual Management's Discussion & Analysis, which may be viewed on
SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although the Company has
attempted to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that cause
results not anticipated, estimated or intended. The Company does not
intend, and does not assume any obligation, to update these forward-looking
statements.
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