St. Eugene Mining Corporation Limited (TSX VENTURE:SEM) announces the commencement of a 3,500 meter (13 holes) drilling program at the Company's Amisk Gold Project, a joint venture with Claude Resources Inc.
The drill program is being supervised by Claude Resources as operator, and will focus on expanding and defining the gold silver mineralization identified by recent drilling and sampling programs.
Results from the Amisk Gold Project include:
- 241.0 metres averaging 2.16 g/t gold and 18.9 g/t silver (December 16, 2010); and
- 161.8 metres averaging 1.29 g/t gold and 7.9 g/t silver (June 3, 2010).
Ms. Jennifer Boyle, President and CEO notes: "Drilling and extensive sampling of the historical core has identified a significant footprint of gold and silver mineralization that could potentially be exploited by an open pit mine. This exploration program will test the continuity of the mineralization to the 500 metre level and beyond. The Company has sufficient capital in place to complete the exploration program as planned, including an expanded program if warranted."
An initial 43-101 resource estimate has been commissioned by the joint venture. The estimate, to be completed by SRK Consulting, is expected to be completed during the first quarter of 2011.
St. Eugene holds a 35% participating interest in the Amisk Gold Project and Claude Resources holds a 65% interest.
Dr. Tania Ilieva, P.Geo., is the Qualified Person who has reviewed and approved the contents of this news release for and on behalf of St. Eugene. Brian Skanderbeg, P.Geo. and M.Sc., Claude's Vice-President Exploration, is the Qualified Person who has reviewed and approved the contents of this news release for and on behalf of Claude.
Source: St. Eugene Mining Corporation Limited