Nov 15 2011
Claude Resources Inc. has provided an update from its on-going drill program at Santoy Gap within the Company's 100 percent-owned, 14,400 hectare Seabee Project.
Drilling has intercepted the widest mineralization to date and continues to significantly expand the strike length and depth of the mineralized system. Results will be used in conjunction with historic drilling to prepare a National Instrument 43-101 compliant gold resource for the Santoy Gap deposit during the first quarter of 2012.
Highlights of the drilling at Santoy Gap released today include:
- 12.79 grams Au per tonne over 20.25 metres in JOY-11-555
- 19.10 grams Au per tonne over 20.48 metres in JOY-11-556
- 8.34 grams Au per tonne over 3.42 metres in JOY-11-562
- 7.85 grams Au per tonne over 2.45 metres in JOY-11-563
- 25.10 grams Au per tonne over 1.20 metres in JOY-11-564
- 13.80 grams Au per tonne over 1.41 metres in JOY-11-579
- 36.51 grams Au per tonne over 1.72 meters in JOY-11-580
These drill intercepts continue to demonstrate the potential to define a significant resource at Santoy Gap. Holes JOY-11-555 and JOY-11-556 drilled in the central portion of the deposit outlined high grades over widths of greater than 20 metres. As well, step-out drilling both along strike to the northwest and at depth has intersected significant intervals of visible-gold bearing quartz veins. The system remains open along strike to the northwest and southeast and at depth.
A total of 56 holes and 22,000 metres have been completed at Santoy Gap in 2011 with assay results for 28 holes in progress. The Company's three rig surface drill program is currently testing extensions and continuity of the system and has expanded the gold-bearing structure to a strike length of over 540 metres and to depths in excess of 500 metres. The Santoy Gap deposit is located within 400 metres from underground infrastructure and is immediately on strike and adjacent to the Santoy 8 Mine.
"Since its discovery in the second quarter, Santoy Gap has demonstrated impressive grade, width and continuity. In particular, holes JOY-11-555 and 556 are the widest high grade intercepts returned to date on the Seabee Project," stated Brian Skanderbeg, Vice President Exploration of Claude. "The scale of the Santoy Gap system and proximity to infrastructure, combined with exciting drill results from the L62, bode well for expansion of the Seabee Project."
Gold mineralization at Santoy Gap is hosted within a system of sheeted, shear-hosted quartz veins, silicified biotite-diopside schist and silicified granitic to dioritic dykes. Visible gold is typically observed along vein contacts, associated with trace to 5 percent, disseminated pyrrhotite, pyrite, chalcopyrite and rarely tellurides. Vein sets are interpreted to dip moderately, 45 to 60 degrees to the east, and are interpreted to be amenable to bulk underground mining techniques. The system shows very similar structural controls and geometry to the Santoy 8 deposit.
Please visit www.clauderesources.com for a detailed longitudinal map of the Santoy Gap deposit, complete list of reported and pending drill results and location map of the Seabee Project.
In addition to aggressive exploration efforts at the Seabee Project, Claude has initiated Phase II underground drilling at the Madsen Property in Red Lake and continues to advance the Amisk Gold Project. The Phase II Madsen program is designed to test depth and strike extensions to high grade mineralization within the 8 Zone Trend.
Claude Resources Inc. is a gold producer with shares listed on both the Toronto Stock Exchange (TSX-CRJ) and the NYSE Amex (NYSE Amex-CGR). The Company is also engaged in the exploration and development of gold mineral reserves and mineral resources. The Company's entire asset base is located in Canada. Its main revenue generating asset is the 100 percent owned Seabee Gold Operation, located in northern Saskatchewan. Since 1991, Claude has produced over 962,000 ounces of gold from the Seabee Gold Operation. Claude 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 Property in northeastern Saskatchewan.
SOURCE CLAUDE RESOURCES INC.