I thought that I would repost this 1999 release as the time is drawing near for some results!
Claude Resources Plans to Undertake Major Drill Program at Madsen Mine
SASKATOON, Sept. 3 /CNW/ - Claude Resources Inc. will initiate a $10
million diamond drilling program at its Madsen property at Red Lake, Ontario,
Canada.
In conjunction with the drilling program, modifications will be made to
the mill to expand its capacity to more than 1,000 tons per day.
The decision to proceed with these programs is based on the successful
mining and milling of ore from the McVeigh structure and the Company's
confidence in its ability to build reserves on the McVeigh and related
structures.
The drill program will have two objectives:
Firstly, the Company intends to develop at least 1,000,000 tons of
reserves in the ``upper levels'' of the mine to support a commercially viable
1,000 ton per day milling operation.
This program will utilize both surface and underground drills and total
270,000 feet (82,000 metres) costing approximately $5 million.
Secondly, Claude intends to delineate the high-grade reserves at depth,
including the mafic/ultramafic structure known as the No. 8 zone.
The deep reserves will be pursued from a major exploration drift on the
16th level of the Madsen mine and will total 150,000 feet (46,000 metres) of
drilling at a cost of approximately $5 million as well.
Both drill programs will run concurrently with upper level drilling
expected to be completed in 9 to 12 months and the deep program expected to be
completed in 12 to 18 months.
Starting November 1, 1999, milling will be suspended to accommodate
changes to the mill.
%SEDAR: 00000498E
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For further information: Neil McMillan, President, (306) 668-7505 |
