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Gold/Mining/Energy : Claude Resources TSE.CRJ Undervalued Junior Gold Anyone?
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To: geoffb_si who wrote (285)6/18/2001 4:20:32 PM
From: Gord Bolton  Read Replies (1) of 359
 
Claude Reports Madsen Drill Results

CALGARY, June 18 /CNW/ - The first phase of exploration drilling at
Claude Resource's Madsen, Red Lake project has been completed by Placer Dome
(CLA) Limited.
The Phase I drilling program of four holes totaling 11,257 feet (3,431
metres) was designed to test the structure and stratigraphy of the target area
presumed to host the historic, high-grade No. 8 Zone.
The four holes tested 3,200 feet (975 metres) of strike length along the
interpreted trace of the mafic/ultramafic contact and targeted an intercept
depth half way between the surface and the known No. 8 Zone workings. The
program was successful in defining a recognizable, grossly repetitive
stratigraphy described as similar to the one that hosts the high-grade at
Placer Dome's Campbell mine and the adjacent Goldcorp deposit.
While this phase of stratigraphic drilling was not initiated to intersect
high-grade targets, a zone tentatively correlated with the No. 8 Zone was
reported in the program's 4th hole. It averaged 814 parts per billion Au (ppb)
over 31 feet (9.45 metres) including a 3.8 foot (1.16 metres) interval that
assayed 4.1 grams per tonne Au. This and other geochemically-elevated assay
intervals within a restricted corridor bracketing the mafic/ultramafic contact
furnish direct evidence of a mineralizing system well within the footwall
(2,000 feet or 609 metres) of the Madsen mine.
A second phase of drilling that targets the up-plunge projection of the
No. 8 Zone is currently in progress.
%SEDAR: 00000498E

-30-

For further information: Neil McMillan, Claude Resources Inc.,
President, (306) 668-7505;
To request a free copy of this organization's annual report, please go to
www.newswire.ca and click on reports@cnw.

newswire.ca
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