Claude Announces Madsen Exploration Program
SASKATOON, SK, April 12 /CNW/ - Claude Resources Inc is pleased to
announce that Placer Dome (CLA) Canada has tabled its 2002 work program and
confirmed a May starting date on the Madsen (Red Lake) property optioned from
Claude. With a $1.2 million commitment and a proposed drill program of
approximately 10,000 meters in two phases, Placer intends to aggressively
pursue several target areas with the potential to host high-grade lode gold.
Using its 2001 drill data as a platform, Placer has identified five
targets at or near the Balmer assemblage mafic/ultramafic contact that may
represent the northeast extension of the system hosting the high-grade No. 8
Zone. Diamond drilling in 2001 successfully established the trace of the host
stratigraphy to the northeast of the mine. Further, it encountered significant
alteration, structure and modest gold values. Surface fieldwork, including
ground traverses, soil and mobile metal ion (MMI) geochemical sampling, has
identified a number of prospective targets. Integrating these anomalies with
reinterpreted airborne magnetic and derivative data plus digital terrain
mapping shadow plots, has further refined Placer's ability to vector in on a
number of high quality targets to be tested in 2002.
Several of the targets identified possess geological settings either very
similar or identical to the setting of the No. 8 Zone. The combination of
favourable stratigraphy, structure and elevated gold values makes these
targets priorities for Placer Dome's 2002 exploration program on the Madsen
property.
Placer may earn a 55% interest in the Madsen property by delivering a
bankable feasibility study on or before November 2006.
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For further information: Neil McMillan, President, Philip Olson, Vice
President, Exploration, Phone: (306) 668-7505;
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