The 2002 program involved reconnaissance scale drilling that focused on
three target areas approximately 2-4 kilometres north-northwest of the Madsen
mine. In total, 17 holes or 34,910 feet (10,643 metres) of drilling were
completed. The targets tested are all enveloped by a huge iron carbonate
alteration halo that is superimposed on a suite of Balmer Assemblage
mafic/ultramafic rocks. Coincident geochemical and geophysical anomalies
coupled with encouraging historical drill intersections further refined target
selection. The program goal was to outline the stratigraphy, structure,
alteration and mineralization with widely spaced ( (tilde)250m) holes.
Modeling of the target area was based on its striking similarities to the
Campbell and Red Lake mines.
A plan view of the drill hole locations has been posted as the most
recent news release on the Claude Resources' web-site at
www.clauderesources.com.
Projected expenditures of $3 million on the Madsen property in 2003 are
nearly triple the amounts incurred in 2002. The deployment of a second diamond
drill, exploration staffing additions and the construction of a new core
logging facility constitute some of the infrastructure changes appropriate for
a program of this magnitude.
With its 2002 mandate of identifying gold-bearing systems successfully
fulfilled, the Madsen project's emphasis is now vectoring in on high grade
traps and structures. One drill has been dedicated to this task of in-fill and
step-out drilling. Elsewhere along the 10+ kilometres of original Madsen
trend, a second rig has begun the preliminary assessment of a number of high
quality targets identified during the Company's compilation of geochemical,
geophysical, geological and historic drilling programs.
Both drills began work in early March.
Placer Dome has the right to earn a 55% interest in Claude Resources'
10,500-acre Madsen property by spending CDN $8.2 million prior to the end of
2004 and delivering a bankable feasibility study over the following two years.
newswire.ca
The Redaurum Property is located within one of the major Red Lake deformation corridors and in close proximity to the past producing Madsen Gold Mine (2.6 million ounces produced). Claude and Placer Dome recently announced the discovery of a gold bearing zone immediately south of the Redaurum Property, described as a broad corridor of quartz carbonate tourmaline veining with visible gold.
The current phase of drilling will include 4 holes (approx. 2000 m, NQ) drilled close to the boundary with the Madsen Property (Anomaly #1 Area). A second stage of drilling will be commenced later this summer after compilation of the historical and current data, and surface mapping work is completed.
Previous drilling on the Redaurum Property tested the property near surface, intersecting values including 1.12 oz/ton Au across 5 feet, 0.17 oz/ton Au across 25 feet and 2.20 oz/ton Au across 2 feet in Zone 14A; 0.56 oz/ton across 7.2 feet in the No.3 Zone; and, 0.37 oz/ton Au across 5 feet in the Camp Zone. The majority of the property has not been tested by drilling nor has any deep drilling been carried out on the property. Significantly, the Redaurum Property is underlain by several ultramafic rock units and extensive quartz carbonate veining, important features of the producing Campbell (Placer Dome) and Red Lake (Goldcorp) gold mines
stockhouse.com
At the Madsen project in northwestern Ontario, Placer Dome has completed
17,103 metres of diamond drilling in 31 holes. The majority of drilling has
been a follow-up to the 2002 discovery north of the Madsen mine. Claude will
receive an updated detailed report from Placer Dome in late August.
newswire.ca
stockta.com
stockhouse.com
CRJ also has a significant interest in the Shore Gold Star kimberlite which is being bulk tested for economic feasibility.
stockta.com |
