DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL Message Board

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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL

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From: PaperPerson	8/17/2011 9:27:25 AM
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Claude Resources, CGR/CRJ.TO seems to have found a nice new pocket of gold at Seabee, its main producing property in sask. I am in the CRJ-WT.TO warrants, which have a strike price of c1.60 and expire in spring 2013. clauderesources.com Claude Resources Inc. Intercepts 39.8 Grams of Gold per Tonne Over 10.0 Metres True Width in newly Discovered L62 Zone at Seabee Gold Operation Including 528.1 grams of gold per tonne over 0.7 metres true width Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) (“Claude” or the “Company”) today reported new exploration results from its new hanging wall discovery at its 100 percent owned and operated Seabee Gold Mine. Highlights from the programs include: 8.81 grams of gold per tonne (cut) over 4.9 metres true width (U11-349); 5.33 grams of gold per tonne (cut) over 4.8 metres true width (U11-350); and 6.90 grams of gold per tonne (cut) over 10.0 metres true width (U11-629). Speaking today in Saskatoon, Philip Ng, Senior Vice President, Mining Operations stated that "We have mobilized two underground drills on the L62 Zone and are looking to add a third drill to explore and define the L62 Zone and other near mine targets. This series of intercepts with above average true widths and economic gold grades are strong indications that we have discovered a new gold-bearing structure. As the L62 zone is located approximately 300 metres from our underground infrastructure on multiple levels, we will likely be in a position to start mining the L62 in the first half of 2012 to expand our existing production profile out of Seabee Mine." In 2011, Claude will drill approximately 86,500 metres at the Seabee Gold Operation. Exploration targets include the Seabee Gold Mine, the Santoy 8 Gold Mine, Santoy Gap, L62 and Neptune.

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