nice day for claude resources given the crappy selloff in gold market!!! good volume and up 8 percent on toronto.
finance.yahoo.com
news out this morning was they found more high grade gold at seabee in the new part they are drilling.
clauderesources.com
Claude Resources Inc. Expands Discovery at the Santoy Gap, Seabee Project
“10.3 Grams of Gold per Tonne Over 5.43 Metres at Santoy Gap”
Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) (“Claude” and or the “Company”) today announced that drilling at the Santoy Gap target within the Seabee Project has intercepted multiple high-grade intervals, significantly expanding the strike length and width of the mineralized system. The 14,400 hectare Seabee Project hosts the currently producing Seabee and Santoy 8 Gold Deposits and is located 110 kilometres northeast of La Ronge, Saskatchewan.
Highlights of the drilling include 10.30 grams of gold per tonne over 5.43 metres in JOY-11-535, 6.12 grams per tonne across 6.24 metres in JOY-11-549, 22.06 grams per tonne across 2.82 metres in JOY-11-551 and 49.60 grams per tonne across 1.36 metres in JOY-11-554. The Company's Santoy Gap exploration program at the Seabee Project has been expanded to include a third surface rig and continues to intercept broad, visible gold-bearing intervals along strike and at depth with assays pending on a further 14 holes. Table 1 provides a detailed summary of the assay results.
A total of 30 holes and 11,000 metres have been completed at Santoy Gap in 2011 with assays received for 16 holes (Table 1). The drill program has expanded the gold-bearing structure to a strike length of over 400 metres, to depths in excess of 450 metres and, when combined with drilling completed in 2010 (See Claude News Releases dated March 15th and July 26th, 2011), indicates strong potential to expand the Company's resource base at the Seabee Project. The Santoy Gap target is located within 400 metres of underground infrastructure, immediately on strike and adjacent to the Santoy 8 Mine. The system remains open along strike to the northwest, southeast and at depth.
“Initial drill testing of the Santoy Gap target has successfully intercepted multiple high grade vein sets and expanded the Santoy Gap and Santoy 8 system to in excess of 1.8 kilometres. This new discovery combined with the recent success at the L62, Neptune and continued Seabee Deep drilling demonstrate the potential for significant new discoveries and resource growth in the Seabee Camp,” stated Brian Skanderbeg, Vice-President Exploration.
Based on these encouraging results from Santoy Gap, Claude has expanded the 2011 Seabee exploration program to include 43,000 metres of surface drilling, of which 20,000 will be focused at Santoy Gap between September 1st and year end. The three rig program will focus on aggressively exploring the Santoy Gap target and its relationship to the Santoy 8 orebody to depths of in excess of 500 metres.
In addition to aggressive exploration efforts at the Seabee Project, Claude has initiated Phase II underground drilling at the Madsen Property in Red Lake and continues to advance the Amisk Gold Project. The Phase II Madsen program is designed to test depth and strike extensions to high grade mineralization within the 8 Zone Trend.
Please visit www.clauderesources.com for a detailed longitudinal map of the Santoy Gap target and location map of the Seabee Project. |
