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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To: PaperPerson who wrote (4525)	1/22/2012 8:48:50 AM
From: DrBill	1 Recommendation Read Replies (2) of 4690

CRJ NEWS WEEK OLD BUT LAST PARAGRAPH PRICE TARGET WORTH NOTING _____________________________________________________________ <!-- Exploration Success at Claude’s Seabee Mine Continues this is the old Title, we changed it to de-emphasize --> Exploration Success at Claude’s Seabee Mine Continues Monday, January 16, 2012 9:25 am EST Claude Resources (CGR) reported exploration results from its L62 discovery at the company’s 100%-owned and operated Seabee Gold Mine. The L62 deposit is located approximately 200 meters away from existing development in the hanging wall of the Seabee Mine. The drilling was completed between September and December of 2011, with the results to be incorporated into an updated National Instrument 43-101 resource calculation anticipated in the first quarter of 2012. Drilling intercepted economic grades and widths approximately 25 meters along strike and 125 meters up-dip from previous high grade intercepts. Highlights 195.06 grams of gold per tonne over 2.29 metres true width (U11-651) 12.81 grams of gold per tonne over 6.70 metres true width (U11-649) 14.83 grams of gold per tonne over 5.19 metres true width (U11-650) 22.03 grams of gold per tonne over 4.41 metres true width (U11-661) Brian Skanderbeg, Vice President, Exploration of Claude Resources: “Since discovery during the second quarter of 2011, the L62 has been the focus of an aggressive exploration program and has grown rapidly. The Company commenced underground development towards the L62 in October, two months earlier than originally planned, and looks forward to incorporating the L62 into Seabee’s production profile in the second half of 2012.” Paolo Lostritto, National Bank Financial: “We reiterate our Outperform rating and C$3.30 target on Claude Resources shares…Catalysts continue to be :1) Madsen underground drill results, 2) Seabee shaft deepening coupled with Santoy ramp up, and 3) more Amisk drilling.” ___________________________________________________________________________________ Would be great to see $3.30 SP. Regards, DrBill

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