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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL -- Ignore unavailable to you. Want to Upgrade?

To: PaperPerson who wrote (4403)	10/11/2011 5:06:40 PM
From: PaperPerson	Read Replies (1) \| Respond to of 4690

AMISK UPDATE - - same set of drill hole assays, two quotes. from st. eugene: Jennifer Boyle, President and CEO of St. Eugene commented, "The summer/fall drill program at the Amisk Gold JV has expanded the limits of the deposit to the east and south-east, and will be key in assessing upgrades to the mineralization within the current resource model.” $$$ from claude: "The 2011 Amisk drill program successfully confirmed mineralization within the current resource model and demonstrates the potential for growth," stated Brian Skanderbeg, Vice President Exploration. $$$$$$$$$$ which one gets you more excited? $$$$$$$$$$ details: claude's update on the same drill holes from amisk was ok, just that the quote was a little less exciting. this is what i would expect, that st. eugene would be a little more enthusiastic, because claude already made a publicly disclosed offer to buy out st. eugene for the equiv of about c12 cents a share this summer. st. eugene said it would check with its experts, but it was clear that the price was just too low. the two companies share in ownership of amisk, with claude the operator and owning 65 percent and st. eugene the minority partner with 35 percent. also claude already owns 10 percent of SEM.V $$$ more from claude: Claude Resources Inc. Provides Drilling Update on the Amisk Gold Project, SK “Intercepts 1.88 grams of Gold per Tonne over 24.61 Metres” Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) (“Claude”) is pleased to provide an update from its 2011 exploration program at the 15,400 hectare Amisk Gold Project in northeastern Saskatchewan, Canada. The Amisk Gold Project is located 20 kilometres southwest of Flin Flon, Manitoba and is a 65:35 Joint Venture between Claude and St. Eugene Mining Corporation. Claude is the operator of the Joint Venture. A total of 18 holes and 5,500 metres have been drilled to date in 2011 with assays returned for 14 of the holes. The program tested from surface to in excess of 250 metres depth and was designed to expand the limits of the Amisk Gold Deposit as well as infill within the northern and eastern portion of the deposit. Highlights of the drilling include 1.88 grams of Au per tonne and 12.4 grams of Ag per tonne over 24.61 metres in hole AL-11-301 and 0.51 grams of Au per tonne and 2.5 grams of Ag per tonne over 89.75 metres in AL-11-306. Mineralization intercepted in the drilling is consistent with the current resource model and is associated with a sequence of quartz porphyritic, rhyolitic lapilli tuffs and basaltic tuffs hosting disseminations and stringers of pyrite, sphalerite, galena, tetrahedrite and chalcopyrite. Fourteen drill holes successfully confirmed continuity of gold mineralization within the northern and eastern portion of the deposit as well as demonstrated the potential for expansion to the east and southeast. Four holes have also been completed evaluating the continuity of the system to depths in excess of 600 metres. Results are anticipated later in the fourth quarter. $$$ more from st. eugene: To date, 18 holes totalling 5,500 metres have been drilled as part of the summer/fall program at the Amisk Gold JV. Assays have been returned for 14 of the holes, and the four holes that remain pending for assays were completed to evaluate the continuity of the system to depths in excess of 600 metres. The program tested from surface to in excess of 250 metres depth and was designed to expand the limits of the Amisk Gold JV as well as infill within the northern and eastern portion of the deposit.