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Gold/Mining/Energy : Claude Resources TSE.CRJ Undervalued Junior Gold Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: Dan Martin who wrote (156)	2/4/1999 12:30:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 359

shoregold.com Other Mineral Properties The Company's mineral property inventory, also includes interests in other properties and projects at various stages of exploration and development. The Jojay Lake gold deposit, located 90 miles northeast of La Ronge, Saskatchewan, is a joint venture between the operator Cameco (51%), Claude Resources (34%) and Shore (15%). Previous work has outlined a 397,000 ton deposit grading 0.22 ounces of gold per ton. The project is currently on standby, with no further work planned until metal prices reach an appropriate level. Breynat Lake, located near the Northwest Territories border, is a grassroots project exploring for copper, nickel and cobalt. The property covers an extensive gossan zone from which very limited prospecting has returned low grade copper and nickel values from several rock samples. The next phase of work will include an airborne geophysical survey, possibly flown at the same time as the Virgin River property, and an intensive prospecting program. At Fort a la Corne, Shore has entered into an agreement whereby it will operate all the diamond properties owned by Claude Resources Inc. Negotiations are in progress as to the extent, if any, Shore will also participate in the project to earn a working interest. Message 7588580 Munro Lake Located near the producing Seabee Gold Mine 80 miles northeast of La Ronge, Saskatchewan, the Munro Lake property is located within a large area of extensive gold mineralization. Covering 6,125 acres, with Shore holding a 51% working interest in the property in joint venture with Shane Resources Ltd., the project did not see a work program in 1997. Previous work, however, has resulted in extremely encouraging results. Prior to the 1996 pros-pecting program, surface grab samples returned assays of up to 0.41 oz/ton gold and 1.62% copper. The 1996 program of trenching and soil sampling confirmed a wide zone of mineralization in trenches 500 metres apart and associated with a large soil geochemical anomaly. Values from the trenches were determined from chip sampling at 0.5 m intervals across the face of the mineralized zone. The best results were from Trench B near the southern tip of the peninsula hosting the showings. Mineralization was sampled over a width of 18 m, with strong mineralization over 10 m. Assays across the 10 m section averaged 0.06 oz/ton gold and 0.7% copper. Within the section, individual 0.5 m samples ran up to 0.2oz/ton gold and 1.7% copper (Trench A nearby had assays up to 2.4% copper). Five hundred metres to the north, Trench D displayed significant mineralization over 6.5 m with values up to 0.07 oz/ton gold, 0.2% copper and 0.13% nickel. While the mineralized zone in the trenches appears to be sheared, the geochemistry anomaly indicates that the mineralization may be stratabound as well. This implies that the mineralized horizon may be far more extensive than the work to date has shown. The exploration focus, then, may well shift from attempting to define a narrow, high-grade deposit, to that of outlining a large-tonnage, lower-grade deposit. The next phase of exploration will include a ground, Induced Polarization survey over the property, further prospecting and trenching, and diamond drilling.