Claude Resources Inc. Intercepts 169.38 Grams of Gold per Tonne Over 1.2 Metres True Width at Seabee Deep
SASKATOON, July 27, 2011 /CNW/ --
Trading Symbols
TSX - CRJ
NYSE Amex - CGR
Discovers New Zone 'L62' at Seabee Gold Operation
SASKATOON, July 27, 2011 /CNW/ - Claude Resources Inc. (TSX-CRJ; NYSE
Amex-CGR) ('Claude' or the 'Company') today reports highlights of its
2011 underground exploration program thru June 30. Results at the
Company's 100 percent owned and operated Seabee Gold Operations include:
-- 11.47 grams of gold per tonne (cut) over 3.7 metres true width
(U11-617) at Seabee Deep
-- 35.79 grams of gold per tonne (cut) over 1.2 metres true width
(U10-683) at Seabee Deep
-- 17.26 grams of gold per tonne (cut) over 2.3 metres true width
(U10-682) at Seabee Deep
-- 6.18 grams of gold per tonne (cut) over 15.1 metres true width
(SUG-11-006) at Santoy 8
-- 14.04 grams of gold per tonne (cut) over 2.7 metres true width
(SUG-10-040) at Santoy 8 and
-- 6.13 grams of gold per tonne (cut) over 4.8 metres true width
(U11-345) at L62
Speaking today in Saskatoon, Philip Ng, Senior Vice President, Mining
Operations stated that 'Underground exploration at Santoy 8 continues
to prove up additional mineral resources. As a result, we are looking
to increase tonnage output from Santoy 8 in 2012. Seabee Deep
continues to demonstrate down plunge extensions with high grade shoots
at depth in both the 2b and 2c ore bodies. The new L62 zone looks very
promising with two holes (U11-345 and U11-347) reporting economic
grades and widths. Based on these encouraging results, we have moved a
second diamond drill rig to accelerate exploration of this new zone.'
The newly discovered L62 zone is located approximately 200 metres from
existing Seabee underground infrastructure in the hanging wall of the
Seabee ore body and at 1,000 metres below surface.
__________________________________________________________________
| |ZONE INTERSECTION | MIDPOINT | | | |
| | | COORDINATES | | | |
|__________|__________________|_______________|_______|_____|______|
| | | | | | | | Grade |Grade|True |
| HOLE # |Target|FROM | TO |NORTH|EAST|ELEV| g/T |g/T |width |
| | | | | | | |(uncut)|(cut)| (m) |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-10-058| 8b |262.3|272.5|4976 |4925|-320| 5.96 |5.96 | 3.45 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-10-060| 8b |167.0|173.6|4919 |4915|-208| 12.23 |12.23| 3.05 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-354 | 2b |140.9|145.0|1145 |1219|-719| 16.15 |12.61| 2.50 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-357 | 2b |93.5 |97.8 |1149 |1194|-654| 9.51 |9.51 | 3.00 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-366 | 2b |216.4|229.4|1150 |1122|-777| 10.75 |9.52 | 4.0 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-368 | 2c |158.3|160.7|1196 |891 |-684| 12.62 |12.62| 1.20 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-369 | 2c |181.8|185.9|1192 |889 |-721| 12.99 |12.99| 1.60 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-370 | 2c |190.3|194.3|1193 |897 |-737| 12.34 |12.34| 1.60 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-373 | 2c |216.0|220.5|1188 |903 |-773| 25.32 |16.36| 1.70 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-380 | 2c |162.2|164.4|1187 |920 |-716| 17.45 |17.45| 1.10 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-678 | 2c |61.0 |62.0 |1127 |1590|-563| 25.70 |25.70| 0.90 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-679 | 2c |97.0 |99.5 |1127 |1588|-624| 6.83 |6.83 | 1.60 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-682 | 2c |56.6 |58.8 |1129 |1577|-551| 17.26 |17.26| 2.20 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U10-683 | 2c |70.0 |71.4 |1128 |1576|-587|169.38 |35.79| 1.20 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-11-003| 8a |111.3|120.0|4917 |4975|-183| 3.35 |3.35 | 5.23 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-006 | 2c |103.9|110.9|1509 |-235|162 | 6.69 |6.69 | 1.70 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-11-006| 8a |84.5 |106.5|4904 |4973|-154| 6.18 |6.18 |15.51 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-11-007| 8a |82.8 |92.0 |4950 |4885|-120| 12.69 |9.53 | 2.53 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-013 | 2c |30.0 |34.0 |1519 |-269|238 | 6.18 |6.18 | 3.00 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-026 | 2c |58.0 |66.9 |1546 |-305|200 | 5.76 |5.76 | 1.70 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-300 | 2c |191.5|196.5|1184 |922 |-755| 10.32 |10.32| 1.90 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-301 | 2c |201.5|205.9|1184 |924 |-766| 16.64 |12.87| 1.60 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-303 | 2c |127.1|129.0|1193 |927 |-667| 26.19 |9.80 | 1.10 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-303 | 2b |168.0|169.4|1220 |909 |-692| 22.12 |22.12| 0.80 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-309 | 2c |131.8|135.5|1177 |980 |-701| 7.50 |7.50 | 2.00 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-318 | 2b |111.0|118.0|1177 |1073|-624| 4.03 |4.03 | 4.90 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-319 | 2c |87.2 |91.0 |1187 |971 |-634| 4.35 |4.35 | 3.10 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-320 | 2c |80.6 |84.1 |1188 |970 |-618| 7.45 |7.45 | 3.10 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-321 | 2b |109.5|113.6|1177 |1076|-603| 8.91 |8.91 | 2.90 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-329 | 2c |89.0 |90.6 |1179 |1025|-629| 8.28 |8.28 | 1.40 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-330 | 2c |99.4 |107.5|1181 |980 |-661| 13.71 |6.86 | 5.70 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-332 | 2c |97.9 |101.3|1189 |957 |-644| 7.59 |7.59 | 2.50 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-337 | 2c |124.7|127.5|1189 |946 |-679| 10.93 |10.93| 1.70 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-345 | L62 |197.5|203.4| 937 |1086|-555| 6.13 |6.13 | 4.80 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-347 | L62 |200.9|204.9| 935 |1080|-538| 4.11 |4.11 | 3.30 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-605 | 2c |109.5|112.5|1129 |1555|-640| 10.94 |10.94| 1.70 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-611 | 2s |314.2|318.5| 834 |1554|-331| 6.65 |6.65 | 3.40 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-612 | 162 |244.7|248.3| 863 |1581|-404| 5.35 |5.35 | 3.10 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-614 | 161 |264.5|267.1| 800 |1582|-548| 10.24 |10.24| 2.50 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-616 | 161 |281.5|284.1| 794 |1585|-468| 5.75 |5.75 | 2.50 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
| U11-617 | 161 |327.0|329.7| 766 |1582|-412| 11.47 |11.47| 3.70 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-10-040| 8a |195.3|199.5|4974 |4690|-205| 14.04 |14.04| 2.72 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-10-044| 8a |207.1|213.6|4976 |4636|-208| 7.33 |7.33 | 3.68 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-10-046| 8a |164.7|172.2|4940 |4651|-161| 4.52 |4.52 | 5.48 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-10-046| 8a |164.7|172.2|4940 |4651|-161| 4.52 |4.52 | 5.48 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-10-051| 8a |43.6 |49.0 |4887 |4894|-71 | 6.4 | 6.4 | 3.07 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-11-020| 8a |107.4|111.1|4892 |5096|-121| 4.58 |4.58 | 2.48 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
|SUG-11-022| 8c |50.0 |52.4 |4929 |5045|-104| 7.38 |7.38 | 1.20 |
|__________|______|_____|_____|_____|____|____|_______|_____|______|
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 (see May 25(th), 2011 news release, 'Claude Resources Intercepts 84.66 g/tonne Gold
Over 3.20 Metres at Neptune').
Please visit www.clauderesources.com for longitudinal and regional maps of the Seabee Gold Project.
Claude Resources Inc. is a public company based in Saskatoon,
Saskatchewan, whose shares trade on the Toronto Stock Exchange
(TSX-CRJ) and the NYSE Amex (NYSE Amex-CGR). Claude is a gold
exploration and mining company with an asset base located entirely in
Canada. Since 1991, Claude has produced approximately 938,000 ounces of
gold from its Seabee mining operation in northeastern Saskatchewan. The
Company also owns 100 percent of the 10,000 acre Madsen property in the
prolific Red Lake gold camp of northwestern Ontario and has a 65
percent working interest in the Amisk Gold Project in northeastern
Saskatchewan.
Samples were assayed by Claude Resources Inc.'s non-accredited assay lab
at the Seabee mine site. Duplicate check assays were conducted at site
as well as at TSL Laboratories in Saskatoon. Results of the spot checks
were consistent with those reported. Sampling interval was established
by minimum or maximum sampling lengths and geological and/or structural
criteria. Minimum sampling length was 0.3 metres while the maximum was
1.0 metre. 200 gram samples were pulverized until greater than 80
percent passes through 150 mesh screen. 30 gram pulp samples were then
analyzed for gold by fire assay with gravimetric finish (0.01 grams per
tonne detection limit). A top cut of 50 grams per tonne was used to
determine cut grades. Philip Ng, P.Eng, Vice President, Mining
Operations and Brian Skanderbeg, P.Geo., Vice President, Exploration,
Qualified Persons, have reviewed the contents of this news release for
accuracy.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This Press Release may contain 'forward-looking' statements regarding
the plans, intentions, beliefs and current expectations of the Company,
its directors, or its officers with respect to the future business
activities and operating performance of the Company. The words 'may',
'would', 'could', 'will', 'intend', 'plan', 'anticipate', 'believe',
'estimate', 'expect' and similar expressions, as they relate to the
Company, or its management, are intended to identify such
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future business
activities or performance and involve risks and uncertainties, and that
the Company's future business activities may differ materially from
those in the forward-looking statements as a result of various
factors. Such risks, uncertainties and factors are described in the
periodic filings with the Canadian securities regulatory authorities,
including the Company's Annual Information Form and quarterly and
annual Management's Discussion & Analysis, which may be viewed on SEDAR
at www.sedar.com. Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward-looking statements prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected. Although the Company has attempted to identify important
risks, uncertainties and factors which could cause actual results to
differ materially, there may be others that cause results not
anticipated, estimated or intended. The Company does not intend, and
does not assume any obligation, to update these forward-looking
statements.
CAUTIONARY NOTE TO US INVESTORS CONCERNING RESOURCES ESTIMATES
The resource estimates in this document were prepared in accordance with
National Instrument 43-101, adopted by the Canadian Securities
Administrators. The requirements of National Instrument 43-101 differ
significantly from the requirements of the United States Securities and
Exchange Commission (the 'SEC'). In this document, we use the terms
'measured,' 'indicated' and 'inferred' resources. Although these terms
are recognized and required in Canada, the SEC does not recognize them.
The SEC permits US mining companies, in their filings with the SEC, to
disclose only those mineral deposits that constitute 'reserves'. Under
United States standards, mineralization may not be classified as a
reserve unless the determination has been made that the mineralization
could be economically and legally extracted at the time the
determination is made. United States investors should not assume that
all or any portion of a measured or indicated resource will ever be
converted into 'reserves'. Further, 'inferred resources' have a great
amount of uncertainty as to their existence and whether they can be
mined economically or legally, and United States investors should not
assume that 'inferred resources'.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/27/c7742.html
Philip Ng, P.Eng, Vice President, Mining Operations
Phone: (306) 668-7505
or
Brian Skanderbeg P. Geo, Vice President, Exploration
Phone: (306) 668-7505
Email: ir@clauderesources.com
Website: www.clauderesources.com