Claude drilling hits significant gold

Claude Resources (CCH-T) has hit significant gold at its Santoy Lake property, about 125 km northeast of La Ronge, Sask.

Drill highlights in zone 7 include one hole that intersected four intervals over a 3.95 metre section that graded between 11.4-89.67 grams gold over 0.4-0.8 metre widths (with high assays accounting for 3.1 of the 3.95-metre interval). This was followed by a 0.65-metre intercept that graded 8.91 grams gold.

Another hole cut 2.18 metres that contained three intervals from 0.65-0.83 metre-wide assaying from 10.5-12.44 grams gold per tonne. A third hole assayed up to 31.36 grams gold over 1.17 metres followed directly by 0.5 metre grading 26.43 grams gold per tonne and continuing with 0.6 metre grading 6.9 grams gold.

Zone 7 was tested by 48 holes totalling 6,164 metres; nineteen of these contained at least one assay greater than 10 grams gold per tonne; 33 intercepts in 19 holes graded from 10.43-134.43 grams gold over 0.15-1.25 metres.

Zone 7 is about 3 km northwest of zone 8. Zone 6 is less than one km south of zone 7. The zones are within a 4-km long northwest trending shear zone that dips northeast. Gold is associated with quartz veins containing sulphide and chlorite. The veins are within sheared mafic volcanic rock near granodiorite and granite sills. In zones 7 and 8 drilling cut chlorite-quartz veins 1-7 metres in width.

Drilling in zone 8 (21 holes totalling 2,797 metres) resulted in seven holes intersecting at least 10.16-39.67 grams gold over 0.3-1.1 metres. Highlighting this drilling is hole 121 that cut three intervals (1.8 metres over a 2.7-metre total intercept) grading 12.7-39.67 grams gold per tonne, in addition to other significant assays.

Twenty-three holes were drilled between zones 7 and 8. Highlighting this drilling is one hole that cut 1.25 metres grading 34.36 grams gold. Ten other holes cut intercepts from 1.5-76.07 grams gold over 0.4-1.4 metres.

Five holes (598 metres in total) tested zone 6, but failed to intersect significant gold.

The property is 11.5 km east of Claude’s Seabee gold mine. In 2003, the mine produced 50,800 oz. gold from 209,000 tonnes grading 7.95 grams gold per tonne. The mine has an estimated mineral reserve of 674,700 tonnes grading 7.48 grams gold with an additional 2 million tonnes in the inferred resource category.