Claude aims drills at Porky (May 19, 2003)

Followup drilling by Claude Resources (CRJ-T) on the Currie Rose property, 2 km north of its Seabee mine in northern Saskatchewan, has confirmed the continuity of the West Porky gold zone and also uncovered a high-grade zone about a kilometre to the west.

Results from the 5,775-metre, 28-hole program confirm the West Porky zone over 400 metres of strike length to a depth of 250 metres. The holes were generally collared on 50-metre centres. Highlights are as follows:

— Hole 20 encountered 19 metres (from 145.6 metres below surface) grading 3 grams gold per tonne, including 3.9 metres of 7.3 grams, as well as 2.7 metres (from 162 metres) of 6.4 grams gold and 1.8 metres (from 227.7 metres) of 7.2 grams.

— Hole 22 returned multiple intervals (from 197.2 to 292.5 metres) running 4.6-9.2 grams gold over widths of 1-8 metres.

— Hole 24 cut four sections (from 95.5 to 123 metres) averaging between 3.7 and 11.8 grams over 1.5-2.8 metres;

— Hole 27 yielded 4.9 metres (from 115.1 metres) running 7.2 grams gold, including 2.4 metres (from 115.1 metres) of 12.5 grams.

— Hole 30 encountered grades of 3.6-11.1 grams over widths ranging from 2 to 17 metres.

The remaining holes returned slightly lower grades over similar intervals.

Mineralization at West Porky is characterized by shear-related sulphide replacement in calc-silicate altered mafic volcanic rocks. Free gold is associated with silicification of a feldspathic arenite. Both styles of mineralization occur as planar surfaces parallel to the southeast-trending, steeply dipping and metamorphosed volcano-sedimentary contact. Both mineralized structures plunge moderately to the southeast and either pinch out or are truncated by a dyke to the east.

The company believes West Porky has the potential to be a much larger deposit than the typical vein system at Seabee. It also believes the new zone is probably distinct from Seabee’s system, which runs east-west.

Meanwhile, 13 holes totalling 2,913 metres were collared about a kilometre to the northwest and turned up an arenite-hosted zone of high-grade gold mineralization.

Recent drill results from this area include the following:

— Hole 1 — 2.3 metres (from 89.6 metres) of 5.6 grams gold;

— Hole 4 — 1.8 metres (from 210 metres) grading 10.5 grams;

— Hole 6 — multiple intervals running between 6 and 33.2 grams gold over widths of 2-5 metres beginning at around 100 metres below surface;

— Hole 10 — 7.3 metres (from 202.8 metres) at 2.7 grams gold, including 2.3 metres (from 203.8 metres) of 5.9 grams;

— Hole 12 — 1.8 metres (from 205.6 metres) grading 9.1 grams; and

— Hole 13 — 1.7 metres (from 257 metres) grading 6.9 grams gold.

Claude has a 100% working interest in the 44.5-sq.-km Currie Rose property, subject to a 30% net profits interest payable to Currie Rose Resources (CUI-V).