Claude Resources Hits More High-Grade at Santoy Gap

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By jturbin | November 28, 2012 4:05 AM EST

Gold Alert

Claude Resources (CRJ.TSX, AMEX: CGR) released a summary of results from its recently completed 2012 drill program at the Santoy Gap, located within the Company’s 100%-owned, 14,400 hectare Seabee Gold Project.  The Canadian gold mining company announced that newly released results have extended the mineralized system down-dip to 650 meters depth and along strike to the south toward the Santoy 8 Mine.

Claude Resources also reported that the program has discovered a sub-parallel lens to the Santoy Gap, approximately 150 meters to the east. The latest drill intercepts continue to confirm the high prospectivity of the Santoy Regional Shear Zone, hosting multiple deposits over a three kilometer strike length.

Highlights:

* Hole JOY-12-686 intersected 8.16 grams per tonne (g/t) of gold over 5.93 meters

* Hole JOY-12-679 intersected 13.81 g/t of gold over 20.29 meters

* Hole JOY-12-677 intersected 14.58 g/t of gold over 29.74 meters

* Claude noted that holes -679 and -677 have outlined a significant high-grade core to the Santoy Gap deposit

Brian Skanderbeg, Senior Vice President and COO of Claude Resources:

“The 2012 drill program at Santoy Gap has yielded a new hanging wall discovery as well as expanded and confirmed resource continuity…We look forward to integrating these results into an updated National Instrument 43-101 resource and the Seabee Life of Mine Plan.”

Neil McMillan, President and CEO of Claude Resources:

“The Seabee Gold Operation delivered positive earnings and higher grade ore from Seabee Deep and the L62 Zone.”

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This article is contributed by Gold Alert and does not represent the views or opinions of International Business Times.

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