Post by Franko10 ™ on Nov 27, 2007 12:42:16 GMT -5
SHANE RESOURCES LTD.
105 – 111 Research Drive Telephone: (306) 664-3828
Saskatoon, SK S7N 3R2 Facsimile: (306) 244-0042
www.shaneresources.com info@shaneresources.com
CLAUDE RESOURCES DISCOVERS MORE GOLD ON SHANE PROPERTY
November 24, 2006 -Saskatoon, Saskatchewan – Shane Resources Ltd. (SEI – TSX Venture)
Claude Resources Inc. has provided results of the summer, 2006 exploration program on the Shane
property in Northern Saskatchewan, Canada.
The Shane property is located approximately five kilometres east of Claude's operating Seabee gold mine.
Claude owns a 75-per-cent interest in the property and Shane Resources Ltd. holds the remaining 25 per
cent.
During the summer Claude conducted a comprehensive soil geochemistry program, prospecting,
geological mapping and a core drill program totaling eight holes (2,444 metres). Results of the summer
work detailed one main mineralized horizon, traceable through drilling and prospecting for approximately
1,300 metres. This horizon typically contained one to three metres, and up to eight to 10 metres, of goldbearing
quartz-tourmaline-sulphide flooding within an east-trending shear zone. It has been drill tested
along approximately 500 to 600 metres of this 1,300-metre length.
This main mineralized horizon contains the following notable grades: 12.16 grams per tonne over 8.43
metres (6.46 metres true width) intersected in hole SHA 06-27 and 23.88 grams per tonne over 3.74
metres (2.86 metres true width) in hole SHA 06-31.
The drilling has also intersected two other quartz shear zones parallel to the main horizon. The first occurs
25 metres north of the main zone, and is fairly narrow and intermittent, but in places has visible gold
(68.14 grams over 0.29 metre in SHA 06-25). The second occurs another 50 metres to the north and is
larger and more consistent, but has lower values, generally below 6.0 grams.
The following lists significant intersections from the summer program:
SHANE PROPERTY 2006 SUMMER DRILL RESULTS
Hole From (m) To (m) Width (m) Gold (g/t) Weighted average True width (m)
gold (g/t)
SHA06-12 222.42 223.76 1.34 3.16 1.03
SHA06-25 137.86 138.86 1.00 6.16 0.77
SHA06-25 194.12 194.41 0.29 68.14 0.22
SHA06-26 104.50 105.50 1.00 3.46 0.77
SHA06-27 129.37 129.58 0.21 3.84 0.16
SHA06-27 130.82 139.25 8.43 - 12.16 (8.54(1)) 6.46
Incl. 131.82 132.82 1.00 60.51 0.77
Incl. 132.82 133.82 1.00 25.65 0.77
Incl. 136.82 137.82 1.00 7.57 0.77
Incl. 138.50 139.25 0.75 8.80 0.57
Incl. 139.62 139.86 0.24 3.88 0.18
SHA06-27 246.55 248.17 1.62 4.35 1.24
Incl. 246.55 247.45 0.90 6.31 0.69
SHA06-28 197.00 197.90 0.90 8.61 0.69
SHA06-28 294.88 295.84 0.96 4.57 0.74
SHA06-29 162.80 163.92 1.12 35.41 0.86
SHA06-29 203.00 205.32 2.32 4.98 1.78
Incl. 203.75 204.71 0.96 11.77 0.74
SHA06-30 99.40 101.22 1.82 3.47 1.39
Incl. 99.40 100.22 0.82 6.95 0.63
SHA06-30 112.40 114.53 2.13 7.05 1.63
Incl. 113.38 114.53 1.15 12.56 0.88
SHA06-31 174.75 180.00 5.25 3.58 4.02
Incl. 174.75 175.85 1.10 5.11 0.84
Incl. 178.00 179.00 1.00 11.76 0.77
SHA06-31 214.55 216.47 1.92 4.00 1.47
Incl. 214.55 215.50 0.95 6.72 0.73
SHA06-31 276.90 281.92 3.74 - 23.88 (8.52(1)) 2.86
Incl. 277.75 278.75 1.00 87.45 0.77
(1) Cutting factor of 30 grams per tonne applied
Mineralization along this structure is in the form of west-plunging lenses. The anomalous intersection of 23.88 grams per tonne over 3.74 metres in hole SHA 06-31 is the down-plunge extension of the 12.16 grams per tonne over 8.43 metres intersected in hole SHA 06-27, reflecting the strong mineral lineation measured in the field during the mapping program. Exploration will continue on the Shane property with a drill program during the winter months to test the horizon both east and west of the mineralization defined to date.
Management of Shane is very pleased to see this property continue to produce excellent drill results. The fact that there is an all-weather road directly linking the property to Claude’s milling operation makes the logistics of any future extraction and processing of ore from the property extremely easy. Shane is looking forward to an extensive drill program this winter to further define the gold-bearing zones on the joint venture property. Claude has many years of experience working in this area and has an excellent understanding of how to develop deposits of this type.
The 2006 exploration program was under the direction of qualified person Judy Stoeterau, PGeo, exploration manager for Claude. A rigorous quality control and quality assurance program has been implemented on all company core drill programs including blank and reference samples with each batch of assays. All core samples are analyzed by fire assay with a gravimetric finish at TSL Laboratories in Saskatoon, Sask., an ISO approved facility.
ON BEHALF OF THE BOARD
Rick Walker,
President
The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This News Release.
Contact:
Shane Resources Ltd.
Rick Walker, 306-664-3828
Facsimile: 306-244-0042
www.shaneresources.com
info@shaneresoures.com
105 – 111 Research Drive Telephone: (306) 664-3828
Saskatoon, SK S7N 3R2 Facsimile: (306) 244-0042
www.shaneresources.com info@shaneresources.com
CLAUDE RESOURCES DISCOVERS MORE GOLD ON SHANE PROPERTY
November 24, 2006 -Saskatoon, Saskatchewan – Shane Resources Ltd. (SEI – TSX Venture)
Claude Resources Inc. has provided results of the summer, 2006 exploration program on the Shane
property in Northern Saskatchewan, Canada.
The Shane property is located approximately five kilometres east of Claude's operating Seabee gold mine.
Claude owns a 75-per-cent interest in the property and Shane Resources Ltd. holds the remaining 25 per
cent.
During the summer Claude conducted a comprehensive soil geochemistry program, prospecting,
geological mapping and a core drill program totaling eight holes (2,444 metres). Results of the summer
work detailed one main mineralized horizon, traceable through drilling and prospecting for approximately
1,300 metres. This horizon typically contained one to three metres, and up to eight to 10 metres, of goldbearing
quartz-tourmaline-sulphide flooding within an east-trending shear zone. It has been drill tested
along approximately 500 to 600 metres of this 1,300-metre length.
This main mineralized horizon contains the following notable grades: 12.16 grams per tonne over 8.43
metres (6.46 metres true width) intersected in hole SHA 06-27 and 23.88 grams per tonne over 3.74
metres (2.86 metres true width) in hole SHA 06-31.
The drilling has also intersected two other quartz shear zones parallel to the main horizon. The first occurs
25 metres north of the main zone, and is fairly narrow and intermittent, but in places has visible gold
(68.14 grams over 0.29 metre in SHA 06-25). The second occurs another 50 metres to the north and is
larger and more consistent, but has lower values, generally below 6.0 grams.
The following lists significant intersections from the summer program:
SHANE PROPERTY 2006 SUMMER DRILL RESULTS
Hole From (m) To (m) Width (m) Gold (g/t) Weighted average True width (m)
gold (g/t)
SHA06-12 222.42 223.76 1.34 3.16 1.03
SHA06-25 137.86 138.86 1.00 6.16 0.77
SHA06-25 194.12 194.41 0.29 68.14 0.22
SHA06-26 104.50 105.50 1.00 3.46 0.77
SHA06-27 129.37 129.58 0.21 3.84 0.16
SHA06-27 130.82 139.25 8.43 - 12.16 (8.54(1)) 6.46
Incl. 131.82 132.82 1.00 60.51 0.77
Incl. 132.82 133.82 1.00 25.65 0.77
Incl. 136.82 137.82 1.00 7.57 0.77
Incl. 138.50 139.25 0.75 8.80 0.57
Incl. 139.62 139.86 0.24 3.88 0.18
SHA06-27 246.55 248.17 1.62 4.35 1.24
Incl. 246.55 247.45 0.90 6.31 0.69
SHA06-28 197.00 197.90 0.90 8.61 0.69
SHA06-28 294.88 295.84 0.96 4.57 0.74
SHA06-29 162.80 163.92 1.12 35.41 0.86
SHA06-29 203.00 205.32 2.32 4.98 1.78
Incl. 203.75 204.71 0.96 11.77 0.74
SHA06-30 99.40 101.22 1.82 3.47 1.39
Incl. 99.40 100.22 0.82 6.95 0.63
SHA06-30 112.40 114.53 2.13 7.05 1.63
Incl. 113.38 114.53 1.15 12.56 0.88
SHA06-31 174.75 180.00 5.25 3.58 4.02
Incl. 174.75 175.85 1.10 5.11 0.84
Incl. 178.00 179.00 1.00 11.76 0.77
SHA06-31 214.55 216.47 1.92 4.00 1.47
Incl. 214.55 215.50 0.95 6.72 0.73
SHA06-31 276.90 281.92 3.74 - 23.88 (8.52(1)) 2.86
Incl. 277.75 278.75 1.00 87.45 0.77
(1) Cutting factor of 30 grams per tonne applied
Mineralization along this structure is in the form of west-plunging lenses. The anomalous intersection of 23.88 grams per tonne over 3.74 metres in hole SHA 06-31 is the down-plunge extension of the 12.16 grams per tonne over 8.43 metres intersected in hole SHA 06-27, reflecting the strong mineral lineation measured in the field during the mapping program. Exploration will continue on the Shane property with a drill program during the winter months to test the horizon both east and west of the mineralization defined to date.
Management of Shane is very pleased to see this property continue to produce excellent drill results. The fact that there is an all-weather road directly linking the property to Claude’s milling operation makes the logistics of any future extraction and processing of ore from the property extremely easy. Shane is looking forward to an extensive drill program this winter to further define the gold-bearing zones on the joint venture property. Claude has many years of experience working in this area and has an excellent understanding of how to develop deposits of this type.
The 2006 exploration program was under the direction of qualified person Judy Stoeterau, PGeo, exploration manager for Claude. A rigorous quality control and quality assurance program has been implemented on all company core drill programs including blank and reference samples with each batch of assays. All core samples are analyzed by fire assay with a gravimetric finish at TSL Laboratories in Saskatoon, Sask., an ISO approved facility.
ON BEHALF OF THE BOARD
Rick Walker,
President
The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This News Release.
Contact:
Shane Resources Ltd.
Rick Walker, 306-664-3828
Facsimile: 306-244-0042
www.shaneresources.com
info@shaneresoures.com