Post by Franko10 ™ on Oct 7, 2004 11:05:53 GMT -5
Deeper Drilling Successful at Claude Resource's Seabee Mine
Underground diamond drilling by Claude Resources Inc. at its Seabee gold mine has substantially expanded its recently discovered 2d zone. Previous work had outlined this structure on the 80, 140 and 190 metre levels at grades and widths above the mine's nine year production average. As announced previously, drilling above the 290-metre level averaged 9.34 grams per tonne (gpt) over 2.37 metres true width in 27 holes.
New drilling from the 290-metre level to date has produced three significant intersections near the 350 metre level and one high grade hole at the 500 metre level (vertically below surface).
Significant intersections are listed below:
Intersect True Grade
Hole Section (m) Depth Width (gpt)
U00-60 50E 340 m 7.3m 10.76
U00-74 50E 365 m 5.5m 11.03
U00-75 10E 505 m 2.3m 11.19
U00-76 15E 365 m 1.1m 8.58
The 2d vein appears to be uniquely defined by the occurrence of two shear veins hosting massive pyrite. Other drill holes in the program have established the eastern margin of the 2d vein in the upper levels, however the structure remains open on strike and at depth.
Intersections reported are length weighted averages of cored intervals assayed at the Seabee mine's onsite facility. As per standard mine practice, all assay values in excess of 75 gpt have been cut to 75 gpt.
The Seabee mine has been in continuous production since November 1991 averaging 54,000 ounces per year at a historic grade of 8.90 gpt over average widths of approximately 2 metres.
As of March 14, 2000 an independent estimation by A.C.A. Howe International established Seabee reserves and resources at 853,104 tonnes @ 8.56 gpt of reserves and 1,474,000 tonnes @ 8.00 gpt in the resource category.
Claude Resources Inc. is listed on the Toronto Stock Exchange under the symbol CRJ.
For further information please contact:
Philip E. Olson, P. Geo, Vice President Exploration
Neil McMillan, President
Phone: (306) 668-7505
Underground diamond drilling by Claude Resources Inc. at its Seabee gold mine has substantially expanded its recently discovered 2d zone. Previous work had outlined this structure on the 80, 140 and 190 metre levels at grades and widths above the mine's nine year production average. As announced previously, drilling above the 290-metre level averaged 9.34 grams per tonne (gpt) over 2.37 metres true width in 27 holes.
New drilling from the 290-metre level to date has produced three significant intersections near the 350 metre level and one high grade hole at the 500 metre level (vertically below surface).
Significant intersections are listed below:
Intersect True Grade
Hole Section (m) Depth Width (gpt)
U00-60 50E 340 m 7.3m 10.76
U00-74 50E 365 m 5.5m 11.03
U00-75 10E 505 m 2.3m 11.19
U00-76 15E 365 m 1.1m 8.58
The 2d vein appears to be uniquely defined by the occurrence of two shear veins hosting massive pyrite. Other drill holes in the program have established the eastern margin of the 2d vein in the upper levels, however the structure remains open on strike and at depth.
Intersections reported are length weighted averages of cored intervals assayed at the Seabee mine's onsite facility. As per standard mine practice, all assay values in excess of 75 gpt have been cut to 75 gpt.
The Seabee mine has been in continuous production since November 1991 averaging 54,000 ounces per year at a historic grade of 8.90 gpt over average widths of approximately 2 metres.
As of March 14, 2000 an independent estimation by A.C.A. Howe International established Seabee reserves and resources at 853,104 tonnes @ 8.56 gpt of reserves and 1,474,000 tonnes @ 8.00 gpt in the resource category.
Claude Resources Inc. is listed on the Toronto Stock Exchange under the symbol CRJ.
For further information please contact:
Philip E. Olson, P. Geo, Vice President Exploration
Neil McMillan, President
Phone: (306) 668-7505