Owner
Post by Franko10 ™ on Oct 7, 2004 11:07:32 GMT -5
Placer Dome to Proceed at Claude's Madsen Red Lake Project
Placer Dome, after due diligence, has elected to proceed with the option agreement with Claude Resources on Claude's 10,000 acre, 100% owned Madsen Red Lake and adjoining exploration property.
Placer Dome can earn a 55% interest in the property by spending CDN $8.2 million in the first three years and delivering a positive bankable feasibility study over the following 2 years.
Placer Dome is planning an aggressive program of surface drilling in two phases to evaluate the #8 zone both along strike and at depth. A total of 36,000 feet of drilling is envisaged in 2001. The initial phase of drilling, comprising approximately 15,000 feet, is planned to begin in early January, 2001.
As a result of electing to participate, Placer Dome has subscribed for 1,000,000 treasury shares of Claude at CDN $0.75 per share.
For further information please contact:
Neil McMillan, President
Phone: (306) 668-7505
Placer Dome, after due diligence, has elected to proceed with the option agreement with Claude Resources on Claude's 10,000 acre, 100% owned Madsen Red Lake and adjoining exploration property.
Placer Dome can earn a 55% interest in the property by spending CDN $8.2 million in the first three years and delivering a positive bankable feasibility study over the following 2 years.
Placer Dome is planning an aggressive program of surface drilling in two phases to evaluate the #8 zone both along strike and at depth. A total of 36,000 feet of drilling is envisaged in 2001. The initial phase of drilling, comprising approximately 15,000 feet, is planned to begin in early January, 2001.
As a result of electing to participate, Placer Dome has subscribed for 1,000,000 treasury shares of Claude at CDN $0.75 per share.
For further information please contact:
Neil McMillan, President
Phone: (306) 668-7505
