Owner
Post by Franko10 ™ on Oct 7, 2004 11:18:11 GMT -5
Claude Announces
Madsen Exploration Program
Claude Resources Inc is pleased to announce that Placer Dome (CLA) Canada has tabled its 2002 work program and confirmed a May starting date on the Madsen (Red Lake) property optioned from Claude. With a $1.2 million commitment and a proposed drill program of approximately 10,000 meters in two phases, Placer intends to aggressively pursue several target areas with the potential to host high-grade lode gold.
Using its 2001 drill data as a platform, Placer has identified five targets at or near the Balmer assemblage mafic/ultramafic contact that may represent the northeast extension of the system hosting the high-grade No. 8 Zone. Diamond drilling in 2001 successfully established the trace of the host stratigraphy to the northeast of the mine. Further, it encountered significant alteration, structure and modest gold values. Surface fieldwork, including ground traverses, soil and mobile metal ion (MMI) geochemical sampling, has identified a number of prospective targets. Integrating these anomalies with reinterpreted airborne magnetic and derivative data plus digital terrain mapping shadow plots, has further refined Placer’s ability to vector in on a number of high quality targets to be tested in 2002.
Several of the targets identified possess geological settings either very similar or identical to the setting of the No. 8 Zone. The combination of favourable stratigraphy, structure and elevated gold values makes these targets priorities for Placer Dome’s 2002 exploration program on the Madsen property.
Placer may earn a 55% interest in the Madsen property by delivering a bankable feasibility study on or before November 2006.
For further information please contact:
Neil McMillan, President
Claude Resources Inc.
(306) 668-7505
Madsen Exploration Program
Claude Resources Inc is pleased to announce that Placer Dome (CLA) Canada has tabled its 2002 work program and confirmed a May starting date on the Madsen (Red Lake) property optioned from Claude. With a $1.2 million commitment and a proposed drill program of approximately 10,000 meters in two phases, Placer intends to aggressively pursue several target areas with the potential to host high-grade lode gold.
Using its 2001 drill data as a platform, Placer has identified five targets at or near the Balmer assemblage mafic/ultramafic contact that may represent the northeast extension of the system hosting the high-grade No. 8 Zone. Diamond drilling in 2001 successfully established the trace of the host stratigraphy to the northeast of the mine. Further, it encountered significant alteration, structure and modest gold values. Surface fieldwork, including ground traverses, soil and mobile metal ion (MMI) geochemical sampling, has identified a number of prospective targets. Integrating these anomalies with reinterpreted airborne magnetic and derivative data plus digital terrain mapping shadow plots, has further refined Placer’s ability to vector in on a number of high quality targets to be tested in 2002.
Several of the targets identified possess geological settings either very similar or identical to the setting of the No. 8 Zone. The combination of favourable stratigraphy, structure and elevated gold values makes these targets priorities for Placer Dome’s 2002 exploration program on the Madsen property.
Placer may earn a 55% interest in the Madsen property by delivering a bankable feasibility study on or before November 2006.
For further information please contact:
Neil McMillan, President
Claude Resources Inc.
(306) 668-7505
