Owner
Post by Franko10 ™ on Nov 3, 2004 16:33:39 GMT -5
New Gold Discovery at Claude Resources'
Santoy Lake Property
Claude Resources Inc. is pleased to announce the results of drilling on the company’s Santoy Lake property, which is located about 11.5 kilometres (7 miles) from Claude's Seabee gold mine in Saskatchewan, Canada. Claude Resources Inc. completed 97 surface diamond drill holes for a total of 12,237 metres, between February and July 2004 (Map 1). The program encountered significant gold values in silicified shear zones over a strike length of four kilometres.
The Santoy property is underlain by the Pine Lake greenstone belt of metamorphosed mafic volcanic, volcaniclastic and sedimentary rocks, which have been intruded by granitoid sills. Seven gold zones had been discovered on the property during Claude’s previous prospecting programs. The 2004 holes were drilled in Zone 7 (48 holes totaling 6,164 m), Zone 8 (21 holes totaling 2,797 m), Zone 6 (5 holes totaling 598 m), and in the area between these zones (23 holes totaling 2,678 m).
The zones are hosted in a 4 kilometre long, northwest trending and northeast dipping sheared and mineralized corridor in mafic volcaniclastic rocks. Gold mineralization occurs in gold-sulfide-chlorite-quartz veins in the shear zones, near the granodiorite and granite sills. Gold bearing chlorite quartz veins 1 to 7 metres thick were routinely intercepted in the holes drilled in Zones 7 and 8. In addition, a number of holes drilled between zones 7 and 8 also intercepted high grade gold values. The results of the drilling are summarized in the following Table (see assay highlight spreadsheet). Patrick Hannon, P.Eng., Claude’s exploration manager, is the project’s qualified person and all assays were processed at TSL Laboratories in Saskatoon.
Claude plans to continue both delineation drilling and step out drilling in 2005.
An underground bulk sampling program is planned to confirm grade, continuity and the metallurgy of the gold mineralization. Permitting for this bulk sampling program has been initiated with the necessary regulatory agencies.
Management of Claude is very excited about the implication of this discovery on the immediate and long-term development of the Seabee mining camp and surrounding area.
For further information please contact:
Patrick Hannon, M.A.Sc., P.Eng.
Exploration Manager
or
Neil McMillan
President & CEO
or
Phillip E. Olson, M.Sc., P.Geo.
Vice President
Corporate Development
306.668.7505
306.668.7500 Fax
info@clauderesources.com
Santoy Lake
Locations Map
Santoy Lake Property
Claude Resources Inc. is pleased to announce the results of drilling on the company’s Santoy Lake property, which is located about 11.5 kilometres (7 miles) from Claude's Seabee gold mine in Saskatchewan, Canada. Claude Resources Inc. completed 97 surface diamond drill holes for a total of 12,237 metres, between February and July 2004 (Map 1). The program encountered significant gold values in silicified shear zones over a strike length of four kilometres.
The Santoy property is underlain by the Pine Lake greenstone belt of metamorphosed mafic volcanic, volcaniclastic and sedimentary rocks, which have been intruded by granitoid sills. Seven gold zones had been discovered on the property during Claude’s previous prospecting programs. The 2004 holes were drilled in Zone 7 (48 holes totaling 6,164 m), Zone 8 (21 holes totaling 2,797 m), Zone 6 (5 holes totaling 598 m), and in the area between these zones (23 holes totaling 2,678 m).
The zones are hosted in a 4 kilometre long, northwest trending and northeast dipping sheared and mineralized corridor in mafic volcaniclastic rocks. Gold mineralization occurs in gold-sulfide-chlorite-quartz veins in the shear zones, near the granodiorite and granite sills. Gold bearing chlorite quartz veins 1 to 7 metres thick were routinely intercepted in the holes drilled in Zones 7 and 8. In addition, a number of holes drilled between zones 7 and 8 also intercepted high grade gold values. The results of the drilling are summarized in the following Table (see assay highlight spreadsheet). Patrick Hannon, P.Eng., Claude’s exploration manager, is the project’s qualified person and all assays were processed at TSL Laboratories in Saskatoon.
Claude plans to continue both delineation drilling and step out drilling in 2005.
An underground bulk sampling program is planned to confirm grade, continuity and the metallurgy of the gold mineralization. Permitting for this bulk sampling program has been initiated with the necessary regulatory agencies.
Management of Claude is very excited about the implication of this discovery on the immediate and long-term development of the Seabee mining camp and surrounding area.
For further information please contact:
Patrick Hannon, M.A.Sc., P.Eng.
Exploration Manager
or
Neil McMillan
President & CEO
or
Phillip E. Olson, M.Sc., P.Geo.
Vice President
Corporate Development
306.668.7505
306.668.7500 Fax
info@clauderesources.com
Santoy Lake
Locations Map
