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Post by Franko10 ™ on Feb 25, 2005 13:50:40 GMT -5
Pioneer Metals and Claude Resources Commence Drilling at Nokomis Gold Project (cnw)
VANCOUVER/SASKATOON, Feb. 25 /CNW/ - Pioneer Metals Corporation ("Pioneer") and Claude Resources Inc. ("Claude") announced today that drilling has commenced on their Nokomis Lake Gold Project ("Nokomis" or the "Project"). The Project is a joint venture between Pioneer (50%) and Claude (50%) with Claude acting as operator. The planned winter program includes approximately 2,000 metres of diamond drilling in 15 holes and has a total budget of $175,000 (CDN). The drilling contract has been awarded to Newmac Industries Limited of Prince Albert, Saskatchewan.
The Project consists of thirty-nine contiguous mineral claims totaling approximately 2,200 hectares (5,400 acres) and is located 7.5 kilometres north of Pioneer's 100%-owned Puffy Lake Gold Mine and milling facility, about 70 kilometres northeast of Flin Flon, Manitoba. Nokomis is a shear-related intrusive-hosted (tonalite) lode gold system. It hosts a historic mineral resource of 349,110 tonnes grading 6.10 grams per tonne gold ("gpt"). A scoping study by Kilborn Engineering Pacific Ltd. in 1996 modeled a potentially economic, near surface mineral resource of 100,000 tonnes grading in excess of 13 gpt. More recently (2000), Eckart Buhlmann, P. Geo., an independent consultant for Pioneer, estimated this mineral resource at approximately 80,000 tonnes grading 10 gpt with an average width of 4 metres. (Note: The mineral resources cited are historical estimates that do not conform to the standards outlined in sections 1.3 and 1.4 of National Instrument 43-101).
The 2005 winter drilling program at Nokomis will focus on testing targets along a 1,000 metre strike length of the host formation (tonalite) northward beyond the limit of previous drilling. The program is scheduled to be completed by March 31, 2005.
Pioneer is a public company located in Vancouver, British Columbia, whose shares trade on the Toronto Stock Exchange (TSX-PSM). Pioneer is a past gold producer now involved primarily in precious and base metals exploration. In addition to Puffy Lake, Pioneer owns 100% of the Bonito Gold-Silver Project in New Mexico, USA, and the Grace Gold-Copper Project at Galore Creek, British Columbia. Novagold Resources Inc. has an option to earn a 60% interest in the Grace Gold-Copper Project by funding $5.0 million (CDN) in expenditures by 2009.
Claude is a public company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and the American Stock Exchange (AMEX-CGR). Claude is a gold mining and exploration company with producing oil and gas assets. Since 1991, Claude has produced over 600,000 ounces of gold from its Seabee mine in northeastern Saskatchewan and is an active gold explorer with properties in Saskatchewan and Manitoba. Claude also owns the Madsen property in the Red Lake camp of northwestern Ontario, currently under option to Placer Dome.
To access Pioneer's Nokomis Lake Gold Project location map, please access Pioneer's website at: www.pioneermetals.net under "Projects - Nokomis Lake Gold Project".
ON BEHALF OF THE BOARD OF DIRECTORS OF
PIONEER METALS CORPORATION CLAUDE RESOURCES INC.
Stephen H. Sorensen, Neil McMillan,
President & C.E.O. President & C.E.O.
/For further information: Stephen H. Sorensen, President & C.E.O., Pioneer Metals Corporation, Suite 1007 - 808 Nelson Street, Vancouver, BC, Canada, V6Z 2H2, PH: (604) 669-3383, Fax (604) 669-1240; Neil McMillan, President & C.E.O., Claude Resources Inc., 200, 224 - 4th Avenue South, Saskatoon, SK, Canada, S7K 5M5, PH: (306) 668-7505, Fax (306) 668-7500/
VANCOUVER/SASKATOON, Feb. 25 /CNW/ - Pioneer Metals Corporation ("Pioneer") and Claude Resources Inc. ("Claude") announced today that drilling has commenced on their Nokomis Lake Gold Project ("Nokomis" or the "Project"). The Project is a joint venture between Pioneer (50%) and Claude (50%) with Claude acting as operator. The planned winter program includes approximately 2,000 metres of diamond drilling in 15 holes and has a total budget of $175,000 (CDN). The drilling contract has been awarded to Newmac Industries Limited of Prince Albert, Saskatchewan.
The Project consists of thirty-nine contiguous mineral claims totaling approximately 2,200 hectares (5,400 acres) and is located 7.5 kilometres north of Pioneer's 100%-owned Puffy Lake Gold Mine and milling facility, about 70 kilometres northeast of Flin Flon, Manitoba. Nokomis is a shear-related intrusive-hosted (tonalite) lode gold system. It hosts a historic mineral resource of 349,110 tonnes grading 6.10 grams per tonne gold ("gpt"). A scoping study by Kilborn Engineering Pacific Ltd. in 1996 modeled a potentially economic, near surface mineral resource of 100,000 tonnes grading in excess of 13 gpt. More recently (2000), Eckart Buhlmann, P. Geo., an independent consultant for Pioneer, estimated this mineral resource at approximately 80,000 tonnes grading 10 gpt with an average width of 4 metres. (Note: The mineral resources cited are historical estimates that do not conform to the standards outlined in sections 1.3 and 1.4 of National Instrument 43-101).
The 2005 winter drilling program at Nokomis will focus on testing targets along a 1,000 metre strike length of the host formation (tonalite) northward beyond the limit of previous drilling. The program is scheduled to be completed by March 31, 2005.
Pioneer is a public company located in Vancouver, British Columbia, whose shares trade on the Toronto Stock Exchange (TSX-PSM). Pioneer is a past gold producer now involved primarily in precious and base metals exploration. In addition to Puffy Lake, Pioneer owns 100% of the Bonito Gold-Silver Project in New Mexico, USA, and the Grace Gold-Copper Project at Galore Creek, British Columbia. Novagold Resources Inc. has an option to earn a 60% interest in the Grace Gold-Copper Project by funding $5.0 million (CDN) in expenditures by 2009.
Claude is a public company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and the American Stock Exchange (AMEX-CGR). Claude is a gold mining and exploration company with producing oil and gas assets. Since 1991, Claude has produced over 600,000 ounces of gold from its Seabee mine in northeastern Saskatchewan and is an active gold explorer with properties in Saskatchewan and Manitoba. Claude also owns the Madsen property in the Red Lake camp of northwestern Ontario, currently under option to Placer Dome.
To access Pioneer's Nokomis Lake Gold Project location map, please access Pioneer's website at: www.pioneermetals.net under "Projects - Nokomis Lake Gold Project".
ON BEHALF OF THE BOARD OF DIRECTORS OF
PIONEER METALS CORPORATION CLAUDE RESOURCES INC.
Stephen H. Sorensen, Neil McMillan,
President & C.E.O. President & C.E.O.
/For further information: Stephen H. Sorensen, President & C.E.O., Pioneer Metals Corporation, Suite 1007 - 808 Nelson Street, Vancouver, BC, Canada, V6Z 2H2, PH: (604) 669-3383, Fax (604) 669-1240; Neil McMillan, President & C.E.O., Claude Resources Inc., 200, 224 - 4th Avenue South, Saskatoon, SK, Canada, S7K 5M5, PH: (306) 668-7505, Fax (306) 668-7500/
