Trading Symbols: TSX: CRJ; OTCQB: CLGRF
SASKATOON, April 21, 2014 /PRNewswire/ - Claude Resources
Inc. ("Claude" and or the "Company") today provided an update
from its 2013 underground drilling program at the Seabee Gold
Operation. The underground drilling program drilled approximately
50,000 metres in an on-going effort to expand and better define the
Seabee Gold Operation's current resource.
Highlights include (cut grade over true
widths):
Seabee Mine:
- Hole: U13-061: 13.16 g/t over 4.7 metres;
- Hole: U13-066: 8.27 g/t over 7.8 metres;
- Hole: U13-075: 12.23 g/t over 10.7 metres;
- Hole: U13-076: 22.62 g/t over 6.1 metres;
- Hole: U13-077: 23.58 g/t over 4.8 metres;
- Hole: U13-087: 31.32 g/t over 2.5 metres;
- Hole: U13-089: 49.02 g/t over 2.0 metres; and
- Hole: U13-321: 31.54 g/t over 5.2 metres.
Santoy Mining Complex (Santoy 8 Mine and
Santoy Gap Deposit):
- Hole: SUG-13-905A: 13.28 g/t over 3.5 metres;
- Hole: SUG-13-301: 17.32 g/t over 4.0 metres;
- Hole: SUG-13-320: 9.64 g/t over 4.4 metres;
- Hole: SUG-13-335: 10.34 g/t over 6.5 metres;
- Hole: SUG-13-347: 13.90 g/t over 5.7 metres; and
- Hole: SUG-13-355: 6.09 g/t over 8.5 metres.
Brian Skanderbeg,
Senior Vice President and COO stated, "We continue to have great
success in our on-going underground drill program at the Seabee
Gold Operation. These results not only indicate the potential to
mine higher grade tonnes but also demonstrate the opportunity and
the long term viability that exists within and outside our current
resources. Additionally, these results are located near current
mining activities and require minimal capital and time to be
included in the Company's life of mine."
In 2014, drilling at the Seabee Gold Operation
will be focused on targets proximal to infrastructure with the
potential to materially impact near-term production and to
positively impact the Company's Mineral Reserves and Mineral
Resources. Underground drilling at the Seabee Gold Operation
is anticipated to consist of 18,000 metres at the Seabee Mine and
34,000 metres at the Santoy Mining Complex. Specifically at Santoy
Gap, the Company currently has two underground drill rigs that are
active and are targeting to drill 27,000 metres in 2014. The Santoy
Gap is expected to produce initial development ore during the
second quarter and production ore in the fourth quarter. Completion
of the Santoy Gap fresh-air vent raise, a key milestone to
initiating production, is planned during the second quarter of
2014.
Table 1: Highlights from the 2013 Underground
Drilling Program
HOLE # |
ZONE
INTERSECTION |
MIDPOINT COORDINATES |
GRADE
g/T (uncut) |
GRADE
g/T (cut) |
TRUE
WIDTH |
NAME
(Target) |
FROM |
TO |
NORTH |
EAST |
ELEV. |
SUG-13-905A |
8a |
122.5 |
126.5 |
5021.1 |
4623.3 |
-271.4 |
13.28 |
13.28 |
3.5 |
SUG-13-912 |
8a |
226.5 |
230.3 |
5086.7 |
4674.3 |
-378.9 |
10.90 |
10.90 |
2.1 |
SUG-13-921 |
8a |
252.1 |
270.7 |
5104.9 |
4731.3 |
-387.9 |
3.97 |
3.97 |
8.5 |
SUG-13-922 |
8a |
259.7 |
284.6 |
5093.8 |
4774.7 |
-370.7 |
20.00 |
7.75 |
2.7 |
SUG-13-301 |
GAP |
91.0 |
96.5 |
4895.3 |
4149.0 |
-275.8 |
18.46 |
17.32 |
4.0 |
SUG-13-315 |
GAP |
119.0 |
120.8 |
4852.2 |
4147.0 |
-223.8 |
18.49 |
18.49 |
1.2 |
SUG-13-320 |
GAP |
158.6 |
167.4 |
4862.5 |
4077.4 |
-251.5 |
9.64 |
9.64 |
4.4 |
SUG-13-322 |
GAP |
159.6 |
165.7 |
4871.8 |
4073.4 |
-263.6 |
13.55 |
13.55 |
2.9 |
SUG-13-328 |
GAP |
151.2 |
156.7 |
4861.0 |
4089.8 |
-247.2 |
9.27 |
9.27 |
2.9 |
SUG-13-329 |
GAP |
112.1 |
114.8 |
4888.7 |
4129.5 |
-275.8 |
10.88 |
10.88 |
1.9 |
SUG-13-332 |
GAP |
101.0 |
104.3 |
4886.5 |
4140.6 |
-260.3 |
27.71 |
16.72 |
2.3 |
SUG-13-335 |
GAP |
81.6 |
89.5 |
4890.8 |
4166.0 |
-261.8 |
10.34 |
10.34 |
6.5 |
SUG-13-337 |
GAP |
153.9 |
158.2 |
4868.1 |
4083.2 |
-259.1 |
18.84 |
13.07 |
2.2 |
SUG-13-340 |
GAP |
161.2 |
168.3 |
4891.1 |
4068.3 |
-291.1 |
15.19 |
10.69 |
3.5 |
SUG-13-343 |
GAP |
126.9 |
131.3 |
4890.2 |
4108.9 |
-280.7 |
9.63 |
9.63 |
2.7 |
SUG-13-345 |
GAP |
99.7 |
102.8 |
4865.1 |
4176.1 |
-221.5 |
10.45 |
10.45 |
2.1 |
SUG-13-347 |
GAP |
71.6 |
78.0 |
4892.7 |
4185.3 |
-256.1 |
16.02 |
13.90 |
5.7 |
SUG-13-353 |
GAP |
174.5 |
178.5 |
4072.3 |
4928.0 |
-343.6 |
12.43 |
12.43 |
1.8 |
SUG-13-355 |
GAP |
78.0 |
88.4 |
4878.0 |
4203.5 |
-236.8 |
6.09 |
6.09 |
8.5 |
SUG-13-366 |
GAP |
180.3 |
189.0 |
4984.9 |
4123.7 |
-397.1 |
7.66 |
7.66 |
3.7 |
U13-015 |
2c |
294.6 |
305.0 |
1138.0 |
1514.0 |
-895.0 |
7.94 |
7.94 |
4.2 |
U13-017 |
2c |
197.4 |
203.0 |
1132.3 |
1603.3 |
-667.1 |
11.76 |
11.76 |
4.3 |
U13-027 |
2c |
201.6 |
206.4 |
1187.6 |
873.7 |
-801.5 |
8.25 |
8.25 |
3.2 |
U13-028 |
2c |
215.7 |
219.4 |
1186.8 |
873.2 |
-819.4 |
14.92 |
12.48 |
2.3 |
U13-046 |
2c |
194.1 |
197.2 |
1188.3 |
878.2 |
-787.8 |
9.74 |
9.74 |
2.1 |
U13-051 |
2c |
222.4 |
228.1 |
1186.3 |
883.6 |
-825.0 |
9.20 |
9.20 |
3.9 |
U13-057 |
2c |
341.2 |
346.8 |
1163.0 |
889.5 |
-966.7 |
17.33 |
9.65 |
2.1 |
U13-608 |
2c |
259.3 |
261.6 |
1158.3 |
1006.2 |
-784.2 |
21.63 |
21.63 |
1.5 |
U13-609 |
2c |
288.7 |
290.6 |
1154.8 |
1007.1 |
-821.5 |
38.15 |
38.15 |
1.2 |
U13-610 |
2c |
310.1 |
314.5 |
1152.0 |
1007.0 |
-849.2 |
9.69 |
9.69 |
2.5 |
U13-612 |
2c |
203.5 |
208.5 |
1178.5 |
987.2 |
-677.6 |
9.62 |
9.62 |
4.3 |
U13-613 |
2c |
222.0 |
224.7 |
1178.3 |
979.1 |
-711.3 |
8.75 |
8.75 |
2.2 |
U13-614 |
2c |
232.8 |
237.2 |
1167.9 |
986.1 |
-741.7 |
6.66 |
6.30 |
3.1 |
U13-626 |
2b |
294.0 |
297.1 |
1152.4 |
1015.1 |
-829.7 |
46.60 |
16.61 |
2.0 |
U13-060 |
L62 |
85.5 |
98.2 |
944.4 |
1057.9 |
-390.4 |
3.10 |
3.10 |
6.8 |
U13-061 |
L62 |
81.3 |
88.8 |
940.4 |
1057.9 |
-376.1 |
13.96 |
13.16 |
4.7 |
U13-062 |
L62 |
91.4 |
98.3 |
927.4 |
1072.5 |
-367.2 |
30.57 |
11.58 |
4.4 |
U13-063 |
L62 |
87.2 |
90.6 |
926.0 |
1071.1 |
-349.7 |
13.04 |
13.04 |
2.4 |
U13-064 |
L62 |
98.2 |
107.8 |
934.5 |
1070.8 |
-392.1 |
8.26 |
6.58 |
5.2 |
U13-066 |
L62 |
90.8 |
107.3 |
947.3 |
1055.0 |
-403.0 |
13.13 |
8.27 |
7.8 |
U13-071 |
L62 |
134.2 |
137.0 |
917.0 |
1105.5 |
-395.0 |
7.98 |
7.98 |
1.7 |
U13-072 |
L62 |
139.5 |
144.6 |
913.5 |
1118.8 |
-399.3 |
13.69 |
12.43 |
2.8 |
U13-075 |
L62 |
75.1 |
93.4 |
944.6 |
1049.9 |
-381.6 |
28.07 |
12.23 |
10.7 |
U13-076 |
L62 |
52.7 |
60.2 |
950.7 |
1036.9 |
-341.1 |
27.05 |
22.62 |
6.1 |
U13-077 |
L62 |
56.7 |
63.5 |
956.2 |
1037.2 |
-359.8 |
39.24 |
23.58 |
4.8 |
U13-080 |
L62 |
77.4 |
86.9 |
952.1 |
1048.4 |
-386.0 |
15.04 |
11.50 |
4.5 |
U13-081 |
L62 |
41.1 |
46.7 |
964.7 |
1026.5 |
-339.8 |
8.94 |
6.80 |
4.9 |
U13-087 |
L62 |
61.5 |
64.4 |
950.9 |
1033.7 |
-291.0 |
35.79 |
31.32 |
2.5 |
U13-088 |
L62 |
58.1 |
64.0 |
944.5 |
1035.3 |
-312.9 |
12.05 |
12.05 |
5.3 |
U13-089 |
L62 |
67.0 |
69.4 |
943.3 |
1045.7 |
-295.7 |
82.86 |
49.02 |
2.0 |
U13-092 |
L62 |
82.3 |
84.9 |
934.8 |
1063.5 |
-286.0 |
120.27 |
33.69 |
1.8 |
U13-093 |
L62 |
81.8 |
83.8 |
930.1 |
1067.8 |
-303.8 |
25.56 |
24.94 |
1.4 |
U13-312 |
L62 |
65.9 |
69.7 |
929.3 |
1097.8 |
-521.9 |
8.59 |
8.59 |
3.8 |
U13-316 |
L62 |
72.4 |
75.8 |
948.3 |
1065.3 |
-519.8 |
10.22 |
10.22 |
3.0 |
U13-321 |
L62 |
93.4 |
101.8 |
966.4 |
1044.0 |
-472.7 |
65.88 |
31.54 |
5.2 |
To view longitudinal sections and plan maps of
the Seabee Gold Mine and the Santoy Mine Complex please go to
www.clauderesources.com.
In addition, the Company also announces that
Peter Longo, Vice President of
Mining Operations, has left the Company to pursue other interests.
Mr. Longo's responsibilities will be assumed by Brian Skanderbeg, Senior Vice President and
Chief Operating Officer. The Company thanks Mr. Longo for his
efforts and contributions and wishes him the best in his future
endeavours.
Samples were assayed by Claude's onsite
non-accredited assay lab at the Seabee Gold Operation. Duplicate
check assays were conducted at site as well as at TSL Laboratories
in Saskatoon. Results of the spot
checks were consistent with those reported. Sampling interval was
established by minimum or maximum sampling lengths and geological
and/or structural criteria. 200 gram samples were pulverized
until greater than 80 percent passes through 150 mesh screen. 30
gram pulp samples were then analyzed for gold by fire assay with
gravimetric finish (0.01 grams per tonne detection limit).
Brian Skanderbeg, P.Geo., Senior
Vice President and COO, Qualified Person, has reviewed the contents
of this news release for accuracy.
Claude Resources Inc. is a public company
based in Saskatoon, Saskatchewan,
whose shares trade on the Toronto Stock Exchange (TSX: CRJ) and the
OTCQB (OTCQB: CLGRF). Claude is a gold exploration and mining
company with an asset base located entirely in Canada. Since 1991, Claude has produced over
1,000,000 ounces of gold from its Seabee Gold Operation in
northeastern Saskatchewan. The
Company also owns 100 percent of the Amisk Gold Project in
northeastern Saskatchewan.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of
historical fact, contained or incorporated by reference in this
news release and constitute "forward-looking information"
within the meaning of applicable Canadian securities laws and
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 (referred
to herein as "forward-looking statements"). Forward-looking
statements include, but are not limited to, statements with respect
to the future price of gold, the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines,
currency exchange rate fluctuations, requirements for additional
capital, government regulation of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims
and limitations on insurance coverage. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate" or
"believes", or the negative connotation thereof or variations of
such words and phrases or state that certain actions, events or
results, "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on
various assumptions, including, without limitation, the
expectations and beliefs of management, the assumed long-term price
of gold, that the Company will receive required permits and access
to surface rights, that the Company can access financing,
appropriate equipment and sufficient labour, and that the political
environment within Canada will
continue to support the development of mining projects in
Canada.
Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
of Claude to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to: actual results of current exploration activities;
environmental risks; future prices of gold; possible variations in
ore reserves, grade or recovery rates; mine development and
operating risks; accidents, labour issues and other risks of the
mining industry; delays in obtaining government approvals or
financing or in the completion of development or construction
activities; and other risks and uncertainties, including but not
limited to those discussed in the section entitled "Business Risk"
in the Company's Annual Information Form. These risks and
uncertainties are not, and should not be construed as being,
exhaustive.
Although Claude has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements.
Forward-looking statements in this news release
are made as of the date of this news release and accordingly, are
subject to change after such date. Except as otherwise
indicated by Claude, these statements do not reflect the potential
impact of any non-recurring or other special items that may occur
after the date hereof. Forward-looking statements are
provided for the purpose of providing information about
management's current expectations and plans and allowing investors
and others to get a better understanding of our operating
environment.
Claude does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
SOURCE Claude Resources Inc.