SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2015
Commission File Number: 001-31956
Claude Resources Inc.
(Name of Registrant)
200 - 219 Robin Crescent, Saskatoon, SK, S7L
6M8
(Address of Principal Executive Office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F *
Form 40-F þ
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): *
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): *
Indicate by check mark whether by furnishing
the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes *
No þ
If "Yes" is marked, indicate below the
file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
| Claude Resources Inc. |
|
| (Registrant) |
|
| |
|
| By: /s/ Rick Johnson |
|
| Name: Rick Johnson, CPA, CA |
|
| Title: Chief Financial Officer |
Date: October 19, 2015
EXHIBIT INDEX
| Exhibit |
Description |
| |
|
| 99.1 |
News Release Dated October 19, 2015 - Claude Provides Exploration Update and Initiates Deep Drill Program at the Santoy Mine Complex |
Exhibit 99.1
Claude Provides Exploration Update and Initiates Deep
Drill Program at the Santoy Mine Complex
Highlights:
- Deepest hole to date at Santoy Gap returned 43.28 (uncut) or 30.54 (cut) grams
of gold per tonne over 1.15 metres true width at 675 metres below surface;
- Up-dip continuity at Santoy Gap confirmed by intercepts of up to 31.10 (uncut)
or 11.08 (cut) grams of gold per tonne of 7.06 metres true width; and
- Initiates 6,000 metre deep drill program at the Santoy Mine Complex
Trading Symbols: TSX: CRJ; OTCQB: CLGRF
SASKATOON, Oct. 19, 2015 /CNW/ - Claude Resources Inc.
("Claude" and or the "Company") announces positive results from its 2015 underground drill program and that
it has completed an underground drill chamber to begin drill testing the Santoy 8 plunge continuity.
Brian Skanderbeg, President and CEO commented, "We
are excited to announce that drilling is ramping up at the Santoy Mine Complex and that we are now able to follow-up on drill hole
JOY-13-692, one of the best holes ever drilled in the camp. This program is significant as there is limited drilling outside the
current resource at the Santoy Gap and Santoy 8 deposits, both of which remain open at depth Furthermore, up-dip and down-dip step-out
drilling has already expanded the mineralized footprint at Santoy Gap, returning high grade intercepts of up to 31.10 (uncut) or
11.08 (cut) grams of gold per tonne over 7.06 metres true width."
"In light of these very positive results and our continuing
strong positive free cash flow, the Company is planning an aggressive 2016 drill program and budget for the Santoy Mine
Complex. The program will focus on drilling to convert and expand the current resource and reserve and will utilize multiple underground
and surface drill platforms to explore the system to depths of up to 1,100 metres."
2015 Underground Program
The primary focus of the 2015 underground drill program has been on the infill and expansion of the Santoy Gap resource and reserve.
The program has had positive results to date and has expanded economic mineralization up-dip to the southeast and at depth. Hole
SUG-15-048 graded 43.28 (uncut) or 30.54 (cut) grams of gold per tonne over 1.15 metres and, at 675 metres depth, is the deepest
hole ever drilled at the Santoy Mine Complex. This intercept is important as it confirms continuity and demonstrates that grades
remain robust at depth; follow-up drilling in the immediate area is on-going.
Hole SUG-15-315 targeted the up-dip continuity at 140 metres
elevation and returned 31.10 (uncut) or 11.08 (cut) grams of gold per tonne of 7.06 metres true width. This high grade, wide intercept
is approximately 75 metres up-plunge from current development and links to near-surface inferred resources. Results from drilling
of the up-dip extension at Santoy Gap are consistent with underground development sampling and will be included in the year-end
resource and reserve update.
Recent highlights from the underground program are outlined
in the table below.
| |
|
|
|
|
|
| HOLE ID |
ZONE |
FROM |
UNCUT
(g/t) |
CUT(g/t) |
TRUE WIDTH
(m) |
| JOY-13-690* |
9C |
684.27 |
200.92 |
27.32 |
1.95 |
| Including |
|
684.98 |
602.00 |
|
0.33 |
| JOY-13-692* |
8A |
632.85 |
30.08 |
22.89 |
5.90 |
| SUG-15-048 |
9C |
372.40 |
43.28 |
30.54 |
1.15 |
| Including |
|
373.20 |
107.28 |
|
0.54 |
| SUG-15-051 |
9A |
188.20 |
13.58 |
13.58 |
2.93 |
| SUG-15-309 |
9A |
191.70 |
152.94 |
21.93 |
1.10 |
| Including |
|
191.70 |
561.63 |
|
0.30 |
| SUG-15-310 |
9A |
132.00 |
19.68 |
19.68 |
2.08 |
| SUG-15-312 |
9A |
216.30 |
27.65 |
27.65 |
0.43 |
| SUG-15-314 |
9A |
125.60 |
22.79 |
18.18 |
3.30 |
| SUG-15-315 |
9A |
162.60 |
31.33 |
11.08 |
7.06 |
| Including |
|
182.00 |
495.27 |
|
0.33 |
| Note: Composites were calculated using a 3.5 g/t Au cut-off grade and may include internal dilution. Assays are top cut to 75.0 g/t Au. |
| * Previously released drill intercepts |
In addition to the on-going 2015 program at Santoy Gap,
the Company has begun an additional 6,000 metre drill program to target the plunge continuity of the Santoy 8 Deposit proximal
to hole JOY-13-692, which graded 30.08 (uncut) or 22.89 (cut) grams of gold per tonne over 5.90 metres true width (See news
release May 22, 2013, "Claude Discovers Significant Extensions at the Santoy Gap and Santoy 8 Deposits"). This intercept
hosted strong visible gold and telluride mineralization within a vein system of significant true width and is associated with intense
footwall alteration. The Santoy 8 system appears to be improving with depth and the Company now has the ideal platform to test
this system. It is located 400 metres down plunge from existing Santoy 8 infrastructure and 250 metres from the Santoy Gap
inferred resources. Drilling will test from 450 metres to 800 metres below surface with drill spacing between 50 and 100 metres.
This program is of particular significance as drill testing of the continuity between the Santoy Gap and Santoy 8 deposits is limited
and the inferred resources remain open along strike, down dip and down plunge.
During 2015, the Company forecasts to set a new annual
gold production record by producing 70,000 to 75,000 ounces of gold at an all-in sustaining cost per ounce (1) of 1,065
- $1,175 (U.S. $830 - $920 (2)). At September 30, 2015, the Company had $27.0 (3) million in cash and bullion.
To view a map outlining current drill results and the target
areas for the 2015 drill programs, please click here: http://www.clauderesources.com/html/operations/exploration/Seabee_Mine/index.cfm
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. and M.Sc., President and CEO, Qualified Person, has reviewed the contents of this
news release for accuracy.
Footnotes
| (1) |
Denotes a non-IFRS measure. For an explanation of this and other non-IFRS measures, refer to the "Non-IFRS Financial Measures and Reconciliations" in the Company's most recently filed MD&A available on the Company's website at www.clauderesources.com or on www.sedar.com or www.sec.gov. |
| (2) |
Forecast uses a foreign exchange rate assumption of $1.28 CDN$/U.S.$. |
| (3) |
Cash and bullion relates to current cash on hand of $24.5 million and $2.5 million of bullion (gold poured in dore bars which has not yet been sold and is valued at market prices). |
Claude Resources Inc. is a publicly traded gold
exploration and mining company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX: CRJ) and
the OTCQB (OTCQB: CLGRF). Its asset base is located entirely in Canada and 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 "Risk Factors" 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.
CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING RESOURCE
ESTIMATE
The resource estimates in this document were prepared in accordance with National Instrument 43-101, adopted by the Canadian Securities
Administrators. The requirements of National Instrument 43-101 differ significantly from the requirements of the United States
Securities and Exchange Commission (the "SEC"). In this document, we use the terms "measured", "indicated"
and "inferred" resources. Although these terms are recognized and required in Canada, the SEC does not recognize them.
The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that constitute "reserves".
Under United States standards, mineralization may not be classified as a reserve unless the determination has been made that the
mineralization could be economically and legally extracted at the time the determination is made. United States investors should
not assume that all or any portion of a measured or indicated resource will ever be converted into "reserves". Further,
"inferred resources" have a great amount of uncertainty as to their existence and whether they can be mined economically
or legally, and United States investors should not assume that "inferred resources" exist or can be legally or economically
mined, or that they will ever be upgraded to a higher category.
SOURCE Claude Resources Inc.
%CIK: 0001173924
For further information: Brian Skanderbeg, President & CEO, Phone:
(306) 668-7505 or Marc Lepage, Manager, Investor Relations, Phone: (306) 668-7501, Email: ir@clauderesources.com, Website: www.clauderesources.com
CO: Claude Resources Inc.
CNW 09:00e 19-OCT-15