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.