Claude Resources Inc. Intersects High Grade Gold at Seabee Mine
"50.00 g/t over 1.0 Metre and 33.17 g/t over 2.0 Metres True Width"
TSX - CRJ
NYSE Amex - CGR
SASKATOON, April 6 /PRNewswire-FirstCall/ - Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) ("Claude" or the "Company") today reported highlights from its ongoing underground in-fill and exploration program from the Company's 100% owned and operated Seabee Project. These results are from the drill program were conducted in December 2009 and are up to date as of February 28, 2010. Highlights from the program include:
- 50.00 grams of gold per tonne over 1.1 metres true width (hole U10-610); - 33.17 grams of gold per tonne over 2.0 metres true width (hole U09-393); - 28.29 grams of gold per tonne over 2.0 metres true width (hole U09-395); and - 28.89 grams of gold per tonne over 1.9 metres true width (hole U09-401). ------------------------------------------------------------------------- ZONE INTERSECTION ----------------------------------------- GRADE GRADE HOLE NAME g/t g/t TRUE # (Target) FROM TO LENGTH MIDPT (uncut) (cut) WIDTH ------------------------------------------------------------------------- U09-391 2c 38.1 41.6 3.5 39.9 29.55 16.83 1.3 ------------------------------------------------------------------------- U09-392 2c 18.0 22.0 4.0 20.0 9.03 9.03 3.3 ------------------------------------------------------------------------- U09-393 2c 22.5 25.7 3.2 24.1 43.09 33.17 2.0 ------------------------------------------------------------------------- U09-394 2c 27.7 32.5 4.8 30.1 37.12 5.06 2.5 ------------------------------------------------------------------------- U09-395 2c 23.8 25.9 2.1 24.9 28.29 28.29 2.0 ------------------------------------------------------------------------- U09-398 2c 31.9 33.3 1.4 32.6 0.61 0.61 1.1 ------------------------------------------------------------------------- U09-399 2c 36.5 37.3 0.8 36.9 0.07 0.07 0.5 ------------------------------------------------------------------------- U09-401 2c 38.6 41.2 2.6 39.9 28.89 28.89 1.9 ------------------------------------------------------------------------- U09-402 2c 45.4 46.7 1.3 46.1 1.50 1.50 0.8 ------------------------------------------------------------------------- U09-403 2c 47.3 50.0 2.7 48.7 2.91 2.91 1.2 ------------------------------------------------------------------------- U09-404 2c 40.7 48.6 7.9 44.7 5.51 5.51 2.5 ------------------------------------------------------------------------- U09-405 2c 34.8 37.3 2.5 36.1 0.39 0.39 1.1 ------------------------------------------------------------------------- U09-406 2c 53.4 53.7 0.3 53.6 0.91 0.91 0.7 ------------------------------------------------------------------------- U09-407 2c 35.3 39.3 4.0 37.3 0.13 0.13 2.0 ------------------------------------------------------------------------- U10-601 2b 138.8 146.4 7.6 142.6 15.48 9.91 3.8 ------------------------------------------------------------------------- U10-603 2b 86.5 89.3 2.8 87.9 6.04 6.04 2.2 ------------------------------------------------------------------------- U10-604 2bs 86.8 87.7 0.9 87.3 9.73 9.73 0.6 ------------------------------------------------------------------------- U10-610 2bs 124.7 126.7 2.0 125.7 85.81 50.00 1.1 ------------------------------------------------------------------------- U10-613 2bs 95.5 96.2 0.7 95.9 20.23 20.23 0.4 ------------------------------------------------------------------------- U10-616 2c 211.1 213.0 1.9 212.1 7.16 7.16 0.9 ------------------------------------------------------------------------- U10-011 2c 93.7 97.5 3.8 95.6 39.26 17.25 2.2 ------------------------------------------------------------------------- U10-013 2b 108.8 111.0 2.2 109.9 29.59 22.92 1.2 ------------------------------------------------------------------------- U10-014 2c 88.5 91.0 2.5 89.8 13.85 13.85 1.4 ------------------------------------------------------------------------- U10-015 2c 109.9 114.9 5.0 112.4 9.91 9.91 2.4 ------------------------------------------------------------------------- U10-007 2c 91.2 95.5 4.3 93.4 15.83 15.83 2.8 ------------------------------------------------------------------------- U10-009 2c 77.9 79.1 1.2 78.5 43.02 29.41 1.0 -------------------------------------------------------------------------
Speaking today in Saskatoon, Philip Ng, Vice President, Operations stated, "These outstanding results from the core of the Seabee Project represent a near term opportunity to enhance production grades from the Seabee Mine during 2010. The enhanced definition the diamond drill program implemented during 2009 should continue to improve the economics of the Seabee Mine on a go forward basis."
In 2010, Claude will be producing from the Seabee Mine and expects to move Santoy 8 towards commercial production later this year. For the full year 2010, over 40,000 metres of surface and underground diamond drilling is planned at the Seabee Mine and its satellite deposits.
Please visit www.clauderesources.com for longitudinal and regional maps of the Seabee Project.
Claude Resources Inc. is a public company based in Saskatoon, Saskatchewan, whose shares trade on the Toronto Stock Exchange (TSX-CRJ) and the NYSE Amex (NYSE Amex-CGR). Claude is a gold exploration and mining company with an asset base located entirely in Canada. Since 1991, Claude has produced approximately 880,000 ounces of gold from its Seabee mining operation in northeastern Saskatchewan. The Company also owns 100% of the 10,000 acre Madsen property in the prolific Red Lake gold camp of northwestern Ontario.
Samples were assayed by Claude Resources Inc.'s non-accredited assay lab at the Seabee mine site. 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. Minimum sampling length was 0.3 metres while the maximum was 1.0 metre. 200 gram samples were pulverized until greater than 80% passes through 200 mesh screen. 30 gram pulp samples were then analyzed for gold by fire assay with gravimetric finish (0.01 grams per tonne detection limit). A top cut of 50 grams per tonne was used to determine cut grades. Philip Ng, P.Eng, Vice President, Mining Operations and Brian Skanderbeg, P.Geo., Vice President, Exploration, Qualified Persons, have reviewed the contents of this news release for accuracy.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This Press Release may contain 'forward-looking' statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
SOURCE CLAUDE RESOURCES INC.
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