Toronto Stock Exchange
Trading symbol - CRJ
AMEX - CGR
SASKATOON, Feb. 5 /CNW Telbec/ - Claude Resources (TSX: CRJ / AMEX: CGR)
today released the results of an extensive 2007 exploration drill program on
the Santoy 8 and 8E deposits of the Seabee region in northern Saskatchewan.
Highlights of the exploration program include the following (full results
available on the Claude Resources Inc. website at www.clauderesources.com):
Hole ID Grams /Tonne Width (m)
JOY-07-246 63.15 0.80
JOY-07-258 15.57 2.82 Including 26.44 g/t over 1.47 m.
JOY-07-285 105.07 0.99
JOY-07-286 24.31 10.88 Including 23.08 g/t over 1.01 m.
Including 140.95 g/t over 1.00 m.
Including 22.68 g/t over 1.03 m.
Including 48.57 g/t over 1.03 m.
JOY-07-288 11.07 5.99 Including 25.01 g/t over 0.97 m.
Including 32.07 g/t over 0.95 m.
JOY-07-289 20.39 2.04 Including 39.40 g/t over 0.99 m.
JOY-07-295 10.75 4.60 Including 28.26 g/t over 1.42 m.
JOY-07-297 18.16 3.46 Including 44.65 g/t over 1.05 m.
JOY-07-404 9.87 4.07 Including 22.16 g/t over 1.22 m.
JOY-07-407 30.49 1.35
JOY-07-410 33.36 5.02 Including 119.40 g/t over 1.25 m.
JOY-07-423 17.42 4.77 Including 33.27 g/t over 2.01 m.
JOY-07-424 23.19 2.03 Including 38.72 g/t over 1.00 m.
JOY-07-426 12.71 3.25 Including 28.31 g/t over 1.20 m.
JOY-07-426 19.40 1.54
JOY-07-478 48.82 2.40
JOY-07-479 314.25 1.74
JOY-07-482 46.95 1.05
JOY-07-485 12.91 3.18
JOY-07-489 13.76 4.96
"The results reported today have significantly extended mineralization
and proved continuity within the Santoy 8 and 8E deposits which are located
within twelve kilometres of the Seabee mill," stated Claude Resources
Exploration Manager Brian Skanderbeg. "Mineralization remains open down plunge
as well as to the north of the Santoy 8 and 8E zones."
The drill program, carried out between January and November 2007, was
comprised of 144 diamond drill holes totaling 31,610 metres in Santoy 8
(23,380 m in 101 holes) and Santoy 8E (8,230 m in 43 holes). The program
provided 25-meter infill data to a depth of 250 metres on the deposits as well
as testing strike and plunge extensions. Gold mineralization at Santoy 8 has
been confirmed over a strike length of 600 metres, a dip length of 350 metres
and remains open along strike and down plunge to the north. Santoy 8E has been
intercepted over a strike length of 200 metres, a dip length of 250 metres and
remains open along strike and down plunge to the north. True thickness of
Santoy 8 and 8E deposits varies from 1.5 to 30 metres.
Drilling of the Santoy 8 and 8E deposits conducted up to September 2005
defined an inferred resource of 910,000 tonnes at 8.7 g/t uncut and 6.1 g/t
with a top cut of 30.0 g/t. Claude Resources is in the process of producing a
revised 43-101 resource calculation.
Philip Ng, P.Eng. and Claude's Vice-President of Mining Operations, is
the Qualified Person who has reviewed and approved this news release. Drill
core was halved and samples averaging 1.0 - 1.5 meters were submitted to TSL
Laboratory, an ISO approved facility, in Saskatoon, Saskatchewan. Rigorous
quality assurance and quality control procedures have been implemented
including the use of blanks, standards and duplicates (1 in 10 samples). Core
samples were analyzed by a 30 gram gold fire assay with an atomic absorption
and gravimetric finish. Intercepts are reported as drilled widths and range
from 70% to 95% of true widths. Composite intervals were calculated using a
3.00 g/t cut-off and may include internal dilution.
Claude Resources Inc. 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 exploration and
mining company. The Company also owns producing oil and natural gas assets.
The Company's entire asset base is located in Canada. Since 1991, Claude has
produced approximately 800,000 ounces of gold from its Seabee mine 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.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking statements relating
but not limited to the Company's expectations, intentions, plans and beliefs.
Forward-looking information can often be identified by forward-looking words
such as "anticipate", "believe", "expect", "goal", "plan", "intent",
"estimate", "may" and "will" or similar words suggesting future outcomes or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Forward-looking information may
include reserve and resource estimates, estimates of future production, unit
costs, costs of capital projects and timing of commencement of operations, and
is based on current expectations that involve a number of business risks and
uncertainties. Factors that could cause actual results to differ materially
from any forward-looking statement include, but are not limited to, failure to
establish estimated resources and reserves, the grade and recovery of mined
ore varying from estimates, capital and operating costs varying significantly
from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of
projects and other factors. Forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to differ
materially from expected results.
Potential shareholders and prospective investors should be aware that
these statements are subject to known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially from those
suggested by the forward-looking statements. Shareholders are cautioned not to
place undue reliance on forward-looking information. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the possibility
that the predictions, forecasts, projections and various future events will
not occur. Claude Resources undertakes no obligation to update publicly or
otherwise revise any forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law.
%SEDAR: 00000498E %CIK: 0001173924
For further information:
For further information: Neil McMillan, President & CEO, Claude
Resources Inc., (306) 668-7505, Fax: (306) 668-7500; Brian Skanderbeg,
Exploration Manager, Claude Resources Inc., (306) 668-7505, Fax: (306)
668-7500; email@example.com; www.clauderesources.com;
Renmark Financial Communications Inc.: Neil Murray-Lyon:
firstname.lastname@example.org; James Buchanan:
email@example.com; (514) 939-3989, Fax: (514) 939-3717,