Claude Resources Intercepts 3.71 oz/ton over 2.5 feet at Madsen Deep

    "Extends Historic High Grade 8 Zone Mineralization down Plunge"

    Toronto Stock Exchange
    Trading symbol - CRJ
    AMEX - CGR

    SASKATOON, Feb. 17 /CNW/ - Claude Resources Inc. (TSX-CRJ; AMEX-CGR)
today reported initial results from its 2009 8 Zone underground drill program
at its Madsen Project, Red Lake, Ontario.

    Hole ID       From     Length     Au      Length     Au      VG Noted
                   (m)      (m)      (g/t)     (ft)    (oz/t)
    MUG-08-01    883.00     0.75    127.12     2.46     3.71         X

    Claude launched Phase 1 of the underground program, from the 10th level
in December 2008, targeting the 8 Zone system with 12,000 meters of drilling.
The assay reported today confirms the high grade mineralization 130 feet down
plunge of historic mine development and is consistent with historic drilling
immediately above and below the 27th level that returned drill intercepts
including 0.81 oz/ton over 14.4 feet, 2.76 oz/ton over 6.6 feet, 2.22 oz/ton
over 3 feet and 1.25 oz/ton over 3 feet.
    Mineralization is hosted within a visible gold-bearing quartz vein system
within a sequence of silica-biotite-talc altered basalts proximal to a major
ultramafic contact.
    "The abundant visible gold and geologic setting of this first intercept
supports our belief that the 8 Zone is a high grade gold system. This is a
positive first intercept of our 20 hole, Phase I underground drill program at
Madsen," stated Brian Skanderbeg, Vice-President Exploration, Claude Resources
    Madsen is an advanced exploration property containing extensive
infrastructure including a 500 tonne per day mill with expansion capacity, a
permitted tailings management facility and a five compartment 4,000 foot
operating shaft.
    A Madsen property location map and cross section of the Madsen mine as
well as photographs of the intercept are available on the Claude's website

    Brian Skanderbeg, P.Geo. and M.Sc., Claude's Vice-President Exploration,
is the Qualified Person who has reviewed and approved this news release. Drill
core was halved and samples averaging 1.0 to 1.5 meters were submitted to
Accurassay Laboratories in Thunder Bay, Ontario, an ISO approved facility.
Rigorous quality assurance and quality control procedures have been
implemented including the use of blanks, standards and duplicates (1 in 20
samples). Core samples were analyzed by a 30 gram gold fire assay with an
atomic absorption, conventional gravimetric and/or screen fire techniques.
Intercepts are reported as drilled widths and interpreted to vary between 75%
to 90% of true widths.

    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's entire asset base is located in Canada. Since
1991, Claude has produced approximately 835,000 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.


    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: Brian Skanderbeg, Vice President Exploration,
Claude Resources Inc., Phone: (306) 668-7505; or Neil McMillan, President &
CEO, Claude Resources Inc., Phone: (306) 668-7505, Email:, Website:

Organization Profile

Claude Resources Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890