related news, goodSASKATOON, SK, May 23, 2006 (Canada NewsWire via COMTEX News Network) --
Claude Resources Inc. ("Claude") is pleased to report the results of its fall and winter exploration drill program on the wholly owned Porky Lake structural zones located approximately three kilometres (about 2 miles) northwest of Claude's Seabee gold mine in northern Saskatchewan.
The Porky Lake West and Porky Lake East ("Pigeon Lake") gold zones lie on opposite flanks of the large Porky Lake anticline, along a gold-bearing horizon which has been traced intermittently over 7.5 kilometres (4.6 miles) from the western extent of Porky West zone to the north of the Pigeon Lake zone in the east.
Drill testing from 2002 to 2005 successfully discovered two structural zones of significant mineralization, Main and Porky West. Approval to bulk sample the Porky West zone was received in June, 2005 and physical work is continuing on a decline to facilitate a 5,000 tonne bulk sample.
Seventeen core drill holes (4,830 metres) were completed in the area of the Porky West zone during the fall and winter drill programs. Results both further delineated the mineralization at Porky West and successfully extended the mineralized horizon 500 metres westward. The following table outlines highlights of the drill assay results in the Porky West extension drilling:
<< ------------------------------------------------------------------------- Hole No. From To Width True Width Gold Weighted Avg (m) (m) (g/t) Gold (g/t) ------------------------------------------------------------------------- GAS05-50 119.85 120.85 1.00 0.94 7.86 131.15 131.80 0.65 0.61 6.00 ------------------------------------------------------------------------- GAS05-51 164.60 168.20 3.60 2.56 8.62 Incl. 166.50 167.25 0.75 0.53 29.80 ------------------------------------------------------------------------- GAS05-52 160.25 161.50 1.25 1.18 18.54 Incl. 160.25 161.05 0.80 0.75 28.82 ------------------------------------------------------------------------- GAS06-54 279.50 282.50 3.00 2.31 1.33 Incl. 282.06 282.50 0.44 0.34 4.57 ------------------------------------------------------------------------- GAS06-55 248.12 248.78 0.66 0.60 4.10 ------------------------------------------------------------------------- GAS06-56 317.38 317.95 0.57 0.36 6.23 320.75 321.72 0.97 0.62 5.80 ------------------------------------------------------------------------- GAS06-57 205.60 206.30 0.70 0.66 6.57 ------------------------------------------------------------------------- GAS06-60 230.00 237.33 7.33 6.01 6.72 Incl. 233.96 234.96 1.00 0.82 45.37 ------------------------------------------------------------------------- GAS06-64* 135.40 138.24 2.84 2.47 3.45 Incl. 135.40 136.30 0.90 0.78 5.80 ------------------------------------------------------------------------- GAS06-65* 145.75 149.95 4.20 3.82 2.87 Incl. 146.95 147.95 1.00 0.91 7.07 ------------------------------------------------------------------------- GAS06-66* 160.02 165.60 5.58 4.85 6.29 Incl. 160.02 161.12 1.10 0.96 11.47 Incl. 163.60 164.70 1.10 0.96 16.67 Incl. 164.70 165.60 0.90 0.78 4.13 ------------------------------------------------------------------------- * GAS06-64, GAS06-65, and GAS06-66 are in-fill holes ------------------------------------------------------------------------- >>
In the Pigeon Lake area three core drill holes (643 metres) were successfully completed before spring shut-down. Two holes tested extensions to a previously intersected zone and the third was stepped 50 metres to the south to continue testing of the known horizon. The highlight of this drilling was the third hole which intersected the mineralized horizon and returned a weighted average of 9.40 grams per tonne over a core length of 8.04 metres (6.19 metres true width). The following table reviews highlights of the drill assay results in the Pigeon Lake drilling:
<< ------------------------------------------------------------------------- Hole No. From To Width True Width Gold Weighted Avg (m) (m) (g/t) Gold (g/t) ------------------------------------------------------------------------- PG06-1 86.85 91.06 4.21 1.09 3.50 Incl. 87.50 88.48 0.98 0.25 6.53 Incl. 90.20 91.06 0.86 0.22 4.57 PG06-1 195.60 207.15 11.55 3.00 2.11 Incl. 198.82 199.82 1.00 0.26 12.07 Incl. 199.82 200.52 0.70 0.18 4.07 PG06-1 211.05 219.19 8.14 2.12 1.66 PG06-1 224.35 226.85 2.50 0.65 1.36 ------------------------------------------------------------------------- PG06-2 143.20 145.10 1.90 1.08 4.40 Incl. 144.25 145.10 0.85 0.48 7.70 ------------------------------------------------------------------------- PG06-3 124.75 125.68 0.93 0.66 1.63 PG06-3 133.05 137.60 4.55 3.23 1.53 PG06-3 205.32 205.58 0.26 0.18 1.20 ------------------------------------------------------------------------- PG06-3 211.38 219.42 8.04 6.19 9.40 ------------------------------------------------------------------------- Incl. 213.18 214.08 0.90 0.69 19.77 Incl. 214.95 215.83 0.88 0.68 18.87 Incl. 215.83 216.66 0.83 0.64 5.37 Incl. 216.66 217.62 0.96 0.74 20.73 Incl. 217.62 218.50 0.88 0.68 14.60 ------------------------------------------------------------------------- >>
The extensive mineralized horizon at Porky Lake will continue to be explored in 2006 by surface prospecting and geochemical surveys, and by further drill testing. Work is expected to begin in June.
Claude Resources has developed road access and all surface infrastructure to support the third quarter 2006 bulk sample at the Porky West site.
Claude's President and CEO Neil McMillan stated "These results provide us with further confidence in the potential to greatly expand production at our nearby Seabee mill. Ore from these satellite deposits, Porky Lake and the rapidly developing Santoy Lake deposits, could both contribute greatly to Claude's gold production in 2007". The Santoy deposits are about 15 kilometres (9 miles) east of the Seabee mill.
Assaying was completed at the Seabee mine laboratory and at the TSL Laboratory in Saskatoon. Patrick Hannon, M.A.Sc., P.Eng., Claude's Vice President, Exploration, is Claude Resources Inc.'s qualified person.
For access to maps, figures and data from Claude's Porky Lake exploration program, visit the Claude Resources website (www.clauderesources.com).