Claude bullish at Santoy Lake

Claude Resources (CRJ-T) has hit significant gold at its Santoy Lake property, 125 km northeast of La Ronge, Sask.

The drilling was concentrated in Zone 7, where one hole intersected four intervals over a 3.9-metre section grading 11.4-89.67 grams gold over widths of 0.4-0.8 metre. This was followed by a 0.65-metre intercept of 8.91 grams gold.

Another hole cut 2.18 metres that contained three intervals ranging from 0.65 to 0.83 metre wide and assaying 10.5-12.44 grams gold per tonne. A third hole assayed up to 31.36 grams gold over 1.17 metres, followed directly by half a metre grading 26.43 grams gold and continuing with 0.6 metre grading 6.9 grams gold.

Zone 7 was tested by 48 holes totalling 6,164 metres; nineteen of these contained at least one assay greater than 10 grams gold per tonne. Thirty-three intercepts in 19 holes graded from 10.43 to 134.43 grams gold over 0.15-1.25 metres. Thirteen holes cut intercepts from 1 to 8.9 grams gold over 0.4-1.75 metres. Sixteen of the holes failed to cut gold grades greater than 1 gram gold per tonne.

Zone 7 is 3 km northwest of zone 8. Both are within a 4-km-long northwest-trending shear zone that follows stratigraphy and dips northeast. Gold is associated with quartz veins containing sulphide and chlorite. The veins are in sheared mafic volcanic rock or chlorite actinolite schist and are either near or within granodiorite sills. In zones 7 and 8, drilling cut chlorite-quartz veins 1-7 metres wide

Drilling in zone 8 (21 holes totalling 2,797 metres) resulted in six holes intersecting at least 10.45-39.67 grams gold over 0.3-1.1 metres. Highlighting this drilling is hole 121, which cut three intervals (1.8 metres over a 2.7-metre total intercept) grading 12.7-39.67 grams gold per tonne. Another six holes hit intercepts grading 1.1-4.75 grams gold over 0.3-1.55 metres. A nearby parallel structure also cut significant gold, 10.2-10.3 grams over 1.2 metres, adjacent to 1 metre grading 7.15 grams gold.

Twenty-three holes were drilled between zones 7 and 8. Highlighting this drilling is one hole that cut 1.25 metres grading 34.36 grams gold. Ten other holes cut intercepts of 1.5-76.07 grams gold over 0.4-1.4 metres. Twelve holes failed to intersect gold grades greater than 1 gram gold per tonne.

Patrick Hannon, Claude Resources’ exploration manager, says the company will be drilling this winter, and if permitting is complete, a bulk sample will be taken.

Five holes (598 metres in total) tested zone 6 (less than 1 km south of zone 7) but failed to intersect the structure seen at surface.

The property is 11.5 km east of Claude’s Seabee gold mine. In 2003, Seabee produced 50,800 oz. gold from 209,000 tonnes grading 7.95 grams gold per tonne. The mine has an estimated mineral reserve of 674,700 tonnes grading 7.48 grams gold, plus 2 million tonnes in the inferred category.

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