Claude Resources Hits High-Grade Gold at Madsen
Claude Resources (CRJ.TSX, AMEX: CGR) provided a summary of 2012 exploration activities at the Company’s 100%-owned Madsen Project in Red Lake, Ontario. The Canadian gold producer reported that 2012 drilling continued to expand the 8 Zone plunge at depth and demonstrated significant depth extension to the Austin and McVeigh Tuff. Claude Resources also noted that based on the results, the significant existing resource base and advanced infrastructure, the Company believes that the Madsen Project warrants scoping level analysis.
Highlights:
* 14.30 grams per tonne (g/t) of gold over 2.0 meters (m) in hole AD-11-01 at Austin Tuff
* 6.52 g/t over 2.0 m in hole MUG-12-18d at 8 Zone Main
*26.50 g/t over 2.0 m in hole MUG-12-20 at 8 Zone Main
* 17.70 g/t over 2.0 m in hole MUG-12-29 at McVeigh Tuff
Brian Skanderbeg, Senior Vice President and COO of Claude Resources:
“Phase I and II drill programs at Madsen were very successful in confirming and extending the 8 Zone and Austin and McVeigh systems. We have demonstrated that Madsen is a high grade gold project that has strong vertical continuity, remaining open at depth and along strike to the northeast.”
Paolo Lostritto, National Bank Financial:
“CRJ released exploration results from Madsen, which continues to highlight the projects high-grade potential.”
2012-11-20 13:01:04
Source: http://www.goldalert.com/2012/11/claude-resources-hits-high-grade-gold-at-madsen-2/
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