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The 8 Zone Trend was mined between the 2300 and 2700 levels from its discovery in 1969 until the mine’s closure in 1976. Underground mapping and historic documentation shows the development of a series of high-grade quartz-vein systems and silicification associated with a complexly-folded package of mafic and ultramafic lithologies. The system remains open in all directions and shows strong similarities to high grade mineralization presently being mined at Goldcorp’s Red Lake Complex as well as Rubicon’s F2 system. 2011 Drill Program Drilling successfully extended the 8 Zone plunge to approximately 250 metres down plunge of previous drilling as well as discovered significant depth extensions to the McVeigh Tuff. Based on these encouraging results, the Company approved a 29,000 metre, underground and surface-based drill program for 2012. Highlights from the latest drill results are summarized below and in Table 1 and Figures 1 and 2.
· 15.70 grams Au per tonne over 2.00 metres in MUG-11-13 - McVeigh Tuff
· 6.27 grams Au per tonne over 2.00 metres in MUG-11-14 - McVeigh Tuff
· 8.06 grams Au per tonne over 2.02 metres in MUG-11-14b - 8 Zone
· 5.69 grams Au per tonne over 2.14 metres in MUG-11-16 - 8 Zone
· 53.70 grams Au per tonne over 0.70 metres in MUG-11-17 - McVeigh Tuff
· 5.64 grams Au per tonne over 2.00 metres in MUG-11-17 - McVeigh Tuff
In 2011, Phase II underground drilling completed 14,800 metres and 9 holes, targeting the 8 zone plunge and strike continuity as well as sub-parallel footwall structures. Drill holes targeting the plunge continuity of the 8 Zone include MUG-11-12, 14 (14b) and 16 (Figure 2). Drill hole 14b and drill hole 16, the deepest hole ever completed on the Madsen property, intercepted silicified and visible gold-bearing, basalt and returned 8.06 g/t gold over 2.02 metres and 5.69 g/t gold over 2.14 metres, respectively. These intercepts extend the 8 Zone system 250 metres down plunge from previous drilling to approximately 1,600 metres below surface. The system continues to remain open down plunge and will be the target of future drilling.
Drill holes targeting the strike continuity of the 8 Zone include MUG-11-10, 11, 13, 15, 17 and 19. Drill hole 13 and drill hole 17 intercepted silicified, biotite-altered basalt and returned 15.70 g/t gold over 2.00 metres and 53.70 g/t gold over 0.70 metres, approximately 950 metres below surface. These intercepts are in the hanging-wall of the 8 Zone system and interpreted to correlate with and be an extension of the McVeigh Tuff, located approximately 650 metres up-dip. Importantly, the McVeigh Tuff hosts a current Indicated Resource of 115,000 ounces at 9.59 g/t gold and has seen very limited drill testing below the 350 metres depth. In addition to the McVeigh mineralization, the 8 Zone structure is developed in all holes completed along strike and is characterized by anomalous gold associated with biotite-altered, variably silicified basaltic and ultramafic lithologies.
Moving into 2012, Claude has approved a 29,000 metre, underground and surface exploration program at Madsen with budgeted expenditures of $6.6 million dollars. The program will include two underground rigs and one surface rig, targeting to complete 40 to 50 holes. Exploration will focus on continued testing of the 8 Zone Trend as well as the McVeigh and Austin Tuff depth continuity. “These latest results provide encouragement for our 2012 program. They continue to demonstrate that the 8 Zone is a high grade gold system that has strong vertical continuity, remaining open at depth and along strike to the northeast. Furthermore, the discovery of economic grades and widths hosted within the depth continuity of the McVeigh Tuff opens up significant exploration potential,” stated Brian Skanderbeg, Vice-President Exploration, Claude Resources Inc.
The Madsen Gold Mine, located in the town of Madsen, is approximately 10 kilometres from the town of Red Lake, Ontario and is in one of the highest grade gold districts in the world. The Madsen Mine was the third largest gold producer in the Red Lake camp behind the Campbell and Dickenson Mines with a total of 2.45 million ounces of gold produced over its 38 year mine life. The property currently hosts a National Instrument 43-101 compliant Indicated Resource of 928,000 ounces at 8.93 g/tonne and an Inferred Resource of 297,000 ounces at 11.74 g/tonne (see December 7th, 2009 press release, ‘Claude Resources Inc. Reports Independent NI 43-101 Resource at Madsen Mine’).
Figure 1: 8 Zone Longitudinal Section - Madsen Mine (Click on image to enlarge)
Figure 2: Madsen Longitudinal Section - Madsen Mine (Click on image to enlarge)
In 2008 and in 2009, the Company commenced its directionally-assisted underground drill program from the 10th level of the Madsen mine shaft. The underground program targeted the plunge and strike extensions of the 8 Zone system. Phase I of the 8 Zone underground drill program included the interception of high grade gold mineralization down plunge of the 8 Zone; it also confirmed the development of a sub-parallel footwall and extended the strike length of the mineralized system. Drilling completed to date suggest that the 8 Zone structure may be improving with depth as demonstrated by the two deepest intercepts to date returning 0.97 oz/ton over 8.17 feet and 0.75 oz/ton over 25.92 feet. (See Media Release: Claude Resources Inc. Intercepts 1.81 oz/ton over 4 Feet in the 8 Zone at Madsen Deep (pdf))
The 8 Zone consists of visible gold-bearing quartz veins and silica-flooded, biotite-talc altered basalt proximal to a major ultramafic contact. In addition, current drilling of the footwall environment suggests the development of at least one sub-parallel structure hosting gold mineralization. This footwall structure has been intercepted by three drill holes and is characterized by fine disseminated arsenopyrite and quartz-carbonate veining within chlorite-biotite-actinolite altered basalt. Highlights from the 2009 underground drill program include:
Click image to enlarge
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