A Canadian gold mining and exploration company

Neptune

  

The Neptune exploration target is located 6 kilometres north of the Seabee Minesite. Claude focused exploration on the Pigeon Lake region and utilized geological, geochemical and geophysical surveys and historical drill data. Exploration efforts in 2011 included the completion of a 28 hole, 9,550 metre drill program designed to test the 1.8 kilometre strike length of the soil anomaly to vertical depths of up to 250 metres. Based on the encouraging results from Neptune, Claude anticipates further drilling in the first and second quarters of 2012. 

Table 1: Results from the 2010 and 2011 drill programs.

Hole ID Easting Northing Az/dip From (m) Grade (g/t) Width (m) Visible Gold
NEP-10-001* 587851 6177720 130/-45 222.00 Anomalous 2.00 YES
NEP-10-002* 587851 6177720  130/-58  228.00  13.39  3.00 YES
NEP-11-003 587984 6177748  130/-45  60.00  3.78  1.00 YES
    And    112.00  Anomalous  2.90 YES
    And    124.00  Anomalous  1.00 YES
NEP-11-004 587950 6177671  130/-45  108.81  4.37  0.81  
NEP-11-005 587938 6177652  130/-45  114.00  Anomalous  4.00  
NEP-11-006 587865 6177584  130/-45  90.39  Anomalous  0.61 YES
NEP-11-007 587963 6177692  130/-45  4.05  Anomalous  2.95 YES
    And    48.30  10.65  0.50 YES
    And    84.80  84.66  3.20 YES
    Incl.    84.80  218.00  1.20 YES
    And    111.11  24.70  0.82 YES
NEP-11-008 588016  6177912  130/-45  159.00  8.38  1.00 YES
NEP-11-009 588113  6178080  130/-45  290.65  Anomalous  2.35  
NEP-11-010 587933  6177839  130/-58  181.00  3.01  0.89 YES
NEP-11-011 587812  6177841  130/-45  308.82  Anomalous  2.00 YES
NEP-11-012 588067  6177801  130/-45  39.94  5.82  3.06 YES
NEP-11-013 588131  6177878  130/-45    NSI    
NEP-11-014 587374  6177159  130/-45  419.91  Anomalous  1.00 YES
NEP-11-015 587722  6177373 130/-45     NSI    

Note: Intercepts calculated using a 3 g/t Au cut-off, Anomalous (0.1-3 g/t Au), NSI (no significant intercepts),
*(Previously released drill intercept).

Follow-up drilling at the Neptune target within the Seabee Project has intersected high-grade gold within multiple structures with assay results of up to 84.66 grams of gold per tonne across 3.20 metres or 2.47 ounces per ton across 10.5 feet.  The 2011 winter drill program confirmed the gold-bearing structure over a strike length of 1,200 metres to depths in excess of 250 metres and, when combined with drilling completed in 2010, indicates strong potential to grow the resource base at the Seabee Project.

Multiple gold-bearing vein sets are situated proximal to the arenite-basalt contact, a regional structure that hosts gold mineralization at the Porky West and Porky Main deposits. Sheeted quartz veins and associated alteration are hosted within both arenite and basalt-derived, biotite-chlorite schist. “Initial drill testing of the Neptune target has returned high grade results with 10 of 15 holes hosting visible gold. To date, we have only tested the Neptune target on widely spaced centres and are yet to determine the limits. These results demonstrate the potential for significant new discoveries and resource definition in the Seabee Camp,” stated Brian Skanderbeg, Vice-President Exploration.
Based on these encouraging results from Neptune and in the Santoy region, Claude has expanded the 2012 Seabee exploration program to include 70,000 metres of surface drilling. The program will focus on testing Santoy Gap, Neptune and other regional targets. 

Figure 1: Seabee Regional Property Map

 

Figure 2: Neptune Plan Map