ONTARIO - Claude Resources of Saskatoon reports that rehabilitation has begun on the 16th level of the Madsen gold project in Red Lake. Two drill chambers are to be developed by the end of Q1 2011.
Dewatering below the 16th level will allow additional drilling of the high grade 8 zone and testing of the associated sub-parallel systems. When the 8 zone was tested in 2009, the down plunge continuity of multiple high grade intercepts and visible gold was confirmed. That work also added 185,000 oz of gold to the inferred resource.
The new phase of underground drilling into the 8 zone will test the western strike, down- and up-plunge extensions as well as footwall targets sub-parallel to the zone, said the company.
"The 8 zone trend shows strong similarities to Goldcorp's high grade zone and has seen limited historic exploration at depth or along strike," stated Brian Skanderbeg, Claude's VP exploration. "Results from Phase 1 of the underground drill program demonstrated the multi-ounce nature of the system and potential for multiple sub-parallel lenses. Based on these results, an extensive Phase 2 exploration program has been designed to expand the 8 zone resource to depth and further explore the trend."
Further information about the Madsen project as well as maps, core photos and the resource estimate are available at www.ClaudeResouces.com.
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