SASKATCHEWAN – Saskatchewan-based CLAUDE RESOURCES has filed a NI-43-101 report for the Santoy 8 deposit at the Seabee gold mine northeast of La Ronge. The indicated resource totals 727,500 tonnes at 8.98 g/t Au, and the inferred resource is 391,500 tonnes at 8.08 g/t Au. Using a 3-g/t Au cutoff grade, there may be over 300,000 oz of gold in the deposit.
Gold mineralization at Santoy 8 has been confirmed over a strike length of 600 metres and a dip length of 350 metres, and remains open along strike and down plunge to the north. Santoy 8E has been intercepted over a strike length of 200 metres and dip length of 250 metres, and remains open along strike and down plunge to the north. The true thickness of Santoy 8 and 8E deposits vary from 1.5 to 30.0 metres. Mineralization is hosted in siliceous, skarnified, shear structures with sulphide-chlorite-quartz veins and in silicified granitoid sills. Eight mineralized lenses dip moderately to steeply (50 to 85 degrees) to the east and are interpreted to be amenable to bulk mining techniques.
Claude Resources is in the process of completing environmental studies in preparation for planned bulk sampling and commercial mining of the Santoy 8 and 8E deposits in 2009. See www.ClaudeResources.com for the latest news.