ONTARIO – A new discovery at the Starratt Olsen target has assayed 185.62 g/t Au (5.97 ounces per ton) over 0.41 metre at a depth of about 300 metres. The find was made at the Madsen project, wholly owned by CLAUDE RESOURCES of Saskatoon, in the Red Lake gold camp. The same hole returned a separate intersection grading 26.85 g/t Au (0.86 opt) over 0.58 metre.
The newly discovered mineralization is hosted within a quartz vein system in the footwall of the former mine, said the company. It is 190 metres deep, located 3.0 km southwest of the Madsen shaft. Two drill rigs are active on the property, and further assays are pending.
The former Starratt Olsen gold mine operated from 1948 though 1956. It produced 164,000 oz of gold, making it historically the eighth largest producer in the Red Lake camp.
The Starratt Olsen property is part of Claude’s Madsen property that includes the Buffalo, Aiken-Russett, Redaurum, Hagar Option and Madsen properties. Further information about the company’s exploration plans for the area is posted at www.ClaudeResources.com.