Claude drills 2.5 feet of 2.71 oz/t Au at Madsen

2009-02-17 08:24 ET - News Release

Mr. Neil McMillan reports

CLAUDE RESOURCES INTERCEPTS 3.71 OZ/TON OVER 2.5 FEET AT MADSEN DEEP; EXTENDS HISTORIC HIGH GRADE 8 ZONE MINERALIZATION DOWN PLUNGE

Claude Resources Inc. has released initial results from its 2009 8 zone underground drill program at its Madsen project at Red Lake, Ont.

From Length Au Length Au VG noted
(m) (m) (g/t) (ft) (oz/t)

883.00 0.75 127.12 2.46 3.71

Claude launched phase one of the underground program, from the 10th level in December, 2008, targeting the 8 zone system with 12,000 metres of drilling.

The assay reported today confirms the high-grade mineralization 130 feet down plunge of historic mine development and is consistent with historic drilling immediately above and below the 27th level that returned drill intercepts including 0.81 ounce per ton over 14.4 feet, 2.76 ounces per ton over 6.6 feet, 2.22 ounces per ton over three feet and 1.25 ounces per ton over three feet.

Mineralization is hosted within a visible gold-bearing quartz vein system within a sequence of silica-biotite-talc-altered basalts proximal to a major ultramafic contact.

"The abundant visible gold and geologic setting of this first intercept supports our belief that the 8 zone is a high-grade gold system.

This is a positive first intercept of our 20-hole, phase-one underground drill program at Madsen," stated Brian Skanderbeg, vice-president, exploration, Claude Resources.

Madsen is an advanced exploration property containing extensive infrastructure including a 500-tonne-per-day mill with expansion capacity, a permitted tailings management facility and a five-compartment 4,000-foot operating shaft.

A Madsen property location map and cross-section of the Madsen mine as well as photographs of the intercept are available on Claude's website.

Mr. Skanderbeg, PGeo, MSc, Claude's vice-president, exploration, is the qualified person who has reviewed and approved this news release. Drill core was halved and samples averaging one to 1.5 metres were submitted to Accurassay Laboratories in Thunder Bay, an ISO-approved facility. Rigorous quality assurance and quality control procedures have been implemented including the use of blanks, standards and duplicates (one in 20 samples). Core samples were analyzed by a 30-gram gold fire assay with an atomic absorption, conventional gravimetric or screen fire techniques. Intercepts are reported as drilled widths and interpreted to vary between 75 per cent and 90 per cent of true widths.

Hg