Claude Resources, Inc. (fka CLGRF)

[flemsnopes]

September 10, 2014 9:00 AM - Financial - Mining
Claude Resources Drills 26.77 g/t Gold Over 8.7 m and Initiates
Long-Hole Production at Santoy Gap
Trading Symbols: TSX: CRJ; OTCQB: CLGRFSASKATOON, SK, Sept. 10, 2014 /CNW/ - Claude Resources Inc. ("Claude" and or the "Company") continues to
achieve excellent results from the underground drill program at the Santoy Gap including an intersection of 26.77
grams of gold per tonne over 8.7 metres true width. In addition, long-hole production at the Santoy Gap deposit has
been initiated ahead of schedule and is expected to have a positive impact on future production.
2014 Santoy Gap Underground Drill Program
The underground drilling program is designed to define and expand the current Mineral Reserves and Mineral
Resources at the Santoy Gap. Results show high grade and excellent widths that are hosted within three distinct vein
systems, namely the Santoy Gap 9A, 9B and 9C.
Select highlight holes that have intercepted multiple vein systems are presented in Table 1. Table 2, which is located
at the end of the news release, provides further highlights and information specific to each intercept. All results are
reported as cut grade and true width.
Table 1: Highlight Holes Intercepting Multiple Vein Systems Within the Santoy Gap Deposit.
HOLE #
VEIN SYSTEM
9A 9B 9C
GRADE g/t
(cut)
TRUE WIDTH (m)
GRADE g/t
(cut)
TRUE WIDTH (m)
GRADE g/t
(cut)
TRUE WIDTH (m)
SUG-14-027 33.56 4.57 7.71 2.52 4.28 10.21
SUG-14-028 15.35 7.51 4.84 3.42 6.71 7.13
SUG-14-029 50.00 1.88 10.91 10.47 15.17 4.80
SUG-14-034 13.29 2.58 22.54 9.62 4.93 1.72
SUG-14-038 9.87 8.22 20.20 0.87 28.36 2.02
SUG-14-044 8.03 3.39 - - 11.33 7.63
SUG-14-048 6.06 6.34 6.23 4.69 26.77 8.70
"These results and the fact that we are now in production demonstrate why we anticipate the Santoy Gap deposit will
have a positive impact on our production profile," stated Mike Sylvestre, Interim President and CEO. "The significance
of these results is that all three structures hosted within the Santoy Gap continue to demonstrate economic grades
and widths. The Santoy Gap deposit contains more gold ounces per vertical metre than other ore bodies in the camp
and, based on that, we have the opportunity to improve productivity and margins."
Santoy Gap Development Update
The Santoy Gap development is currently ahead of schedule with long-hole production now underway. Long-hole
production was originally expected to begin in the fourth quarter of 2014. From May through July, the Santoy Gap
produced approximately 13,000 tonnes at 7.1 grams of gold per tonne. Thus far, the average grade has been 8%
higher than the Santoy Gap Mineral Reserve grade of 6.4 grams of gold per tonne. Year to date, the Santoy Gap has
had a positive impact on production from the Santoy Mine Complex with overall grades improving to 5.65 grams of
gold per tonne in the second quarter versus the 3.66 grams of gold per tonne during the first quarter of this year.
Production ramp up at the Santoy Gap is well ahead of schedule and will become the main contributor of tonnes and
ounces mined from the Santoy Mine Complex for the remainder of 2014. Production tonnage from Santoy Gap is
expected to average 300 to 400 tonnes per day during the fourth quarter, which is well above the budgeted throughput
of 200 tonnes per day.......(more at http://www.newswire.ca/en/story/1409268/claude-resources-drills-26-77-g-t-gold-over-8-7-m-and-initiates-long-hole-production-at-santoy-gap