Claude Resources Inc. is pleased to provide an update on the exploration program on the 100%-owned Madsen property in the Red Lake gold mining camp of northwestern Ontario, Canada.

A surface drill core program was carried out on the Treasure Box zone, 2.4 kilometres north of the Madsen mine complex, from December 2006 to May 2007. It consisted of a total of 13,285 metres in 49 vertical holes. The Treasure Box zone is characterized by quartz-tourmaline-calcite-sulphide stringers and veins carrying nuggety visible gold. The veins appear to have been emplaced as late-stage brittle fracture fillings in mafic metavolcanic rocks and are considered to represent the uppermost portion of an Archean gold system.

Grid drilling was completed with holes at intervals of 15 metres along four lines spaced 30 metres apart. The vertical holes varied from 213 to 414 metres. The main quartz-tourmaline network of veins forms a system averaging 20 metres in thickness with a general northwest trend and dip of 45 to 60 degrees to the northeast. The mineralization is continuous along 165 metres of strike length and is considered open on both sides and at depth. The drill program also revealed a possible layered nature to this brittle system, with one definite zone of quartz-tourmaline veining approximately 100 metres beneath the main horizon and another possible zone to the northeast, 60 metres stratigraphically above.

complete this article visit : biz.yahoo.com

Find More Other News : Company, Drilling, Exploration, Mine Trade & Market, Mining Top News, Oil & Gas