Claude Resources (CRJ.TSX, AMEX: CGR) announced positive metallurgical and engineering results from test work at the 15,400 hectare Amisk Gold Project in northeastern Saskatchewan, Canada. The Amisk Gold Project is located 20 kilometers southwest of Flin Flon, Manitoba and is a 65:35 Joint Venture between Claude and St. Eugene Mining Corporation; Claude is the operator of the Joint Venture.
* Initial metallurgical testing indicates that gold and silver mineralization is amenable to conventional cyanide leaching.
* Results from testing on three composite samples from the Amisk Gold Deposit have returned an average of 89.4% recovery for gold, ranging from 85.2% to 91.7% and an average of 80.8% recovery for silver, ranging from 66.4% to 92.8%.
* Finer grinds resulted in higher recoveries for all metals, with peak recoveries for the medium grade composite of 91% for gold and 92.8% for silver..
Neil McMillan, President and CEO:
“We had a very busy and successful first quarter of 2011. During the quarter we achieved commercial production at the new Santoy 8 Gold Mine, conducted two exploration programs at Seabee and Amisk, established the first drill chamber at Madsen to target the high grade 8 Zone and safely executed our major winter re-supply program for the Seabee Gold Operation.”
Catherine Gignac, Northland Securities:
“We look to multiple value creation opportunities in 2011 from the Seabee, Madsen and Amisk assets to drive Claude’s shares higher. Catalysts include infrastructure improvements and expansions, mine life extension, and resource growth at exploration properties.”