GOLD MINING NEWS - Claude Resources (CGR), in addition to its operating its flagship Seabee mine, is actively exploring for gold deposits to add to its current production profile. As the gold price has risen so, too, has the incentive to uncover and extract gold deposits. As a result, gold mining companies are reassessing the viability of vast portions of their portfolios for further development, while explorers are re-examining properties with historical production that may contain an economic gold operation in an era of gold prices well above $1,000 per ounce.

One such project that has received renewed interest is the Amisk Gold Property, located 20 kilometers southwest of Flin Flon, Manitoba, Canada - a 65/35 joint venture of Claude Resources (CGR) and St. Eugene Mining (SEM.TSXV). The property has been subject to exploration since 1910, and a feasibility study conducted in 1988 indicated mineable reserves of 185,000 tons at 0.44 ounces per ton. The joint venture between Claude and St. Eugene was finalized last month.

Today, Claude Resources (CGR) reported drill results illustrating the bulk potential of the property including the intersection of 1.03 grams per tonne (g/t) of gold over 86.70 meters. Brian Skanderbeg, Claude Resources’ Vice President Exploration, commented that “These initial drill results in conjunction with the historic drilling data outline an extensive, potentially bulk-mineable gold system.”.

The Canadian-based gold mining company has instituted a summer exploration program, which will include re-sampling of historic core and further diamond drilling, scheduled to begin in June.