Business & Finance
Tue, June 8, 2010Mon, June 7, 2010Sun, June 6, 2010Sat, June 5, 2010Fri, June 4, 2010Thu, June 3, 2010Wed, June 2, 2010Tue, June 1, 2010Mon, May 31, 2010St. Eugene Mining Corporation Drills 161.86 Metres at 1.29 Grams of Gold Per Tonne at Amisk Gold Project
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Published in Business and Finance on Thursday, June 3rd 2010 at 6:20 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
TORONTO, ONTARIO--(Marketwire - June 3, 2010) - St. Eugene Mining Corporation Ltd. (TSX VENTURE:SEM) ("St. Eugene" or the "Company") continues to demonstrate potential with further drill intercepts from its exploration program at the Amisk Gold Project in northeastern Saskatchewan, Canada. This news release reports the second assay results from the ongoing $1.1 million exploration programme at the Amisk Gold Project, which is administered by Claude Resources Inc. under a joint venture with Claude Resources. St. Eugene holds a participating 35% interest in the project. The following information is extracted from a release issued today by JV Manager Claude Resources, the contents of which were reviewed and approved by Brian Skanderbeg., P Geo. and M.Sc., VP Exploration and the Qualified Person for Claude.
A total of 11 holes were completed and assayed from the 2010 winter drill program. The intercepts tested from surface to approximately 300 metres depth with mineralization intercepted in all holes. The results from the remaining six holes as well as those previously released are presented below.
| Hole | Easting | Northing | Az/Dip | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) |
| AL-10-274 | 9783 | 5102 | 180/-45 | 23.50 | 29.45 | 5.95 | 3.32 | 7.53 |
| incl | 28.00 | 29.45 | 1.45 | 11.83 | 20.40 | |||
| AL-10-274 | 9783 | 5102 | 180/-45 | 106.80 | 189.30 | 82.50 | 0.72 | 6.84 |
| incl | 187.30 | 188.10 | 0.80 | 16.44 | 145.60 | |||
| AL-10-276 | 10004 | 5097 | 180/-65 | 39.60 | 92.60 | 53.00 | 0.55 | 3.34 |
| AL-10-276 | 10004 | 5097 | 180/-65 | 97.10 | 193.30 | 96.20 | 1.05 | 7.70 |
| incl | 175.55 | 177.05 | 1.50 | 9.76 | 20.10 | |||
| AL-10-277 | 10002 | 5097 | 215/-65 | 22.90 | 260.30 | 237.40 | 0.98 | 8.52 |
| incl | 126.90 | 128.80 | 1.90 | 9.99 | 86.80 | |||
| incl | 211.60 | 214.60 | 3.00 | 13.29 | 56.63 | |||
| AL-10-279 | 9978 | 5059 | 215/-45 | 10.40 | 129.50 | 119.10 | 0.92 | 5.13 |
| incl | 23.70 | 25.20 | 1.50 | 13.12 | 14.70 | |||
| AL-10-280 | 9932 | 5009 | 180/-45 | 10.55 | 43.25 | 32.70 | 0.86 | 4.04 |
| AL-10-281 | 9944 | 5082 | 180/-65 | 6.14 | 56.98 | 50.84 | 0.80 | 4.68 |
| AL-10-281 | 9944 | 5082 | 180/-65 | 87.14 | 249.00 | 161.86 | 1.29 | 7.96 |
| incl | 112.67 | 114.23 | 1.56 | 10.44 | 13.10 | |||
| incl | 195.00 | 203.81 | 8.81 | 8.41 | 42.80 | |||
| incl | 211.64 | 215.74 | 4.10 | 8.08 | 13.73 | |||
| AL-10-271* | 9648 | 5045 | 180/-55 | 190.73 | 200.30 | 9.57 | 1.02 | 5.44 |
| AL-10-272* | 9726 | 5151 | 180/-55 | 196.02 | 212.10 | 16.08 | 1.24 | 15.17 |
| AL-10-273* | 9654 | 5223 | 180/-55 | 300.65 | 334.95 | 34.30 | 0.49 | 0.49 |
| AL-10-275* | 9921 | 4925 | 64/-45 | 10.65 | 45.50 | 34.85 | 2.91 | 2.86 |
| incl | 12.18 | 13.00 | 0.82 | 13.27 | 8.00 | |||
| incl | 15.27 | 16.11 | 0.84 | 39.22 | 15.20 | |||
| incl | 32.00 | 33.00 | 1.00 | 28.89 | 26.50 | |||
| AL-10-278* | 9976 | 5059 | 180/-45 | 11.30 | 98.00 | 86.70 | 1.03 | 5.98 |
| incl | 44.00 | 46.00 | 2.00 | 14.94 | 4.35 | |||
| *Previously released on May 12, 2010. | ||||||||
| Note: Intervals noted are intercepted width not true width, have been calculated using a 0.3 g/tonne cut-off and are uncut. They may include internal dilution. | ||||||||
"These 11 holes from the winter drill program have successfully confirmed near-surface, potentially bulk-mineable gold and silver mineralization. A significant number of the holes ended in mineralization. To date we have tested a strike length of 550 metres, with the potential to expand the system to the west, southwest and down dip to the northeast. These results are very encouraging and we look to expand on them through the summer program," stated Brian Skanderbeg, Vice President Exploration.
A summer exploration program, inclusive of resampling of historic core and further diamond drilling, is scheduled to begin in June.
The 12,100 hectare Amisk Gold Project is located in Saskatchewan, 20 kilometres southwest of Flin Flon, Manitoba. Claude Resources holds a 65 percent working interest in the project, with St. Eugene Mining Corporation Ltd. holding the remainder. Claude also holds a 16.3 percent interest in St. Eugene's issued and outstanding common shares as of May 31st, 2010.
A plan map of the Amisk Gold Project, detailed map showing historic and current drill collar locations and a cross section through the deposit can be viewed at Claude's website. [ www.clauderesources.com ].
Brian Skanderbeg, P.Geo. M.Sc., Claude's Vice-President Exploration, is the Qualified Person who has reviewed and approved the contents of this news release. Drill core was halved and samples averaging 1.0 to 1.5 meters were submitted to TSL Laboratories in Saskatoon, Saskatchewan, an ISO approved facility. Rigorous quality assurance and quality control procedures have been implemented including the use of blanks, standards and duplicates (1 in 20 samples). Core samples were analyzed by a 30 gram gold fire assay with an atomic absorption, conventional gravimetric and/or screen fire techniques.
Claude Resources holds a 16% interest in St. Eugene's issued and outstanding common shares.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This Press Release may contain statements which constitute 'forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at [ www.sedar.com ]. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
