December 16, 2010 / 4:30 PM / 8 years ago

UPDATE 1-Claude Resources gets better results from Manitoba mine

* Results show bulk-minable gold reserve at JV

* Claude shares up 18 pct; St Eugene rise 92 pct

Dec 16 (Reuters) - Canada’s Claude Resources Inc CRJ.TO said drill results from its Amisk gold property in Manitoba show a higher bulk-mineable gold reserve than indicated earlier, sending its shares up to a near four-year high.

Claude, which also has mineral properties in northern Saskatchewan and north-western Ontario, said the drill results confirmed grade continuity.

The Amisk project is a 65:35 joint venture between Claude and St Eugene Mining Corp SEM.V.

Shares of Claude, which operates the project, were trading up 11 percent at C$2.01 on Thursday on the Toronto Stock Exchange. They touched a high of C$2.14 earlier in the session.

While shares of St Eugene touched a near five-year high of 25 Canadian cents, before paring some of their gains to trade up 61 percent at 21 Canadian cents on the Toronto Venture Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Don Sebastian)

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