Wednesday, 29 February 2012

Clifton Star files updated NI 43-101 compliant technical report for Donchester property

Clifton Star Resources (CVE:CFO) said Tuesday it has filed an updated NI 43-101 technical compliant report on SEDAR for tis Donchester property, part of the company's Duparquet project in Quebec.
The report, prepared by James S. Steel of Mining Insights, comes after a previous technical report on Donchester from June 2011 was deemed by the British Columbia Securities Commission (BCSC) to be non-compliant with the requirements of NI 43-101, prompting a cease trade order.
The company said Tuesday it has filed an application with the executive director of the BCSC to have the cease trade order revoked and expects a response in due course.
The current NI 43-101 compliant inferred resource on the Donchester portion of the Duparquet project consists of 11.01 million tonnes with an average grade of 3.06 grams of gold per tonne for 1.05 million contained gold ounces, at a cut-off grade of 1.5 grams of gold per tonne, and using a topcut of 8.0 grams.
Clifton Star said the report recommends "extensive further work" on the property including in‐fill drilling and exploration drilling, both on sections with existing drill holes and between sections. Trenching is also recommended, it added.
Meanwhile, the Beattie area of the Duparquet project is currently estimated to contain 1.72 million inferred gold ounces, while the Duquesne area is projected to hold 0.2 million indicated ounces, and 0.28 million inferred ounces.
In October 2011, the company filed a "Material Change Report" as well as two other NI 43-101 reports dealing with the Beattie portion of the Duparquet project and the Duquesne property.
Clifton said it retained the services of InnovExplo, a geological and mining consulting firm, to prepare an NI 43-101 technical report on the Beattie, Donchester, Dumico, Central Duparquet, and the Beattie Tailings portions of the Duparquet project, and expects to receive this report in April this year.
Since re-assuming control of the Duparquet project last June from Osisko (TSE:OSK), the the company has been actively drilling at the property, with 85 holes for 26,754 metres completed in 2011, as well as metallurgical testing.
Most of these holes were drilled on the Beattie and Donchester properties to increase the continuity of the zones and to extend previous holes that had ended in mineralization.
Results from the on-going drilling campaign should be available shortly, Clifton said, with metallurgical testing results to be released in due course.
These results, as well as all previous drilling assays, are being used to prepare the NI 43-101 technical report for the project due in April, which will form the basis of a preliminary economic assessment.
Clifton said last month that it will continue exploration in 2012 with the aim of expanding resources and identifying new targets. In the first half of 2012, the company plans to spend roughly $2 million on exploration, with most allocated for 15,000 metres of drilling.
The primary focus of this exploration program will be to test the extension of the mineralized zones to depth on the properties.
Clifton, which has around $14 million in cash and term deposits, also said Tuesday it has hired a new CEO, Michel F. Bouchard.
Bouchard has more than 30 years of experience in exploration and mine development in Quebec.
In addition, M. Louis C. Martin has been appointed VP of exploration.

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