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
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
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.