Thursday, 5 July 2012

Clifton Star files NI 43-101 Duparquet report on SEDAR, starts PEA

Clifton Star Resources (CVE:CFO) filed Thursday on SEDAR its consolidated mineral resource estimate for its entire Duparquet project in Quebec, and also said it has started work on a preliminary economic assessment (PEA) study.

The junior gold miner expects to have conclusions from the report by the end of the year, it said.

The resource estimate filed today, initially released in May, consists of 1.71 million indicated ounces, or 29.59 million tonnes at a grade of 1.80 grams per tonne (g/t) gold, and 1.67 million inferred ounces, contained within 29.14 million tonnes grading 1.78 g/t gold.

Measured resources also amount to 1,284 ounces, or 19,000 tonnes at a grade of 2.10 g/t gold.

The in-pit mineral resource contains 1.28 million indicated ounces  from 21.92 million tonnes at 1.81 g/t gold, and 1.14 million inferred ounces from 23.15 million tonnes grading 1.53 g/t gold, both at a base case cut off of 0.60 g/t gold.

The previous resource estimates on the Duparquet project, which in the past were completed on a separate deposit basis, only had resources in the inferred category, while the new integrated estimate sees more than half of all resources in the higher indicated category, on the basis of contained ounces.

The latest estimate, prepared by InnovExplo, also includes the Beattie tailings.
The report is based on 223 surface channel samples and 668 surface holes, totalling 211,259 metres, and 134,766 samples.
The company said gold recovery of 92.8 per cent was incorporated, based on recent metallurgical testing at SGS Lakefield.
Duparquet is located along the prolific Destor-Porcupine fault in the Abitibi region of Quebec. Osisko Mining (TSE:OSK) dropped out of the joint venture at the project last year, which saw Clifton resume 100 percent control.
Drill results from 2012 at the project include 18 metres of 3.16 g/t gold in hole BD10-160 ext, and 7 metres of 2.37 g/t gold in hole BD10-172 ext.

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