Looking good:
2009-01-07 10:56 ET - News Release
Mr. Harry Miller reports
CLIFTON STAR'S EXPLORATION CONTINUES TO YIELD ENCOURAGING RESULTS AT DUPARQUET TOWNSHIP, QUEBEC GOLD PROJECTS: NI 43-101 RESOURCE CALCULATIONS UNDER PREPARATION
Clifton Star Resources Inc. is providing newly acquired assay results from its gold exploration properties located along the Porcupine Destor fault in Duparquet township of Quebec. The project comprises five former gold producers: the Beattie, Donchester, Duquesne, Dumico and Central Duparquet. All of those adjoin or are in close proximity to each other. Drilling continued up until the Christmas break, and will resume Jan. 10.
In addition, the company has contracted with Wilson Roscoe Postle Associates, a world-renowned engineering firm, to prepare a National Instrument 43-101-compliant resource calculation and 3-D block modelling for the Beattie/Donchester properties, with the report expected to be available in March, 2009.
Genivar, a leading Canadian engineering consulting company, has been hired to complete the same tasks for the Duquesne property. Genivar has also been contracted to complete an evaluation of the mine tailings, mill clean-up material and tank dumps. Also, they will be tasked to obtain all permitting required for processing of material along with water treatment, bulk sampling and dewatering of the former mine.
The new drill results from the Beattie and Donchester properties have been very encouraging, particularly with the demonstrated continuity and the wide widths of the zones. In these latest results, the best drill hole at Beattie (Hole B08-72) assayed at 7.13 grams per tonne gold over 25 metres, including a higher-grade interval of 5.00 metres grading 14.46 grams per tonne gold. At Donchester, assays are pending on a 115.70-metre interval within drill hole D08-19, which was suspended in mineralization at the Christmas break. All of these newly acquired drill results shown in the accompanying tables will be incorporated into the forthcoming NI 43-101 resource calculations. True widths are estimated to be between 64 and 79 per cent of the intersections.
Drilling to date has confirmed three separate mineralized zones with multiple vein systems (up to seven separate parallel systems). The South zone is similar to the mineralized zones within the Dumico property, and it is now believed that it is part of the same sheared metaconglomerate breccia unit lying along the same contact with the Temiskaming metasediments to the south. This contact has been traced by drilling over a distance of approximately 4,400 metres. As drilling continues into the first quarter, expectations are that all three zones may extend onto the Central Duparquet and Dumico properties to the east. A Beattie/Donchester diamond drilling compilation map from 1987 to present has been posted on the company's website.
Drilling is being conducted using NQ-diameter coring and up to seven drills on site. The core is split in half, with one half being securely stored on-site and the remaining core sent to TechniLab of St. Germaine, Que., and to Expert Labs, of Rouyn-Noranda. The core is tested using standard 50-gram fire-assay-gravimetric finish. Samples over 7.0 grams per tonne gold are being rerun using fire-assay-total-metallics finish for gold.
BEATTIE PROPERTY: SUMMARY OF SIGNIFICANT DRILL RESULTS
Gold value
Drill hole Zone East (m) From (m) To (m) Length (m) (g/t)
B08-78 North 1,350 88.75 110.00 21.25 7.23
incl. 99.75 106.05 6.30 14.06
B08-72 RW 550 144.00 169.00 25.00 7.13
B08-70 RW 700 318.00 330.00 12.00 2.43
incl. 321.00 324.00 3.00 Pending
B08-25 South 650 201.00 206.00 5.00 2.72
B08-45 South 550 304.70 316.20 11.50 6.15
B08-74 North 1,350 77.60 140.00 62.40 Pending
incl. 77.60 85.00 7.40 4.48
171.10 181.30 10.20 Pending
236.80 245.40 8.60 Pending
310.40 330.30 19.90 Pending
B08-84 South 300 47.00 60.00 13.00 4.15
DONCHESTER PROPERTY: SUMMARY OF SIGNIFICANT DRILL RESULTS
Gold value
Drill hole Zone East (m) From (m) To (m) Length (m) (g/t)
D08-33 South 1,740 111.00 114.00 3.00 7.84
117.50 124.00 6.50 3.11
D08-19(i) North 1,920 200.30 316.00 115.70 Pending
D08-11(ii) North 2,100 554.60 584.25 29.65 3.34
D08-17 South 2,025 100.20 109.20 9.00 2.77
incl. 100.15 102.15 2.00 7.71
D08-34 South 1,690 73.00 75.00 2.00 7.56
incl. 163.1 164.5 1.40 11.84
D08-37 North 2,225 390.50 448.25 57.75 3.42
D08-45 South 2,240 32.40 34.20 1.80 10.06
155.00 158.00 3.00 3.05
311.65 333.55 21.90 Pending
Within 4.00 4.21
interval
348.00 352.00 4.00 5.23
(i) Hole D08-19 was stopped for the holiday break. No assays have been
received from this hole. It was delivered to the lab on Dec. 16.
(ii) Hole D08-11 intersected three mineralized zones. The first two zones
were previously reported (see news release dated Dec. 8, 2008, in Stockwatch).
With over $8.6-million in working capital, Clifton Star has the financial capability to advance its gold projects well into 2009. The company is examining the potential for open-pit mining and ramping.
With respect to the agreement on the Central Duparquet property (see news released in Stockwatch on Nov. 26, 2008), the company has amended the purchase agreement to one of an option with the down payment of $400,000 and the balance of $1.9-million due in five years in cash or shares. The property is subject to a 2-per-cent net smelter return.
We seek Safe Harbor.>>>>>>>>>>>>>>
What do you think Claude?
tom |
