www.cliftonstarresources.com
Clifton Star Resources Inc. (TSX.V: CFO) ["Clifton Star"] (Frankfurt Exchange: C3T) is a junior mining exploration company with a focus on six properties that have had historic production of gold, silver, copper and nickel.
The portfolio consists of seven properties, six of them near the Porcupine-Destor Fault in Quebec and one on the Manitoba Ontario border, all in Canada.
LOM Research maintains $11 per share target for Clifton Star, but stresses need for further info
Research group Loewen, Ondaatje, McCutcheon (LOM) has maintained its speculative buy on Clifton Star Resources (TSX-V:CFO) at $11.0 per share, but has voiced concerns over the fact that no location or compilation map was provided for the company's past drilling results at its Duparquet project in Quebec, making it difficult for LOM to form an investment opinion.
On Monday, Osisko, the joint venture operator of the Duparquet gold project, announced results on the thirty-seven additional holes from the 122,000 metres drill program, which is focused on three properties: Beattie, Donchester and Duquesne.
The current Phase I drill program of 67,500 metres on the Beattie property is currently 98% complete, while phase II of 20,000 metres is entirely complete on the Duquesne property, and phase III of 33,000 metres is 80% finished on the Donchester property.
Assays are still awaited for the bulk of these holes.
"The results from Beattie/Donchester indicate moderately long intersections of relatively low grade gold mineralization. One hole intersected 3.78 grams per tonne over 42 metres, but the majority are between 1 to 3 grams per tonne over 10 to 25 metres. Our guess is that about 60% of the holes are potentially economic, which is positive," the research company analyzed in a statement.
The Dusquesne results are less interesting, continued LOM, with 20% potentially economic. One hole interesected 6.4 metres grading 4.47 grams per tonne gold, but most of the others were narrow in intersection width, it said.
However, the company stressed that though the results appear somewhat positive, it would be "impossible" to give a valid investment opinion without further information, such as a location and compilation map.
"Why is it that Moose Pasture Mines (a theoretical exploration company- representing most junior explorers) can produce these maps and a company such as Osisko, on the verge of becoming a producer, cannot?" LOM asked.
Clifton Star was down almost 1% on Wednesday afternoon, trading at $4.25 as of 12:21pm ET on the TSX-Venture Exchange.
