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.
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10/05/2012
Clifton Star has 2.7 million ounces of gold in Quebec
Michel Bouchard, CEO of Clifton Star Resources, talks about 2.7 million ounces of gold in Quebec, valued at less than $20/oz, new resource estimate due this month, tests showing 93% of gold recovered, mineralisation in the Abitibi district often extending down 2 kms, and only 35 million shares outstanding (May 12)
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Company Statement:
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 near the Porcupine-Destor Fault in Quebec and one on the Manitoba Ontario border, all in Canada.
The Duparquet Project and the Duquesne Project includes 3 past producers (Beattie, Donchester, Duquesne) who have historically produced over 1.5M ounces of gold from 1933 to 1991.
The projects are located 45 km northwest of Rouyn-Noranda with existing power and road infrastructures in mining friendly Quebec.
Clifton has an experienced management team with proven exploration and development achievements.
For more information, please visit our website at : www.cliftonstarresources.com
Current Operations:
Information compiled is from data available from various reports including qualifying reports from Peter Bevan P.Eng., C.W. Archibald, P.Eng., and Charlie Michener, P. Eng.; including 43-101 by F.T. Archibald, P.Geo. (43-101 compliant).
Information compiled is from data available from NI 43-101 reports prepared by:
SGS Canada Inc. for the Beattie Mine Property in May 2011,
Genivar for the Duquesne Property in July 2011
Mining Insights Inc. for the Donchester Property in 2012.
The 7 Clifton Star properties are listed in the order of highest potential at present.
The Beattie, Donchester, and Duquesne Mines lie along the Porcupine-Destor Fault system where mineralization is associated with splay-faults offset or paralleling the main system. Over 85 million ounces of gold have been produced from similar geological occurrences associated with the Porcupine-Destor Fault between Timmins, Ontario and Val D’or, Quebec; a majority lying along the northern contact of the regional fault system.
Beattie Mine Property:
Property Size: 942.2 acres
Location: Duparquet Township, Quebec
Beattie Mine Location Map
Beattie / Donchester Location Map
History
Approximately 9,257,321 tonnes averaging 0.124 oz/t Au (4.04 g/t Au) was mined and milled on-site between 1933 and 1956.
The main orebody, along the north contact, was 352 metres in length and mined down to a depth of 381 metres and to widths of up to 35 metres. The workings exist to below 600 meters depth.
A total of 928,000 oz Au was mined from this deposit. The ore is associated with the contact area of an ovoid-shaped syenite porphyry intrusive.
Within the structure many other parallel gold-bearing zones associated with fault structures have been observed.
The ore is associated with silicified-chloritized-brecciated and sheared syenite porphyry; and gold is associated with pyrite (from hydrothermal fluid deposition within both disseminations and fracture-fillings). A series of easterly plunging zones are controlled by cross-cutting fault structures which are offset to the north of the Porcupine-Destor Fault.
In May 2011, SGS Geostat prepared an NI 43-101 compliant resource report on the Beattie Property. SGE Geostat performed an open-pit optimization in order to evaluate the potential of the deposit. Based on a gold price of US$1,100 per ounce (and mining costs of $1.50 per tonne, processing costs of $20 per tonne, metallurgical recovery of 85%, rock slope angle of 50 degrees, and overburden angle of 30 defrees), SGS Geostat calculated an in-pit resource of 31,950 million tonnes in the Inferred category grading 1.67 gpt gold (1.717 million contained ounces).
It should also be noted that the foregoing Beattie resources do not include the significant potential for underground resources, which might be delineated with deeper drilling. In fact, a significant portion of the Company's exploration program from July to December 2011 were to extend about 60 drill holes from their maximum vertical depth of around 400 metres to depths of about 600 metres.
Donchester Mine Property (Gold)
Property Size: 823.5 acres
Location: Duparquet Township, Quebec -- Adjoining the Beattie property to the east as Mining Concession 384.
Beattie / Donchester Location Map
History
Some 1,350,000 tonnes averaging 0.136 oz/t Au (4.35 g/t Au) was mined between 1946 and 1956 at the Beattie mill.
The main ore body, developed over a strike length of approximately 1000 metres down to a depth of 381 metres, lies along the southern contact of the same syenite porphyry as the Beattie deposit.
A NI 43-101 report by J. Steel of Mining Insights Inc., dated February 16, 2012 estimate resources at 11.01 million tonnes at 3.06 g/t all in the Inferred category for 1.05 million contained ounces all at a cutoff grade of 1.5 g/t Au and using at top cut of 8 g/t Au.
Duquesne Mine Property (Gold)
Property Size: 942.2 acres
Location: Duparquet Township, Quebec -- The property consists of Mining Concession 377 and a group of unpatented mining claims surrounding the concession.
History
Historic production was 193,095 tonnes of ore averaging 10.81 g/t Au and was produced from 1946 to 1952 and from 1988 to 1992; totalling 2,086,946 g/Au.
The area of the workings covers approximately 200 metres width and 381 metres at depth.
Since 2007, Clifton Star have drilled some 143 drill holes for 50,321 metres over the west extensions and to depth; outlining 4 parallel gold-bearing veins; 3 of which are the same than the ones previously mined. The veins have been extended for some 1,250 meters laterally and down to depths of 932 metres vertically; with drilling on 50 to 100 metre centres. Metallurgical studies have shown the gold is 96% recoverable through cyanidation and flotation methods.
Using all drill data and a minimum 1 g/t Au cut-off, Genivar estimated in a NI 43-101 report, dated July 26, 2011, that the property contained Indicated resources of 1,859,000 tonnes at 3,33 g/t Au for 199,000 contained ounces and a further 1,563,100 tonnes at a grade of 5,68 g/t Au for 280,000 contained ounces, in the Inferred category.
The gold-mineralized zones occur within fault related structures lying between the footwall of a gabbro intrusive and the hanging wall of an ultramafic unit.
The mineralized zone lies immediately north of the Porcupine-Destor Fault and appears to be parallel to the main fault. Vein 10 and Vein 20 are the most promising gold-bearing systems with a third, Vein 74, associated with the north contact of the Porcupine Destor Fault.
Two properties immediately to the west of the Duquesne property, the Globex Duquesne West and the Normabec Pitt, are encountering similar grades and structures associated with mineralized systems immediately north of the Porcupine-Destor Fault. Grades and tonnages from both properties have been published.
Dumico Mine Property (Gold)
Property Size: 238 acres
Location: Duparquet Township, Quebec
History
Historically, two shafts were sunk, one to 305 metres depth, and the zones traced for some 700 metres along strike length by 84 drill holes.
The ore consists of silicified syenite porphyry and lies along the same fault structure as the Donchester Property adjacent to the West (south side of the same syenite porphyry intrusive).
Approximately 7,100 tonnes averaging 3.20 g/t Au was mined up to 1944.
Central Duparquet Mine Property (Gold)
Property Size: 293 hectares
Location: Eighteen contiguous claims situated between the Donchester and Dumico property.
The property is adjacent to the East to the Donchester Property and covers the same geological
formations along the Porcupine-Destor Break.
Hunter Mine Property (Copper, Silver)
Property Size: 942.2 acres
Location: Duparquet Township, Quebec
History
The mineralized zones occur along the contacts between felsic volcanic tuffs and rhyolites; at least 3 parallel structures have been observed.
Some 391,000 tonnes averaging 1.09% Cu was mined up until 1957.
A total of 329,000 drill indicated and measured tonnes of the same grade are reported down to the 4th level. The shaft was developed on the 2nd, 3rd and 4th levels. This estimate is historical. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources.
There are silver values associated with the copper zones.
Cat Lake Mine Property (Nickel, Copper)
Property Size: 238 hectares
Location: The property consists of mining leases located northeast of Winnipeg and along the border between Manitoba and Ontario. Roads exist to the site and rail is located within 50 miles of the site.
History
Historically, ore was stockpiled from four underground levels up until 1957. A 1,000 t/day concentrator was installed on the property but was never operational at time of closing in 1957.
A 1976 resource estimate by the Manitoba Dept. of Mines was 585,860 tonnes averaging 0.20% Ni and 0.53% Cu. This estimate is historical. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources.
Management
Board of Directors:
Ross Glanville - B.Sc., P.Eng., CGA, MBA,
Position: Chairman
Michel Bouchard - B.Sc., M.Sc., P.Geol, MBA,
Position: Director
Philip Nolan – LLB
Position: Director
Peter Gundy - LLB
Position: Director
Management:
Michel Bouchard – B.Sc., M.Sc., P.Geol, MBA,
Position: CEO and President
Louis Martin - P. Geol.
Position: Vice President Exploration
Louis Dufour - CA
Position: Chief Financial Officer
Harry Miller –
Position Secretary
Major Shareholders
Summary Market Data:
Exchange: TSX Venture Exchange – TSX.V: CFO
Exchange : Frankfurt C3T
Shares Issued : 35,654,390
Shares Fully Diluted: 40,274,390
For more information CLICK HERE
Contact Information
Corporate Address
1040, Belvedere Avenue
Suite 217
Quebec (Quebec) G1S 3G3
Canada
Phone 418-914-9922
email : jblackburn@cfo-star.com
Corporate Information
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