Clifton Star Reports 2011 Drill Results on Duparquet
(firmenpresse) - QUEBEC CITY, QUEBEC -- (Marketwire) -- 03/01/12 -- Clifton Star Resources Inc. ("CFO" or "Clifton") (TSX VENTURE: CFO)(FRANKFURT: C3T) is pleased to announce results from its 2011 drill program at the Duparquet Project, located along the prolific Destor-Porcupine Fault in the Abitibi region of Quebec. Drilling focused on the Beattie, Donchester and Central Duparquet properties.
From June to December 2011, Clifton drilled 85 holes for 26,754 meters. Most were deepening of previous 2010 holes to reach the North zone at depth.
The mineralization on the Duparquet Project is composed of a fairly well defined North and South Zone, as well as several smaller subvertical, and possibly folded, mineralized zones that extend in an east-west direction, and have been traced for over 2.6 km along strike (See Figure 1 of schedule 1). The individual mineralized zones, which can be up to 80m wide, include the North Zone, West Zone, RW Zone, RS Zones and the South Zone. A second mineralized syenite- porphyry (the Main Zone) occurs parallel and to the southeast of the Beattie-Donchester intrusion on the Central Duparquet and Dumico properties. The style of mineralization is similar in nature to the Beattie-Donchester Syenite but has seen significantly less exploration work in the recent past.
The 2011 exploration program on the Beattie Property continued the drilling on 100m spaced lines, while extending the depth extension of the mineralized zones from the initial 400m below surface to 500m metres below surface. Much of this was accomplished by extending previous drill holes, as well as collaring several new holes from surface. A large majority of the holes being reported today targeted the extensive and continuous nature of the North Zone. Several holes were also completed in high-grade pockets of the West Zone and RW-RS zones in order to better define the geometry and continuity of these zones. The results of the 2011 drill program are very encouraging, as can be seen from the results that are listed in the following summary tables in this news release, and the more detailed results in the tables provided immediately after the text of this news release.
Highlights from the 2011 drill program:
In 2011 Clifton completing 26,754.2 metres of drilling in 85 drill holes. This drilling included 29 drill hole extensions and 56 new holes collared from surface. A total of 13,037.2 metres of reaming was completed in the historical holes, along with 13,717 metres of new core drilling in the extended holes and new holes collared from surface. Twelve of these holes were drilled to collect material for metallurgical testing that was sent to SGS Lakefield.
All 2011 drill hole program data will be incorporated into a comprehensive NI 43-101 resource report on the Duparquet Project, which includes the Beattie, Donchester, Dumico and Central Duparquet properties, as well as the Beattie tailings, that is presently being prepared by InnovExplo, a mining consulting firm located in Val-d'Or. The Company expects to have the report conclusions available for release in April of 2012.
The InnovExplo NI 43-101 resource report will form the basis for retaining an independent consulting firm to prepare a Preliminary Economic Assessment ("PEA").
Clifton currently has 2 drill rigs on the Beattie and Donchester properties embarking on a 20 hole drill program that has been approved for the first half of 2012. The drill program will take advantage of extending existing holes that either ended in mineralization or were stopped short of the North Zone. The primary focus of the drilling until the end of the year will be continued surface exploration of the various zones at the Beattie, Donchester, Dumico and Central
Duparquet properties in order to better define the limits of the known mineralization between 400-600 metres below surface, as well as identify the limits of higher grade sections within the known zones.
Technical Information and Qualified Persons
The assay analyses performed during Clifton's drill programs are subject to a formal quality assurance and quality control (QA/QC) program. Diamond drill core was logged and sampled on site at the Company's exploration office in Duparquet, with samples transported by the Company and Courtesy Courier to Activation Laboratories Ltd. (Ste-Germaine de Boule and Ancaster), an independent accredited laboratory, for assay analysis. Standard reference materials, blanks, and field duplicates samples are inserted prior to shipment from site to monitor the quality control of the data. Check assay analyses are carried out by ALS Minerals, a laboratory that is also independent of the Company. Samples with higher grade gold (greater than 3 grams per tonne) are reassayed using a gravimetric and or pulps and metallic procedure. All assays greater than 30 grams per tonne were cut to 30 grams. The Company's exploration team designed and executed the 2011 drilling program under the supervision of Mr. Fred Archibald, P.Geo, The content of this news release has been written and approved Mr. Louis Martin P.Geo, a Qualified Person as defined by National Instrument 43-101.
Cautionary Statement on Forward Looking Information
Certain information included in this press release, including any information as to our future exploration, financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words 'expect', 'believe', 'will', 'intend', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, including the possibility that drill programs will not yield the expected results. The Company cautions the reader that such forward -looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Clifton Star Resources to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward- looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Company's most recent Form 20-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
Figures are available at the following address : .
Neither the TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Michel F. Bouchard
President and CEO
Clifton Star Resources Inc.
418-914-9922
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Datum: 01.03.2012 - 13:24 Uhr
Sprache: Deutsch
News-ID 120575
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Mining & Metals
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