INDICATED RESOURCES OF 1.71 MILLION OZ INFERRED 1.
Clifton's Duparquet at 19,000 t of 2.1 g/t Au measured
2012-05-24 07:37 MT - News Release
Mr. Michel Bouchard reports
CLIFTON STAR ANNOUNCES NI 43-101 INDICATED RESOURCES OF 1.71 MILLION OZ. AND INFERRED RESOURCES OF 1.67 MILLION OZ. AT DUPARQUET
Clifton Star Resources Inc. has completed the first 3-D block model and an integrated mineral resource estimate on the Duparquet project, which also includes the Beattie tailings. The NI 43-101 estimate, dated May 22, 2012, was prepared by InnovExplo Inc., mining consultants from Val-d'Or, Quebec. The report will be filed on SEDAR in the coming weeks.
The estimate is based on 223 surface channel samples and 668 surface holes, totalling 211,259 meters, and 134,766 samples. QA/QC analyses were carried on 18,453 samples (only duplicate samples, excluding blank and standards). Resources were estimated using square inverse distance interpolation method in a block model. A high grade capping of 25g/t Au and a minimum true thickness of 3 meters were used. Gold recovery of 92.8% was incorporated, based on recent metallurgical testing at SGS Lakefield. Combined mining and milling costs of $24/t were used in the Whittle open pit simulations. For the base case scenario, a $1380 CDN /oz gold price and a cut-off grade of 0.60 g/t Au were used for determining the In-Pit resources.
The same 0.60 g/t Au cut-off was used for the Beattie tailings, where most of the resource is in the Indicated category, and includes some Measured resources. This resource of the tailings is based on 258 holes and 450 samples.
For the underground Mineral Resource estimate, a 2.0g/t cut-off and a minimum true thickness of 3 metres were used.
Previously released NI 43-101 resource estimates on the Duparquet project had only resources in the Inferred category. In the present estimate, more than half of all the resources are now in the Indicated category on the basis of contained ounces.