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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Osisko and Clifton Star drill 70m at 1.94g/t gold at Duparquet project in Quebec 0 comments
    Nov 2, 2010 11:20 AM | about stocks: OSKFF.PK

    Osisko Mining (TSX: OSK)(FSX: EWX) and Clifton Star Resources (TSX-V: CFO)(FSX: C3T) announced Tuesday results from 35 additional drill holes from the 2010 drill program at their joint venture Duparquet project in the Abitibi region of Quebec, with intersections of 70 metres averaging 1.94 g/t gold.

    Significant intersections from the new drill holes on the Beattie property at the site include hole BD10-267, which interesected 49.3 metres averaging 2.05g/t Au, hole BD10-282, which returned 70.5 metres averaging 1.94g/t AU and 96 metres averaging 1.21 g/t Au.

    BD10-286 intersected 73.5 metres, averaging 1.70g/t Au and hole BD10-281 returned 132 metres averaging 0.94g/t Au.
    The companies said that a narrower, but "very high grade" intersection of 7.5 metres averaging 69.18 g/t Au, was encountered in BD10-284.

    The entire 2010 drilling program focused on three properties, including Beattie, Donchester and Duquesne, for an overall campaign of 122,800 metres, which is now completed.

    Osisko has the right to acquire a 50% interest in the Duparquet project, in exchange for total exploration payments of $70 million from 2010 to 2013, and extending loans to Clifton to fund option payments on the property of $8.5 million for 24 months, and $22.5 million for 36 months.



    Disclosure: No Positions
    Themes: Mining Stocks: OSKFF.PK
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