Exploration Update for Noront McFaulds No.8 VMS Discovery

Summer Drilling Program Intersects 10.1 Metres of 3.3% Copper 215 Metres Down-dip of MCF-18-98

TORONTO, Sept. 16, 2019 (GLOBE NEWSWIRE) — Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to provide an update on the Phase-2 summer exploration program at its 85% owned McFaulds VMS property in the Ring of Fire.

The copper-zinc focused diamond drill program, completed in July, tested the down-dip continuity of the McFaulds No.8 VMS deposit, which previously returned 26.4 metres of massive sulfide grading 2.1% copper, 3.4% zinc, 5.5 grams per tonne silver and 0.2 grams per tonne gold in hole MCF-18-98.

Highlights include 10.1 metres grading 3.3% copper in hole MCF-19-103 which intersected the McFaulds No.8 deposit 215 metres down-dip from hole MCF-18-98 representing the largest step-out intersection at McFaulds No.8 to date.

Hole MCF-19-103 was targeted using a bore-hole electromagnetic (BHEM) plate modelled from the earlier winter 2019 Phase-1 drilling results which indicated a pronounced change in the orientation of the mineralization at McFaulds No.8 from a near vertical plunge to a moderate north-easterly plunge (See Figure 1). Copper-rich stockwork mineralization was intersected deeper than anticipated due to a steepened dip of the mineralization, which is hosted in strongly chlorite altered felsic volcanic flow rocks more typically observed in the footwall assemblages further up dip. Alteration consists of intense chlorite-magnetite replacement within an 80-metre sequence of the host felsic volcanics and returned the highest alteration index encountered to date at McFaulds No.8. BHEM surveying of MCF-19-103 identified a strong conductor up dip from the intersection correlating with the known massive sulfide mineralization at MCF-18-98.

“We believe we are now into the copper-rich stockwork zone of this VMS deposit based on the banded form and copper-rich nature of this intersection, the intensity and width of hydrothermal alteration, and the marked change in orientation and stratigraphic position of the mineralization in MCF-19-103 compared with holes further up dip,” said Noront Vice President Exploration, Ryan Weston.

To date, 8 drill holes totalling 5,300 metres have intersected the McFaulds No.8 VMS deposit over a dip extent of roughly 600 meters (See Figure 1), defining copper-zinc mineralization to a vertical depth of 830 metres below surface. The deposit remains open along strike and at depth. Table 1 provides a summary of intersections at McFaulds No.8 including results from hole MCF-19-103.

Table 1
McFaulds No.8 Drill Hole Intersections to Date
Drill Hole Hole Length
(m)
From
(m)
To (m) Width
(m)
Cu
(%)
Zn
(%)
Ag
(g/t)
Au
(g/t)
MCF-17-88 610.3 557.3 566.3 9.0 2.0 3.6 7.8 0.4
573.5 575.0 1.5 0.5 2.2 1.7
MCF-17-89 566.0 486.3 497.2 10.9 1.1 1.7 10.9 0.4
510.3 513.9 3.6 1.2 1.1 7.7 0.1
MCF-18-92 503.0 447.9 454.6 6.7 1.3 5.9 10.3 0.5
MCF-18-95 431.0 388.1 391.1 3.0 0.2 5.3 1.7
MCF-18-96 675.0 614.0 622.5 8.5 1.9 2.0 6.2 0.3
MCF-18-98 783.0 707.3 733.8 26.4 2.1 3.4 5.5 0.2
MCF-19-102 788.0 660.0 680.0 20.0 2.0 0.1 4.8 0.1
MCF-19-103 944.0 866.0 867.1 10.1 3.3 NSV 6.5 0.2

To see an image of this table click here: https://www.globenewswire.com/NewsRoom/AttachmentNg/3f6511eb-12db-4219-85e3-15aa16a2b68e

Next steps include establishing a maiden 43-101 compliant mineral resource for McFaulds No.8 and evaluating further targets on the property, including the application of additional ground gravity surveys in 2019. Noront’s vision for the McFaulds property is to establish adequate copper-zinc resources through a collection of high-grade VMS deposits to support a central milling complex. The addition of the McFaulds No.8 deposit to the existing mineral inventory at McFaulds No.1 and No.3 significantly advances this goal.

Nickel Targeting Initiative
In conjunction with copper-zinc focused exploration programs on the McFaulds property, Noront is performing an extensive nickel compilation and targeting program on its properties throughout the Ring of Fire. The area possesses many geological traits favorable for magmatic nickel sulfide mineralization, including an abundance of ultramafic and mafic intrusive rocks and associated sulfur-bearing supracrustal sequences, major structures providing pathways through the crust, favorable magmatic plumbing systems in the form of shallow conduits, dykes and sills, and most importantly the presence of known mineralization including the Eagle’s Nest nickel-copper-PGE deposit and numerous other occurrences. To date the compilation program has identified over 30 targets warranting further investigation. These targets will be reviewed in detail and ranked for priority follow-up in the new year.

Quality Assurance and Quality Control (QA/QC) Program

Noront maintains a strict QA/QC protocol for all its drilling programs. Core logging and sampling is performed on-site under the supervision of geologists licensed by the Association of Professional Geoscientists of Ontario (APGO). Reference standards, field blanks, and duplicates are inserted into the sample stream at regular intervals. Once cut, drill core samples are labelled and sealed in individual bags then grouped into batches for shipping to Thunder Bay via Nakina under chain of custody documentation.

Samples are submitted to Activation Laboratories (Actlabs), an ISO-17025 certified laboratory in Thunder Bay, for sample preparation and multi-element analysis. This includes fire-assay for precious metals and total-digestion ICP-OES for base metals (exclusive of chromium which is analysed by XRF). Samples exceeding analytical upper limits are automatically run for over-limit analysis. Analytical results are sent electronically by Actlabs to a database manager at Noront whereupon the company’s internal standards, duplicates and blanks are reviewed for accuracy, precision and the presence of possible contamination. QA/QC results for each batch are reviewed by a Noront Qualified Professional prior to accepting and importing new assays into the database. All assays reported in this press release passed the Noront QA/QC program.

Figure 1: Cross-section (left) looking southwest, and long-section (right) looking southeast of modelled McFaulds No.8 deposit showing current interpretation of the massive sulfide domain (red) and the stockwork sulfide domain (yellow)https://www.globenewswire.com/NewsRoom/AttachmentNg/b4727d4a-da3c-4cdc-bd9f-a5ce1227a8c2 

About Noront Resources

Noront Resources Ltd. is focused on development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

Ryan Weston P.Geo., Noront Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI-43-101”) has reviewed and approved the technical information contained in this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information please contact:
Janice Mandel
janice.mandel@stringcom.com
(647) 300-3853

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation

Forward-looking information is based on reasonable assumptions that have been made by Noront as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Noront to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; that all conditions precedent to the transactions will be met; risks related to government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations (including those contained in the Feasibility Study) and changes in project parameters as plans continue to be refined; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Noront; stock market volatility; competition; risk factors disclosed in Noront’s most recent Management’s Discussion and Analysis and Annual Information Form, available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Noront’s ability to control or predict.

Although Noront has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual results and future events could differ materially from those reliant on forward-looking information.

All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Noront disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

sandboxExploration Update for Noront McFaulds No.8 VMS Discovery