TORONTO, ONTARIO December 21, 2007 Noront Resources Ltd. (“Noront”)(TSX Venture: NOT) is pleased to announce further progress of the diamond drilling and geophysical program, as well as recently received assay results on its 100%-owned Eagle One occurrence within Noront’s Double Eagle Project in the McFauld’s Lake Area of northeastern Ontario. “The Eagle One occurrence continues to display consistent high grade intersections of Nickel, Copper, Platinum and Palladium over quite impressive widths. The southerly stepout assay results in hole 19 confirms that the Ni-Cu-PGE sulphide zone continues within the southerly striking peridotite filled conduit. We will keep on tracing this to the south and to depth after the Christmas break.” states Richard Nemis, President and CEO of Noront.
- NOT-07-17 encountered the main mineralized zone between 96.5 meters and 177.5 meters downhole that over 81 meters averaged 0.77% Cu, 1.55% Ni, 0.91 g/t Pt, 2.97 g/t Pd, 0.13 g/t Au and 3.1 g/t Ag including a 7.5 meter wide massive sulphide intersection that averaged 1.54% Cu, 6.81% Ni, 2.17 g/t Pt, 6.62 g/t Pd, 0.15 g/t Au and 6.12 g/t Ag.
- NOT-07-18 intersected mineralization between 105.2 meters and 230 meters, however due to lab delays, the semi-massive to massive sulphide section from 215 to 230 is not yet available. A 59.2 meter zone of net textured sulphides between 132.5 meters and 191.7 meters averaged 0.93% Cu, 1.84% Ni, 1.28 g/t Pt, 3.15 g/t Pd, 0.45 g/t Au and 3.9 g/t Ag followed by a 23.3 meter wide semi-massive to massive sulphide mineralized zone that averaged 1.52% Cu, 2.7% Ni, 2.02 g/t Pt, 5.86 g/t Pd, 0.15 g/t Au and 4.97 g/t Ag.
- NOT-07-19 encountered the main mineralized zone between 104.2 meters and 110.8 meters over a drill intersection of 6.6 meters that averaged 0.63% Cu, 2.32% Ni, 1.13 g/t Pt, 3.93 g/t Pd, 0.06 g/t Au and 3.01 g/t Ag. This 37.5 meter stepout to the south is quite encouraging as the grade remains consistent.
- The on-going Aero-Tem-2 airborne geophysics is near completion. Other anomalies within 5 kilometers of Eagle One have been identified with similar geophysical expressions. These are high priority targets and will be drill tested in the New Year. Two new drills have been contracted and are scheduled to arrive in mid January 2008.
New drill hole data (assays received)
|Hole||from (m)||to (m)||int (m)||Cu (%)||Ni (%)||Pt (g/t)||Pd (g/t)||Au (g/t)||Ag (g/t)|
|NOT-07-18||Assays pending for deepest mineralized section|
|followed by||215.0||130.0||15.0||Assays pending (Massive-Semi Massive sulphides)|
New Hole Summaries (assays received)
NOT-07-17 is positioned at the same collar location as hole NOT-07-16 with an initial dip of -60 degrees to undercut the mineralization encountered in the upper holes. This hole intersected well mineralized peridotite between 96.5 meters and 137.7 meters, then encountered net textured sulphide mineralization between 137.7 meters and 170 meters. Between 170 and 177.5 massive sulphide mineralization was encountered, followed by altered peridotite to a depth of 178. The hole then entered granodiorite and was stopped at 191 meters total depth. The net textured mineralized zone over 32.3 meters averaged 1.28% Cu, 1.73% Ni, 1.31 g/t Pt, 3.68g/t Pd, 0.21 g/t Au and 5.24 g/t Ag. This was followed by a 7.5 meter wide massive sulphide intersection that averaged 1.54% Cu, 6.81% Ni, 2.17 g/t Pt, 6.62 g/t Pd, 0.15 g/t Au and 6.12 g/t Ag.
NOT-07-18 was also positioned at the same collar location as hole NOT-07-17 and NOT-07-16 undercutting the mineralization encountered in the two upper holes. The initial dip of this hole was set at -69 degrees. Between 105.2 meters and 132.5 meters the hole entered well mineralized peridotite, then it entered into a long section of net textured sulphides in peridotite between 132.5 to 191.7 meters. Then from 191.7 to 230 meters the hole encountered semi-massive to massive sulphides before the hole encountered granodiorite. The 59.2 meter long net textured mineralized zone averaged 0.93% Cu, 1.84% Ni, 1.28 g/t Pt, 3.15 g/t Pd, 0.45 g/t Au and 3.9 g/t Ag. This was followed by a 38.3 meter long semi-massive to massive sulphide mineralized zone, however due to lab delays only the first 23.3 meter section of this zone is available. This 23.3 meter section averaged 1.52% Cu, 2.7% Ni, 2.02 g/t Pt, 5.86 g/t Pd, 0.15 g/t Au and 4.97 g/t Ag. The remaining 15 meter wide massive sulphide section averages will be announced upon receipt.
NOT-07-19 was completed along an E-W section representing a 37.5 meter step-out section to the south of holes 17 and 18 along the mineralized body. The hole was drilled at local grid collar location 50+83E at 10+50N with an initial azimuth of 270 degrees and an initial dip of -45 degrees. Peridotite was intersected at 20.1 meters downhole, variably mineralized between 46.5 and 64.5 meters, assays for this section were low. This hole then entered weakly mineralized peridotite, between 64.5 meters and 74.2 meters downhole, then from 93 to 104.2 the mineralization increased getting more pervasive until around 109 meters downhole, intersecting a few mafic and felsic dikes. Between 109 and 109.2 massive sulphide was intersected, followed by altered peridotite until 110.8 when granodiorite and another mafic dike was encountered to the end of the hole at 132 meters. The main mineralized zone in this drillhole was encountered between 104.2 and 110.8 over a drill intersection of 6.6 meters that averaged 0.63% Cu, 2.32% Ni, 1.13 g/t Pt, 3.93 g/t Pd, 0.06 g/t Au and 3.01 g/t Ag. This 37.5 meter stepout to the south is quite encouraging as the grade remains consistently high.
Please note that the drill intercepts mentioned herein are not true widths, any reference to true width at this time in the exploration of the Eagle One MMS occurrence would be misleading. The mineralized body is an irregular tubular shape plunging towards the south, based upon the drilling to date.
Table 1 Local Grid and UTM Co-ordinates For New Holes
|Drill Hole||Northing (m) Local grid||Easting (m) Local grid||Northing UTM||Easting UTM||Azimuth at collar (degrees)||Dip (degrees)||Elevation (mASL)||Length (m)|
Please note that the local grid collar locations are measured from the NW – SE oriented un-surveyed picket lines, whereas the UTM (Universal Transverse Mercator) co-ordinates are the GPS surveyed collar locations. The latter should be used when plotting drill holes as this co- ordinate system provides ease in relating the drilling to the geophysical and other surveys. An drill collar location plan of the area has been added to the Noront website www.norontresources.com, showing locations of earlier drill hole collar locations as well as highlights from each hole drilled. This drill plan will continue to be updated as new information is received.
The Universal Transverse Mercator (UTM) coordinate system is a grid based method of specifying locations on the surface of the Earth. It is universally recognized but differs from the traditional method of latitude and longitude in several respects (taken from Google). Noront has completed 5,335.6 meters of diamond drilling in 29 diamond drill holes (including one current hole that is incomplete) on the Eagle One Ni-Cu-PGE occurrence since starting the drill program in late August. The following table summarizes recent drill hole locations (based upon local and UTM grid coordinates) and provides details of the drilling completed thus far. Some of the drilling in the last two months was designed to meet the minimum requirements for a preliminary resource estimate and specific gravity measurements have been obtained from the drill core as required by the Company’s independent consultants. Fill in holes within the known mineralized body are necessary in order to comply with NI-43-101 guidelines for resource estimates. Based upon the size of the occurrence, it is currently anticipated that an additional 6 holes are necessary to be completed. In the event that new mineralization is encountered that alters the shape and extent of the current body as it is presently understood, the number of holes required would increase accordingly. The Company plans on proceeding with a mineral resource study in early 2008.
Drill hole summary descriptions (since last release Dec. 12, 2007)
Hole NOT-07-28 was drilled at local grid collar location 51+74E at 10+69N with an initial azimuth of 270 degrees, being the same location as hole NOT-07-26 that was earlier abandoned. The dip was reset at -51 degrees to go around casing and rod lost in hole 26. After 14.8 meters of overburden and limestone this hole entered granodiorite until 128.1 meters when olivine gabbro was encountered until 140.1 meters. Between 140.1 and 169 meters, peridotite was encountered, followed by mineralized peridotite to 175 meters. Net textured mineralized peridotite was then encountered and the hole remained in this rock unit until 202 meters, the hole has been suspended for season ending break. This hole will be completed in early 2008.
Hole NOT-07-29 was drilled at local grid collar location 51+16E at 11+66N with an initial azimuth of 090 degrees and an initial dip of -45 degrees. After 9.7 meters of overburden and limestone the hole entered granodiorite mixed with mafic dikes until 24 meters after which the hole entered mineralized peridotite until 26.1 meters when a narrow intersection of massive sulphide was encountered between 26.1 and 26.5 meters, this was followed by a thin felsic dike to 26.85 meters, then the hole encountered another section of variably mineralized peridotite until 35 meters. Net texture sulphide mineralization in peridotite was then intersected until 70.5 meters, followed by mineralized peridotite until 84.2 meters. The hole then entered granodiorite until it was terminated at 87 meters. The mineralized section in this hole was over 60.2 meters, between 24 meters and 84.2 meters.
All field crews with the exception of the Aeroquest airborne crew and camp watchman have left the project area for the Christmas break. Aeroquest is expected to be leaving by this weekend, returning in the New Year to continue the airborne program. Ground exploration will also resume early in the new year, linecutters will be the first back in, along with the necessary helicopter support staff followed by geophysical crews. Maintenance will be performed on the drill equipment during this period, drill crews are scheduled to arrive in mid January to resume drilling. Two new drills have been contracted from an additional drill service provider (Forage Orbit Garant) from Val D’Or Quebec, that are scheduled to arrive in mid January 2008.
Ground geophysical surveys are being compiled and are under review, focused on the Eagle One occurrence and its immediate surroundings. Several airborne anomalies, with geophysical attributes similar to the Eagle One occurrence, have been identified in the preliminary presentation of the Aeroquest airborne data. These anomalies are located to the south and west of the Eagle One occurrence as well as to the northwest, all within 5 kilometers of Eagle One. Each of these anomalies will be detailed by ground geophysics prior to drill testing.
On Site Quality Assurance / Quality Control Measures
The aforementioned assay and sample information, as well as geological descriptions are taken from drill logs as prepared by two site geologists for the drill program, Dr. Howard Lahti, P.Geo., of Fredericton, New Brunswick and Mike Kilbourne, geologist from Newmarket, Ontario. Billiken Management Services Inc. is providing all services on site for the Noront Double Eagle Project, from their base camp at McFaulds Lake. Billiken is a holder of Certificate of Authorization issued by the Association of Professional Geoscientists of Ontario.
All assay work and sampling procedures have been included in earlier news releases. Chain of Custody includes delivery to ALS Chemex Laboratory in Vancouver BC, where all samples undergo analysis using ALS Chemex assay procedure AA46 for nickel, copper and silver, and ICP24 for Au, Pt, and Pd. When samples received over-limit values they underwent further analysis using ALS Chemex assay procedure ICP27 (for gold, platinum and palladium), as well as GRA21 for gold. The reader is referred to: www.alschemex.com for details of these analytical procedures.
Independent Quality Assurance and Quality Control Protocol
Gold, platinum and palladium are assayed using fire assay on a 50 gram nominal sample weight with an ICP-AES finish. Nickel and copper are assayed using aqua regia (3-acid) digestion with either ICP-AES or AAS finish. A comprehensive QA/QC program has been implemented to monitor all assays on the Double Eagle Project. Samples are assembled in numbered batches of 77 samples, which equates to the number of client samples per furnace batch at ALS Chemex. Included in each batch of 77 samples are 4 certified reference material samples, 3 blank samples comprised of sterile drill core, and 4 field duplicate samples. This QC program was set up for Noront by Tracy Armstrong P.Geo, of P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario. Ms. Armstrong is a qualified geologist in the Provinces of Ontario and Quebec. Assay results are being monitored on an on-going, real time basis for accuracy, contamination and precision by P&E. The current sample set will be reviewed by Ms. Armstrong once some additional batches are completed, and will be reported upon in a timely manner.