TORONTO, ONTARIO September 25, 2007 Noront Resources Ltd. (“Noront”)(TSX Venture: NOT) is pleased to announce final assay results from the first two holes of the diamond drilling program started on August 24, 2007 on its’ recently optioned claims where Noront is earning a 100 % interest, subject to royalties, on the Company’s Double Eagle project located in James Bay Lowlands, northeastern Ontario.
(See press release dated May 27, 2007 for details of this agreement.)
- Hole NOT-07-01final assay results include; 36 meters averaging 1.84% Nickel, 1.53% Copper, 1.14 g/t Platinum, 3.49 g/t Palladium, 0.13 g/t gold and 4.8 g/t silver.
- Hole NOT-07-02 final assay results include; 57.9 meters averaging 2.02% Nickel, 1.40% Copper, 1.00 g/t Platinum, 3.27 g/t Palladium, 0.14 g/t Au and 5.3 g/t silver.
- Results from Hole NOT-07-05 that encountered massive chalcopyrite (copper sulphide), pyrrhotite (iron +/- nickel sulphide) and pentlandite (nickel sulphide) over 65.4 meters are pending
- Drilling continues to explore new discovery, detailed ground geophysical program underway
- Acquisition of additional claims surrounding the discovery area and elsewhere
As reported on September 10, 2007, the first hole of drill program NOT-07-01 intersected copper sulphide (chalcopyrite) and nickel sulphide (pentlandite and pyrrhotite) mineralization in a magmatic peridotite geological setting; the presence of significant platinum group metals in this mineralizing system has been confirmed, along with significant copper and nickel mineralization. The initial hole was drilled at -45 degrees on Section 51+00NE at station 12+25 NW drilled southeast. This hole intersected sulphide mineralization between 54.97 meters core length to 126.5 meters core length (71.53 meters of sulphides), the hole was terminated at 140 meters total length. Hole NOT-07-02 was drilled from the same setup as the previous hole, however the initial dip was set at -65 degrees, drilling southeast. This hole undercut the first hole and intersected sulphide mineralization between 91.09 meters core length to 177.5 meters core length (86.41 meters of sulphides). This hole was terminated at 191 meters total length. The following table provides the averages of the first two holes.
|Hole||from (m)||to (m)||int. (m)||Cu (%)||Ni (%)||Pt (g/t)||Pd (g/t)||Au (g/t)||Ag (g/t)|
As stated earlier (September 19, 2007) additional holes have been completed on the Double Eagle project. Hole NOT-07-03 and NOT-07-04 were positioned 100 meters to the northeast and southwest of the first two holes respectively. These holes failed to intersect the mineralized zone and were in granodiorite for the entire length. These two holes were designed to test near surface, the northeastern and southwestern extension of the electromagnetic and magnetically rendered anomaly. Possible strike extensions to the mineralized zone are being determined from current geophysical surveying.
Hole NOT-04-05, observed to be the most significant hole to date, was positioned 50 meters to the northeast of Holes NOT-07-01 and 02 and was drilled vertically at the peak of a magnetic anomaly to ascertain the magnetic body’s more precise location. Peridotite with interstitial chalcopyrite, pyrrhotite and pentlandite was encountered between 7 meters and 47.4 meters. Between 47.4 and 112.6 meters, massive chalcopyrite, pyrrhotite and pentlandite was observed. Then from 112.6 to 123.3 meters peridotite with interstitial chalcopyrite and pyrrhotite was observed. Between 123.3 and 124.4 meters, another massive section of chalcopyrite, pyrrhotite and pentlandite was observed. The hole then remained in peridotite until 127.4 meters core length, then entered granodiorite until the end of the hole at 143.4 meters. Assay results from this hole are pending and will be released as soon as the entire set of sample results from this hole are completed.
Hole NOT-07-06 has been completed to 384 meters total depth, it was drilled from the east to undercut Hole NOT-07-5 that was drilled vertically, returning core length intersections not representing true width. The positioning of this drill hole was designed to determine a dip of the sulphide occurrence, however the hole remained in granodiorite for its entire length. True width of the PGM enriched nickel-copper sulphide body is not yet determined. Detailed ground magnetic and horizontal loop electromagnetic surveys are underway and nearing completion and will be reviewed immediately. In addition, MISSE A LA MASSE (MALM) borehole and surface surveys are underway to provide 3D mapping of this occurrence, results of which will be used to facilitate a more detailed interpretation of the sulphide target.
Hole NOT-07-07 is now underway. This hole is positioned at the same location as holes NOT-07-01 and 02, however the azimuth is due east, to undercut Hole NOT-07-05 from the west. The initial dip of this new hole is set at -45 degrees.
The aforementioned assay and sample information, as well as geological descriptions are taken from drill logs as prepared by site geologists for the drill program, Dr. Howard Lahti, P.Geo., of Fredericton, New Brunswick and Mike Kilborne. Billiken Management Services Inc. is providing all services on site for the Noront Double Eagle Project, from their base camp at McFaulds Lake.
All samples herein were selected, and sealed and readied for shipment to ALS Chemex laboratory in Thunder Bay Ontario, they were assigned a “RUSH ASSAY” request. All samples reported upon herein were selected by either Dr. Howard Lahti, P.Geo. or Mike Kilbourne (geologist), and were cut in half by diamond core saw. Individual samples were labeled, placed and sealed in plastic sample bags. Groups of samples were then placed into durable rice bags that were secured by project security tags and then placed into plastic pails for shipping. Plastic pails were delivered via bonded carrier to ALS Chemex’s sample preparation laboratory in Thunder Bay, Ontario. All samples were then crushed and pulverized, then sample pulps were sent to ALS Chemex Laboratory in Vancouver B.C. for analysis, remaining coarse reject portion of the samples remain in storage at the ALS Chemex storage facility in Thunder Bay. In Vancouver, the samples underwent multi- element analysis using ALS Chemex assay procedure ME-MS61, and PGM MS24 for Au, Pt, and Pd. When samples received over-limit values they underwent further analysis using ALS Chemex assay procedure Cu- OG62 (for copper) and Ni-OG62 (for nickel), and PGM – ICP27 (for gold, platinum and palladium). The reader is referred to: www.alschemex.com for details of analytical procedures.
In light of this exciting discovery, Noront continues with an aggressive staking campaign surrounding its existing Double Eagle claim group and other selected targets in the McFaulds Lake area.