Toronto, Ontario, September 15, 2009.Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) is pleased to report newly obtained assay results of completed drill holes from the Company’s Eagle’s Nest deposit at the McFauld’s Lake Property located within the Ring of Fire mineral district. The Eagle’s Nest deposit currently includes the original Eagle 1 deposit now known as the Eagle 1Aas well as the 1B and 1C lenses recently discovered beneath Eagle 1A.
Nine holes with complete results are being reported herein, including six holes with significant assay results, two holes with no significant assay results and one hole abandoned before reaching the target area due to excessive deviation.
- Hole #NOT-09-53W1 intersected 54.7metres (873.3- 928m) averaging 2.31% Ni, 1.91% Cu, 1.43gpt Pt and 5.77gpt Pd
- Hole #NOT-09-56 intersected 68.6 metres (526.4-595m) averaging 1.99 % Ni, 0.94% Cu, 1.05gpt Pt and 3.57gpt Pd
- Hole #NOT-09-57 intersected 50.81 metres (545.2-596.m) averaging 1.94% Ni, 1.05% Cu, 1.38gpt Pt and 3.38gpt Pd
Four of the six holes (NOT-09-55, 56, 57, 58) that returned significant results from the Eagle’s Nest tested the Eagle 1B lens) and two (NOT-09-53, 53W1) tested the Eagle 1C lens, both located vertically under the near surface Eagle 1A lens as described in Noront’s previous press release dated August 5, 2009.
The following table summarizes the results from holes NOT-09-51 through NOT-09-58.
Hole NOT-09-50 was not drilled in the Eagle’s Nest conduit but tested another conduit 200 meters to the south-east of hole NOT-09-49 with no significant results.This hole was planned and executed as a platform for borehole electromagnetic surveys (BHEM).
Noront’s President and CEO, Wes Hanson, states: “The Eagles Nest continues to return grades that are consistent with those estimated for the Eagle 1A resource, confirming the potential to increase our nickel, copper and platinum group element resources through additional drilling of the 1B and 1C lenses. Our exploration focus will continue to be directed towards this goal for the immediate future. We have also initiated a detailed review of the significant geophysical data collected at McFauld’s Lake with the objective of prioritizing future targets for 2010 and beyond.”
The following table summarizes the results of the nine holes disclosed herein:
|Hole ID||From (m)||To (m)||Int (m)||Mineralization Type||NI %||CU %||Pt %||Pd g/t||Au g/t||Ag g/t|
|NOT-09-51||NO SIGNIFICANT RESULTS|
|NOT-09-52||NO SIGNIFICANT RESULTS|
|NOT-09-54||ABANDONED BEFORE ZONE|
The mineralized intervals do not represent true widths, which cannot be determined at this time.
Please refer to Noront’s website to view a surface plan,please view http://norontresources.com/find/id/18/Cc showing the location of the drill hole collars and a horizontal trace of their paths.Also on the Noront website is a longitudinal section please view http://norontresources.com/find/id/19/$wshowing the pierce points and traces of the mineralized intersections through the Eagle 1B and 1C lenses.
Jeremy Niemi, Noront’s Vice President Geology notes; “While drilling conditions have been challenging, especially considering the depth of the Eagle 1B and1C lenses, the exploration team is adapting to the conditions and continuing to expand our understanding of these two new lenses. Each hole sheds new light on our deposits and with the recent addition of a fourth, more powerful drill and full time directional drilling controls, this will benefit the exploration effort at Eagle’s Nest going forward.”
At present, four drills are currently active, testing the dimensions of the Eagle’s Nest lenses in all directions with the intent of increasing the nickel-copper and PGM resources.Three of the drills are testing the mineralized areas down to a vertical depth of 1,000 meters and a fourth drill recently added, is capable of reaching 1,500 meters vertically.Additional drills capable of testing in excess of 1,500 meters will be added during the winter drill program.
Directional drilling equipment is now onsite to ensure the drilling targets are encountered with minimal drill hole deviation and to permit wedging or fanning from “master holes” at depths where new holes from surface would be less efficient and more time consuming.
All drill holes are currently evaluated using Bore Hole geophysics (BHEM) to assist in the interpretation of the nickel-copper-PGE mineralization and to assist in targeting future drill holes.Since hole NOT-09-49, all drill holes targeting the Eagle’s Nest have been angle holes planned to cross the vertically dipping mineralization along east-west cross sections parallel to east-west coordinate lines of the Universal Transverse Mercator (UTM) grid system.A surveyed (GPS Gradient) grid of east-west lines with UTM coordinates has been established on the surface to facilitate accurate orientation of the drill hole collars.Results from additional drilling will be released as complete results from new holes become available.
Noront Resources would like to inform shareholders that effective September 15, 2009, John Harvey will be leaving the Company.Mr. Harvey’s contributions to Noront will be forever be associated with the Company’s current and future success in the Ring of Fire.On behalf of all management and employees of Noront Resources, we wish John all the best in the future.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the Eagle One project which includes grouping samples into batches of 35 into which are added 2 certified reference material standards, 2 field and pulp duplicates also form part of the QC program.It can be said with confidence that all assays are reported in this Press Release have passed the strict quality control guidelines as set out by Noront’s independent Qualified Person (“IQP”).
All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario.The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digestion and by ICP analysis.The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES.For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish.Silver was analyzed using a 3-acid digest with an ICP analysis.For more information on assay methodology please visit the Activation Laboratories Ltd. Website at http://www.actlabsint.com.
Preparation of drilling results in this press release has been supervised by Noront’s senior management including Jeremy Niemi, P.Geo. Vice President, Geology, who is a Qualified Person under Canadian Securities Administrators guidelines. At the current stage of exploration there is insufficient drilling to determine the extent of continuity of the mineralization required to define a mineral resource at Eagle 1B and 1C.
Noront Resources is focused on its significant and multiple, high-grade nickel-copper-platinum-palladium, chromite and vanadium discoveries in an area known as the “Ring of Fire”, an emerging multi-metals district located in the James Bay Lowlands of Ontario, Canada.Noront is the dominant land holder at the Ring of Fire and continues to delineate and prove up its discoveries with NI 43-101 technical and economic reports and an aggressive and well financed drill plan for the remainder of 2009 and 2010.All material information on Noront can be found on the Company’s website at www.norontresources.com or at SEDAR at www.sedar.com
For further information please contact Joanne Jobin, Vice President Corporate Communications at (416) 367-1444 ext 126, or visit Noront’s website at: http://www.norontresources.com.
Wesley (Wes) Hanson
Chief Executive Officer