Toronto, Ontario, August 5, 2009.Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) is pleased to report complete assay results from recently drilled holes from the Company’s Eagle One deposit, including hole NOT-09-49, at its McFaulds Lake Project located in the James Bay Lowlands within the Ring of Fire mineral district.
Hole NOT-09-49 intersected two lenses of mixed disseminated to massive sulphides under the current Eagle One Deposit, now referred to as Eagle 1A:
Eagle 1B (the first lens) located vertically under Eagle 1A returned;
- 178.8 metres averaging 1.2% Ni, 0.5% Cu, 0.9 g/tonne Pt, 2.0 g/tonne Pd from 306.7 meters to 485.5 meters including;
- 2.0 metres averaging 2.5% Ni, 2.0% Cu, 0.4 g/tonne Pt, 4.7 g/tonne Pd
- 4.7 metres averaging 5.3% Ni, 1.3% Cu, 0.6 g/tonne Pt, 5.3 g/tonne Pd
Eagle 1C (the second lens) also located vertically under Eagle 1A and directly under Eagle 1B returned;
- 149.5 metres averaging 2.4% Ni, 1.1% Cu, 1.0 g/tonne Pt, 5.1 g/tonne Pd from 796.2 metres to 945.7 metres including;
- 23.7 metres averaging 5.2% Ni, 1.0% Cu, 0.2 g/tonne Pt, 7.9 g/tonne Pd
- 21.0 metres averaging 2.5% Ni, 1.0% Cu, 0.4 g/tonne Pt, 5.3 g/tonne Pd
As described in the Company’s Press Release dated June 29, 2009 http://www.norontresources.com/News/getDocument/notpr-2009.06.29.pdf/147 Hole NOT-09-49 intersected two separate lenses of mixed disseminated and massive sulphide mineralization located vertically below the previously interpreted limits of the Eagle One deposit.It is Management’s opinion that the following assay results confirm that both Eagle 1B and 1C, have the potential to increase Noront’s nickel, copper and platinum group element resource base at the McFaulds Lake Project in the Ring of Fire.In October 2008, P&E Mining Consultants estimated a combined Indicated and Inferred resource for the Eagle One (Eagle 1A) lens of 2.9 M tonnes averaging 2.1% Ni, 1.2% Cu, 1.2 g/tonne Pt, 4.1 g/t Pd and 4.0 g/tonne Ag. For a detailed summary of the P&E resource estimate please refer to Noront’s website http://www.norontresources.com/Investors/getDocument/NI43101-2008.12.10-ringOfFire.pdf
Noront’s President and CEO Wesley Hanson P.Geo, states, “analytical results are consistent with the existing Eagle One NI 43 -101 resource estimate. More importantly we are pleased to note that the contained platinum and palladium grades suggest that both Eagle 1B and 1C were likely emplaced as part of a single mineralizing event, supporting the geological model proposed by our exploration team.”
At present, three drills are currently active, testing the extent of the newly discovered mineralization, which extends vertically below the original Eagle One deposit, and located entirely within Noront’s existing land holdings. A total of five holes; NOT-09-45 through NOT-09-49 have been completed and assayed to date.
Hole #NOT-09-45 through NOT-09-48 were all targeted below the interpreted bottom of the Eagle One discovery.
Holes 45 and 47 intersected the upper portion of the Eagle 1B lens.
Hole NOT-09-49, initially planned as a platform for borehole geophysical surveying, was a vertical hole targeted to trace the interpreted, vertical dipping conduit system that emplaced the original Eagle One discovery. The concept was to drill as close as possible to the conduit so that down-hole geophysics could be utilized to identify other potential lenses of nickel, copper sulphides. This was successively accomplished as the hole crossed in and out of the main footwall granodiorite-periodotite conduit contact no less than five times before reaching its final depth of 1004.1 meters. In the process, the hole cut two distinct lenses of mixed disseminated to massive sulphides.
The following table summarizes the results of holes NOT-09-45 through NOT-09-49.
|Hole ID||From||To||Int.||Mineralization Type||Ni||Cu||Pt||Pd||Au||Ag|
|NOT-09-45 Eagle 1B-Lens|
|NOT-09-46||No Significant Assays|
|NOT-O9-47 EAGLE 1B-LENS|
|NOT-09-48 EAGLE 1B-LENS
|NOT-09-49 EAGLE 1C-LENS|
None of the intersections reported here represent true widths, which cannot be determined at this time.Hole NOT-09-49 was orientated parallel to the vertical plunge of the Eagle One conduit and as such it is assumed the vertical depth extent of the new Eagle 1B and 1C lenses will each attain a minimum 200 meters.
Current drilling continuing at Eagle One consists of a series of angle holes targeting the Eagle 1B and 1C lenses to further delineate their dimensions.
To view a plan and cross-section of the new drill holes as well as holes being currently drilled below Eagle One, please refer to Noront’s website http://norontresources.com/find/id/15/rb Results on new holes are pending and will be released when available.
Currently, all drilling at site is utilizing directional drilling tools and all completed holes are surveyed using down-hole electromagnetics (EM). The down-hole electromagnetic surveys will assist in defining the Eagle 1B and 1C lenses in advance of follow up drilling.
John Harvey, Chief Operating Officer, notes, “the discovery of the new base metal mineralization beneath Eagle One has greatly stimulated our exploration efforts and we look forward to increasing the Eagle 1 resource estimate. All future drilling will focus on defining the new lenses of nickel, copper and platinum group elements along the vertical trend below Eagle 1A.”
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.Approximately 10% of the samples are sent to a secondary lab as a monitor on the principal lab.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 followed 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.
Drill results in this press release have been approved by John Harvey, P.Eng. Chief Operating Officer and Director of Exploration Jim Atkinson, P.Geo. both Qualified Persons under Canadian Securities guidelines.
Quality Assurance and Quality Control:
All holes drilled are systematically logged and then sampled. Samples are shipped regularly to Actlabs in Thunder Bay, Ontario for sample preparation and initial analysis (TD-ICP) following strict chain of custody procedures.Whole rock assay including V2O5, TiO2, and Fe2O3 is performed at Actlabs by fusion X-ray fluorescence analysis (fusion XRF).For fusion XRF assays the samples are melted with borate fluxes and quenched to a glass bead, which is then irradiated with X-rays.The secondary X-ray emissions are counted and used, with reference to several calibrants, to determine the whole rock composition including the analytes and all other major oxide components of the rock.For more information on Actlabs analytical procedures please visit the Actlabs website at: http://www.actlabs.com. Under Noront’s QA/QC program each batch of 35 samples includes one blank, two internationally certified reference materials (ICRM; henceforth referred to as standards), one quarter-sawn field duplicate, a coarse reject duplicate, and a pulp duplicate.The pass/fail criteria for the new V standard are the same as for the Cr, Cu, Ni, Au, Pd and Pt standards previously reported. In particular, if measured concentrations in standards differ from accepted values by more than two standard deviations of the method as determined by numerous XRF repeats on the standards at Actlabs, the entire batch fails and is re-analysed.Duplicates and standards will be monitored to detect and correct, if necessary, any drift bias or changes in precision that might appear through time.All QA/QC procedures and checks are carried out by Tracy Armstrong, PGeo, of P&E Mining Consultants Inc, who acts as the Qualified Person for Noront on matters pertaining to assays.
Noront Resources is focused on its McFaulds Lake Project, a which includes 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 drill plan for 2009.All material information on the company can be found on its website at www.norontresources.com or on 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.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Wesley (Wes) C. Hanson
President & Chief Executive Officer”