Toronto, Ontario, October 20, 2009. Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) is pleased to report updated assay results, which now include platinum and palladium assays, which were incomplete from the press release issued October 15, 2009. The updated assays are from the Company’s Eagle’s Nest deposit at the McFaulds Lake Property located within the Ring of Fire mineral district in the James Bay Lowlands. The results are from the ongoing drilling targeted at extending the limits of 1B and 1C lenses discovered in August 2009. Drilling to date suggests that the Eagle 1B and 1C lenses may be a single unit with a current defined vertical length of over 700 metres.
Nine holes intersecting the Eagle’s Nest mineralization are being reported herein. Eight of the holes intersected significant assay results and one hole intersected minor mineralization.
- Hole #NOT-09-68 intersected 49.5metres (672.4-721.9m) averaging 2.22% Ni, 0.74% Cu, 1.26gpt Pt and 3.68gpt Pd
- Including 5.5metres(716.4-721.9m) averaging 7.49 % Ni, 0.95% Cu,
- Hole #NOT-09-63 intersected 14 metres (517.6–531.6m) averaging 2.92% Ni,1.14% Cu, 1.05gpt Pt and 5.21gpt Pd
- Including 3.4 metres (526.9-530.3m) averaging 7.28 % Ni, 1.71% Cu, 0.06gpt Pt and 6.43gpt Pd
- Hole #NOT-09-67 intersected 101 metres (530.7-631.72m) averaging 1.75% Ni, 1.07% Cu, 0.86gpt Pt and 2.71gpt Pd
All of the drill results reported herein, have contributed to the expansion of the mineralization limits of Eagle1B and 1C, most significantly, the area between the two lenses. Based on the continuity of the mineralization, it now appears that there is a single mineralized unit rather than two lenses.
Noront’s President and CEO, Wes Hanson, states: “We are extremely encouraged by our latest drilling at Eagle’s Nest which has increased the dimensions of the initial B and C lenses (now joined) and continues to demonstrate additional potential at depth. Over the next six months, our focus will be on continued drilling at Eagle’s Nest with the immediate objective of tracing the mineralization further to depth and upgrading a significant portion of the deposit to measured and indicated resources. ”
Assays for platinum and palladium are incomplete at the time of publishing of this press release but will be released as soon as they have been received and approved.
The following table summarizes the results of the twelve holes disclosed herein:
|HOLE ID||FROM (m)||TO (m)||INT. (m)||MINERALIZATION TYPE||Ni %||Cu %||Pt g/t||Pd g/t|
|NOT-09-60/61||Holes stopped due to excessive deviation at collar|
|NOT-09-62||No Significant Mineralization|
|NOT-09-53-W2||Drill rods stuck in hole prior to entering target area|
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/20/0e)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/21/l6)showing the pierce points and traces of the mineralized intersections through the Eagle’s Nest and the projected outline of the mineralization zones. For further information on the Eagle’s Nest deposit, please refer to the Company’s NI 43-101 – Standards of Disclosure for Mineral Projects compliant technical report “Technical Report and Preliminary Economic Assessment on the Eagle One Deposit, Double Eagle Property, McFaulds Lake Area, James Bay Lowlands, Ontario” (effective: October 20, 2008)” available on the Company’s website and at www.sedar.com.
Jeremy Niemi, Noront’s Vice President Geology notes; “These are extremely exciting times for the Noront exploration team. We have expanded the vertical extents of both the 1B and 1C lenses removing the gap between the two and are now defining the extents along strike and at depth. We have also added a fifth drill which will allow us to increase the rate at which we test the vertical extents of the mineralization.”
Currently five drills are active and all are testing the dimensions of the Eagle’s Nest lenses. Three of the drills are testing the mineralized areas down to a vertical depth of 1,000 metres and the fourth and fifth drills are defining the lower extents of the mineralization to a depth of 1,500 metres.
An extensive review of all historical geophysical work conducted on the McFaulds Lake property is currently underway with the intention of developing additional highly prospective targets for the upcoming winter exploration campaign. The winter campaign remains focused on defining the extents of the Eagle’s Nest, but the Company will also continue to test strong regional targets.
Earlier this summer Noront drilled two holes at targets close to the UC/Spider/KWG property boundary, approximately 15 kilometres to the west of Eagle’s Nest. Results revealed no significant mineralization in holes NOT-09-1G123 and NOT-09-1G127 and there are currently no plans to conduct additional work in this area.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the Eagle’s Nest 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 for all mineralization at the Eagle’s Nest. Noront anticipates delivering an updated mineral resource in second half of 2010.
Noront Resources Ltd. 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
NORONT Resources Ltd.