Toronto, Ontario, July 29, 2009. Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) is pleased to announce results from two additional drill holes at the newly discovered Thunderbird vanadium occurrence where significant concentrations of vanadium, titanium, and iron were reported in Noront’s April 30, 2009 Press Release http://www.norontresources.com/News/Release/143. The Thunderbird anomaly is located in the McFaulds Lake area of the James Bay lowlands within the Ring of Fire mineral district.
- Drilling extends vanadium and titanium mineralization over a 900 metre strike length;
- Drilling confirms significant width component;
- Hole 2G24 intersected 164.9 metres of 0.36% V2O5 including 45.9 meters 0.51% V2O5 and 113.7 metres of 0.33% V2O5 including 20.9m of 0.47% V2O5;
- Hole 2G25 intersected 241.4 metres of 0.37% V2O5 which included 59.8 metres averaging 0.54% V2O5;
Mr. Wes Hanson President and CEO of Noront, states that “The extensive vanadium mineralization at Thunderbird is further evidence of the robust potential of the Ring of Fire. Thunderbird is the third intriguing target discovered on our claims in the Ring of Fire. Recent developments at the Eagle One and the pending resource estimate for the Blackbird chromite deposits will continue to be our primary focus for the foreseeable future.”
Geology of the Occurrence:
The Thunderbird anomaly was identified by ground magnetometer and gravity surveys completed during the fall and winter 0f 2009. This data, combined with existing airborne electromagnetic and magnetometer surveys (VTEM), identified the Thunderbird anomaly which was targeted for follow up drilling.
Three holes were completed on the Thunderbird anomaly. Hole NOT-09-2G21, reported April 30, 2009 http://www.norontresources.com/News/Release/143 was drilled through the centre of the interpreted anomaly at an inclination of -50º and intersected two distinct zones of mineralization.
The following table presents the results for hole NOT09-2G24, collared 300 metres to the north of hole 2G21 and NOT09-2G25, collared 600 metres to the south. Both holes were drilled using the same collar orientation and dip as hole NOT09-2G21.
Select assay results for Holes NOT-09-2G24 and NOT-09-2G25 are shown in Table 1.
|Hole||From (m)||To (m)||Interval (m)||V2O3 (%)||TiO2 (%)||FE3O4 (%)|
|Then (B Zone)||319.91||433.56||113.65||0.33||2.65||23.2|
|NOT-09-2G25 (Single Zone)||75.8||317.21||241.41||0.37||3.07||25.85|
Notes: Drill intercepts are not true width intercepts; all measurements are in metres. Fe is reported as Fe3O4 to serve as an approximate estimate of the modal abundance of magnetite in the whole rock. Actual magnetite modes are somewhat lower because some Fe is also contained in ilmenite and silicate minerals. To calculate Fe as Fe3O4, one multiplies the concentration stated as Fe2O3 by a factor of 0.9666.
Please follow the link to Noront’s website for locations of the Thunderbird holes. http://norontresources.com/find/id/14/7b
The three holes drilled in the Thunderbird magnetic and gravity anomaly suggest a mineralized strike length of over 900 metres and overall widths between 165 and 242 metres. The assay results suggest that the vanadium mineralization in this zone may be economically significant. The results to date suggest that there is every reason to believe that similar mineralization extends to the limits of this 1.6 km linear magnetic trend. Numerous other linear highly magnetic anomalies exist within Noront’s claims in the Thunderbird area.
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.
This press release has been reviewed and approved for dissemination by Noront’s senior management including Director of Exploration Jim Atkinson M.Sc., P.Geo., and Chief Operating Officer John Harvey P.Eng., all being Qualified Persons under Canadian Securities guidelines.
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 drill plan for 2009.
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”