Toronto, Ontario November 1, 2007 Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to provide the following update of activity, including significant assay results of recent diamond drilling completed on the Company’s Windfall Lake Project, situated in Urban Township, Quebec.
Four drill holes completed in the north-east portion of the Noront property near old drill hole NOT-06-100 (1327.9 g/t (metallic assays) over 4.8 meters) recently intersected significant intervals of gold mineralization as detailed in the table below:
|Drill Hole||Line (W)||STN (N)||AZ||DIP||Interval||Length||Gold|
True widths of these intersections are not known at this time.
These holes are situated in the area within 100 m of NOT-06-100. They tested to about 100 m below surface with the objective of linking surface showings and existing shallow drill intersections.
The intersections in holes 134, 143 and 144 lie generally on strike with the NOT-06-100 zone. Hole 143 in particular underlines the potential dimensions of high-grade mineralization.
Hole 150 lies ~70 m perpendicular to strike testing below a surface showing in an area where relatively little drilling has been completed. The interval from 33.29 to 38.40 m was not submitted for analysis. This interval is now being sampled and will be submitted for analysis.
Past work by Tracy Armstrong, P.Geo., has suggested that gold mineralization lies within a series of narrow, parallel zones that trend ENE and dip steeply northwards. Second order structures were interpreted to occur with an influence on the gold mineralization; however the orientation of these structures could not be positively identified with the previous amount of drilling. The current results broadly confirm this interpretation, however, variations in grades and widths suggesting that the significance of the other, possibly, second order structural controls may be significant.
Year to date two surface diamond drills have been utilized on the Company’s 100% owned property and on the contiguous property optioned from Murgor Resources Inc. (MUG-V) and Freewest Resources Canada Inc. (FWR-V) since May 2007. Sixty-one diamond drill holes, including three lost in overburden, have been completed on the combined properties, for a total of 14,000 m.
Assay samples are taken from (NQ) drill core sawed in half with one half, packaged and delivered to the Bourlamaque Assay Laboratory located in Val d’ Or, Quebec for analysis. The remaining half core is stored in a secure location for future reference or further testing. The initial gold assay method comprises a 30-gram fire assay charge with an atomic-absorption finish for which the upper detection limit of this method is 10 ppm. Samples reporting >2 g/t gold are re-assayed in duplicate using aliquots of the original pulp and of an additional split of the coarse rejects. The re-assay method comprises a 30g fire assay charge followed by a gravimetric finish.
Noront designates samples in batches of 20. Each batch includes a certified standard, blanks (currently silica gel) and duplicates that are inserted at random at a rate of about one of each per batch. Duplicate samples are prepared by quartering a sample interval and submitting the quarters under separate tag numbers. The assay laboratory also reports its interval standards, and blanks and duplicates. The Bourlamaque Assay Lab holds a certificate of laboratory proficiency for the analysis of gold issued under the Proficiency Testing Program for Mineral Analysis Laboratories which is administered by CANMET.
Gold assays are reported to the company in parts per million (ppm) and reported publicly by the company in grams per tonne (1 ppm = 1 gram per tonne). Conversion to ounces per ton (oz/ton) on the attached Table employs a factor of 34.28 grams per tonne equalling 1 troy ounce per short ton and core width of significant zones is also given in feet (1.0 meter = 3.28 feet).
One of the qualified persons responsible for overseeing and reviewing the technical data on the Windfall Lake project is Patrick Chance P.Eng. The technical information prepared for disclosure in this Noront news release has been approved by Mr. Chance.
The current diamond drill program utilizing two diamond drills is being completed in an orderly fashion as determined by the Company’s geological team including Tracy Armstrong, P.Geo., (a qualified geologist in the Province of Quebec) of P & E Mining Consultants.
Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 115,485,982 shares issued to date.
Investors are invited to visit the Noront Resources IR Hub at www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
For further information, please contact Richard Nemis at 416-864-1456, or visit the Company’s website www.norontresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
President and Chief Executive Officer