TORONTO, ONTARIO September 27 , 2007 Noront Resources Ltd. (“Noront”)(TSX Venture: NOT) is pleased to announce final assay results from the fifth hole of the diamond drilling program on its’ optioned claims where Noront is earning a 100 % interest, subject to royalties, on the Company’s Double Eagle project located in James Bay Lowlands, northeastern Ontario. (See press release dated May 27, 2007 for details of this option agreement.)
- Hole NOT-07-05 final assay results include; 68.3 meters averaging 5.9% nickel, 3.1% copper, 2.87 g/t platinum, 9.78 g/t palladium, 0.61 g/t gold and 8.5 g/t silver;
- 3 meter section of hole averaged 8.7% nickel, 10.9% copper, 40.79 g/t platinum, 14.57 g/t palladium, 9.39 g/t gold and 8.7 g/t silver
- Hole NOT-07-07 that undercut hole NOT-07-05 intersected the sulphide zone at 73 meters core length and remained in sulphide bearing peridotite until 124 core length, and was terminated at 149 meters;
- Drilling continues to explore new discovery, Hole NOT-07-08 designed to undercut hole 7 underway;
- Detailed ground geophysical program continues;
- Acquisition of additional claims surrounding the discovery area continues around the “Ring of Fire”.
Hole NOT-04-05, observed to be the most significant hole to date, was positioned 50 meters to the northeast of Holes NOT-07-01 and 02 (assays previously reported see press release dated September 25, 2007) and was drilled vertically at the peak of a magnetic anomaly to ascertain the magnetic body’s more precise location. Nickel and copper bearing sulphides were encountered in a peridotite between 7 meters and 47.4 meters. Between 47.4 and 112.6 meters, massive chalcopyrite, pyrrhotite and pentlandite was observed, a short section between 112.6 and 115.6 meters downhole received exceptionally high values for contained metal. This section is described as a brecciated zone consisting of peridotite within massive sulphides. The high grade section was followed by peridotite with interstitial chalcopyrite, pyrrhotite and pentlandite to the end of the sulphide zone at 127.4 meters. The hole then entered granodiorite until the end of the hole at 143.4 meters. Assay results from this hole are summarized in the following table:
|Hole||from (m)||to (m)||int. (m)||Cu (%)||Ni (%)||Pt (g/t)||Pd (g/t)||Au (g/t)||Ag (g/t)|
Hole NOT-07-07 has recently been completed. This hole is positioned at the same collar location as holes NOT-07-01 and 02 (a few meters away to allow for drill setup), however the azimuth was set at due east, to undercut Hole NOT-07-05 from the west. The initial dip of this hole was set at -45 degrees. The hole entered the peridotite bearing sulphide unit at 73 meters core length and remained in sulphides until 124 meter core length for a drill intercept for 51 meters. Chalcopyrite, pentlandite and pyrrhotite enriched sections have been reported in this drill hole. The latter sulphide intersection is believed to approximate true width.
The aforementioned assay and sample information, as well as geological descriptions are taken from drill logs as prepared by site geologists for the drill program, Dr. Howard Lahti, P.Geo., of Fredericton, New Brunswick and Mike Kilbourne. Billiken Management Services Inc. is providing all services on site for the Noront Double Eagle Project, from their base camp at McFaulds Lake.
All samples herein were selected, and sealed and readied for shipment to ALS Chemex laboratory in Thunder Bay Ontario, they were assigned a “RUSH ASSAY” request. All samples reported upon herein were selected by either Dr. Howard Lahti, P.Geo. or Mike Kilbourne (geologist), and were cut in half by diamond core saw. Individual samples were labeled, placed and sealed in plastic sample bags. Groups of samples were then placed into durable rice bags that were secured by project security tags and then placed into plastic pails for shipping. Plastic pails were delivered via bonded carrier to ALS Chemex’s sample preparation laboratory in Thunder Bay, Ontario. All samples were then crushed and pulverized, then sample pulps were sent to ALS Chemex Laboratory in Vancouver B.C. for analysis, remaining coarse reject portion of the samples remain in storage at the ALS Chemex storage facility in Thunder Bay. In Vancouver, the samples underwent multi-element analysis using ALS Chemex assay procedure ME-MS61, and PGM MS24 for Au, Pt, and Pd. When samples received over-limit values they underwent further analysis using ALS Chemex assay procedure Cu-OG62 (for copper) and Ni-OG62 (for nickel), and PGM – ICP27 (for gold, platinum and palladium). The reader is referred to: www.alschemex.com for details of analytical procedures.
In light of this exciting Nickel – Copper and PGE discovery, with high economical potential, Noront continues with an aggressive exploration and staking campaign and have dubbed the area the “Ring of Fire”. Noront has requested a second drill for the project to speed up the drilling program. It is Noront’s understanding that this drill will be arriving within a week or so, being supplied by Cabo Drilling. In addition, Noront is planning to drill through the freeze-up period with the two drills.