TORONTO, September 15 /PRNewswire/ -- Noront Resources Ltd. ("Noront" or the"Company") (TSX Venture: NOT) is pleased to report newly obtained assay results of completed drill holes from the Company's Eagle's Nest deposit at the McFauld's Lake Property located within the Ring of Fire mineral district. The Eagle's Nest deposit currently includes the original Eagle 1 deposit now known as the Eagle 1Aas well as the 1B and 1C lenses recently discovered beneath Eagle 1A.
Nine holes with complete results are being reported herein, including six holes with significant assay results, two holes with no significant assay results and one hole abandoned before reaching the target area due to excessive deviation.
HIGHLIGHTS: - Hole No.NOT-09-53W1 intersected 54.7metres (873.3-928m) averaging 2.31% Ni, 1.91% Cu, 1.43gpt Pt and 5.77gpt Pd - Hole No.NOT-09-56 intersected 68.6 metres (526.4-595m) averaging 1.99% Ni, 0.94% Cu, 1.05gpt Pt and 3.57gpt Pd - Hole No.NOT-09-57 intersected 50.81 metres (545.2-596.m) averaging 1.94% Ni, 1.05% Cu, 1.38gpt Pt and 3.38gpt Pd
Four of the six holes (NOT-09-55, 56, 57, 58) that returned significant results from the Eagle's Nest tested the Eagle 1B lens and two (NOT-09-53, 53W1) tested the Eagle 1C lens, both located vertically under the near surface Eagle 1A lens as described in Noront's previous press release dated August 5, 2009.
The following table summarizes the results from holes NOT-09-51 through NOT-09-58.
Hole NOT-09-50 was not drilled in the Eagle's Nest conduit but tested another conduit 200 meters to the south-east of hole NOT-09-49 with no significant results. This hole was planned and executed as a platform for borehole electromagnetic surveys (BHEM).
Noront's President and CEO, Wes Hanson, states: "The Eagles Nest continues to return grades that are consistent with those estimated for the Eagle 1A resource, confirming the potential to increase our nickel, copper and platinum group element resources through additional drilling of the 1B and 1C lenses. Our exploration focus will continue to be directed towards this goal for the immediate future. We have also initiated a detailed review of the significant geophysical data collected at McFauld's Lake with the objective of prioritizing future targets for 2010 and beyond."
The following table summarizes the results of the nine holes disclosed herein:
------------------------------------------------------------------------- MINERAL- FROM TO INT. IZATION NI CU Pt Pd Au Ag HOLE ID (m) (m) (m) TYPE % % g/t g/t g/t g/t ------------------------------------------------------------------------- NOT-09-51 NO SIGNIFICANT RESULTS ------------------------------------------------------------------------- NOT-09-52 NO SIGNIFICANT RESULTS ------------------------------------------------------------------------- Eagle 1C ------------------------------------------------------------------------- Net NOT-09-53 854 880.4 26.4 Textured 1.29 0.39 0.72 2.91 0.07 1.76 ------------------------------------------------------------------------- Net Textured NOT-09-53W1 873.3 928 54.7 /Massive 2.31 1.91 1.43 5.77 0.24 6.37 ------------------------------------------------------------------------- Including 917.9 926 8.1 Massive 5.04 2.83 1.14 8.60 0.05 8.26 ------------------------------------------------------------------------- NOT-09-54 ABANDONED BEFORE ZONE ------------------------------------------------------------------------- Eagle 1B ------------------------------------------------------------------------- Net NOT-09-55 501.5 507.3 5.8 Textured 1.26 0.42 0.51 1.91 0.11 1.43 ------------------------------------------------------------------------- Net Textured NOT-09-56 526.4 595 68.6 /Massive 1.99 0.94 1.05 3.57 0.12 2.90 ------------------------------------------------------------------------- Including 526.7 532 5.3 Massive 4.77 1.95 0.84 6.75 0.11 4.34 ------------------------------------------------------------------------- Net Textured NOT-09-57 545.2 596.0 50.8 /Massive 1.94 1.05 1.38 3.38 0.15 3.13 ------------------------------------------------------------------------- Net NOT-09-58 431.9 441.3 9.4 Textured 1.30 0.52 1.07 1.90 0.06 1.30 -------------------------------------------------------------------------
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/18/Cc 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/19/$w showing the pierce points and traces of the mineralized intersections through the Eagle 1B and 1C lenses.
Jeremy Niemi, Noront's Vice President Geology notes; "While drilling conditions have been challenging, especially considering the depth of the Eagle 1B and 1C lenses, the exploration team is adapting to the conditions and continuing to expand our understanding of these two new lenses. Each hole sheds new light on our deposits and with the recent addition of a fourth, more powerful drill and full time directional drilling controls, this will benefit the exploration effort at Eagle's Nest going forward."
Exploration Update:
-------------------
At present, four drills are currently active, testing the dimensions of the Eagle's Nest lenses in all directions with the intent of increasing the nickel-copper and PGM resources. Three of the drills are testing the mineralized areas down to a vertical depth of 1,000 meters and a fourth drill recently added, is capable of reaching 1,500 meters vertically. Additional drills capable of testing in excess of 1,500 meters will be added during the winter drill program.
Directional drilling equipment is now onsite to ensure the drilling targets are encountered with minimal drill hole deviation and to permit wedging or fanning from "master holes" at depths where new holes from surface would be less efficient and more time consuming.
All drill holes are currently evaluated using Bore Hole geophysics (BHEM) to assist in the interpretation of the nickel-copper-PGE mineralization and to assist in targeting future drill holes. Since hole NOT-09-49, all drill holes targeting the Eagle's Nest have been angle holes planned to cross the vertically dipping mineralization along east-west cross sections parallel to east-west coordinate lines of the Universal Transverse Mercator (UTM) grid system. A surveyed (GPS Gradient) grid of east-west lines with UTM coordinates has been established on the surface to facilitate accurate orientation of the drill hole collars. Results from additional drilling will be released as complete results from new holes become available.
Corporate Update:
-----------------
Noront Resources would like to inform shareholders that effective September 15, 2009, John Harvey will be leaving the Company. Mr. Harvey's contributions to Noront will be forever be associated with the Company's current and future success in the Ring of Fire. On behalf of all management and employees of Noront Resources, we wish John all the best in the future.
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. 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 at Eagle 1B and 1C.
About Noront:
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 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 http://www.norontresources.com or at SEDAR at http://www.sedar.com
Wesley (Wes) Hanson
Chief Executive Officer
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although Noront has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Joanne Jobin, Vice President Corporate Communications at +1-416-367-1444 ext 126, or visit Noront's website at: http://www.norontresources.com/
Noront Resources Ltd.
For further information: Joanne Jobin, Vice President Corporate Communications at +1-416-367-1444 ext 126
