TORONTO, Dec. 8 /PRNewswire-FirstCall/ -- Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to report that check assays of hole 09-070-W1 at the Company's Eagle's Nest deposit, at the McFaulds Lake Property, confirm the impressive platinum and palladium grades originally reported on November 19, 2009. More interestingly, the high grade platinum and palladium grades triggered internal quality controls which included assaying samples with both platinum and palladium results exceeding 10.0 gpt for rhodium. Preliminary rhodium results indicate grades in excess of 2.0 grams per tonne associated with the higher-grade platinum and palladium samples. In light of the preliminary results which strongly suggest the presence of additional platinum group elements, specifically, rhodium, iridium, osmium, ruthenium and rhenium; Noront has instructed Activation Laboratories Ltd. ("Actlabs") to immediately begin the process of assaying the entire 22.8 metre interval for additional platinum group elements.
HIGHLIGHTS: ----------- - Hole # NOT-09-070-W1 original assaying intersected 22.8 metres averaging 28.1 gpt Pt and 8.0 gpt Pd - Including 8.4 metres averaging 1.2% Ni, 1.5% Cu, 68.8 gpt Pt and 7.6 gpt Pd - Hole # NOT-09-070-W1 check assaying intersected 22.8 metres averaging 26.0 gpt Pt and 7.6 gpt Pd - Note a sample within the interval (619.3-620m) had insufficient material to accurately rerun, considering this the intervals above and below this sample are as follows - (607.6 - 619.3m) original Pt was 50.3gpt and rerun Pt 50.0gpt, original Pd 9.0gpt rerun Pd 9.0gpt - (620-630.4m) original Pt was 2.6gpt and rerun Pt 3.9gpt, original Pd 6.7gpt and rerun 6.4gpt - Sample 432113 measuring 0.5m returned a rhodium grade of 2.19 gpt with 312.0 gpt platinum and 11.5 gpt palladium - Sample 432116 measuring 0.15m returned a rhodium grade of 3.13 gpt with 943 gpt platinum and 11.3 gpt palladium
Rhodium is a relatively rare and valuable platinum group element (pge) found in platinum ores and is commonly used to harden platinum and palladium. It is found in the nickel-copper-pge deposits of the Sudbury basin and at this stage the abundance in the Eagle's Nest is not completely understood due to insufficient sampling. However, the Company plans to undertake a comprehensive sampling campaign and study to evaluate the significance of the rhodium and other platinum group elements throughout the entire Eagle's Nest deposit.
The first step in developing an understanding of the significance of the platinum group elements at Eagle's Nest will be a complete resampling of the entire mineralized interval in hole NOT-09-070-W1 for the additional platinum group elements including rhodium, iridium, osmium, ruthenium and rhenium. The Company anticipates this analysis to be completed in the coming weeks and results will be reported when available.
Drilling results continue to expand the size of the Eagle's Nest deposit and have definitively filled in all remaining gaps along the vertical length defining the mineralization to depth to below 1,000 metres. Hole NOT-09-068-W1 was targeted to fill in the gap between the B and C lenses at Eagle's Nest. In addition hole NOT-09-070-W1 intersected very significant massive mineralization including the highest platinum grades encountered to date at Eagle's Nest. The massive sulphide zone is taking shape and is close to being defined along the down dip length of the deposit.
Noront's President and CEO, Wes Hanson, states: "The discovery of rhodium within our Eagle's Nest deposit continues to demonstrate the robust and unique nature of the Ring of Fire and the mineral deposits within it. Rhodium is primarily recovered as an accessory mineral in a number of the world's major nickel sulphide deposits. Our analysis to date suggests our rhodium grades are within the upper quartile worldwide albeit, over a very limited area. More importantly, this discovery resulted from our rigid quality control, quality assurance program. Our check assaying confirmed the very high-grade platinum and palladium results from hole 09-070-W1 as expected. That our procedures also turned up the presence of high grade rhodium is an additional benefit."
For further information on the McFaulds Lake Property, 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 http://www.sedar.com/
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.
About Noront:
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 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.
Noront Resources Ltd.
CONTACT: Joanne Jobin, Vice President Corporate Communications at (416)
367-1444 ext 126, or visit Noront's website at:
http://www.norontresources.com/
