TORONTO, ONTARIO--(Nov. 6,
2007) - Noront Resources Ltd. ("Noront")(TSX VENTURE: NOT) is pleased to announce further progress of the
diamond drilling and geophysical program, as well as recently received
assay results on its' Eagle One occurrence within Noront's Double Eagle
Project in the McFaulds Lake Area of northeastern Ontario.
HIGHLIGHTS
- Hole NOT-07-11 encountered two massive sulphide zones separated by weakly
mineralized peridotite; first massive sulphide zone between 58.5 and 60.1
meters (1.6 meters averaged 4.82% Cu., 7.11% Ni., 2.53 g/t Pt., 14.65 g/t
Pd., 0.19 g/t Au., and 14 g/t Ag.) followed by a second massive sulphide
section between 74.5 and 75.8 meters (1.3 meters averaging 4.43% Cu., 7.37%
Ni., 1.08g/t Pt.., 18.1g/t Pd., 0.22g/t Au and 13 g/t Ag).
- Hole NOT-07-12 intersected mineralized peridotite between 81.5 meters and
176 meters including a massive sulphide zone between 82.5 and 92 meters
downhole. This 9.5 meter section averaged 1.54% Cu., 6.99% Ni., 2.61 g/t
Pt., 10.07g/t Pd., 0.15g/t Au and 5.21g/t Ag. Then from 92 to 113 meters a semi-massive section of sulphides was
encountered consisting of pyrrhotite, pentlandite and chalcopyrite,
followed by net textured nickel and copper sulphide mineralization to 176
meters.
- The near vertical dipping mineralized Nickel - Copper - PGM Eagle One
occurrence averaging 40 to 45 meters in horizontal width is still open
along strike, lies conformably near the western edge of a larger peridotite
intrusive that has widened to 85 meters in horizontal width at its
presently drilled south extent. Drilling continues with two machines,
continuing through the freeze-up period.
- Detailed ground geophysical programs continue, preliminary reports are
being reviewed, airborne AeroTEM-2 survey is well underway by Aeroquest
International Limited, overseen by Scott Hogg and Associates and to date
they have flown 2,084 kilometers. Staking by Noront and its partners
continues around the "Ring of Fire".
Noront has completed 3,263 meters of diamond drilling in 19 diamond drill
holes (including current holes that are underway) on the Eagle One Ni-Cu-PGE
occurrence since starting the drill program in late August. The following
table summarizes drill hole locations (based upon local and UTM grid
coordinates) and provides details of the drilling completed thus far.
The Universal Transverse Mercator (UTM) coordinate system is a grid based
method of specifying locations on the surface of the Earth. It is
universally recognized but differs from the traditional method of latitude
and longitude in several respects (taken from Google).
Click here to view table
Please note that the local grid collar locations are measured from the NW -
SE oriented un-surveyed picket lines, whereas the UTM (Universal Transverse
Mercator) co-ordinates are the GPS surveyed collar locations. The latter
should be used when plotting drill holes as this co-ordinate system
provides ease in relating the drilling to the geophysical and other
surveys. An up to date drill collar location plan of the area will be added
to the Noront website http://www.norontresources.com shortly, showing locations of all assay data
available to date.
Click here to view new drill hole data
Please note that the drill intercepts mentioned herein are not true widths,
any reference to true width at this time in the exploration of the Eagle
One MMS occurrence would be misleading. The mineralized body is irregular
in shape, based upon the drilling to date and is best described below under
description of mineralized body.
Hole NOT-07-10 was drilled to test for massive sulphides below NOT-07-09
(assay results previously announced October 30, 2007). This hole did not
intersect any massive sulphides; it is assumed that the hole went below the
main massive sulphide zone, however the hole went through 14.8 meters of
peridotite containing minor sulphide between 84.2 and 99.0 meters downhole,
that averaged 0.12% Cu., 0.25% Ni., 0.16 g/t Pd., 0.64g/t Pd., 0.09g/t Au. The
hole was terminated in granodiorite at 119 meters.
Hole NOT-07-11 was drilled to test for massive sulphides below NOT-07-09
and above hole NOT-07-10. This hole encountered the mineralized peridotite
between 57.4 and 80.0 meters downhole, that contained two sections of well
mineralized massive sulphides between 58.5 and 60.1 meters (1.6 meters
averaged 4.82% Cu., 7.11% Ni., 2.53 g/t Pt., 14.65 g/t Pd., 0.19 g/t Au.,
and 14 g/t Ag.) followed by another massive sulphide section between 74.5
and 75.8 meters (1.3 meters averaging 4.43% Cu., 7.37% Ni., 1.08g/t Pt..,
18.1g/t Pd., 0.22g/t Au and 13 g/t Ag) with mineralized peridotite in-between.
The hole was terminated in granodiorite at 113.8 meters.
Hole NOT-07-12 was drilled as a 40 meter southerly step-out from the
mineralized zone where intersected in NOT-07-01 and NOT-07-02 along an
east-west oriented drill section. This hole intersected the well
mineralized peridotite between 81.5 meters and 176 meters (including
massive sulphides) for a total mineralized intercept of 94.5 meters that
averaged 0.62% Cu., 1.38% Ni., 0..74g/t Pt., 2.63g/t Pd., 0.12g/t Au and
1.88 g/t Ag. Within this section massive sulphides were encountered between
82.5 and 92 meters downhole, this 9.5 meter section averaged 1.54% Cu.,
6.99% Ni., 2.61 g/t Pt., 10.07g/t Pd., 0.15g/t Au and 5.21g/t Ag. From 92
to 113 meters a semi-massive section of sulphides was encountered
consisting of pyrrhotite, pentlandite and chalcopyrite, followed by net
textured nickel and copper sulphide mineralization to 176 meters, after
which very lean sulphide bearing altered peridotite host rock was
encountered to 220.6 meters down hole. The hole was terminated at 239
meters in granodiorite.
New Hole Summaries (assays outstanding)
NOT-07-15 with a collar location of 50+15E, 11+20N in local grid
co-ordinates and an initial dip of -60 degrees with a 102 degrees azimuth
has been completed by the second drill. This hole remained in weakly
mineralized to barren peridotite for its entire length of 132 meters
(except for the first 8 meters of overburden and limestone).
NOT-07-17 is positioned at the same collar location as hole NOT-07-16 with
an initial dip of -60 degrees to undercut the mineralization encountered in
the upper hole. This hole intersected well mineralized peridotite at 98
meters and at 138 meters encountered net textured sulphides which continued
to 171 meters.. Between 171 and 177.5 massive sulphide mineralization was
encountered, followed by altered peridotite to a depth of 178. The hole
then entered granodiorite and was stopped at 191 meters total depth.
NOT-07-18 is also positioned at the same collar location as hole NOT-07-17
and NOT-07-16 undercutting the mineralization encountered in the two upper
holes. The initial dip of this hole was set at -69 degrees. Between 105.2
meters and 132.5 meters the hole entered well mineralized peridotite, then
it entered into a long section of net textured peridotite between 132.5 to
210m. From 210 to 230m massive sulphides were intersected before the hole
encountered granodiorite.
Hole NOT-07-19 was drilled at local grid collar location 50+83E at 10+50N
with an initial azimuth of 270 degrees and an initial dip of -45 degrees. Peridotite
was intersected at 20.1 meters downhole, variably mineralized between 46.5
and 64.5 meters. This hole then entered weakly mineralized peridotite,
between 64.5 meters and 74.2 meters downhole, then from 94.5 to 103.3 the
mineralization increased getting more pervasive until around 108.9 meters
downhole, intersecting a few mafic and felsic dikes. Between 108.9 and
109.3 massive sulphide was intersected, followed by altered peridotite
until 110.8 when granodiorite and another mafic dike was encountered to the
end of the hole at 132 meters.
Significance of Recent Drill Holes
Previously announced drill hole nos. 12, 13, 14 and 16 were completed on
the formerly most southerly drill section orientated East-West along UTM
line 5843562.5 meters North. Drill hole nos. 17 and 18 were completed on
the same section below hole no. 16 with the deepest hole no.. 18
intersecting the occurrence at a new vertical depth of 220 meters. Drill
hole nos. 15 and 19, 37.5 meter step-outs south along UTM east-west section
line 5843525.0 meters North, intersected mineralized periodotite at shallow
elevations. Drill holes are currently underway to test both the latter
sections further beneath the above holes. Thus far the Eagle One occurrence
has been encountered along a strike length of 170 meters with a consistent
width of 40-45 meters within a widening, southerly expanding peridotite
ultrabasic intrusive.
Expanded program
Two drills are currently working through the freeze up period on the Eagle
One occurrence. The last fixed wing flight serviced the camp on November 2.
The camp is now being serviced by two helicopters in addition to a third
helicopter that is being used in the geophysical survey. A series of fuel
flights have resulted in a stockpiling of fuel and other consumables,
sufficient for camp use for at least one month. Service flights are now
limited to one flight per week to the nearby First Nation community of
Webequie.
The new drill camp construction is nearing completion and is within walking
distance to the Eagle One MMS occurrence. This will minimize the downtime
due to weather and the helicopter not being able to service the drill for
shift changes. Preliminary ground geophysical surveys are starting to be
compiled and are currently being reviewed, focused on the Eagle One
occurrence. The airborne survey contract awarded to Aeroquest International
Limited using their helicopter mounted AeroTEM-2 system is well underway. To
date a total of 2,084 kilometers of flying have been completed, initially
focusing the survey in the vicinity of the Eagle One occurrence proceeding
eastwards around the "Ring of Fire".
On Site Quality Assurance / Quality Control Measures
The aforementioned assay and sample information, as well as geological
descriptions are taken from drill logs as prepared by two site geologists
for the drill program, Dr. Howard Lahti, P.Geo., of Fredericton, New
Brunswick and Mike Kilbourne, geologist from Newmarket, Ontario. Billiken
Management Services Inc. is providing all services on site for the Noront
Double Eagle Project, from their base camp at McFaulds Lake. Billiken is a
holder of Certificate of Authorization issued by the Association of
Professional Geoscientists of Ontario.
All samples reported upon 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 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 as required in the event that
further work is needed. In Vancouver, the samples underwent analysis using
ALS Chemex assay procedure AA46 for nickel, copper and silver, and ICP24
for Au, Pt, and Pd. When samples received over-limit values they underwent
further analysis using ALS Chemex assay procedure ICP27 (for gold, platinum
and palladium), as well as GRA21 for gold. The reader is referred to:
www.alschemex.com for details of these analytical procedures.
Independent Quality Assurance and Quality Control Protocol
Gold, platinum and palladium are assayed using fire assay on a 50 gram
nominal sample weight with an ICP-AES finish. Nickel and copper are assayed
using aqua regia (3-acid) digestion with either ICP-AES or AAS finish. A
comprehensive QA/QC program has been implemented to monitor all assays on
the Double Eagle Project. Samples are assembled in numbered batches of 77
samples, which equates to the number of client samples per furnace batch at
ALS Chemex. Included in each batch of 77 samples are 4 certified reference
material samples, 3 blank samples comprised of sterile drill core, and 4
field duplicate samples.
This QC program was set up for Noront by Tracy Armstrong P.Geo, of P&E
Mining Consultants Inc. ("P&E") of Brampton, Ontario. Ms.
Armstrong is a qualified geologist in the Provinces of Ontario and Quebec.
Assay results are being monitored on an on-going, real time basis for
accuracy, contamination and precision by P&E. The current sample set
will be reviewed by Ms. Armstrong once some additional batches are
completed, and will be reported upon in a timely manner.
This press release includes certain "Forward-Looking Statements"
within the meaning of the US Private Securities Reform Act of 1995. Other
than statements of historical fact, all statements are
"Forward-Looking Statements" that involve such various known and
unknown risks, uncertainties and other factors. There can be no assurance
that such statements will prove accurate. Results and future events could
differ materially from those anticipated in such statements. Readers of
this press release are cautioned not to place undue reliance on these
"Forward-Looking Statements".
This press release has been prepared by management of Noront Resources
Ltd., and has been approved for dissemination by Neil Novak P.Geo., a
director and recently appointed Vice President Exploration of Noront, being
a Qualified Person under Canadian Securities guidelines.
Noront is a tier 2 junior resource company on the TSX Venture Exchange,
trading symbol NOT, with 117,754,482 shares issued to date.
Investors are invited to visit the Noront Resources IR Hub at http://www.agoracom.com/IR/Noront
where they can post questions and receive answers or review questions and
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ON BEHALF OF THE BOARD OF DIRECTORS
R. Nemis, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Noront Resources Ltd.
Richard Nemis
President and Chief Executive Officer
(416) 864-1456
Fax: (416) 367-5444
Email: info@norontresources.com
Website: http://www.norontresources.com