TORONTO, ONTARIO - (May 27, 2008) - Noront
Resources Ltd. ("Noront") (TSX VENTURE: NOT) wishes to
present the following progress report regarding chrome on its exploration
activities in the McFaulds Lake area of northern Ontario in the James Bay
Lowlands. This press release should be read in conjunction with the press
release issued earlier today concerning Noront's exploration results
pertaining in particular to sulphides.. The anomaly drill testing program
on the Double Eagle Project continues with two machines testing visible
copper-nickel sulphide as well as chromite mineralization. The chrome
mineralization is found proximal and related to the shear hosted sulphides
("SHS") mineralization at anomaly AT2 also referred to as Eagle
Two, initially located by geophysical surveying. Assay results are being
received by the Company from both SGS Mineral Services ("SGS") in
Toronto, and Activation Laboratories ("Actlabs") in Ancaster,
Ontario.. These results are complying with the Company's strict QA/QC
program supervised for Noront by P&E Mining Consultants of Brampton, Ontario.
The Company's geologists report the following highlights with respect to
chrome from their recent results emanating from its diamond drilling
programs;
HIGHLIGHTS
- Massive chromitite conformably underlies the shear hosted sulphides at
Eagle Two (Anomaly AT2) by approximately 30 - 50 meters. This zone
extending along a length of 150 meters and to a vertical depth of 400
meters has returned core widths of almost 70 meters.
- Assays for hole NOT-08-1G17 includes 49.4 meters averaging 39.1% Cr2O3
(27.4% Cr) including anomalous nickel and palladium. Assays from other
holes are pending.
EAGLE TWO (AT2 Anomaly)
To date, 23 holes totaling 7,412.9 meters have now been completed at Eagle
Two to assess the SHS occurrence discovered by Noront earlier this year
(see press release dated February 25, 2008). Drilling continues on this
anomaly with two drills. The eight holes with assays reported herein and
those completed since the last press release on April 2, 2008 have
continued to extend the mineralization containing visible copper-nickel
sulphides as well as chromitite beds to vertical depths of 350 meters and
400 meters respectively. Both zones (SHS and chromitite) occupy positions
conformable with and near the stratigraphic bottom of a wide Peridotite
Sill (that defines part of the Ring of Fire) which in turn unconformably
overlies a Granodiorite older basement rock. Assays are pending for many of
the new holes.
CHROME POTENTIAL AT EAGLE TWO
Of similar importance being encountered in the Eagle Two delineation
drilling program is the intersection of wide intervals of massive chromite
mineralization conformably lying within close distance (average 30 - 50
meters below the shear hosted sulphides but at a stratigraphic position
above the SHS and within the overturned Peridotite Sill (that partially
defines the Ring of Fire). To date, (including up to hole NOT-08-1G31)
Chromitite has been intersected from UTM section 5841950 north to 5842100
north over a strike length of 150 meters. It has been traced by drilling
from near surface to over 400 meters vertically below surface with core
widths varying up to 69.2 meters. Additional varying widths of intermittent
chromitite beds occur adjacent to and on both sides of the massive
chromitite. Assays pertaining to chrome content are pending.
Dr James Mungall, (Associate Professor at the University of Toronto),
consulting geologist to Noront in the McFaulds Lake area, recently visited
the project area and reports the following from his observations of drill
core at Eagle Two and his resulting laboratory determinations at the
University of Toronto.
"Chromitite seams have been intersected in several diamond drill holes
into the AT2 target area southwest of the Eagle One magmatic massive
sulphide deposit. The chromitite seams occur as steeply dipping stratiform
layers with down dip extent of at least 500 metres and strike length of at
least 150 metres. The chromitites vary from narrow seams, centimetres thick
to massive beds of chromite orthocumulate greater than 20 metres in true
thickness. Massive chromitite at AT2 consists of 60 to 90% euhedral
chromite grains up to 1 mm in size surrounded by a matrix of talc,
chlorite, serpentine, and stichtite, a hydrated magnesium chromium
carbonate mineral. The host rock is metadunite and metaperidotite that has
been altered to talc and carbonate and is relatively undeformed close to
the chromitites. Preliminary petrographic work indicates that the chromite
is generally fresh and unaltered. Wavelength dispersive electron microprobe
analysis of 90 individual chromite grains in samples from holes NOT-08-1G3
(134 m) and NOT-08-1G20 (247 m) show that the compositions of the chromite
grains show little variability around an average value of 51.9 weight
percent Cr2O3 (standard deviation of 0.98 weight percent), equivalent to
35.5 weight percent Cr, with Cr/Fe weight ratios between 1.6 and 1.8 and
averaging 1.72. Further petrographic and electron microprobe work is
underway to establish the consistency of these grades throughout the
deposit. Whole-rock assay data is pending for all of the chromitite
intersected to date."
Assaying for chrome involves several steps. All samples from the project
undergo multi-element analysis by either of the two labs currently working
on the project. At SGS, the samples undergo ICP40B multi-element analysis
that utilizes 4 acid total digestion prior to the analysis; the result for
all 40 elements is provided in parts per million. Similarly at Actlabs, the
samples initially undergo four acid total digestion followed by ICP
analysis (TD-ICP); the end result is provided in parts per million. (For
details on this initial assay methodology, please visit the websites for
the two labs www.SGS.com or www.actlabs.com). For those samples where
assays are greater than 10,000 parts per million for chrome (elemental Cr),
the sample undergoes additional analysis to determine the higher
concentration levels. Noront has selected Actlabs to provide the higher
grade analysis, where the sample undergoes further analysis using INAA
methodology that provides a more accurate total chrome content addressing
the chrome content that is bound to the silicates in the rock. The chrome
content is typically provided as the compound Cr2O3 as well as the element
Cr. The following table provides the initial assay data for one of the
massive chromite layers as seen in hole NOT-08-1G17, This is the first hole
that complete assays for chrome have been received, providing the total
chrome and Cr2O3 content over a 49.4 meter interval. The rest of the assays
for chromite on additional holes are pending.
This assayed sample interval is not considered to be a true width as the
attitude of the chromite beds have not been fully determined.
Management believes that the recent drill hole results, with the presence
of visible copper - nickel sulphide and chromite mineralization being
observed by the geologists on site is very encouraging, and could be of
significant importance for Noront, if the assays pending are favourable.
Notwithstanding the foregoing, visual observations are estimates only and
pending assay results may not confirm visual observations in whole or in
part.
The following table presents the visual details of the holes recently
drilled where Chromitite beds were intersected in close proximity to the
sulphide mineralization at Eagle Two:
SUMMARY OF RECENT DRILLING EAGLE TWO (chromite intersections only; not true
width. For sulphide intervals, refer to earlier press release dated April
2, 2008 as well as press release issued earlier today (May 27, 2008)
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 the Project
geologists for the drill program onsite. Billiken Management Services Inc..
is providing all services on site for the Noront Double Eagle Project.,
Billiken is a holder of Certificate of Authorization issued by the
Association of Professional Geoscientists of Ontario. All samples from the
early part of the 2008 exploration program were submitted to SGS Mineral
Services in Toronto, Ontario. Samples were selected in the field under the supervision of
the site geologist, then were cut by diamond saw. One half of the sample is
retained for record at the base camp, the other half of the sample was
placed in a plastic bag and individually sealed. The sealed bags are then
placed in durable rice bags in batches of 5 and a numbered security tag
seals each rice bag. The rice bags are placed in plastic pails and batches
of 40 samples were sent by bonded courier to SGS Mineral Services in
Toronto, Ontario or Actlabs in Ancaster, Ontario.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program was implemented for the Double Eagle
project which included grouping samples into batches of 35 into which was
added 2 certified reference material standards, 2 field blanks comprised of
sterile drill core, and a field duplicate. It can be said with confidence
that all assays as reported in this Press Release have passed the strict
quality control guidelines as set out by an Independent Qualified Person
("IQP").
Drilling results in this press release have been reviewed of Noront's
senior management including Neil Novak P.Geo., a director and Vice
President-Exploration and John Harvey P.Eng., Executive Vice President of
Noront, being Qualified Persons under Canadian Securities guidelines.
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".
Noront is a tier 2 junior resource company on the TSX Venture Exchange,
trading symbol NOT, with 129,493,883 shares issued to date.
Investors are invited to visit Noront's IR Hub at http://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.
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.
For more information, please contact
Noront Resources Ltd.
Richard Nemis
President and Chief Executive Officer
(416) 864-1456
(416) 367-5444 (FAX)
Email: info@norontresources.com
Website: http://www.norontresources.com