Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to
provide an update on the summer exploration program at its 85%
owned McFaulds volcanogenic massive sulphide (VMS) property in the
Ring of Fire.
The 6-hole 3,033 metre copper-zinc focused
program was completed in August and includes the drilling of holes
MCF-18-93 through MCF-18-98, supplemented with surface and borehole
electromagnetic (EM) surveys performed by Crone Geophysics.
Hole MCF-18-98 intersected 26.4 metres
of massive sulfide grading 2.1% copper, 3.4% zinc, 5.5 grams per
tonne silver and 0.2 grams per tonne gold from 707.3 metres
downhole.
Drilled 155 metres down-dip of discovery hole
MCF-17-88, the estimated true width of this intersection is 20
metres (See Figure 1). Copper mineralization occurs throughout but
is richest towards the base of the massive sulfides (2.0 metres of
8.9% copper and 11.4% zinc) and is immediately underlain by
high-grade zinc mineralization (3.5 metres of 14.2% zinc). A narrow
zone of intense footwall chlorite alteration also underlies the
mineralization suggesting the hole may yet be on the edge of the
VMS hydrothermal system.
Bore-hole EM surveying identified a significant
in-hole conductor which continues for several hundred meters below
the current intersection (See Figure 2). A 20,000 siemens
conductive plate 100 metres wide by 626 metres long was modelled
from all bore-hole survey data to date.
“MCF-18-98 is our most aggressive step-out drill
hole to date and represents the thickest and highest-grade
intersection of sulfide mineralization at McFaulds No.8,” says
Noront Vice-President Exploration, Ryan Weston. “These results,
along with incredibly strong bore-hole response vectoring further
down-dip has us very excited about testing the continuity of this
high-grade zone at depth.”
“The new intersection in MCF-18-98 elevates the
potential for McFaulds No.8 to be a significant copper-zinc deposit
in the Ring of Fire. It also further validates our exploration
approach over the past two years which involved looking beyond the
depths of traditional airborne EM systems in our search for quality
deposits to add to Noront’s project pipeline,” says Chief
Development Officer Stephen Flewelling.
Hole MCF-18-96 drilled 45 metres
down-dip from discovery hole MCF-17-88 intersected 11.5 metres of
massive sulfides including 8.5 metres of 1.9% copper, 2.0% zinc,
6.2 grams per tonne silver and 0.3 grams per tonne gold, indicating
excellent continuity of geology and grade at McFaulds
No.8.
In addition to the significant results of
MCF-18-96 and MCF-18-98, the drilling program also tested
continuity of the McFaulds No. 10 zinc-rich horizon discovered
during the 2017-18 winter drill program. Both MCF-18-93 and
MCF-18-94 intersected 1-2 metre-wide horizons of high-grade zinc
mineralization within a broader zone of low-grade zinc-silver
mineralization with strong chlorite alteration. These holes were
drilled 60 metres along strike and 65 metres up dip, respectively,
of MCF-18-92. The continuity of alteration and broad zinc-silver
mineralization is encouraging and indicates that the most
productive portion of this new zone may be located further to the
northeast.
Results of the summer drilling program are
summarized in Table 1 below.
Table 1 McFaulds VMS Drill
Hole Summary Results |
Drill Hole |
Zone |
From (m) |
To (m) |
Width (m) |
Cu (%) |
Zn (%) |
Ag (g/t) |
Au (g/t) |
MCF-18-93 |
MCF No.10 |
349.0 |
362.4 |
13.4 |
- |
2.1 |
6.6 |
- |
including |
350.5 |
351.5 |
1.0 |
0.1 |
21.2 |
17.8 |
- |
MCF-18-94 |
MCF No.10 |
387.0 |
409.0 |
22.0 |
- |
1.6 |
8.1 |
- |
including |
394.5 |
396.5 |
2.0 |
0.1 |
7.9 |
10.5 |
- |
MCF-18-95 |
MCF No.8 |
388.1 |
391.1 |
3.0 |
0.2 |
5.3 |
1.7 |
- |
MCF-18-96 |
MCF No.8 |
614.0 |
622.5 |
8.5 |
1.9 |
2.0 |
6.2 |
0.3 |
incl. Zn-rich base |
618.8 |
622.5 |
3.7 |
2.5 |
4.4 |
7.5 |
0.3 |
MCF-17-97 |
(hole terminated at 186 m due to excessive lift) |
MCF-17-98 |
MCF No.8 deposit |
707.3 |
733.8 |
26.4 |
2.1 |
3.4 |
5.5 |
0.2 |
incl. Cu-rich main zone |
711.0 |
727.7 |
16.7 |
3.1 |
1.8 |
7.3 |
0.3 |
incl. high-grade Cu base |
725.7 |
727.7 |
2.0 |
8.9 |
11.4 |
19.8 |
0.5 |
incl. Zn-rich main zone |
724.7 |
733.8 |
9.0 |
2.5 |
9.7 |
6.7 |
0.2 |
incl. high-grade Zn base |
730.3 |
733.8 |
3.5 |
0.6 |
14.2 |
3.5 |
0.1 |
In conjunction with the summer drill program,
Noront completed three ground EM surveys over the McFaulds No.8,
No.10 and No.9 areas totalling 29 line-kilometres. The purpose was
to test for deep sulfide mineralization (more than 200 metres in
depth) along strike of known mineralization at depth. No new
conductors were identified and, the exploration team is evaluating
alternate geophysical methods to test below 300 metres deep, given
the continued success of the McFaulds deep drilling program.
Follow-up work is currently being planned.
Quality Assurance and Quality Control
(QA/QC) Program
Noront maintains a strict QA/QC protocol for all
its drilling programs. Core logging and sampling is performed
on-site under the supervision of geologists licensed by the
Association of Professional Geoscientists of Ontario (APGO).
Reference standards, field blanks, and duplicates are inserted into
the sample stream at regular intervals. Once cut, drill core
samples are labelled and sealed in individual bags then grouped
into batches for shipping to Thunder Bay via Nakina under chain of
custody documentation.
Samples are submitted to Activation Laboratories
(Actlabs), an ISO-17025 certified laboratory in Thunder Bay, for
sample preparation and multi-element analysis. This includes
fire-assay for precious metals and total-digestion ICP-OES for base
metals (exclusive of chromium which is analysed by XRF). Samples
exceeding analytical upper limits are automatically run for
over-limit analysis. Analytical results are sent electronically by
Actlabs to a database manager at Noront whereupon the company’s
internal standards, duplicates and blanks are reviewed for
accuracy, precision and the presence of possible contamination.
QA/QC results for each batch are reviewed by a Noront Qualified
Professional prior to accepting and importing new assays into the
database. All assays reported in this press release passed the
Noront QA/QC program.
Two figures accompanying this announcement are
available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/4406fa82-e2c4-4ca8-9603-8f7c8f485ee4
http://www.globenewswire.com/NewsRoom/AttachmentNg/869b95d3-9291-4b60-a0f7-86ddb889adfb
About Noront ResourcesNoront
Resources Ltd. is focused on development of its high-grade Eagle’s
Nest nickel, copper, platinum and palladium deposit and the world
class chromite deposits including Blackbird, Black Thor, and Big
Daddy, all of which are located in the James Bay Lowlands of
Ontario in an emerging metals camp known as the Ring of Fire.
www.norontresources.com
Ryan Weston P.Geo., Noront Vice President
Exploration and a Qualified Person as defined by National
Instrument 43-101 Standards of Disclosure for Mineral Projects
(“NI-43-101”) has reviewed and approved the technical information
contained in this press release.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For more information please contact:Janice
Mandel janice.mandel@stringcom.com (647) 300-3853
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING INFORMATION
This press release includes certain
“forward-looking information” within the meaning of applicable
Canadian securities legislation
Forward-looking information is based on
reasonable assumptions that have been made by Noront as at the date
of such information and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Noront to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: the
impact of general business and economic conditions; that all
conditions precedent to the transactions will be met; risks related
to government and environmental regulation, actual results of
current exploration activities, conclusions of economic evaluations
(including those contained in the Feasibility Study) and changes in
project parameters as plans continue to be refined; problems
inherent to the marketability of base and precious metals; industry
conditions, including fluctuations in the price of base and
precious metals, fluctuations in interest rates; government
entities interpreting existing tax legislation or enacting new tax
legislation in a way which adversely affects Noront; stock market
volatility; competition; risk factors disclosed in Noront’s most
recent Management’s Discussion and Analysis and Annual Information
Form, available electronically on SEDAR; and such other factors
described or referred to elsewhere herein, including unanticipated
and/or unusual events. Many such factors are beyond Noront’s
ability to control or predict.
Although Noront has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that forward-looking information will prove to be accurate as
actual results and future events could differ materially from those
reliant on forward-looking information.
All of the forward-looking information given in
this press release is qualified by these cautionary statements and
readers are cautioned not to put undue reliance on forward-looking
information due to its inherent uncertainty. Noront disclaims any
intent or obligation to update any forward-looking information,
whether as a result of new information, future events or results or
otherwise, except as required by law. This forward-looking
information should not be relied upon as representing the Company’s
views as of any date subsequent to the date of this press
release.
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