Noront Resources Ltd. (“Noront”) (TSX Venture:NOT) is pleased to
provide an update on the copper-zinc focused exploration program at
its 85% owned McFaulds property in the Ring of Fire.
In March the company completed a 3-hole 1,134m
drill program on its McFaulds VMS property following up on the
recent success of the McFaulds No.8 VMS discovery last fall. The
program which includes drill holes MCF-18-90, 91 and 92 was
designed to test the up-dip continuity of McFaulds No.8 as well as
test a recently identified high-priority borehole EM anomaly
located 500m to the northeast along the same VMS trend.
Hole MCF-18-92, a 70m step-out from the
previously drilled MCF-17-89, targeting a borehole anomaly up dip
on McFaulds No.8, intersected the main horizon at 447.9m depth
downhole, returning 6.7m grading 1.3%
copper, 5.9% zinc, 10.3 g/t silver and 0.5 g/t gold (Table
1, figure 1). This intersection represents a significant increase
in zinc grades from the previous two intersections which
collectively suggest a metal zonation pattern of increasing zinc
content up-dip and increasing copper content down-dip. Borehole EM
surveying of this hole indicates increased conductance off-hole and
further up-dip. The three holes to date at McFaulds No.8 have
defined a steeply plunging sulfide lens continuous for 135m in dip
and roughly 75m in strike and open in virtually all directions.
In addition to the continued expansion of
McFaulds No.8, hole MCF-18-92 intersected a new VMS exhalative
horizon, herein referred to as McFaulds No.10, located 50m in the
hanging wall to McFaulds No.8. This new zone consists of two thin
(15-20 cm) bands of massive sphalerite intersected at 401.0m which
returned 0.5m grading 25.7% zinc. Importantly,
this new horizon is contained within a thick sequence of intense
chlorite alteration which continues well into the footwall of the
zinc-rich exhalative and which contains 29m of anomalous zinc and
silver mineralization (Table 1, figure 1). The silver values in
this footwall alteration zone, including 6.0m grading
35.1g/t from 422.0-428.0m, represent some of the highest
values seen on the McFaulds property and, coupled with the intense
geochemical alteration and widespread zinc mineralization suggest
this hole is on the edge of another large VMS system not previously
identified in historic drilling. The stacked nature of VMS
mineralization in this area with the McFaulds No.3, No.10 and No.8
horizons in such close proximity suggest this region of the
property is likely underlain by a syn-volcanic structure which are
prime targets for large VMS hydrothermal systems.
Holes MCF-18-90 and 91 targeted a 4,100 siemens
off-hole conductor identified in a historic hole located roughly
500m northeast of McFaulds No.8 (figure 2). MCF-18-90 intersected
stringer sulfides within an 8m wide zone of intense chlorite
alteration. Drilling 40m up-dip in MCF-18-91 encountered a 1.8m
wide zone of massive sulfide overlain by intense chlorite
alteration. Both holes intersected wide zones of low-grade
copper-zinc mineralization beginning at 200m below surface within a
new VMS horizon herein referred to as McFaulds No.9 (Table 1).
Further drilling at McFaulds No.9 will continue to utilize borehole
geophysics to target higher grade mineralization.
Table 1Drill Hole Summary
Results |
Drill Hole |
Zone |
From (m) |
To (m) |
Width (m) |
Cu (%) |
Zn (%) |
Ag (g/t) |
Au (g/t) |
MCF-18-90 |
MCF No.9 horizon |
267.6 |
276.0 |
8.4 |
0.2 |
0.1 |
2.0 |
nsv |
MCF-18-91 |
MCF No.9 horizon |
253.0 |
259.0 |
6.0 |
0.3 |
0.5 |
3.1 |
0.1 |
Including |
256.6 |
259.0 |
2.4 |
0.3 |
1.2 |
3.2 |
0.1 |
MCF-18-92 |
MCF No. 10 horizon |
401.0 |
401.5 |
0.5 |
nsv |
25.7 |
3.0 |
- |
MCF No.10 footwall zone |
410.0 |
439.0 |
29.0 |
nsv |
0.3 |
9.6 |
- |
Including Ag-rich core |
422.0 |
428.0 |
6.0 |
nsv |
0.2 |
35.1 |
- |
MCF No.8 Main Zone |
447.9 |
454.6 |
6.7 |
1.3 |
5.9 |
10.3 |
0.5 |
“With only our second drill program at McFaulds
we’ve identified three new VMS horizons, two of which, McFaulds
No.8 and No.10, have the potential to represent important new
discoveries in this camp. We believe that the McFaulds region has
the potential to be a significant copper-zinc district hosting
several VMS deposits. The recent drill results only serve to
reinforce this view,” said Noront Vice President, Exploration Ryan
Weston.
In conjunction with the recent winter drill
program, Noront completed three ground EM surveys totalling 23
line-km over the McFaulds No.4, No.3-south and No.6 areas (figure
2). The purpose of the surveys was to test for deep (>200m
depth) sulfide mineralization along trend and in the footwall to
known VMS mineralization. A significant new conductor was
identified in the McFaulds No.4 grid measuring 125m wide x 300m
deep with a conductance of 1,200 siemens which has never been drill
tested. A shallower weak (220 siemens) conductor measuring 100m x
100m was identified in the footwall to the McFaulds No.6 VMS
occurrence. Prioritization of these and other targets on the
property is ongoing.
Noront plans to execute a summer field program
on the McFaulds VMS property to follow up on these exciting new
results which will include drilling, ground and airborne
geophysics. Planning for this program is currently underway.
Photos accompanying this announcement are
available at
http://resource.globenewswire.com/Resource/Download/fdb71bbf-cf00-4da3-83d8-da6f5d00113f
http://resource.globenewswire.com/Resource/Download/3a84fbe8-d115-41f0-beda-f66fb4bb5ccc
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.
About Noront Resources
Noront 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, Noront Vice President, Exploration
M.Sc., MBA, P.Geo 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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