Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture:
NOT) today updated the metallurgical information for its Eagle’s
Nest Mine Project and provided results from its 2020 drilling
program.
Metallurgical testing conducted by Expert
Process Solutions (XPS), a GLENCORE company, demonstrated very good
overall metallurgical performance of the Eagle’s Nest ore with
strong indications of the production of high-quality marketable
copper and nickel concentrates, low in magnesium oxide (MgO) at
high metal recoveries. Locked cycle tests on a representative
sample produced a bulk concentrate followed by separate nickel and
copper concentrates with results shown in Table 1.
Table 1:
Summary results of bulk
and separate Ni and
Cu concentrates
Stream |
Mass (g) |
Mass (%) |
Assay (%) |
Assay (ppm) |
Cu |
Ni |
Co |
Fe |
S |
MgO |
SiO2 |
Ag |
Au |
Pd |
Pt |
Bulk
concentrate |
1,185 |
100.0 |
5.5 |
9.9 |
0.285 |
39.5 |
31.1 |
4.2 |
5.5 |
11.0 |
0.64 |
17.8 |
4.0 |
Cu
concentrate |
201 |
16.9 |
28.7 |
1.5 |
0.045 |
30.5 |
32.0 |
2.6 |
3.3 |
36.8 |
3.03 |
24.8 |
5.6 |
Ni
concentrate |
984 |
83.1 |
0.8 |
11.6 |
0.334 |
41.3 |
31.0 |
4.5 |
5.9 |
5.7 |
0.15 |
16.3 |
3.7 |
To see an image of Table 1: Summary results of
bulk and separate Ni and Cu concentrates, please visit the
following
link: https://www.globenewswire.com/NewsRoom/AttachmentNg/2d63007a-7566-4e6c-8ac8-5fb19c1032bc
XPS modeling indicated further enhancement of
the separate concentrates is possible, including reduction of
nickel content in the copper concentrate. Noront plans to conduct
continuous pilot plant testing work on recently drilled core
samples to confirm this modeling.
“These are important results as they enable us
to pursue multiple marketing options for our concentrates,” said
Noront President and CEO Alan Coutts. “Not only can Noront sell
high quality products to traditional Canadian and international
refining companies, but we can also provide dedicated nickel
concentrates to the emerging battery metals sector.”
2020 Metallurgical DrillingIn
early 2020 Noront executed a metallurgical drilling campaign to
collect additional sample material from the Eagle’s Nest deposit
for future variability testing. Four holes totalling 642m were
drilled, including two holes into the upper domain and two wedge
holes into the lower domain. The upper domain holes were
continuously assayed to better inform the resource model. The lower
domain holes were only sporadically assayed to preserve sufficient
material for future metallurgical testing. Table 2 summarizes assay
results of the upper domain holes and showcases the incredible
metal tenor of the Eagle's Nest sulfide ores. A composite photo of
the massive sulfide intersection in NOT-20-001 is shown in Figure
1.
Table 2: Assay highlights from the
2020 upper domain metallurgical drilling
at Eagle’s Nest
Hole |
From (m) |
To (m) |
Width (m) |
Ni (%) |
Cu (%) |
Co (%) |
Pt (ppm) |
Pd (ppm) |
Au (ppm) |
Ag (ppm) |
Mineralization Style |
NOT-20-001 |
44.00 |
143.35 |
99.35 |
4.06 |
1.91 |
0.09 |
0.99 |
5.67 |
0.22 |
5.22 |
|
Including |
44.00 |
57.50 |
13.50 |
0.56 |
0.45 |
0.02 |
0.64 |
1.83 |
0.18 |
2.53 |
disseminated sulfide |
Including |
57.50 |
107.3 |
49.80 |
2.01 |
0.82 |
0.05 |
1.10 |
3.29 |
0.14 |
3.19 |
net-textured sulfide |
Including |
107.30 |
143.35 |
36.05 |
8.20 |
3.97 |
0.17 |
0.98 |
10.39 |
0.34 |
9.04 |
massive sulfide |
NOT-20-002 |
35.00 |
86.00 |
51.00 |
1.89 |
0.84 |
0.05 |
1.19 |
3.48 |
0.36 |
3.38 |
|
Including |
35.00 |
60.50 |
25.50 |
0.60 |
0.48 |
0.02 |
0.69 |
1.89 |
0.18 |
2.19 |
disseminated sulfide |
Including |
60.5 |
86.00 |
25.50 |
3.18 |
1.21 |
0.08 |
1.70 |
5.07 |
0.54 |
4.57 |
net-textured sulfide |
To see an image of Table 2: Assay highlights
from the 2020 upper domain metallurgical drilling at Eagle’s Nest,
please visit the following
link: https://www.globenewswire.com/NewsRoom/AttachmentNg/b4354eb5-a277-4655-8365-a3b9cc7f12ea
Ring of Fire Nickel
ProspectivityThe grade of known nickel-copper-PGE sulfides
in the Ring of Fire is comparable to some of the richest nickel
deposits in the world. The high tenor nature of magmatic sulfides
at Eagle's Nest coupled with the proven conditions for formation of
a sizeable nickel deposit presents a compelling case for continued
nickel exploration in the region.
In 2019, the Company completed a nickel
targeting exercise which identified over 70 early stage nickel
targets in the Ring of Fire. The Victory target, staked in early
2020 was a product of this work. A recently completed VTEM-plus
survey over the Victory property identified several mid-time EM
conductors associated with magnetic targets of possible ultramafic
source. Noront is examining follow-up ground EM surveys to better
resolve these targets ahead of drilling.
In addition, a thorough, independent review of
the extensive geophysical database will be commissioned to identify
previously overlooked or undertested priority EM anomalies with
nickel potential. It is worth noting that the Company’s geophysical
database in the Ring of Fire consists of over 130 airborne EM
surveys, over 250 ground EM surveys as well as numerous other
surveys of different types (e.g., gravity, IP). Most of these
surveys were completed by previous operators in the early days of
Ring of Fire exploration prior to our current understanding of the
geology in the region. A re-evaluation of this extensive dataset is
timely and may yield a significant number of quality untested
targets.
XPS Metallurgical Test Work
DetailEagle’s Nest is a high-grade
nickel-copper-PGE deposit, located in the emerging mining region
known as the Ring of Fire in Northwestern Ontario. Noront filed an
NI 43-101 compliant technical report for this project in 2012,
applying mineralogical and metallurgical test work by SGS
Lakefield.
The 2020 mineralogical and metallurgical work
was commissioned to verify that marketable, separate nickel and
copper concentrates could be prepared with representative sulfide
samples from the deposit. Open-circuit tests were used to define
and tune the processes to produce a bulk concentrate, consistent
with previous SGS work and to split it into two concentrates via a
separation process. Locked-cycle tests were run to examine the
final process performance, based on a sample prepared by XPS. Since
bench tests do not fully yield the results that can be attained in
a full-scale plant with columns and re-circulating loads, XPS
developed simulation software to estimate the expected final
products to be produced at the full-scale plant.
XPS used material and composite samples that had
been stored in SGS Lakefield’s freezer for the initial work. The
condition of this material was verified by replicating the SGS
process using the same historic blend ratios of net-textured to
massive sulfide used by SGS to produce bulk concentrates with
similar properties as the SGS work. XPS then used material from the
composites to prepare a new representative composite blend of 83:17
(net-textured to massive sulfide) to test the revised process
steps.
Test work with open circuits on the 83:17 blend
was done to refine the flow sheet and produce an improved bulk
concentrate process. XPS then moved on to locked-cycle tests with
the new 83:17 composite to produce a bulk concentrate and then
separate nickel and copper concentrates. The bulk concentrate
circuit produced stable results and yielded recoveries of 91.8% Cu,
83.1% Ni, 81.8% Co, 72.6% Ag, 86.1% Au, 85.0% Pd and 76.8% Pt into
a bulk concentrate with 5.1% Cu, 9.7% Ni and 31.1% S (Table 3).
Importantly, the magnesium level of the bulk concentrate was 4.3%
MgO.
Table
3: Results of 83:17
composite blend bulk circuit test work
Stream |
Mass (g) |
Mass (%) |
Assay (%) |
Assay (ppm) |
Cu |
Ni |
Co |
Fe |
S |
MgO |
SiO2 |
Ag |
Au |
Pd |
Pt |
Rougher Feed |
5,905 |
100.0 |
1.3 |
2.8 |
0.08 |
23.3 |
13.2 |
21.6 |
25.1 |
3.5 |
0.2 |
4.8 |
1.3 |
Total Tails |
4,475 |
75.8 |
0.1 |
0.6 |
0.02 |
18.1 |
7.4 |
27.1 |
31.3 |
1.3 |
0.0 |
0.9 |
0.4 |
Total Bulk Conc. |
1,430 |
24.2 |
5.1 |
9.7 |
0.28 |
39.6 |
31.1 |
4.3 |
5.6 |
10.5 |
0.7 |
16.7 |
4.2 |
Stream |
Mass (g) |
Mass (%) |
Distribution (%) |
Distribution (%) |
Cu |
Ni |
Co |
Fe |
S |
MgO |
SiO2 |
Ag |
Au |
Pd |
Pt |
Rougher Feed |
5,905 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
Total Tails |
4,475 |
75.8 |
8.2 |
16.9 |
18.2 |
58.9 |
42.8 |
95.2 |
94.6 |
27.4 |
13.9 |
15.0 |
23.2 |
Total Bulk
Conc. |
1,430 |
24.2 |
91.8 |
83.1 |
81.8 |
41.1 |
57.2 |
4.8 |
5.4 |
72.6 |
86.1 |
85.0 |
76.8 |
To see an image of Table 3: Results of 83:17
composite blend bulk circuit test work, please visit the following
link: https://www.globenewswire.com/NewsRoom/AttachmentNg/ecae2c1c-d6d7-4db8-82bf-d8354df11d97
Test results of the copper-nickel separation are
shown in Table 4. They indicate substantial copper-nickel
separation is achievable. The observed level of nickel in the
copper concentrate exceeds the assumed commercial target, however
this is a common feature of most copper-nickel separation
bench-scale testing. To overcome this, XPS developed a proprietary
modelling program to predict metallurgical performance at the plant
scale based on bench scale test work. Table 5 summarizes the
modelled copper-nickel separation results for the Eagle’s Nest
83:17 composite blend and indicates nickel values below 1% in the
copper concentrate, a key objective for marketable copper
concentrates worldwide.
Table
4: Results of
copper-nickel separation
(Formal Balance)
Stream |
Mass (g) |
Mass (%) |
Assay (%) |
Assay (ppm) |
Cu |
Ni |
Co |
Fe |
S |
MgO |
SiO2 |
Ag |
Au |
Pd |
Pt |
Bulk
concentrate |
1,185 |
100.0 |
5.5 |
9.9 |
0.285 |
39.5 |
31.1 |
4.2 |
5.5 |
11.0 |
0.64 |
17.8 |
4.0 |
Cu
concentrate |
201 |
16.9 |
28.7 |
1.5 |
0.045 |
30.5 |
32.0 |
2.6 |
3.3 |
36.8 |
3.03 |
24.8 |
5.6 |
Ni
concentrate |
984 |
83.1 |
0.8 |
11.6 |
0.334 |
41.3 |
31.0 |
4.5 |
5.9 |
5.7 |
0.15 |
16.3 |
3.7 |
Stream |
Mass (g) |
Mass (%) |
Distribution (%) |
Distribution (%) |
Cu |
Ni |
Co |
Fe |
S |
MgO |
SiO2 |
Ag |
Au |
Pd |
Pt |
Bulk
concentrate |
1,185 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
Cu
concentrate |
201 |
16.9 |
88.2 |
2.5 |
2.7 |
13.1 |
17.4 |
10.5 |
10.2 |
56.7 |
80.0 |
23.7 |
23.5 |
Ni
concentrate |
984 |
83.1 |
11.8 |
97.5 |
97.3 |
86.9 |
82.6 |
89.5 |
89.8 |
43.3 |
20.0 |
76.3 |
76.5 |
To see an image of Table 4: Results of
copper-nickel separation (Formal Balance), please visit the
following
link: https://www.globenewswire.com/NewsRoom/AttachmentNg/e0b5b3b2-5b4b-4f74-afa8-ab96e8106fec
Table 5:
Results of
copper-nickel separation
(XPS Modelled)
Stream |
Mass (%) |
Assay (%) |
Assay (ppm) |
Cu |
Ni |
Co |
Fe |
S |
MgO |
SiO2 |
Ag |
Au |
Pd |
Pt |
Bulk concentrate |
100.0 |
% |
5.1 |
9.7 |
0.28 |
39.6 |
31.1 |
4.3 |
5.6 |
10.5 |
0.7 |
16.7 |
4.2 |
Cu concentrate |
14.1 |
% |
29.9 |
0.5 |
0.02 |
22.1 |
33.9 |
0.9 |
1.1 |
32.6 |
3.4 |
18.6 |
4.5 |
Ni concentrate |
85.9 |
% |
1.0 |
11.2 |
0.32 |
42.5 |
30.7 |
4.8 |
6.2 |
6.9 |
0.2 |
16.4 |
4.1 |
Stream |
Mass (%) |
Distribution (%) |
Distribution (%) |
Cu |
Ni |
Co |
Fe |
S |
MgO |
SiO2 |
Ag |
Au |
Pd |
Pt |
Bulk concentrate |
100.0 |
% |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
Cu concentrate |
14.1 |
% |
83.1 |
0.7 |
0.8 |
7.8 |
15.3 |
2.8 |
2.8 |
43.4 |
71.6 |
15.7 |
15.1 |
Ni concentrate |
85.9 |
% |
16.9 |
99.3 |
99.2 |
92.2 |
84.7 |
95.8 |
95.2 |
56.6 |
28.4 |
84.3 |
84.9 |
To see an image of Table 5: Results of
copper-nickel separation (XPS Modelled), please visit the following
link: https://www.globenewswire.com/NewsRoom/AttachmentNg/ad13c4d9-cf04-4bd2-a224-2934de86b817
Tables 4 and 5 clearly show that the majority of
the recovered nickel reports to the nickel concentrate (99.3%) and
the majority of the recovered copper reports to the copper
concentrate (83.1%) indicating successful copper-nickel separation
from the bulk concentrate. The test work also indicates the
majority (84%) of platinum and palladium report to the nickel
concentrate.
In summary, the XPS test work demonstrates that
Eagle’s Nest ore is amenable to separate copper-nickel concentrates
which show early indications of being a high-quality product with
good overall recoveries and concentrate specifications. To confirm
these results for a plant scale, Noront is planning to perform
continuous pilot plant testing work with XPS using core samples
collected from the 2020 metallurgical drilling program.
Figure 1: Massive sulfide intersection in
NOT-20-001 from 107.30-143.35m depth (HQ core) is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ba11843-4d7b-4bab-93e3-a8d6cd992647
Quality Assurance and Quality Control
(QA/QC) ProgramNoront maintains a strict QA/QC protocol
for all its drilling programs. Core logging and sampling is
performed onsite 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 ResourcesNoront Resources Ltd. is
focused on the 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, M.Sc., MBA, P.Geo, Vice-President,
Exploration, 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
as it relates to the drilling results contained in this press
release.
Mark Baker, B.Sc.Eng., M.Sc.Eng., P.Eng.,
Vice-President, Projects, 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
as it relates to the metallurgical testing results 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:Technical
ContactRyan Westonryan.weston@norontresources.com(807) 285 4808 x
1
Media ContactJanice Mandel janice.mandel@stringcom.com(647)
300-3853
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING INFORMATIONThis 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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