Noront Announces Initial Nickel-PGE Results at Anomaly AT12 Provides Update on Other Double Eagle Drilling Projects
September 15 2008 - 3:18PM
Marketwired Canada
Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the
following update on its exploration activities in the McFaulds Lake area of
northern Ontario in the James Bay Lowlands.
EXPLORATION HIGHLIGHTS
1) The first assay results from Hole NOT-08-2G1 at anomaly AT12 include the
intersection of three zones of nickel mineralization including 0.89% Ni, 0.35%
Cu and 1.36 g/t Pd over 6 meters. Drilling continues on this anomaly.
2) Latest drilling at Eagle Two continued to probe deeper and delineate
copper-nickel mineralization in a shear hosted sulphide setting (Eagle Two SHS
Occurrence) now delineated down to a vertical depth of 400 meters along a strike
length of 150 meters. Hole NOT-08-1G32 encountered 2.86% Ni, 0.56% Cu, and 0.15
g/t Pd over 3.6 meters.
The anomaly drilling program on our Double Eagle Project continues with one
drill testing the chrome potential of Blackbird Two, located approximately 1
kilometre east of Blackbird One (chrome component of AT2 anomaly). A second
drill continues to test anomaly AT12, while the third drill has been moved to
continue the depth and strike extension potential south of the Eagle One
Magmatic Massive Sulphide Deposit. Recall that the AT2 airborne anomaly consists
of copper-nickel sulphide mineralization in a Shear Hosted Sulphide ("SHS")
environment referred to as "Eagle Two", as well as layered chromite
mineralization in a peridotite intrusive geological environment, referred to as
"Blackbird One" so as to distinguish this site from the Eagle Two deposit.
Information on the Blackbird One chrome occurrence as well as other news related
to the chrome potential of the area as encountered at Blackbird Two will be the
subject of a separate release to be issued soon.
A fourth drill has recently been mobilized into the Ring of Fire area and is
currently working on the Seafield Option property located approximately 65
kilometres to the north of the Eagle One Deposit. Seafield Resources Ltd. is
earning in on this property from Noront. Noront is operator during the initial
earn-in period. Other option properties are being readied for initial diamond
drill programs to test airborne identified geophysical anomalies that have been
upgraded to drill targets as a result of ground geophysical surveys and
geological review, all within the geophysically interpreted northerly extension
of the Ring of Fire Intrusive ("ROF").
The current drilling program at Eagle One South is designed to test for
additional resources along strike and to depth towards the south. This program
will also include additional infill drilling as needed for resource upgrading
purposes. As previously announced (see press release dated July 4, 2008) the
Eagle One Deposit currently hosts an indicated resource of 1.83 million tonnes
averaging 1.96% nickel, 1.18% copper, 1.12 g/t Pt, 3.91 g/t Pd, as well as an
inferred resource of 1.09 million tonnes averaging 2.39% nickel, 1.27% copper,
1.37 g/t Pt and 4.5 g/t Pd.
AT12 Anomaly
The AT12 airborne anomaly is located approximately 9.5 kilometers northeast of
the Eagle One Deposit. Drill testing initially focused on the north end of this
long, northeast-southwesterly striking strong coincident magnetic and conductive
target. Eight drill holes have explored this target (the ninth is underway),
however only six were completed due to problems encountered while trying to
penetrate the very thick and unpredictable overburden in this particular area.
The other two holes were lost in overburden. The attached table provides details
of this drilling as well as observed visual mineralization where applicable.
Assays for these listed holes are pending, and these results are based on visual
observations only. Visual observations are estimates only and pending assay
results may not confirm visual observations in whole or in part.
Location of Anomaly AT12 Drill Holes and Visually Observed Mineralization
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Easting Northing Mineralization
Hole ID UTM (m) UTM (m) Azimuth Dip Length (m) (observed)
----------------------------------------------------------------------------
95.85 - 99.58
semi-massive
NOT-08-2G1 553772 5850735 295 -50 240 po, pn, cpy
----------------------------------------------------------------------------
99.58 - 122.84
disseminated
sulphides
--------------------
122.84 - 129.5
intermittent diss
- semi mass po, pn,
cpy
--------------------
139.5 - 169.0
minor sulphides
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147.0 - 213.0
disseminated
NOT-08-2G2 553772 5850735 295 -70 306 sulphides
----------------------------------------------------------------------------
213.0 - 242.2
intermittent diss
- semi mass po, pn,
cpy
----------------------------------------------------------------------------
no significant
NOT-08-2G3 553829 5850592 295 -50 324 mineralization
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no significant
NOT-08-2G4 553829 5850592 295 -70 402 mineralization
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NOT-08-2G5 553930 5850782 295 -65 37.5 no core recovered
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NOT-08-2G5A/B 553930 5850782 295 -65 36 no core recovered
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NOT-08-2G5C 553930 5850782 295 -65 44 no core recovered
----------------------------------------------------------------------------
NOT-08-2G5D 553930 5850782 295 -65 33 no core recovered
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NOT-08-2G6 553632 5850913 115 -50 39 no core recovered
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NOT-08-2G6A 553632 5850913 115 -50 27 no core recovered
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no significant
NOT-08-2G7 553772 5850735 335 -50 297 mineralization
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no significant
NOT-08-2G8 553978 5850640 295 -50 441 mineralization
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NOT-08-2G9 5530990 5850520 295 -45 current
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The widths contained in the above table are not true widths as insufficient
drilling has been completed on this occurrence to determine true widths.
Recently received assays from AT12
Assay results have recently been received for hole NOT-08-1G1. Three separate
zones of nickel mineralization were encountered, along with minor copper as well
as palladium. The following table presents the results received from anomaly
AT12 thus far. This mineralization is hosted by an altered peridotite. One short
section of massive sulfide (0.16 meters) starting at 125.4 metre core length
averaged 6.37% Ni, 3.53% Cu, 0.12g/t Pt and 13.3 g/t Pd. Drilling continues at
this anomaly.
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Hole ID From To Interval Nickel Copper Palladium
----------------------------------------------------------------------------
(m) (m) (m) % % g/t
----------------------------------------------------------------
----------------------------------------------------------------------------
NOT-08-2G1 97.0 105.0 8.0 0.66 0.05 na
----------------------------------------------------------------
121.5 127.5 6.0 0.89 0.35 1.36
----------------------------------------------------------------
136.5 139.5 3.0 0.81 0.34 0.7
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EAGLE TWO Ni-Cu OCCURRENCE
Complete assays from the only two holes at Eagle Two that have been received
since the last press release (July 17, 2008) are described below. The current
drilling has continued to extend the mineralization containing visible
copper-nickel sulphides to a vertical depth of 400 meters. The Eagle Two
occurrence occupies a position conformable with and near the stratigraphic
bottom of a wide Peridotite Sill which in turn unconformably overlies older
Granodiorite basement rock. Assays are pending for the remaining holes. The
interpretation of the new holes at Eagle Two confirms that the SHS zone
continues to dip flatly at 50 to 60 degrees to the west and strikes north-south
within the Peridotite sill or the "ROF".
Summary of Recent Drilling (since last press release, assays pending)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Azi-
muth dip
Northing Easting Northing Easting Len- Observed
Hole ID Local Local UTM UTM deg- deg- gth Mineralization
(m) (m) (m) (m) rees rees (m)
----------------------------------------------------------------------------
NOT-08 No significant
-1G55 1025 3175 5842212 545900 0 -90 648 mineralization
----------------------------------------------------------------------------
NOT-08 156.4 - 161.9
-1G56 1115 3250 5842325 545900 0 -90 867 minor py
----------------------------------------------------------------------------
163.4 - 170.9
minor py
---------------
174.3 - 178.2
minor py
----------------------------------------------------------------------------
NOT-08 189.8 - 202.2
-1G58 750 3245 5842060 546150 0 -90 546 diss po, cp, pn
----------------------------------------------------------------------------
248.5 - 250.7
short mass
chrome beds
----------------------------------------------------------------------------
296.7 - 299.4
short mass
chrome beds
----------------------------------------------------------------------------
330.5 - 371.2
several narrow
mass chrome
beds
----------------------------------------------------------------------------
370.0 - 373.8
NOT-08 veinlets cp,
-1G60 2100 6200 5842100 546200 0 -90 454.5 po, tr.pn.
----------------------------------------------------------------------------
379.0 - 382.3
veinlets cp,
po, pn,
semi-mass.
----------------------------------------------------------------------------
382.3 - 387.3
diss po, cp,
pn
----------------------------------------------------------------------------
NOT-08 441.8 - 442.2
-1G62 2137.5 6250 5842137.5 546250 0 -90 804.6 diss po, cp
----------------------------------------------------------------------------
705.0 - 713.0
diss - semi
mass chrome
---------------
713.8 - 714.3
diss po, cp,
pn
---------------
722.9 - 726.0
diss - semi
mass chrome
---------------
734.0 - 736.0
mass - semi
mass chrome
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Due to the limited number of drill hole and assay results, true widths are not
yet determined for the Eagle Two Deposit. Visual observations are estimates only
and pending assay results may not confirm visual observations in whole or in
part.
Recently received Significant Assay Results (Eagle Two)
Assay results have recently been received for two holes that were drilled to
test for nickel - copper mineralization at the Eagle Two shear hosted sulphide
deposit. These holes continue to confirm the depth and size potential of this
deposit. (Please note that the chrome potential for the Eagle Two Deposit is not
presented here; it will be the subject of a separate release pertaining to
Blackbird One.)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Hole ID From To Interval Nickel Copper Palladium
(m) (m) (m) (%) (%) g/t
---------------------------------------------------------------------------
NOT-08-1G32 289.5 301.5 12.0 1.17 0.38 0.11
---------------------------------------------------------------------------
including 297.0 300.6 3.6 2.86 0.56 0.15
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NOT-08-1G35 382.0 387.0 5.0 1.52 0.23 0.18
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NOT-08-1G36 hole abandoned
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NOT-08-1G37 hole abandoned
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Drilling has concluded at present at Anomaly AT2. One drill continues to test
the nearby Blackbird Two chrome occurrence, while the other drill that was
assigned to this deposit has been moved to the Eagle One south extension. Once
all assays are in, an initial resource estimate for Eagle Two will be initiated.
Other Anomaly Drilling Programs
Ground geophysical surveying is well underway at the Double Eagle project Grid 2
area, as well as other areas. Linecutting, followed by ground geophysics has
commenced for the numerous options to joint venture properties that are operated
by Noront around the Ring of Fire. Since January 2008, Noront staked many
additional claims and continues to acquire additional land by staking and joint
venture. All areas are being surveyed by Geotech Ltd's new deep penetrating
airborne Time-Domain Electromagnetic ("VTEM") system over the next few months.
This new helicopter mounted system has demonstrable and acceptable conductance
discrimination for high conductance targets by using a low frequency (30 Hz),
long on-pulse and derived B-Field. Noront has amassed over 48,600 hectares of
prospective ground and is in joint venture with several other resource companies
on approximately 68,000 hectares. Collectively, Noront holds interest in
approximately 116,800 hectares or 1,166 square kilometers of staked land within
what management believes is the most favorable exploration area. A third drill
has commenced on the Double Eagle Project to test airborne anomalies, all of
which have undergone further ground geophysical surveying including AT-5, AT-6,
AT-7 (all on Grid One) and AT12 (first anomaly on Grid 2) all east and north of
the Eagle One Deposit. Previous drilling to initially test some of these
anomalies has been previously reported (July 17, 2008).
AT3 Anomaly
As reported earlier (May 27, 2008) a total of 2,621 meters were drilled in eight
holes testing airborne anomaly AT3 located 4 kilometers to the southwest of
Eagle One, or two kilometers west of Eagle Two. Whereas at the time of the last
press release dated July 17, 2008 results from holes NOT-08-1G26 were still
pending, these results have recently been received. Only anomalous (0.15 to 0.24
%) nickel values were received from this hole. No further work is currently
planned at this anomaly.
AT4 Anomaly
As reported May 27, 2008, a total of 951 meters in three holes were completed to
test airborne anomaly AT4 and its southwestern extension, located 5.5 kilometers
southwest of Eagle One. Two of these holes encountered volcanogenic massive
sulphide ("VMS") style mineralization in intermediate to felsic volcanic
assemblages and the third hole was lost. The holes returned several large widths
of barren sulphide mineralization in favorable volcanic rocks uncomformably
overlying the ROF intrusive. Assays received from the two holes returned
interesting gold values, highlighted by NOT -1G34 that encountered 11.1 g/t gold
over 1.0 meters. Minor amounts of copper were also encountered by both holes.
Additional review of the existing geophysical data will be undertaken on this
anomaly.
Recently received assay results (AT4)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Hole ID From To Interval Copper Gold Silver
---------------------------------------------------------------------------
(m) (m) (m) (%) g/t g/t
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NOT-08-1G30 394.7 395.4 0.7 0.14 9.0 3.9
---------------------------------------------------------------------------
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NOT-08-1G33 abandoned
---------------------------------------------------------------------------
---------------------------------------------------------------------------
NOT-08-1G34 82.5 83.5 1.0 0.24 11.1 1.4
---------------------------------------------------------------------------
---------------------------------------------------------------------------
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program is in effect for the Double Eagle project
which, has included grouping samples into batches of 35 into each of which were
added 2 certified reference material standards, 2 field blanks comprised of
sterile drill core, and a field duplicate. Coarse reject and pulp duplicates
also form part of each batch. 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 Independent Qualified Person ("IQP") Ms. Tracy Armstrong P.Geo. of
P&E Mining Consultants Inc.
All samples reported upon herein were completed by Activation Labs (Actlabs) of
Ancaster, Ontario. The samples submitted to Actlabs were analyzed using four
acid digestion followed by ICP multi-element analysis. The Cu and Ni samples
that received values greater than the maximum limit using the multi-element
analysis underwent further analysis using ICP-OES. For precious metals the assay
methodology was Fire Assay/ICP. For more information on assay methodology please
visit the Activation Laboratories Ltd. Website at http://www.actlabs.int.com.
Drilling results in this press release have been reviewed in the field and
approved for dissemination by Noront's senior management including John Harvey,
P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's
Chief Geologist, both being Qualified Persons under Canadian Securities
guidelines. 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 updated in real time.
For Further information please visit Noront's website at:
http://www.norontresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS:
R. Nemis, President and Chief Executive Officer
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".
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