Noront Encounters More Nickel at Eagle One, as well as Intriguing Results AT12
Anomaly
TORONTO, Jan. 23 /CNW - AsiaNet/ --
Noront Resources Ltd. ("Noront or the Company") (TSX Venture: NOT) is
pleased to present assay results from its base metal exploration activities in
the McFaulds Lake area of northern Ontario in the James Bay Lowlands.
EXPLORATION HIGHLIGHTS
- Hole NOT-08-44, an extension to Eagle One, averaged 4.21% Nickel,
2.14% Copper, 0.35 g/t Platinum and 6.30 g/t Palladium over 28.8
metres, including 14.1 metres of higher grade averaging 7.46% Nickel
and 3.65% Copper.
- Hole NOT-08-2G11 drilled on the AT12 anomaly encounters widespread
nickel/copper PGE mineralization over 122.9 meters grading 0.56%
Nickel, 0.29% Copper, 1.06 grammes/tonne TPM, including 5.5 metres
averaging 2.38% Nickel, 3.05% Copper, 0.92 g/t Platinum, 2.62 g/t
Palladium and 0.22 g/t Gold.
EAGLE ONE DRILL RESULTS
As previously announced (see press release dated November 10, 2008),
while testing for the north-south striking dike or conduit beneath and around
the Eagle One deposit, drill hole NOT-08-44 encountered massive sulphide
mineralization 70 metres vertically below holes NOT-08-28 and NOT-08-32.
Selected assay intervals include:
TABLE 1: SELECTED ASSAYS FROM EAGLE ONE
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Hole ID from to int Ni% Cu% Pt g/t Pd g/t Au g/t Ag g/t
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NOT-08-44 294.0 322.8 28.8 4.21 2.14 0.35 6.30 0.14 4.31
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including 294.0 301.6 7.6 1.16 0.98 0.73 2.73 0.10 2.65
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followed by 301.6 315.7 14.1 7.46 3.65 0.10 10.33 0.20 6.80
-------------------------------------------------------------------------
followed by 315.7 322.8 7.1 1.03 0.38 0.43 2.12 0.08 1.15
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While hole NOT-08-44 had the best drill intersection (not true width) of
massive sulphide, a further 10 holes drilled in the area returned
mineralization that is considered less significant. Nevertheless, this
drilling has expanded the geological and mineralogical information available
to Noront and has allowed the Company to better target further drilling on
this deposit. Details with respect to locations for these holes are available
on Noront's website at:
AT12 DRILL RESULTS
Noront previously reported visual mineralization in drilling at anomaly
AT12 located approximately 9.5 kilometres northeast of the Eagle One Deposit.
Results of the first two holes that tested AT12 were reported in press
releases dated September 15, 2008 (NOT-08-2G01) and October 6, 2008
(NOT-08-G02). Exploratory drilling continued in the area which has improved
the geological information available for siting drill holes. Drill holes
NOT-08-2G11, 2G12 and 2G14 intersected encouraging mineralization over broad
intervals. Highlights are shown in Table 2.
TABLE 2: SELECTED ASSAYS FROM AT12
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from to int
Hole ID (m) (m) (m) Ni% Cu% Pt g/t Pd g/t Au g/t Ag g/t
-------------------------------------------------------------------------
NOT-08-2G11 90.0 212.9 122.9 0.56 0.29 0.22 0.79 0.05 0.86
-------------------------------------------------------------------------
including 137.9 141.0 3.1 2.56 0.44 0.31 3.12 0.65 4.80
-------------------------------------------------------------------------
including 164.4 169.9 5.5 2.38 3.05 0.92 2.62 0.22 5.54
-------------------------------------------------------------------------
-------------------------------------------------------------------------
NOT-08-2G12 110.4 223.3 122.9 0.35 0.10 0.14 0.46 0.05 0.61
-------------------------------------------------------------------------
including 161.8 162.4 0.6 3.17 0.34 0.26 2.02 0.03 3.77
-------------------------------------------------------------------------
including 207.9 210.0 2.1 1.26 0.42 1.35 1.90 0.18 1.64
-------------------------------------------------------------------------
-------------------------------------------------------------------------
NOT-08-2G14 97.0 171.0 74.1 0.41 0.13 0.17 0.53 0.05 0.47
-------------------------------------------------------------------------
including 97.0 106.7 9.7 1.58 0.26 0.65 1.92 0.19 1.61
-------------------------------------------------------------------------
True widths have not yet been determined for the nickel/copper bearing
zones at the AT12 occurrence.
The drill holes in Table 2, (with the exception of hole 2G13 that had no
significant values) encountered widespread semi-massive sulphide
mineralization including shorter sections of massive sulphide mineralization.
For locations of all holes drilled at AT12 please refer to the drill-hole
location plan superimposed on a total field magnetic map, available at
Noront's website:
Continuity of mineralization is shown in the vertical drill section
pertaining
to holes reported herein, which is also available at Noront's website at:
complete listing of assay intervals and results from Anomaly AT12 please visit
Noront's website at
Additional drill holes have been completed in an area 800 metres to the
south of AT12 anomaly, on Noront's property, along an east-west section
parallel to and near the southern border of Noront's property in close
proximity to the Black Thor chrome property of Freewest Resources Inc. (as
shown on AT12 drill hole location plan referred to above). Selected assay for
holes NOT-08-2G15 and 2G-18 have encountered the following mineralized drill
intervals (not true width):
-------------------------------------------------------------------------
from to int
Hole ID (m) (m) (m) Ni% Cu% Pt g/t Pd g/t Au g/t Ag g/t
-------------------------------------------------------------------------
NOT-08-2G15 90.8 101.2 10.4 0.61 0.19 0.21 0.82 0.13 1.38
-------------------------------------------------------------------------
including 99.0 101.2 2.2 1.61 0.17 0.45 2.58 0.28 3.57
-------------------------------------------------------------------------
then 112.3 130.2 17.9 0.67 0.24 0.14 0.45 0.07 1.87
-------------------------------------------------------------------------
including 120.9 123.4 2.5 1.65 0.39 0.21 0.59 0.07 5.48
-------------------------------------------------------------------------
NOT-2G18 100.7 143.7 43.0 0.27 0.06 0.14 0.39 0.03 0.63
-------------------------------------------------------------------------
followed by 143.7 148.2 4.5 1.41 0.45 0.44 2.38 0.13 4.12
-------------------------------------------------------------------------
In addition to these base and precious metal intersections, there were
nine intersections of low grade chrome including 5.5 metres that averaged
3.973% Cr203 in hole 2G15. Additional results in this area will be reported
upon as they are received.
EAGLE TWO DRILL RESULTS
Additional assays have been received for a further six holes drilled to
test the base metal potential at the Eagle Two shear hosted massive sulphide
occurrence which were not previously reported including holes NOT-08-1G52,
1G55, 1G56, 1G60, and 1G62. Selected assay intervals for the Eagle Two
occurrence include:
-------------------------------------------------------------------------
from to int
HOLE ID (m) (m) (m) Ni% Cu% Pt g/t Pd g/t Au g/t TPM g/t
-------------------------------------------------------------------------
NOT-08-1G52 395.0 405.2 10.2 0.37 0.47 0.01 0.11 0.11 0.23
-------------------------------------------------------------------------
NT-08-1G60 378.9 381.3 2.4 0.53 0.94 0.05 0.15 0.15 0.35
-------------------------------------------------------------------------
These results over the drill intervals (not true width) have continued to
define a low-grade nickel - copper lense which lies in close proximity to the
Blackbird One Chrome deposit. The tenor of mineralization at Eagle Two implies
that the deposit will not likely be a stand-alone nickel sulphide deposit, but
presents an interesting target in conjunction with the proximal chromite. For
a complete listing of assays for these holes, please refer to table of results
for Eagle Two at Noront's website at
2009 BASE METAL EXPLORATION PROGRAM
A third diamond drill, will commence drilling in the vicinity of AT12 and
along the southern boundary of Noront's property in the vicinity of Holes
NOT-08-15 to 08-19 in early February. These holes are designed to continue the
assessment of the local and regional potential of the base metal potential at
AT12 and its immediate environs. Noront is also planning to conduct downhole
geophysics on selected holes to be completed early in the base metal program.
"The results from Eagle One reinforce the high-grade polymetallic
mineralization that is available on our properties in the Ring of Fire,"
remarked Paul Parisotto, Interim Co-CEO of Noront. "Our exploration programs
during the first half of this year will look to expand the known
mineralization at Eagle One. Furthermore, the broad nickel mineralization at
AT-12 is most encouraging given the almost 700 metres of virgin strike extent
that remains to be drilled over the next six months. We are extremely excited
about the AT-12 area as a possible contributor to our nickel resources in the
area."
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the Double
Eagle project which includes grouping samples into batches of 35 into which
are 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 the QC program. Approximately 10% of the samples
are sent to a secondary lab as a monitor on the principal lab. 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 Noront's independent
Qualified Person ("IQP").
All samples reported upon herein were completed by Activation Labs
(Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed
for multi-elements, including Ni and Cu using a four acid digestion followed
by ICP analysis. The samples that received base metal values greater than the
upper limit for the method underwent further analysis using ICP-OES. For the
Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with
an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis.
For final chromium analysis, on the samples where elemental chromium using the
ICPOES multi-element analysis methodology provides greater than 10,000 ppm (1%
Cr), the samples are then submitted for additional analysis using INAA that
involves irradiating the samples prior to final analysis. This methodology
provides analysis in percent for elemental Cr as well as Cr2O3 and elemental
Fe. For more information on assay methodology please visit the Activation
Drilling results in this press release have been approved for
dissemination by Noront's senior management including John Harvey, P.Eng.
Chief Operating Officer of Noront, Dr. Jim Mungall P.Geo., Noront's Chief
Geologist, and Jim Atkinson, P.Geo. all being Qualified Persons under Canadian
Securities guidelines.
Noront is a tier 2 junior resource company on the TSX Venture Exchange,
trading symbol NOT, with 153,778,457 shares issued to date.
ON BEHALF OF THE BOARD OF DIRECTORS:
"Paul A. Parisotto and Joe Hamilton"
Co-Chief Executive Officers
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation, including predictions, projections
and forecasts. Forward-looking statements include, but are not limited to,
statements that address activities, events or developments that the Company
expects or anticipates will or may occur in the future, including such things
as future business strategy, competitive strengths, goals, expansion, growth
of the Company's businesses, operations, plans and with respect to exploration
results, the timing and success of exploration activities generally,
permitting time lines, government regulation of exploration and mining
operations, environmental risks, title disputes or claims, limitations on
insurance coverage, timing and possible outcome of any pending litigation and
timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by
the use of words such as "plans", "planning", "planned", "expects" or "looking
forward", "does not expect", "continues", "scheduled", "estimates",
"forecasts", "intends", "potential", "anticipates", "does not anticipate", or
"belief", or describes a "goal", or variation of such words and phrases or
state that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and
assumptions, including, the result of drilling and exploration activities,
that contracted parties provide goods and/or services on the agreed
timeframes, that equipment necessary for exploration is available as scheduled
and does not incur unforeseen break downs, that no labour shortages or delays
are incurred, that plant and equipment function as specified, that no unusual
geological or technical problems occur, and that laboratory and other related
services are available and perform as contracted. Forward-looking statements
involve known and unknown risks, future events, conditions, uncertainties and
other factors which may cause the actual results, performance or achievements
to be materially different from any future results, prediction, projection,
forecast, performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others, the
interpretation and actual results of current exploration activities; changes
in project parameters as plans continue to be refined; future prices of gold;
possible variations in grade or recovery rates; failure of equipment or
processes to operate as anticipated; the failure of contracted parties to
perform; labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in the company's publicly
filed documents. Although Noront has attempted to identify important factors
that could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE:
Noront Resources Ltd.
CONTACT: please contact the Investor Relations Department at
(416) 238-7226, or visit Noront's website at
Investors can also utilize Noront's IR Hub at
(NOT.)
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