Noront announces additional chromite results from McFaulds Lake
01 Novembre 2011 - 12:00PM
PR Newswire (Canada)
TORONTO, Nov. 1, 2011 /CNW/ - Noront Resources Ltd. ("Noront" or
the "Company") is pleased to announce the results from an
additional 16 holes at the Company's 100% owned Blackbird chromite
deposit. HIGHLIGHTS: -- NOT-11-1G215 intersected 15.62 metres
averaging 42.81% Cr2O3 at a 2.10:1 Cr to Fe ratio; -- NOT-11-1G217A
intersected 22.36 metres averaging 42.67% Cr2O3 at a 2.06:1 Cr to
Fe ratio; -- NOT-11-1G221 intersected 19.93 metres averaging 42.40%
Cr2O3 at a 2.16:1 Cr to Fe ratio; -- NOT-11-1G223 intersected 23.58
metres averaging 40.71% Cr2O3 at a 2.07:1 Cr to Fe ratio; --
NOT-11-1G226 intersected 14.72 metres averaging 42.96% Cr2O3 at a
2.18:1 Cr to Fe ratio; -- NOT-11-1G227 intersected 18.42 metres
averaging 40.03% Cr2O3 at a 2.08:1 Cr to Fe ratio. Wes Hanson, CEO
of Noront states: "Drilling at Blackbird has been completed and
results returned to date indicate that the limits of the high grade
chromite deposit have expanded to the north - northeast along
strike as well as down dip. The Company believes that this will
translate into a material increase in the chromite resource
relative to the December 2009 estimate. The Company plans to update
the chromite resource and complete a Preliminary Assessment by the
second quarter of 2012." Mr. Hanson adds: "The Company continues to
operate two drills, both of which are testing anomalies identified
by an ongoing, ground based, geophysical survey that is underway at
the Eagle's Nest Complex. Company geologists believe these
anomalies may represent buried nickel sulphide mineralization that
airborne surveys failed to highlight". BLACKBIRD DRILL RESULTS
Noront's summer drill program was undertaken to increase the
existing chromite resource. To date 47 holes (21,137 metres) have
been drilled. Of the holes drilled to date, assays have been
received on 31 holes. The following table summarizes the results of
the 16 holes for which assay data has been received since the
original Press Release of September 13, 2011. Results for the
remaining holes will be provided when received. A plan map showing
the location of the holes completed to date is available on the
Company's website.
(http://norontresources.com/documents/getDocument/blackbirdplanmapnov12011.jpg).
HOLE ID FROM TO INTERVAL Cr2O3 Cr:Fe (metres) (metres) (metres) (%)
NOT-11-1G214 344.10 356.72 12.62 32.24 1.60 NOT-11-1G215 203.63
219.25 15.62 42.81 2.10 NOT-11-1G216 106.20 111.87 5.67 32.37 1.46
and 370.25 385.28 15.03 36.81 1.94 NOT-11-1G217A 255.22 287.70
32.48 33.09 1.81 including 264.45 286.81 22.36 42.67 2.06
NOT-11-1G218 179.65 187.65 8.00 36.16 1.93 NOT-11-1G219 125.46
133.60 8.14 33.04 1.69 and 387.79 408.83 21.04 39.08 2.08
NOT-11-1G220A 405.21 413.58 8.37 31.46 1.58 and 439.32 458.51 19.19
33.56 1.86 including 445.34 456.71 11.37 37.25 1.94 NOT-11-1G221
220.90 240.83 19.93 42.40 2.16 NOT-11-1G222 176.64 179.85 3.21
38.32 1.57 NOT-11-1G223 68.21 91.79 23.58 40.71 2.07 and 486.17
493.29 7.12 38.27 1.81 NOT-11-1G224A 188.04 195.40 7.36 35.06 1.80
NOT-11-1G225 15.00 38.44 23.44 35.24 2.15 and 194.87 201.79 6.92
41.68 1.96 and 429.08 441.01 11.93 37.50 1.81 NOT-11-1G226 215.10
232.55 17.45 39.87 2.07 including 216.78 231.50 14.72 42.96 2.18
NOT-11-1G227 14.45 39.00 24.55 38.34 2.16 and 215.57 243.72 28.15
38.52 1.87 and 453.91 472.33 18.42 40.03 2.08 NOT-11-1G228 No
significant results NOT-11-1G229 149.30 152.30 3.00 30.70 1.67
REGIONAL EXPLORATION UPDATE: The Company has initiated a ground
based geophysical survey over the Eagle's Nest Complex (Eagle's
Nest, Eagle Two and Blackbird). Approximately 50% of the planned
survey area has been completed. Preliminary analysis suggests that
the survey successfully maps the contact between the barren
granodiorites and the ultramafic rocks hosting nickel sulphide
mineralization. A number of targets have been identified that may
represent buried nickel sulphide mineralization. The Company has
initiated a limited drill program that will run from October
through December 2011. Costs are estimated to be $2.0 million. The
Company has sufficient cash on hand to complete the planned
drilling. Future exploration work will be dependent on the results
of this drill program. INDEPENDENT QUALITY CONTROL AND ANALYTICAL
PROTOCOL All holes are systematically logged, sampled and shipped
under strict chain of custody procedures to Activation Labs
("Actlabs") in Thunder Bay, ON for sample preparation and initial
analyses utilizing fusion X-ray fluorescence ("XRF") methods. A
thorough quality control program has been in effect for the
McFaulds Lake Project, which includes grouping samples into batches
of 35 into which are added one blank, two internationally certified
reference materials ("ICRMs"), one quarter sawn field duplicate, a
coarse reject duplicate and a pulp duplicate. The pass/fail
criteria demands that if the measured concentrations of the ICRMs
exhibit a difference greater than two standard deviations above or
below the established mean grade of the ICRM the entire batch is
considered to have failed and must be re-analysed. It can be said
with confidence that all assays have passed the strict quality
control guidelines established by Noront's Qualified Person. For
more information on assay methodology please visit the Actlabs
website at http://www.actlabsint.com. For more information on the
Blackbird chromite deposits, please refer to the Company's National
Instrument 43-101 compliant technical report "Technical Report on
the Mineral Resource Estimate for the Blackbird Chromite Deposit,
James Bay Lowlands, Ontario, Canada" (effective January 22. 2010)
available on the Company's website and at www.sedar.com. The
preparation of this press release has been supervised by Noront's
senior management including Mr. W. Hanson, P.Geo., President and
CEO. Mr. Hanson is a "Qualified Person" as defined in NI
43-101. About Noront: Noront Resources Ltd. is focused on
developing the high-grade Eagle's Nest
nickel-copper-platinum-palladium deposit, the exploration and
development of the Blackbird chromite discovery and regional
exploration for additional mineral deposits within it's large,
highly prospective land position in an area known as the "Ring of
Fire", an emerging multi-metals camp located in the James Bay
Lowlands of Ontario, Canada. Wesley (Wes) Hanson President &
Chief Executive Officer 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. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Noront Resources Ltd. CONTACT: Contact Wes Hanson, President and
CEO at (416) 367-1444, accesstheCompany's website at
www.norontresources.com or search the Company'spublically filed
documents at www.sedar.com.
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