Hi Guys,

I'm long term NOT holder, but wanted to share with you some info from dutch newsletter.

GLTA 

MD

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Middelkoop Discovery Alert         Update Noront Resources (NOT.V)

                                                             (Pre)Discovery Alert Fancamp (FNC.V)

         “ Noront: EAGLE TWO HAS LANDED ”

Hello all,

We first introduced Noront Resources at C$0.47 in December 2006, after their impressing ‘Windfal Lake’ gold discovery and we did send out Discovery Alert # 33, in September 2007  ($1.74), after the publication of their important near surface nickel-copper discovery on the company's Double Eagle project located in James Bay Lowlands, northeastern Ontario. Shares hit $7.00 a few weeks later.

But now, after a few months long of consolidation, investors can look forward towards a new strong run. Monday’s report about the discovery of a second massive “nickel-copper” sulphide occurrence, located 2 kilometers to the southwest of its Eagle One discovery, will change this play big time.

CEO Quote

"We are pleased to announce that semi-massive to massive sulphide mineralization has been encountered about 2 kilometers to the southwest of Eagle One, in what is believed to be a peridotite filled conduit of the Eagle One magmatic massive sulphide occurrence. Our new drill objectives are to focus on this new occurrence and also to complete drill testing several other high-priority geophysical targets within the Double Eagle project area" Richard Nemis, President and CEO of Noront.

Ring of Fire – A New Mining Camp

Great nickel discoveries our almost always found in clusters. So finding a second deposit was just a question of time in our opinion. The importance of now finding this second discovery can’t be stressed enough. Many more discoveries can be made the next few months and years. A dozen or more targets, which the same geophysical characteristics, will be drilled in the next few months. Major players in the industry, like Rob McEwen, have taken their positions and bought huge chunks of shares in recent months.

EAGLE TWO Discovery -  four holes drilled already

But let’s first have a look at the most interesting parts from the Press Release;

“This new massive sulphide discovery occurred at the Aerotem Anomaly #2, located approximately 2 kilometers to the southwest of the Eagle One magmatic massive sulphide occurrence. Four holes have intersected massive to semi-massive sulphide mineralization. The rock units encountered at Eagle Two consist of strongly altered peridotite hosting a multi-phased deformation zone containing veins of sulphides ranging from a few centimeters wide to over 3 meters wide. The deformation zone varies in length from 3 meters to 26 meters in the holes drilled to date. The sulphide veins encountered in each hole are composed of pyrrhotite, magnetite, chalcopyrite and pentlandite with variable amounts of talc. Large crystals of pentlandite up to a few millimeters in size are evident in the most recent drill hole (NOT-08-1G8). A detailed account of this new discovery will be press released shortly.”

Analysis

The presence of magnetite and large crystals of pentlandite together with pyrrhotite make this second discovery extra interesting, because pentlandite is a primary source for nickel, and pyrrhotite when accompanied by pentlandite can carry up to 5% nickel. When you can see the crystals of pentlandite with the naked eye, as reported in this press release, you are looking at 2% nickel easily.

Area Play

Normally we advise to stay and stick with the real thing. And yes, we can expect a strong jump in Noront shares when the trading resumes today, but even more money can probably be made by investing in cheap exploration companies with great land packages in the area. Chances are high we will see the development of a whole new mining camp in this area, in which many more deposits will be found.

It is almost sure a huge second speculation game will develop now. Many investors will be on the hunt for other small exploration companies which will have the best risk-reward ratio. Many did already shot up 20-30%, after the release of the press release, during the last our of trading on Monday.

(Pre)Discovery Alert  - Fancamp Exploration (FNC.V)

Our favorite is Fancamp Exploration. Although up almost 1000% since the day of the first NOT nickel discovery, FNC still has a market cap of just over $50 million, based on Monday’s closing price of $2.15. Why are investors buying up this tiny company, which doesn’t even have a website or investor relations department?

That is because Fancamp (green area) could well be owner of a large piece of the action. When we look at this claim map of the immediate area around the Eagle I discovery (yellow star) an Eagle II (second yellow circle south of yellow star), we can see Fancamp’s land package, is just near the Eagle 1 discovery and only 500 meters from the Eagle II discovery.

Unfortunately now we have to get a little technical, but on December 14 of last year, Fancamp reported that they had received data from the AeroTEM II survey. The survey had confirmed;

 “the definite linkage of the conductive magnetic high of the Noront Zone with the large, conductive magnetic anomaly on the Fancamp Property, some 300 metres to the SSE. This "Linkage" forms a less intensely magnetic corridor about 150m wide which trends southerly from the SW end of the Noront magnetic feature, for about 300 metres then swings east into the Fancamp ground”.

According to some analyst, which we highly respect, this could well mean that a large part of the actual nickel discovery could well be on Fancamp’s property. Fancamp will start drilling this target in the next few months.

Two other interesting area plays are the following joint ventures;

Temex Resources (TMX.V)/ Mac Donald Mines (BMK.V) (red areas)

Probe Mines (PRB.V)/ Canstar Resources (green blue, near Eagle 1 discovery)

How to play this

While we still have a substantial NOT position we bought a lot of Fancamp shares, during the last hour of trading on Monday. Fancamp’s market cap is less than 10% of Noront’s. While FNC can be an easy ten-beggar, NOT shares are a safer play of course. We will also add further shares of Probe Mines (PRB.V), given their micro market cap. Shares of discovery plays can normally be bought a little cheaper a few hours into trading. We would not be surprised at all when all mentioned companies would double in value in the next few months.

Area Background

Located approximately 280 kilometres due north of Nakina in the Sachigo Greenstone Belt, in the immediate locale of recent volcanogenic massive sulphide (VMS) discoveries made by Spider Resources Inc. The McFauld's Lake project is located in a volcanic massive sulphide (VMS) geological setting that was accidentally discovered by De Beers Canada, while searching for diamonds.