Noront Resources (NOT : TSX-V : $5.25), Net Change: -0.23, % Change: -4.20%, Volume: 1,836,963

Pyrrhotite, pentlandite and chalcopyrite? Dyn-o-mite!

While the latest update from Noront’s Double Eagle project in Ontario’sJames Bay Lowlands demonstrated some positive high-grade base metal intersections over smaller widths, it was most likely the larger 63-metre (from 113 metres to 176 metres) net textured mineralization in hole 12 which produced weaker grades, that had the market reacting negatively on Tuesday.

Highlights from the latest update included: Hole NOT-07-11 encountered two massive sulphide zones separated by weakly mineralized peridotite; first massive sulphide zone between 58.5 and 60.1 metres (1.6 metres averaged 4.82% Cu., 7.11% Ni., 2.53 g/t Pt., 14.65 g/t Pd., 0.19 g/t Au., and 14 g/t Ag.) followed by a second massive sulphide section between 74.5 and 75.8 metres (1.3 metres averaging 4.43% Cu., 7.37% Ni., 1.08 g/t Pt., 18.1 g/t Pd.,
0.22 g/t Au and 13 g/t Ag); Hole NOT-07-12 intersected mineralized peridotite between 81.5 metres and 176 metres, including a massive sulphide zone between 82.5 and 92 metres downhole.

This 9.5-metre section averaged 1.54% Cu., 6.99% Ni., 2.61 g/t – Canadian and U.S. Comments for Wednesday November 7, 2007 5 Pt., 10.07 g/t Pd., 0.15 g/t Au and 5.21 g/t Ag. Then from 92 to 113 metres a semi-massive section of sulphides was encountered consisting of pyrrhotite, pentlandite and chalcopyrite, followed by net textured nickel and copper sulphide mineralization to 176 metres.

To date, Noront has completed 3,263 metres of diamond drilling in 19 diamond drill holes (including current holes that are underway) on the Eagle One Ni-Cu-PGE occurrence since starting the drill program in late August. Two drills are currently working through the freeze up period on the Eagle One occurrence. Preliminary ground geophysical surveys are starting to be compiled and are currently being reviewed, focused on the Eagle One occurrence. To date a total of 2,084 kilometres of flying have been completed, initially focusing the survey in the vicinity of the Eagle One occurrence proceeding eastwards around the“Ring of Fire.”

FYI

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