HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Geology Professor's contribution

Geology Professor's contribution

posted on Jan 03, 2008 11:21AM

There was earlier talk about how the mere finding of similar grades from deposits outside of the Eagle One deposit would contribute significantly to the stock price, as well as to a future valuation discount when being bought out by a major.  Noront's University of Toronto Geology Professor wh specializes in "Magamtic Massive Sulphides", Dr. James Mungall, adds some "acadmemic" weight (for those who don't believe your regular mining geologists) to the proposition that where you find a deposit of the type being drilled at Eagle One, there are always other similar deposits around.  This is an excerpt from his quote found in Noront's December 13, 2007 Press Release: 

"The large amounts of sulfide and of ultramafic cumulate make it absolutely clear that the Eagle One deposit has formed in a magmatic conduit.  . . . If the intrusion is accepted to be a conduit then it must be continuous over considerable distances likely measurable in kilometers.  . . . The conduit has carried the slurry of sulfide droplets and small xenoliths to their current location, requiring transport over considerable distances.  This in turn suggests that Eagle One deposit resides within a large magmatic system with lateral extents . . ."

While we have heard other people suggest this "more than one" phenomenon is a common occurrence and very likely to be the case, Professor Mungall (who is consulting exclusively for Noront), who specializes in these types of MMS deposits, seems to be saying more than it is "likely" - but rather that it is "certain" to be the case (at least for "considerable distances"), and is only speculating on the final size that will be determined

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