Deep Drilling @ Eagle 1 & FWR take-over ?

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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FANTOMAS

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Deep Drilling @ Eagle 1 & FWR take-over ?

posted on Oct 25, 2009 06:29PM

Can someone provide any links to PR´s or other information about results from 10 drill holes below Eagle 1, conducted in late 2008 / early 2009 ?

Why were holes, results of which were "considered less significant" , NOT reported when even holes which returned NO mineralization were reported ?

Even more intriguing that more than half a year later (with a lot of cheap options to new management and cheap PP shares for institutions and a lot of "drilling all over the place" in the meantime), someone coincidentially remembered this "deep drilling success" and approved a vertical deep hole and .....

"Hey, look, we just discovered 2 other lenses beneath Eagle 1 (surprise, surprise !). And we get a FT-PP for $ 2,80, see how good we are! "

http://www.norontresources.com/News/Release/132

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

Hole IDfrom (m)to (m)int (m)Ni%Cu%Pt g/tPd g/tAu g/tAg g/t


NOT-08-44	294.0	322.8	28.8	4.21	2.14	0.35	6.30	0.14	4.31
including	294.0	301.6	7.6	1.16	0.98	0.73	2.73	0.10	2.65
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

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: http://www.norontresources.com/projects/rinq-of-fire/EaqleOneDrill.pdf.

Hole ID Anomaly Northing UTM Easting UTM

azimuth dip Length (m)

NOT08 -36

Eagle 1 South

5843426 547350 270 -50

294.0

NOT08 -37

Eagle 1 South

5843426 547746 270 -50

489.0

NOT08-38

Eagle 1 South

5843426 547560 270 -60

513.0

NOT08-39

Eagle 1 South

5843314 547576 270 -50

633.0

NOT08-40

Eagle 1 South

5842850 547014 090 -55

519.0

NOT08-41

Eagle 1 South

5842850 546814 090 -50

544.3

NOT08-42

Eagle 1 South

5842850 546814 270 -70

342.0

NOT08-43

Eagle 1 South

5482825 547225 vertical -90

425.9

NOT08-44

Eagle 1 South

5843600 547700 090 -50

375.0

NOT08-45

Eagle 1 South

5843600 547700 090 -60

404.4

NOT08-46

Eagle 1 South

5843558 547014 090 -50

471.0

I´m even more confused, why we would go after FWR and dilute our shares with a worthless company . Because it´s not long ago that one of our board members stated, that Chrome without Nickel is worthless in the RoF.

While FWR has no Nickel (yet), I have to consider this company "worthless" to Noront, so why would we offer 1 for 4 shares ?

My DD needs some assistance to overcome these two mentioned "gaps" !

Can someone provide some help ?

FANTOMAS

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