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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Company Overview
Noront Resources Ltd. (TSX Venture: NOT) is focused on its McFauld's Lake Project, which includes significant, multiple high-grade nickel-copper-platinum-palladium, chromite and Vanadium discoveries in an area known as the "Ring of Fire", an emerging multi-metals district located in the James Bay Lowlands of Northern Ontario, Canada.
Noront is the dominant land holder at the Ring of Fire and continues to delineate and prove up its discoveries with NI-43-101 technical and economic reports and an aggressive, well-funded drill plan in 2009 and in 2010.
Ring of Fire - Multiple discoveries have been made since initial discovery of August 2007.
Eagle One Discovery
High grade near surface base and precious metal discovery that now has a NI 43-101 compliant resource estimate:
- Drill highlights include up to 117.4 metres grading 4.1% Ni, 2.2% Cu, 2.1 g/t Pt and 7.1 g/t Pd.
- Indicated resource of 1.8 million tonnes grading 1.96% Ni, 1.18% Cu, 1.12 g/t Pt and 3.91 g/t Pd.
- Inferred resource of 1.1 million tonnes grading 2.39% Ni, 1.27% Cu, 1.37 g/t Pt and 4.50 g/t Pd.
- High nickel grades in the massive sulphide zone make it possible for Noront to consider the option of direct shipment of ore to an existing concentrator/smelter facility outside the project area.
- The deposit remains open at depth and along strike.
Eagle Two Discovery
Near surface nickel-copper-pge target being delineated to depth in search of a sulphide rich feeder:
- Eagle Two is located two kilometers southwest of the Eagle One deposit.
- Shallow mineralization was encountered 39 metres below surface.
- Drill highlights include 34 metres of 0.6% Ni, and 6 metres of 2.2% Ni.
- Using Eagle One as a model, Noront continues to track Eagle Two in two directions, scoping for the feeder system.
Blackbird One Discovery
Drilling unexpectedly intersected massive chromite (Cr2O3) mineralization below the Eagle Two deposit:
- Blackbird One's main mineralized zone runs above 40% Cr2O3 with a favourable chrome/iron ratio or over 2.0.
- This chromite discovery is relatively high grade compared to other global deposits, has a favourable chrome/iron ratio and a desirable lumpy consistency.
Blackbird Two Discovery
Early drilling has identified massive chromite beds:
- The anomaly is one kilometre long, along strike from Blackbird One.
- Potential exists for a multimillion tonne resource
AT-12 Anomaly
Drilling to date has encountered encouraging widths of visually observed mineralization 9.5 kilometers northeast of Eagle One:
- Two drill holes encountered widths of up to 66 metres of visually observed disseminated and semi-massive copper-nickel-iron sulphides.
- The company continues to drill this target.
-Nickel deposit is still open at depth at eagles nest and along strike.
-track Eagle Two in two directions, scoping for the feeder system.
-AT12 The company continues to drill this target.
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