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)
Message: NEWS!!!!
BMO InvestorLine Alerts Noront Resources Ltd (NOT:TSXV) - News Alert Noront provides results at McFauld's Lake Project << Symbol: NOT:TSX-V Shares Outstanding: 175,633,642 Fully Diluted: 187,075,793 >> Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to provide the following update on the Company's ongoing exploration program at it's McFauld's Lake Project, James Bay Lowlands, Ontario. << HIGHLIGHTS: ----------- - Eagle's Nest: ------------- - NOT-10-089 intersected 76.2 metres averaging 2.34% Ni, 1.07% Cu, 0.92 gpt Pt and 3.26 gpt Pd; - Including 5.3 metres averaging 7.61 Ni, 0.84% Cu, 0.07 gpt Pt and 6.57 Pd >> Wes Hanson, CEO of Noront states; "Despite repeated technical challenges our drilling has again returned results of note from Eagle's Nest. We have successfully accomplished our goals with our infill drilling, namely to increase the average resource grade, move inferred resources to indicated resources and verify that our Eagle's Nest model can predict the location and extent of both massive sulphide and high grade platinum and palladium mineralization." << EAGLE'S NEST INFILL DRILLING: ----------------------------- >> Infill drilling at Eagle's Nest has been successfully completed as planned. The infill drill program had four main objectives: << - to increase the grade of the inferred resource; - to upgrade the inferred resource to indicated to support future economic analyses; - to test the adjacent wall rocks for additional mineralization using borehole geophysics; and - to test the predictive accuracy of the litho-structural model of the Eagle's Nest deposit. >> The Company believes that all the above noted objectives have been met. The infill drill results to date strongly suggest that the average grade of the inferred resource area has been increased and a significant portion of the former inferred resource will convert to indicated resource. All the holes testing the previously defined inferred resource area have intersected higher grade nickel, copper, platinum and palladium than the average grades of the inferred resource estimate. More importantly, the infill drill results demonstrate that the Eagle's Nest model developed by Company geologists accurately predicts the location and extent of both the massive sulphide and the high-grade platinum and palladium mineralization. The Company believes that projecting the structural trends outward from Eagle's Nest will identify new targets for the upcoming regional drill campaign that is scheduled to be active until the winter break. Three drills were assigned to the infill drill program. The Company currently plans to utilize one of these drills to follow up on the regional exploration targets, along with the drill already testing the AT-1 target area. A number of favourable targets have been identified for drill testing and the Company continues to update its regional targets based on new data originating from down hole surveys. Recently, Lamontagne Geophyics ("Lamontagne") have assumed the responsibility for all surface and down hole surveying. Lamontagne utilizes a UTEM system that the Company believes has a larger search radius. The switch to Lamontagne also allowed several historical holes that could not be surveyed due to equipment limitations to be surveyed. These surveys identified a number of off-hole geophysical anomalies that are being tested by drilling. << EAGLE'S NEST DEEP DRILLING: --------------------------- >> Two drills are currently assigned to the deep drilling at Eagle's Nest. This program has suffered significant mechanical and technical delays including excessive hole deviation, engine and electrical malfunctions with the newly fabricated drills and lost holes as a result of rods being stuck in the hole and poor ground conditions that prevented certain holes from reaching their target depth. The Company remains committed to testing the continuation of the Eagle's Nest deposit at depth and two holes are currently underway with that objective. The following Table summarizes the latest drill results at Eagle's Nest. << ------------------------------------------------------------------------- HOLE ID FROM TO INT. NI CU Pt Pd Au (m) (m) (m) % % g/t g/t g/t ------------------------------------------------------------------------- Eagle's Nest ------------------------------------------------------------------------- NOT-09-049 EXT Abandoned hole - excessive deviation ------------------------------------------------------------------------- NOT-09-049W1 791.1 979.5 188.4 1.67 1.30 1.13 4.24 0.22 ------------------------------------------------------------------------- NOT-09-079W2 Abandoned hole ------------------------------------------------------------------------- NOT-10-085 Abandoned hole - driller error, rods lost in hole ------------------------------------------------------------------------- NOT-10-086 No significant results ------------------------------------------------------------------------- NOT-10-088 770.5 776.5 6.0 0.82 0.87 0.32 0.17 0.07 ------------------------------------------------------------------------- NOT-10-089 518.5 594.7 76.2 2.34 1.07 0.92 3.26 0.21 ------------------------------------------------------------------------- Including 578.1 583.4 5.3 7.61 0.84 0.07 6.57 0.06 ------------------------------------------------------------------------- NOT-10-090 771.5 810.0 38.5 1.66 0.59 0.85 4.03 0.14 ------------------------------------------------------------------------- INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL: ---------------------------------------------------- >> A thorough quality control program has been in effect for the McFauld's Lake Project, which includes grouping samples into batches of 35 into which are added two certified reference material standards. Two field and pulp duplicates also form part of the quality control program. It can be said with confidence that all assays that are reported in this Press Release have passed the strict quality control guidelines as set out by Noront's Qualified Person. All samples reported upon herein were completed by Activation Labs ("Actlabs") of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digestion and by ICP analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. For more information on assay methodology please visit the Actlabs website at For further information on the McFauld's Lake Project, please refer to the Company's NI 43-101 compliant technical report "Technical Report and Resource Estimate, McFaulds Lake Project, James Bay Lowlands, Ontario Canada" (effective April 23, 2010) available on the Company's website and at
. << Wesley (Wes) Hanson President & Chief Executive Officer >> FORWARD LOOKING STATEMENTS This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company's publicly filed documents. Although Noront has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in s uch statements. Accordingly, readers should not place undue reliance on forward-looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. %SEDAR: 00003339E SOURCE: Noront Resources Ltd. Wes Hanson, President and CEO, (416) 367-1444, or visit Noront's website at: NOT at 3:59PM ET on August 10, 2010 is: Last: $1.34 CDN Change: 0.00 Volume: 0 P/E Ratio: N/A Today's High: $0.00 CDN Today's Low: $0.00 CDN -------------------------------------------------------- To edit your alerts or to trade NOT, please sign in to your BMO InvestorLine account.
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