NOT Chromite news,,,
posted on
Nov 01, 2011 07:09AM
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)
TORONTO, Nov. 1, 2011 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to announce the results from an additional 16 holes at the
Company's 100% owned Blackbird chromite deposit.
HIGHLIGHTS:
Wes Hanson, CEO of Noront states: "Drilling at Blackbird has been completed and results returned to date
indicate that the limits of the high grade chromite deposit have
expanded to the north - northeast along strike as well as down dip. The Company believes that
this will translate into a material increase in the chromite resource
relative to the December 2009 estimate. The Company plans to update the
chromite resource and complete a Preliminary Assessment by the second
quarter of 2012."
� |
� |
� |
� |
� |
� |
HOLE ID | FROM | TO | INTERVAL | Cr2O3 | Cr:Fe |
� |
(metres) | (metres) | (metres) | (%) |
� |
NOT-11-1G214 |
344.10 |
356.72 |
12.62 |
32.24 |
1.60 |
NOT-11-1G215 |
203.63 |
219.25 |
15.62 |
42.81 |
2.10 |
NOT-11-1G216 |
106.20 |
111.87 |
5.67 |
32.37 |
1.46 |
and |
370.25 |
385.28 |
15.03 |
36.81 |
1.94 |
NOT-11-1G217A |
255.22 |
287.70 |
32.48 |
33.09 |
1.81 |
including |
264.45 |
286.81 |
22.36 |
42.67 |
2.06 |
NOT-11-1G218 |
179.65 |
187.65 |
8.00 |
36.16 |
1.93 |
NOT-11-1G219 |
125.46 |
133.60 |
8.14 |
33.04 |
1.69 |
and |
387.79 |
408.83 |
21.04 |
39.08 |
2.08 |
NOT-11-1G220A |
405.21 |
413.58 |
8.37 |
31.46 |
1.58 |
and |
439.32 |
458.51 |
19.19 |
33.56 |
1.86 |
including |
445.34 |
456.71 |
11.37 |
37.25 |
1.94 |
NOT-11-1G221 |
220.90 |
240.83 |
19.93 |
42.40 |
2.16 |
NOT-11-1G222 |
176.64 |
179.85 |
3.21 |
38.32 |
1.57 |
NOT-11-1G223 |
68.21 |
91.79 |
23.58 |
40.71 |
2.07 |
and |
486.17 |
493.29 |
7.12 |
38.27 |
1.81 |
NOT-11-1G224A |
188.04 |
195.40 |
7.36 |
35.06 |
1.80 |
NOT-11-1G225 |
15.00 |
38.44 |
23.44 |
35.24 |
2.15 |
and |
194.87 |
201.79 |
6.92 |
41.68 |
1.96 |
and |
429.08 |
441.01 |
11.93 |
37.50 |
1.81 |
NOT-11-1G226 |
215.10 |
232.55 |
17.45 |
39.87 |
2.07 |
including |
216.78 |
231.50 |
14.72 |
42.96 |
2.18 |
NOT-11-1G227 |
14.45 |
39.00 |
24.55 |
38.34 |
2.16 |
and |
215.57 |
243.72 |
28.15 |
38.52 |
1.87 |
and |
453.91 |
472.33 |
18.42 |
40.03 |
2.08 |
NOT-11-1G228 |
No significant results |
||||
NOT-11-1G229 |
149.30 |
152.30 |
3.00 |
30.70 |
1.67 |
BLACKBIRD DRILL RESULTS
Noront's summer drill program was undertaken to increase the existing
chromite resource. To date 47 holes (21,137 metres) have been drilled.
Of the holes drilled to date, assays have been received on 31 holes.
The following table summarizes the results of the 16 holes for which
assay data has been received since the original Press Release of
September 13, 2011.� Results for the remaining holes will be provided
when received.
A plan map showing the location of the holes completed to date is
available on the Company's website. (http://norontresources.com/documents/getDocument/blackbirdplanmapnov12011.jpg).
REGIONAL EXPLORATION UPDATE:
The Company has initiated a ground based geophysical survey over the
Eagle's Nest Complex (Eagle's Nest, Eagle Two and Blackbird).
Approximately 50% of the planned survey area has been completed.
Preliminary analysis suggests that the survey successfully maps the
contact between the barren granodiorites and the ultramafic rocks
hosting nickel sulphide mineralization. A number of targets have been
identified that may represent buried nickel sulphide mineralization.
The Company has initiated a limited drill program that will run from
October through December 2011. Costs are estimated to be $2.0 million.
The Company has sufficient cash on hand to complete the planned
drilling.
Future exploration work will be dependent on the results of this drill
program.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
All holes are systematically logged, sampled and shipped under strict
chain of custody procedures to Activation Labs ("Actlabs") in Thunder
Bay, ON for sample preparation and initial analyses utilizing fusion
X-ray fluorescence ("XRF") methods.
A thorough quality control program has been in effect for the McFaulds
Lake Project, which includes grouping samples into batches of 35 into
which are added one blank, two internationally certified reference
materials ("ICRMs"), one quarter sawn field duplicate, a coarse reject
duplicate and a pulp duplicate. The pass/fail criteria demands that if
the measured concentrations of the ICRMs exhibit a difference greater
than two standard deviations above or below the established mean grade
of the ICRM the entire batch is considered to have failed and must be
re-analysed.
It can be said with confidence that all assays have passed the strict
quality control guidelines established by Noront's Qualified Person.
For more information on assay methodology please visit the Actlabs
website at http://www.actlabsint.com. For more information on the Blackbird chromite deposits, please refer
to the Company's National Instrument 43-101 compliant technical report
"Technical Report on the Mineral Resource Estimate for the Blackbird
Chromite Deposit, James Bay Lowlands, Ontario, Canada" (effective
January 22. 2010) available on the Company's website and at www.sedar.com.
The preparation of this press release has been supervised by Noront's
senior management including Mr. W. Hanson, P.Geo., President and CEO.�
Mr. Hanson is a "Qualified Person" as defined in NI 43-101.
About Noront:� Noront Resources Ltd. is focused on developing the high-grade Eagle's
Nest nickel-copper-platinum-palladium deposit, the exploration and
development of the Blackbird chromite discovery and regional
exploration for additional mineral deposits within it's large, highly
prospective land position in an area known as the "Ring of Fire", an
emerging multi-metals camp located in the James Bay Lowlands of
Ontario, Canada.
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 such 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.
�