Noront drills 42.67% Cr2O3 over 22.36 m at Blackbird Noront Resources Ltd (C:N
posted on
Nov 01, 2011 08:20AM
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)
Noront drills 42.67% Cr2O3 over 22.36 m at Blackbird
Noront Resources Ltd (C:NOT)
Shares Issued 204,393,608
Last Close 10/31/2011 $0.68
Tuesday November 01 2011 - News Release
Mr. Wes Hanson reports
NORONT ANNOUNCES ADDITIONAL CHROMITE RESULTS FROM MCFAULDS LAKE
Noront Resources Ltd. has released the results from an additional 16 holes at the company's 100-per-cent-owned Blackbird chromite deposit.
HIGHLIGHTS:
NOT-11-1G215 intersected 15.62 metres averaging 42.81% Cr2O3 at a 2.10:1 Cr to Fe ratio;
NOT-11-1G217A intersected 22.36 metres averaging 42.67% Cr2O3 at a 2.06:1 Cr to Fe ratio;
NOT-11-1G221 intersected 19.93 metres averaging 42.40% Cr2O3 at a 2.16:1 Cr to Fe ratio;
NOT-11-1G223 intersected 23.58 metres averaging 40.71% Cr2O3 at a 2.07:1 Cr to Fe ratio;
NOT-11-1G226 intersected 14.72 metres averaging 42.96% Cr2O3 at a 2.18:1 Cr to Fe ratio;
NOT-11-1G227 intersected 18.42 metres averaging 40.03% Cr2O3 at a 2.08:1 Cr to Fe ratio.
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."Mr. Hanson adds: "The Company continues to operate two drills, both of which are testing anomalies identified by an ongoing, ground based, geophysical survey that is underway at the Eagle's Nest Complex. Company geologists believe these anomalies may represent buried nickel sulphide mineralization that airborne surveys failed to highlight".
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.
HOLE ID FROM TO INTERVALCr2O3Cr:Fe (metres)(metres)(metres) (%) NOT-11-1G214 344.10 356.72 12.6232.24 1.60 NOT-11-1G215 203.63 219.25 15.6242.81 2.10 NOT-11-1G216 106.20 111.87 5.6732.37 1.46 and 370.25 385.28 15.0336.81 1.94 NOT-11-1G217A 255.22 287.70 32.4833.09 1.81 including 264.45 286.81 22.3642.67 2.06 NOT-11-1G218 179.65 187.65 8.0036.16 1.93 NOT-11-1G219 125.46 133.60 8.1433.04 1.69 and 387.79 408.83 21.0439.08 2.08 NOT-11-1G220A 405.21 413.58 8.3731.46 1.58 and 439.32 458.51 19.1933.56 1.86 including 445.34 456.71 11.3737.25 1.94 NOT-11-1G221 220.90 240.83 19.9342.40 2.16 NOT-11-1G222 176.64 179.85 3.2138.32 1.57 NOT-11-1G223 68.21 91.79 23.5840.71 2.07 and 486.17 493.29 7.1238.27 1.81 NOT-11-1G224A 188.04 195.40 7.3635.06 1.80 NOT-11-1G225 15.00 38.44 23.4435.24 2.15 and 194.87 201.79 6.9241.68 1.96 and 429.08 441.01 11.9337.50 1.81 NOT-11-1G226 215.10 232.55 17.4539.87 2.07 including 216.78 231.50 14.7242.96 2.18 NOT-11-1G227 14.45 39.00 24.5538.34 2.16 and 215.57 243.72 28.1538.52 1.87 and 453.91 472.33 18.4240.03 2.08 NOT-11-1G228 No significant results NOT-11-1G229 149.30 152.30 3.0030.70 1.67
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 athttp://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.
We seek Safe Harbor.
© 2011 Canjex Publishing Ltd.