Noront Announces New Cu-Ni Occurrence at Anomaly AT12
17 Juli 2008 - 10:26PM
Marketwired Canada
Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the
following update on its exploration activities in the McFaulds Lake area of
northern Ontario in the James Bay Lowlands.
EXPLORATION HIGHLIGHTS
1) Two drill holes completed thus far on Anomaly AT12 have returned encouraging
widths of visual copper-nickel-iron sulphide mineralization up to 29.2 meters in
MMS style Cu-Ni mineralization in peridotite host rock. Assays are pending.
2) Latest drilling at Anomaly AT2 (Eagle Two), continues to probe deeper and
delineate copper - nickel mineralization in a shear hosted sulphide setting
(Eagle Two SHS Occurrence) now delineated down to a vertical depth of 580 meters
along a strike length of 200 meters.
3) Assay results received from five holes (see Table 1) from Eagle Two with the
most significant intersection being 6.2 meters from 165.0 meters onwards,
averaging 1.14% nickel and 0.52 g/t Total Precious Metals ("TPM" see table
below).
4) Noront now controls and holds interests in 1,166 square kilometers of
prospective land in the Ring of Fire exploration area.
The anomaly drilling program on the Double Eagle Project continues with two
drills testing the Eagle Two (AT2 airborne anomaly) downward extent of a
copper-nickel sulphide mineralization in a Shear Hosted Sulphide ("SHS")
environment, as well as layered chromite ("LC") mineralization in a peridotite
intrusive geological environment, now referred to as "Blackbird One" so as to
distinguish this site from the Eagle Two occurrence. Information on the
Blackbird One chrome occurrence will be the subject of a separate release.
A third drill is testing other nearby airborne identified geophysical anomalies
that have been upgraded to drill targets as a result of ground geophysical
surveys and geological review, all within the geophysically interpreted
northeast extension of the Ring of Fire Intrusive ("RFI").
The drill assigned to testing anomalies has recently been moved to Grid 2 to
test anomaly AT12, located approximately 9.5 kilometers to the northeast of the
Eagle One Magmatic Massive Sulphide ("MMS") deposit.
As previously announced (see press release dated July 4, 2008) Eagle One hosts
an Indicated resource of 1.83 million tonnes averaging 1.96% nickel, 1.18%
copper, 1.12 g/t Pt, 3.91 g/t Pd, as well as an Inferred resource of 1.09
million tonnes averaging 2.39% nickel, 1.27% copper, 1.37 g/t Pt and 4.5 g/t Pd.
AT12 Anomaly
The AT12 airborne anomaly is located approximately 9.5 kilometers northeast of
the Eagle One Deposit. Drill testing has commenced on the north end of this
long, northeast-southwesterly striking strong coincident magnetic - conductive
target. Two drill holes completed to date have encountered encouraging widths of
intermittent disseminated and semi-massive copper-nickel-iron sulphide
mineralization which have been visually observed over widths up to 29.2 meters.
The two drill holes were collared in cumulative-textured peridotite with the
sulphide mineralization being encountered near the base of the ultramafic
intrusive before the holes entered granodiorite basement rock. The two holes
completed to date with a third hole underway are tabulated below with Local Grid
and UTM collar coordinates and a visual description of mineralization
encountered. Assays for this new sulphide discovery are pending, and these
results are based on visual observations only. Notwithstanding the foregoing,
visual observations are estimates only and pending assay results may not confirm
visual observations in whole or in part.
TABLE 1: Location of Anomaly AT12 Drill Holes and Visually Observed
Mineralization
----------------------------------------------------------------------------
Hole ID North- East- North- East- Azi- Dip Len- Minerali-
ing ing ing ing muth (deg- gth zation
local local UTM UTM (deg- rees) (m) (meters)
(m) (m) (m) (m) rees)
----------------------------------------------------------------------------
NOT-08-
2G01 4000 1575 5850735 553772 295 -50 240 95.85 - 99.58
semi-massive po,
pn, cpy
99.58 - 122.84
disseminated
sulphides
122.84 - 129.5
intermittent
disseminated
and semi-massive
po, pn, cpy
139.5 - 169.0
minor sulphides
----------------------------------------------------------------------------
NOT-08-
2G02 4000 1575 5850735 553772 295 -70 308 147.0 - 213.0
disseminated
sulphides
213.0 - 242.2
intermittent
disseminated
and semi-massive
po, pn, cpy
----------------------------------------------------------------------------
NOT-08-
2G03 5850592 553829 295 -50 in progress
----------------------------------------------------------------------------
The widths contained in Table 1 are not true widths as insufficient drilling has
been completed on this occurrence to determine true widths.
EAGLE TWO AND BLACKBIRD ONE OCCURRENCES (AT2 Anomaly)
Noront has a new system of naming new mineral occurrences when they reach a
certain level of continuity, size and tenure of mineralization. Nickel, copper
occurrences are assigned the name "Eagle". Chromite occurrences are assigned the
name "Blackbird". The number assigned to each occurrence type is indicative of
the order of discovery. As stated above, the company will issue a separate
release on the chrome results. To date, 32 holes totaling 11,719 meters have
been completed at the AT2 anomaly to assess the Shear Hosted Sulphide and
Layered Chrome occurrences discovered by Noront earlier this year (see earlier
press release dated May 27, 2008). Two additional holes are currently underway
(Holes NOT-08-1G55 and NOT-08-1G56), continuing to test these targets.
EAGLE TWO Ni-Cu OCCURRENCE
Assays from holes at Eagle Two, that have been received since the last press
release (May 27, 2008) are described below (see Table 2). The current drilling
has continued to extend the mineralization containing visible copper-nickel
sulphides to a vertical depth of 660 meters. The Eagle Two occurrence occupies a
position conformable with and near the stratigraphic bottom of a wide Peridotite
Sill which in turn unconformably overlies a Granodiorite older basement rock.
Assays are pending for the more recent holes. With the interpretation of the new
holes at Eagle Two, the SHS zone continues to dip flatly at 50 to 60 degrees to
the west and strikes north-south within the Peridotite sill or the "RFI".
TABLE 2: Recently received Significant Assay Results (Eagle Two)
----------------------------------------------------------------------------
Int. Pt TPM
Hole ID From (m) To (m) (m) Cu% Ni% (g/t) Pd (g/t) Au (g/t) (g/t)
----------------------------------------------------------------------------
NOT-08- 142.0 168.6 26.6 0.03 0.27 0.04 0.11 0.05 0.3
1G20
----------------------------------------------------------------------------
Including 154.9 159.0 4.1 0.1 0.73 0.03 0.16 0.06 0.25
----------------------------------------------------------------------------
----------------------------------------------------------------------------
NOT-08- 158.0 174.0 16.0 0.11 0.73 0.04 0.22 0.04 0.3
1G21
----------------------------------------------------------------------------
Including 165.0 171.2 6.2 0.16 1.14 0.07 0.35 0.1 0.52
----------------------------------------------------------------------------
----------------------------------------------------------------------------
NOT-08- 196.5 202.2 5.7 0.14 0.99 0.04 0.39 0.05 0.48
1G22
----------------------------------------------------------------------------
----------------------------------------------------------------------------
NOT-08- No significant assays
1G23
----------------------------------------------------------------------------
----------------------------------------------------------------------------
NOT-08- 216.0 229.3 13.3 0.04 0.31 0.03 0.09 0.02 0.14
1G25
----------------------------------------------------------------------------
Followed by 348.4 374.1 25.7 0.03 0.37 0.08 0.27 0.01 0.36
----------------------------------------------------------------------------
Due to the limited number of drill hole and assay results, true widths are not
yet determined for the Eagle Two occurrence.
Assays are pending for the following drill holes recently completed at the AT2
Anomaly site from both the Eagle Two and Blackbird One occurrences.
Notwithstanding the foregoing, visual observations are estimates only and
pending assay results may not confirm visual observations in whole or in part.
TABLE 3: Summary of Recent Drilling (since last press release,
assays pending)
----------------------------------------------------------------------------
Hole ID North- East- North- East- Azi- Dip Len- Minerali-
ing ing ing ing muth (deg- gth zation
local local UTM UTM (deg- rees) (m) (meters)
(m) (m) (m) (m) rees)
----------------------------------------------------------------------------
NOT-08-
1G42 850 3140 5842062 546000 0 -90 459.7 340.6-352.5
(po, mt, Cu-Ni)
425.4-426.8
semi-massive
----------------------------------------------------------------------------
NOT-08-
1G43 875 3160 5842100 546050 0 -90 630 293.9-302.5
(po, Cu-Ni)
444.2-481.3
(chrome beds)
482.4-496.3
(massive chrome)
----------------------------------------------------------------------------
NOT-08-
1G45 920 3050 5842062 545900 0 -90 357 Lost hole
----------------------------------------------------------------------------
NOT-08-
1G47 827 3300 5842137 546150 0 -90 669 549.1-554.9
(chrome beds)
----------------------------------------------------------------------------
NOT-08-
1G48 867 3225 5842137 546959 0 -90 15 Abandoned
----------------------------------------------------------------------------
NOT-08-
1G49 867 3225 5842137 546050 0 -90 248 No significant
mineralization
----------------------------------------------------------------------------
NOT-08-
1G51 947 3085 5842100 545900 0 -90 645 408.7-410
(po, Cu-Ni)
561.5-565.8
(po,Cu)
----------------------------------------------------------------------------
NOT-08-
1G52 867 3225 5842137 546050 0 -90 708 394-398
(mt, py, po, Cu)
402-406.5
(po, py, Cu)
578.5-579.5
(chrome bed)
----------------------------------------------------------------------------
For all tables:
Cu refers to copper mineralization, typically chalcopyrite (cp)
Ni refers to nickel mineralization, typically pentlandite (pn)
Po refers to pyrrhotite a sulphide mineral
Mt refers to magnetite
Cr refers to chromite mineralization
Semi-massive refers to sulphide mineralization, predominantly po, pn and cp
Drilling continues at Anomaly AT2 with two drills continuing to test the Eagle
Two and Blackbird One occurrences.
Other Anomaly Drilling Programs
Ground geophysical surveying is well underway at the Double Eagle project Grid 2
area, as well as other areas. Linecutting followed by ground geophysics has
commenced for the numerous options and joint venture properties that are
operated by Noront, around the Ring of Fire. Since January 2008, Noront staked
many additional claims and continues to acquire additional land by staking and
joint venture, all of which are being surveyed by Geotech Ltd's new deep
penetrating airborne Time-Domain Electromagnetic ("VTEM") system, over the next
few months. This new helicopter mounted system has demonstrable and acceptable
conductance discrimination for high conductance targets by using a low frequency
(30 Hz), long on-pulse and derived B-Field. Noront has amassed over 48,600
hectares of prospective ground and is in joint venture with several other
resource companies on approximately 68,000 hectares. Collectively, Noront holds
interest in approximately 116,800 hectares or 1,166 square kilometers of staked
land within what management believes is the most favorable exploration area. A
third drill has commenced on the Double Eagle Project to test airborne
anomalies, all of which have undergone further ground geophysical surveying
including AT-5, AT-6, AT-7 (all on Grid One) and AT12 (first anomaly on Grid 2)
all east and north of the Eagle One MMS deposit.
AT3 Anomaly
As reported earlier (May 27, 2008) a total of 2,621 meters was drilled in eight
holes testing airborne anomaly AT3, located 4 kilometers to the southwest of
Eagle One, or two kilometers west of Eagle Two. These holes intersected altered
(talc-chlorite alteration) and non-altered strongly magnetic peridotite units
that were locally mineralized with disseminated sulphides. The presence of
magnetite veinlets and disseminated sulphide mineralization in the peridotite
provide some evidence of conductivity and explain the high magnetic signature
for this geophysical anomaly. Samples were selected from all visual mineralized
sections, and were submitted for multi-element analysis, results from hole
NOT-08-1G26 are pending. No significant base metal or precious metal values have
been received to date.
AT5 Anomaly
The AT5 anomaly is located approximately 1.1 kilometers east of the Eagle One
deposit. This anomaly is described as a 500 meter long, 100 meter wide moderate
to strong magnetic anomaly, with weak electromagnetic responses to various
airborne and ground geophysical surveys. Two completed holes and one lost hole
totaling 675 meters were drilled to test this anomaly as outlined in the
following Table.
TABLE 4: Location of Anomaly AT5 Drill Holes
----------------------------------------------------------------------------
Hole ID Northing Easting Northing Easting Azimuth Dip Length
Local (m) Local (m) UTM (m) UTM (m) (degrees) (degrees) (m)
----------------------------------------------------------------------------
NOT-08
-1G41 578 5850 5843714 548161 90 -45 33
----------------------------------------------------------------------------
NOT-08
-1G44 577 5849 5843714 548160 90 -45 351
----------------------------------------------------------------------------
NOT-08
-1G46 577 5849 5843714 548160 90 -65 291
----------------------------------------------------------------------------
The two completed holes encountered granodiorite and peridotite as well as
serpentinized dunite. The presence of highly serpentinized dunite and peridotite
provides an inconclusive explanation for the cause of the geophysical anomalies
detected at this location and more work may be required to explain them. The
core samples contained only minor sulphides observed over short intervals.
AT6 Anomaly
The AT6 anomaly is located approximately 2.0 kilometers northeast of the Eagle
One deposit. This anomaly is described as a string of electromagnetic anomalies
over 450 meters on the southern flank of a prominent magnetic anomaly. Three
holes totaling 1,317 meters were completed while testing this anomaly as
outlined in the following Table.
TABLE 5: Location of Anomaly AT6 Drill Holes and Mineralization
----------------------------------------------------------------------------
Hole ID North- East- North- East- Azi- Dip Len- Minerali-
ing ing ing ing muth (deg- gth zation
local local UTM UTM (deg- rees) (m) (meters)
(m) (m) (m) (m) rees)
----------------------------------------------------------------------------
NOT-08-
1G50 1025 7100 5844898 548801 0 -90 651 409.8-419.60
stringers
py,po,cpy
----------------------------------------------------------------------------
NOT-08-
1G53 1025 7100 5844898 548801 315 -70 357 270.00-289.62
stringers
py,po,cpy
300.00-302.30
bands py,po,cpy
----------------------------------------------------------------------------
NOT-08-
1G54 1025 7100 5844898 548801 315 -55 309 238.40-254.10
stringers
py,po,cpy
----------------------------------------------------------------------------
All three holes drilled to date on this anomaly have encountered sulphide
mineralization that is interpreted to be iron formation style mineralization.
Observed mineralization occupies a steeply south-east dipping series of cherty,
narrow meta-volcanic beds where pyrite, pyrrhotite and chalcopyrite are present.
The mineralized intervals encountered in these holes are being sampled for this
respective metal content and assays are pending. No further work is contemplated
at present here.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the Double Eagle
project which includes grouping samples into batches of 35 into which are added
2 certified reference material standards, 2 field blanks comprised of sterile
drill core, and a field duplicate. Coarse reject and pulp duplicates also form
part of the QC program. Approximately 10% of the samples are sent to a secondary
lab as a monitor on the principal lab. It can be said with confidence that all
assays as reported in this Press Release have passed the strict quality control
guidelines as set out by Noront's an independent Qualified Person ("IQP").
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 digest followed 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 Activiation Laboratories Ltd.
Website at http://www.actlabsint.com.
Drilling results in this press release have been reviewed in the field and
approved for dissemination by Noront's senior management including John Harvey,
P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's
new Chief Geologist, both being Qualified Persons under Canadian Securities
guidelines. Noront is a tier 2 junior resource company on the TSX Venture
Exchange, trading symbol NOT, with 129,493,883 shares issued to date.
Investors are invited to visit Noront's IR Hub at
http://www.agoracom.com/IR/Noront where they can post questions and receive
answers or review questions and answers already posted by other investors.
Alternatively, investors are able to e-mail all questions and correspondence to
NOT@agoracom.com where they can also request to be added to the investor e-mail
list to receive all future press releases and updated in real time.
ON BEHALF OF THE BOARD OF DIRECTORS:
R. Nemis, President and Chief Executive Officer
This press release includes certain "Forward-Looking Statements" within the
meaning of the US Private Securities Reform Act of 1995. Other than statements
of historical fact, all statements are "Forward-Looking Statements" that involve
such various known and unknown risks, uncertainties and other factors. There can
be no assurance that such statements will prove accurate. Results and future
events could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue reliance on these
"Forward-Looking Statements".
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