Noront Announces Additional Chromite Results (Blackbird One)
30 Juli 2008 - 7:50PM
Marketwired Canada
Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the
following update on its chromium exploration activities in the McFaulds Lake
area of northern Ontario in the James Bay Lowlands. One drill at the AT2 site
continues to test the Blackbird One and Eagle Two occurrences at approximately
50 meter centers to further define the extent of these targets. Meanwhile, the
second drill, previously assigned to AT2 has completed the first hole on a
gravity anomaly located approximately 800 meters to the east of Blackbird One
and south of the Eagle One magmatic massive sulphide ("MMS") deposit. Noront is
pleased to further announce that bands of massive chromite on this new anomaly
have been encountered in two drill holes; assays are pending.
EXPLORATION HIGHLIGHTS
1) Assay results received from four holes (see Table 1) from Blackbird One
returned wide widths of significant grade chromite mineralization the best of
which averaged 47.8 meters from 365.2 meters onward, averaging 51.1% Cr203
containing 34.9% Cr and 17.1% Fe.
2) New drilling 800 meters to the east of Blackbird One has encountered bands of
visual, massive chromite mineralization in hole NOT-08-1G57 and NOT-08-1G59.
Noront has a 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 deposits are assigned the
name "Blackbird". The number assigned to each occurrence type is indicative of
the order of discovery.
Richard Nemis, President and CEO of Noront states:
"Our successful exploration efforts in the Ring of Fire, have brought Noront
forward as one of the most successful exploration groups in North America. We
are currently evaluating several mineral occurrences in the area including: The
Eagle One Nickel-copper-platinum and palladium deposit that has indicated an
encouraging resource warranting further assessment.. The Eagle Two Nickel-copper
shear hosted sulphide ("SHS") occurrence has been drill traced beyond 700 meters
vertical depth and the Blackbird One chrome occurrence which is considered to be
a separate deposit to the Eagle Two deposit is being drill delineated as a
prelude to resource definition.
Our exploration team advises that massive chrome has been encountered nearly one
kilometer away from Blackbird One. Drilling at this new anomaly, which we have
designated as "Blackbird Two" is proceeding and will likely become a delineation
drilling program. Our results, together with the recently announced base metal
discovery by WSR and Metalex to the north, attest to the vast potential of the
Ring of Fire. Noront is working with the various First Nation communities in the
area, to employ their people and generate initiatives and business opportunities
that have arisen from the increased exploration activity in the area. These
projects if ultimately developed, could have a significant positive effect on
the economy in Northern Ontario."
The drilling program on our Double Eagle Project continues, with two drills
continuing to explore the AT2 airborne anomaly and its possible eastern
extension. As announced earlier (May 27, 2008) at AT2, a layered chromite ("LC")
occurrence in a peridotite intrusive geological environment was encountered.
This occurrence is now referred to as "Blackbird One" so as to distinguish this
site from the nearby Eagle Two "SHS" occurrence. While the "LC" mineralization
parallels the "SHS" occurrence approximately 50 meters lower in depth,
stratigraphically, it overlies the "SHS" mineralization believed to have been
formed earlier during the progressive accumulation of the peridotite sill host
rock that is now lying overturned.
BLACKBIRD ONE OCCURRENCE (AT2 Anomaly)
The "LC" zone at Blackbird One is best described as a complex of varying
thicknesses of massive chromite bearing layers within the Peridotite Sill. These
chromitite layers dip steeply at approximately 60 degrees to the west
paralleling the contact between the Peridotite Sill and the adjacent
Granodiorite. The holes containing significant Chromite mineralization reported
to date have delineated a chromite body along a strike length of 125 meters,
down to a vertical depth of 500 meters over wide core widths with favorable high
Cr/Fe ratios. Blackbird One is open along strike to the north.
TABLE 1: Blackbird One Recently received significant Assay results
--------------------------------------------------------------
Hole ID From To Int. Cu% Ni% Pd
(m) (m) (m) (g/t)
--------------------------------------------------------------
NOT-08-1G20 234.0 246.4 12.4 0.01 0.14 0.07
--------------------------------------------------------------
Followed by 246.4 285.7 39.3 0.02 0.16 0.12
--------------------------------------------------------------
Including 246.4 264.0 17.6 0.01 0.16 0.12
--------------------------------------------------------------
Also
including 264.0 285.7 21.7 0.03 0.16 0.12
--------------------------------------------------------------
--------------------------------------------------------------
NOT-08-1G25 374.1 416.7 43.6 0.00 0.17 0.11
--------------------------------------------------------------
Including 387.0 416.4 29.4 0.00 0.01 0.13
--------------------------------------------------------------
--------------------------------------------------------------
NOT-08-1G24 310.7 368.2 57.5 0.00 0.13 0.13
--------------------------------------------------------------
Including 324.0 364.5 40.5 0.00 0.14 0.13
--------------------------------------------------------------
--------------------------------------------------------------
NOT-08-1G28 355.5 425.1 69.6 0.01 0.16 0.15
--------------------------------------------------------------
Including 365.2 413.0 47.8 0.01 0.15 0.17
--------------------------------------------------------------
---------------------------------------------------------------
Hole ID Pt Au TPM Cr2O3% Cr% Fe%
(g/t) (g/t) (g/t)
---------------------------------------------------------------
NOT-08-1G20 0.11 0.01 0.19 10.2 7.0 10.7
---------------------------------------------------------------
Followed by 0.18 0.06 0.36 31.6 21.6 16.0
---------------------------------------------------------------
Including 0.19 0.02 0.33 28.2 19.3 15.9
---------------------------------------------------------------
Also
including 0.17 0.09 0.38 34.4 23.5 16.0
---------------------------------------------------------------
--------------------------------------------------------------
NOT-08-1G25 0.20 0.02 0.39 24.9 17.1 13.9
---------------------------------------------------------------
Including 0.22 0.03 0.38 29.3 20.0 15.2
---------------------------------------------------------------
--------------------------------------------------------------
NOT-08-1G24 0.14 0.02 0.29 40.4 27.5 15.8
---------------------------------------------------------------
Including 0.13 0.01 0.27 42.3 28.9 15.8
---------------------------------------------------------------
--------------------------------------------------------------
NOT-08-1G28 0.11 0.03 0.29 39.6 27.1 14.9
---------------------------------------------------------------
Including 0.14 0.03 0.34 51.1 34.9 17.1
---------------------------------------------------------------
Due to the limited number of drill hole and assay results, true widths are not
yet determined for the chromite zones at Blackbird One.
Assays are pending for the drill holes recently summarized in Table 2 and Table
3 below and recently completed at the AT2 Anomaly site from the Blackbird One
occurrence. Notwithstanding the foregoing, visual observations are estimates
only and pending assay results may not confirm visual observations in whole or
in part.
TABLE 2: Blackbird One Summary of Recent Drilling (assays pending)
----------------------------------------------------------------------------
Hole ID North- East- North- East- Azi- Dip Length Mineralization
ing ing ing ing muth (deg- (m)
Local Local UTM UTM (deg- rees)
----------------------------- rees) ---------------------
(m) (m) (m) (m) (meters)
----------------------------------------------------------------------------
NOT-08-
1G42 850 3140 5842062 546000 0 -90 459.7 No chromite observed
----------------------------------------------------------------------------
NOT-08-
1G43 875 3160 5842100 546050 0 -90 630 444.2-481.3 (chromite
beds)
---------------------
482.4-496.3 (massive
chromite)
----------------------------------------------------------------------------
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 (chromite
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 No chromite
observed
----------------------------------------------------------------------------
NOT-08-
1G52 867 3225 5842137 546050 0 -90 708 578.5-579.5 (chromite
bed)
----------------------------------------------------------------------------
Blackbird Two (Gravity Anomaly)
This new chromite occurrence resulted from the drill testing of a gravity
anomaly extending eastwards from the Blackbird One occurrence at the AT2
airborne anomaly site. Two holes have been completed along local grid line 4000
East. The two holes scissored one another to confirm dip orientation. Three
parallel bands of chromite mineralization were found to extend beneath the
gravity anomaly, dipping approx 65 degrees to the northwest within a Periodotite
Sill (Ring of Fire) striking northeast. Further drilling of this anomaly will be
carried out southeasterly towards the Blackbird One occurrence along the gravity
anomaly trend.
TABLE 3: Blackbird Two Summary of Recent Drilling (assays pending)
----------------------------------------------------------------------------
Hole ID North- East- North- East- Azi- Dip Length Mineralization
ing ing ing ing muth (deg-
Local Local UTM UTM (deg- rees)
(m) (m) (m) (m) rees) (m) (meters)
----------------------------------------------------------------------------
NOT-08-
1G57 280 4000 5842238 547024 315 -50 418.3 152.5-170.4
semi-massive to
massive chromite
173.3 -188.5
disseminated to
massive chromite
362.5-417.7
intermittent chromite
layers, disseminated
to massive
----------------------------------------------------------------------------
NOT-08-
1G59 5.00 4000 5842340 546895 105 -50 395.0 127.6-129.6
diss. chromite
175.6 - 177.1
disseminated to
massive chromite
273.0-283.2 massive
chromite
292.5-294.2 massive
chromite
----------------------------------------------------------------------------
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 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
final chrome analysis, the samples where elemental chrome using the ICPOES
multi-element analysis methodology provides greater than 1% Cr, the samples are
then submitted for additional analysis using INAA that involves irradiating the
samples prior to final analysis. This methodology provides analysis in percent
for elemental Cr as well as Cr2O3 and elemental Fe. For more information on
assay methodology please visit the Activation 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 129,824,783 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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