Noront Announces Assay Results for AT12 McFaulds Lake, James Bay Lowlands
By Noront Resources Ltd., PRNEWednesday, December 9, 2009
TORONTO, December 10 - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is
pleased to provide new assay results from its AT12 deposit at the McFaulds
Lake Property located within the Ring of Fire mineral district in the James
Bay Lowlands. Results include assays from six holes from the Company's
revitalized exploration campaign at the AT12 property, and four holes
drilled this past summer. Three of the six holes from AT12 assayed, contain
encouraging nickel-copper-platinum group element (Ni-Cu-PGE) mineralization.
ASSAY HIGHLIGHTS:
- Hole No. NOT-09-2G28 intersected 14.7 metres averaging 1.02% Ni,
0.5% Cu, 0.43gpt Pt and 1.07gpt Pd
- Including 1.6 metres averaging 4.16% Ni, 1.72% Cu, 1.51gpt Pt and
0.70gpt Pd
- Hole No. NOT-09-2G30 intersected 10.5 metres averaging 1.08% Ni,
0.56% Cu
The AT12 deposit is located approximately eight kilometers northeast of
the Eagle's Nest-Blackbird complex and within two kilometers of the
Company's Thunderbird vanadium deposit. The AT12 property has a similar
geophysical signature as the Eagle's Nest, which triggered the initial
drilling. The first phase of drilling was hampered by very difficult ground
conditions and later the results from this program were overshadowed and
delayed due to the Company's concentrated exploration efforts at
Eagle's Nest.
As part of the comprehensive data review conducted in the fall of 2009,
the drilling and borehole geophysics were reviewed and all significant holes
were re-surveyed and re-logged. This has lead to a new interpretation of the
emplacement and potential orientation of the mineralization. An expanded
exploration program for 2010 will test the new interpretation through ground
geophysics and continued drilling.
Wes Hanson, Noront's CEO states, "Results at AT12 continue to indicate
the presence of nickel-copper sulphides. Our additional drilling, coupled
with down-hole geophysics and a geological review led by Dr. James Mungall,
all offer the potential that a larger, higher grade deposit is situated
nearby." Mr. Hanson adds: "The seasonal break allows our field crews the
opportunity to recharge and refocus while the assay backlog is eliminated.
It also provides an opportunity for our geological staff to work with our
geophysical consultants in evaluating the results to date and, if necessary,
adjust the drill program in the new year."
The following table summarizes the results of the six holes disclosed
herein:
------------------------------------------------------------------------
FROM TO INT. MINERALIZATION Ni Cu Pt Pd
HOLE ID (m) (m) (m) TYPE % % g/t g/t
------------------------------------------------------------------------
AT12
------------------------------------------------------------------------
NOT-09-2G26 No significant mineralization
------------------------------------------------------------------------
NOT-09-2G27 No significant mineralization
------------------------------------------------------------------------
Net Textured/
NOT-09-2G28 720.8 735.5 14.7 Massive 1.02 0.50 0.43 1.07
------------------------------------------------------------------------
Including 730.7 732.3 1.6 Massive 4.16 1.72 1.51 0.70
------------------------------------------------------------------------
NOT-09-2G29 No significant mineralization
------------------------------------------------------------------------
Net Textured/ Results
NOT-09-2G30 143.2 153.7 10.5 Disseminated 1.08 0.56 Pending
------------------------------------------------------------------------
Net Textured/ Results
NOT-09-2G31 228.1 237 8.9 Disseminated 0.58 0.42 Pending
------------------------------------------------------------------------
------------------------------------------------------------------------
The mineralized intervals do not represent true widths, which cannot be
determined at this time. Results for platinum and palladium grades were
incomplete at the time of the release and will be reported once they are
available and have been reviewed.
Please refer to Noront's website to view an updated AT12 surface plan
(please view norontresources.com/find/id/31/fN) showing the location
of the drill hole collars and a horizontal trace of their paths.
Jeremy Niemi, Noront's Vice President, Geology notes; "Our closer look
at AT12 is providing some very promising signs and prompted us to expand our
efforts moving forward. The experience of logging and interpreting such an
abundance of significant nickel-copper mineralization at Eagle's Nest and
Eagle Two have given us a unique perspective in the Ring of Fire. We are
looking forward to placing the pieces together and unlocking this exciting
development at AT12."
QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the McFaulds
Lake Projects which includes grouping samples into batches of 35 into which
are added 2 certified reference material standards, 2 field and pulp
duplicates also form part of the QC program. It can be said with confidence
that all assays are reported in this Press Release have passed the strict
quality control guidelines as set out by Jeremy Niemi, P.Geo., 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 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 www.actlabsint.com.
Preparation of drilling results in this press release has been supervised
by Noront's senior management including Jeremy Niemi, P.Geo. Vice President,
Geology, who is a Qualified Person under Canadian Securities Administrators
guidelines and has read and approved the contents of this press release.
For further information on the McFaulds Lake Property, please refer to
the Company's NI 43-101 - Standards of Disclosure for Mineral Projects
compliant technical report "Technical Report and Preliminary Economic
Assessment on the Eagle One Deposit, Double Eagle Property, McFaulds Lake
Area, James Bay Lowlands, Ontario" (effective: October 20, 2008) available
on the Company's website and at www.sedar.com.
Freewest Offer
————–
Under the current Offer, for each seven (7) Freewest shares held, Noront
will issue two (2) freely tradeable Noront shares and one (1) five-year (5)
purchase warrant with a strike price of C$4.00. The implied value at the
time of the offer was estimated to be C$0.86 per Freewest share and is
currently C$0.95 per Freewest share.
Noront's Offer has been extended and now expires on December 11, 2009.
All Freewest shareholders are urged to tender their shares to the Noront bid,
the only bid that will provide all Freewest Shareholders with the
opportunity to partake in the upside of the Ring of Fire
For more information on the Freewest Offer, please visit Noront's
website at www.norontresources.com or contact Noront's Investor
Relations Department at +1(416)-367-1444. ext 126
To tender your Freewest shares, please contact;
Laurel Hill at Laurel Hill Advisory GroupNorth American Toll Free Phone:
+1(888)-882-6742 Email: assistance@laurelhillag.com Outside North America,
Banks and Brokers Call Collect: +1(416)-637-4661
About Noront:
Noront Resources Ltd. is focused on its significant and multiple,
high-grade nickel-copper-platinum-palladium, chromite and vanadium
discoveries in an area known as the "Ring of Fire", an emerging multi-metals
district located in the James Bay Lowlands of Ontario, Canada. Noront is
the dominant land holder at the Ring of Fire and continues to delineate and
prove up its discoveries with NI 43-101 technical and economic reports and an
aggressive and well financed drill plan for the remainder of 2009 and 2010.
All material information on Noront can be found on the Company's website at
www.norontresources.com or at SEDAR at www.sedar.com
Wesley (Wes) Hanson
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.
For further information: Joanne Jobin, Vice President Corporate
Communications, at +1-(416)-367-1444 ext 126; or visit Noront's website at:
www.norontresources.com
For further information: Joanne Jobin, Vice President Corporate Communications, at +1-(416)-367-1444 ext 126; or visit Noront's website at: www.norontresources.com
