Noront Resources Reports Massive Chromite Assay Results at Blackbird Deposits
By Prne, Gaea News NetworkSunday, July 5, 2009
TORONTO -
Symbol: NOT:TSX-V Shares Outstanding: 154,578,457 Fully Diluted: 164,098,457
Noront Resources Ltd. (”Noront” or the “Company”) (TSX Venture: NOT) is pleased to announce assay results from 30 diamond drill holes recently completed on its Blackbird One and Two chromite deposits, located in McFaulds Lake in the James Bay Lowlands. A total of 92 holes (25,477 metres) were drilled at during the most recent drill program and drill operations were completed in June 2009.
Selected Assay Highlights - NOT 09 1G 124 intersected 43.51% Cr(2)O(3) with a chrome to iron ratio of 2.17 over a 15.7 metre interval; - NOT 09 1G 135 intersected 39.84% Cr(2)O(3) with a chrome to iron ratio of 2.12 over a 30.6 metre interval; - NOT 09 1G 136 intersected 39.64% Cr(2)O(3) with a chrome to iron ratio of 2.06 over a 24.6 metre interval; - NOT 09 1G 139 intersected 41.13% Cr(2)O(3) with a chrome to iron ratio of 2.05 over a 19.9 metre interval; - NOT 09 1G 142 intersected 40.14% Cr(2)O(3) with a chrome to iron ratio of 2.19 over a 6.1 metre interval;
Assay Results
Results have now been received for 62 of the 92 holes completed at the Blackbird chromite deposits. Results from the remaining 30 holes will be released as soon as they are compiled.
As announced in our Press Release dated June 29, 2009 (www.norontresources.com/News/getDocument/notpr-2009.06.29.pdf/147), Noront has contracted Micon International to complete an initial resource estimate for the Blackbird One and Blackbird Two deposits. This estimate is expected to be completed in the fourth quarter of 2009.
Wes Hanson, President and CEO notes: “The latest drill results continue to demonstrate chromite grades and chrome to iron ratios that meet current market specifications. More importantly, portions of the Blackbird deposits may be able to meet said specifications without requiring processing. We are looking forward with great anticipation to publishing Canada’s first chromite resource estimate which will be a vital component in procuring international chromite markets.” The table below provides select assay results for the 30 holes for which results have been received to date. The intervals sampled and reported by Noront include both massive chromite and zones of intercalated beds of chromitite and heavily disseminated chromite hosted by talc-altered dunite and peridotite. In some cases, lower grade intervals in the table below are comprised of numerous, higher quality chromite bands measuring several centimetres to metres in length. These intercalated intervals are readily upgradeable to the same quality as the massive chromite units with minimal mechanical processing. For a complete table of assayed intervals for all thirty holes being reported in this press release, please proceed to Noront’s website by following the link: norontresources.com/find/id/13/$c.
———————————————————————— Hole ID From To Interval Cr2O3 Cr:Fe Description (metres) (metres) (metres) ———————————————————————— NOT-09-1G-107 No Significant Values ———————————————————————— NOT-09-1G-108 112.60 115.00 2.40 22.42 1.21 Intercalated chromite beds ———————————————————————— NOT-09-1G-111 No Significant Values ———————————————————————— NOT-09-1G-113 21.61 25.37 3.76 18.87 1.14 Intercalated chromite beds ———————————————————————— NOT-09-1G-115 154.50 169.65 15.15 39.47 1.72 Largely massive chromite ———————————————————————— NOT-09-1G-116 No Significant Values ———————————————————————— NOT-09-1G-122 215.71 224.70 8.99 21.59 1.48 Largely massive chromite ———————————————————————— NOT-09-1G-124 74.67 90.38 15.71 43.51 2.17 Largely massive chromite ———————————————————————— NOT-09-1G-126 302.85 310.80 7.23 39.84 1.96 Massive chromite ———————————————————————— NOT-09-1G-129 95.00 114.61 19.61 17.08 1.39 Intercalated chromite beds ———————————————————————— NOT-09-1G-132 206.15 245.06 38.91 18.22 1.26 Intercalated chromite beds ———————————————————————— NOT-09-1G-133 No Significant Values ———————————————————————— NOT-09-1G-135 145.25 175.83 30.58 39.84 2.12 Largely massive chromite ———————————————————————— NOT-09-1G-136 173.44 198.00 24.56 39.64 2.06 Largely massive chromite ———————————————————————— NOT-09-1G-137 44.86 76.23 31.37 31.78 1.73 Greater than 25% chromite ———————————————————————— NOT-09-1G-138 159.47 164.18 4.71 41.82 2.22 Largely massive chromite ———————————————————————— NOT-09-1G-139 110.47 130.34 19.87 41.13 2.05 Largely massive chromite ———————————————————————— NOT-09-1G-140 58.83 72.48 13.65 29.33 1.73 Greater than 25% chromite ———————————————————————— NOT-09-1G-142 305.56 311.61 6.05 40.14 2.19 Largely massive chromite ———————————————————————— NOT-09-1G-143 No Significant Values ———————————————————————— NOT-09-1G-144 No Significant Values ———————————————————————— NOT-09-1G-145 No Significant Values ———————————————————————— NOT-09-1G-147 No Significant Values ———————————————————————— NOT-09-1G-148 45.09 52.74 7.65 42.90 2.27 Largely massive chromite ———————————————————————— NOT-09-1G-149 210.28 231.50 21.22 38.11 2.02 Massive chromite ———————————————————————— NOT-09-1G-152 No Significant Values ———————————————————————— NOT-09-1G-153 115.33 143.17 27.84 38.85 1.98 Massive Chromite ———————————————————————— NOT-09-1G-161 41.52 47.62 6.10 38.45 1.86 Largely massive chromite ———————————————————————— NOT-09-1G-164 No Significant Values ———————————————————————— NOT-09-1G-165 No Significant Values ————————————————————————
2009 Drill Program
Noront directed a significant portion of its 2008 - 2009 exploration budget towards detailed drilling of the Blackbird One and Two chromite deposits. A total of 92 holes (25,477 metres) were completed bringing the total drilling at the Blackbird deposits to 154 holes (52,344 metres). The Blackbird deposits have been drill tested along a 1,400 metre strike length with holes spaced on a nominal 50 metre by 50 metre pattern to a depth of approximately 200 metres. Noront is currently in the process of drilling deep, Bore Hole Electromagnetic (BHEM) platform holes at Eagle One. The company’s initial BHEM platform hole, NOT-09-049, intersected significant massive sulphide mineralization which was disclosed in our June 29, 2009 Press Release, www.norontresources.com/News/getDocument/notpr-2009.06.29.pdf/147.
The company believes this hole was drilled down dip of the Eagle One mineralized structure. Noront’s Chief Operating Officer, John Harvey notes, “in view of the impressive mineralization intersected by NOT-09-049; we are evaluating options for additional drilling at Eagle One to test the newly discovered mineralization at depth below the Eagle One resource limit. An additional drill may be mobilized to Eagle One to speed up the drilling process. We are also considering upgrading our current drill fleet to allow us to drill deeper along the interpreted conduit at Eagle One.” Noront is currently operating three drills within the McFaulds Lake area. One drill is completing a second, deep BHEM platform hole at Eagle One, the second drill is working at AT-12, and the third drill is operating on Noront’s northern claim area where coincident airborne MAG and EM anomalies are being targeted. All drilling currently underway is focused on testing for additional base metal targets. This press release has been reviewed and approved for dissemination by Noront’s senior management including Chief Geologist Jim Mungall Ph.D., P.Geo.; Exploration Manager Jim Atkinson M.Sc., P.Geo.; and Chief Operating Officer John Harvey, P.Eng., all being Qualified Persons under Canadian Securities guidelines.
Quality Assurance and Quality Control
All holes drilled are systematically logged and then sampled. Samples are shipped regularly to Actlabs in Thunder Bay, Ontario for sample preparation and initial analysis (TD-ICP) following strict chain of custody procedures. All chromite samples are analysed by fusion X-ray fluorescence (XRF). Individual samples are melted with borate fluxes producing a glass bead, which is then irradiated with X-rays. The X-ray emissions allow the composition of the sample to be determined to a high degree of accuracy. For more information on Actlabs analytical procedures please visit Actlabs website at: www.actlabs.com Noront also employs an internal QA/QC program where each batch of 35 samples includes one blank, two internationally certified reference materials (ICRMs, also known as standards), one quarter-sawn field duplicate, a coarse reject duplicate, and a pulp duplicate. The pass/fail criteria for the Cr standard are the same as for the previously reported INAA analytical method. In particular, if measured concentrations in standards differ from accepted values by more than two standard deviations of the method as determined by numerous INAA repeats on the standards at Actlabs, the entire batch fails and is re-analysed. Noront’s QA/QC program is supervised by Tracy Armstrong, P.Geo, of P&E Mining Consultants Inc.
About Noront:
Noront Resources 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 drill plan for 2009.
On Behalf of the Board of Directors:
Wesley (Wes) C. 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information: please contact the Investor Relations Department at +1-416-238-7226, or visit Noront’s website at: www.norontresources.com (NOT.)
Source: Noront Resources Ltd.
For further information: please contact the Investor Relations Department at +1-416-238-7226, or visit Noront’s website at: https://www.norontresources.com
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