Noront identifies New Nickel Mineralization at McFaulds Lake Project and Provides Project Update
04 Fevereiro 2012 - 5:05PM
PR Newswire (Canada)
TORONTO, Feb. 6, 2012 /CNW/ - Noront Resources Ltd. ("Noront" or
the "Company") is pleased to announce the remaining results from
the Company's 2011 exploration program and to provide an update on
the Eagle's Nest Project at the Company's McFaulds Lake Project, in
the Ring of Fire, James Bay Lowlands, Ontario. HIGHLIGHTS: Nickel
sulphide NOT-11-1G243 intersected 37.3 metres averaging 0.26% Ni,
0.10% Cu, 0.19 g/t Pt and 0.62 g/t Pd NOT-11-1G244 intersected 2.9
metres averaging 1.01% Ni, 0.02% Cu, 0.03 g/t Pt and 0.05 g/t Pd.
Chromite NOT-11-1G231 intersected 8.2 metres averaging 39.63%
Cr(2)O(3) at a 1.94:1 Cr to Fe ratio; NOT-11-1G236 intersected 6.1
metres averaging 42.19% Cr(2)O(3) at a 2.21:1 Cr to Fe ratio and
NOT-11-1G239 intersected 11.5 metres averaging 35.88% Cr(2)O(3) at
a 2.01:1 Cr to Fe ratio Wes Hanson, CEO of Noront states: "While
drilling to increase the chromite resource at Blackbird continued
to return excellent results, the discovery of two new zones of
nickel sulphide mineralization, within 500 metres of Eagle's Nest,
highlights the tremendous exploration potential of this area. Both
zones of nickel sulphide mineralization were identified by a new,
ground based geophysical survey that was completed in November. In
light of the results, Management decided to expand the survey area
to include the Eagle Two and AT12 areas and raised additional flow
through funds to drill test the resulting targets during the first
quarter of 2012." Mr. Hanson also added: "The Eagle's Nest
Feasibility Study is progressing on time and on budget as is the
resource update and Preliminary Assessment of the Blackbird
chromite deposit. We continue to work closely with all levels of
government to identify an environmentally and socially responsible
plan for infrastructure development in northwestern Ontario that
will allow Noront to meet its objective of commercial nickel
production by 2016." REGIONAL EXPLORATION: The Company initiated a
ground based geophysical survey near the Eagle's Nest deposit in
October 2011. The survey established the geophysical signature of
the Eagle's Nest deposit, which was then used to evaluate the area
around the Eagle's Nest deposit for potential nickel sulphide
targets. Multiple targets were identified. All of the targets
identified were buried targets, within two to three hundred metres
from surface. Three of the buried targets were selected for drill
testing based on the strength of the geophysical response and the
fit of the target within the litho-structural model of the Eagle's
Nest area. Drilling was completed in early December and visual
observation of the core indicated that two of the three holes had
intersected nickel sulphide mineralization, suggesting the new
geophysics successfully identified previously unrecognized nickel
sulphide mineralization. The Company's geologists and geophysical
advisors believe the new geophysical survey accurately identifies
buried nickel sulphide mineralization that airborne surveys of the
camp could not detect. Management decided to expand the geophysical
survey area to include the Eagle Two and AT12 targets. Field work
commenced in early December and continued until early January,
2012. Initial post processing of the geophysical data has
identified multiple targets at AT12 and additional targets close to
Eagle's Nest that have not been drill tested. The Company is
currently drilling these targets and plans to complete the initial
drill program in the first quarter of 2012. In January 2012,
analytical results from the three-hole drill program were received
and the results confirmed the presence of nickel sulphide
mineralization. Hole NOT-11-1G243 intersected over 37 metres of
low-grade nickel sulphide mineralization, 250 metres south of the
Eagle's Nest deposit, at a depth of approximately 250 metres from
surface. Individual samples within this interval returned much
higher nickel, platinum and palladium grades over smaller
intervals. Hole NOT-11-1G244 intersected 1.0% nickel over an
approximate 3.0 metre core interval on a separate zone 250 metres
south of the mineralization intersected in Hole NOT-11-1G243. An
updated plan map noting the location of the three drill holes is
available on the Company's website.
http://www.norontresources.com/find/id/61/z1 The following Table
summarizes the results of the three drill holes. HOLE ID FROM TO
INTERVAL Ni Cu Pt Pd (metres) (metres) (metres) (%) (%) (g/t) (g/t)
NOT-11-1G243 384.00 421.32 37.32 0.263 0.102 0.189 0.622 including
393.00 396.52 3.52 0.349 0.183 0.602 0.842 and 396.00 396.52 0.52
0.252 0.386 2.700 0.761 including 398.30 400.78 2.48 0.278 0.134
0.105 0.740 including 405.69 413.50 7.81 0.310 0.136 0.222 1.087
and 405.69 407.67 1.98 0.385 0.325 0.354 1.870 and 407.36 407.67
0.31 1.000 1.000 0.753 4.430 including 411.00 413.50 2.50 0.361
0.090 0.246 1.411 including 446.00 451.00 5.00 0.271 0.050 0.091
0.575 NOT-11-1G244 254.90 257.81 2.91 1.013 0.015 0.025 0.050
including 254.90 255.17 0.27 9.860 0.120 0.018 0.060 NOT-11-1G245
No significant results The intervals above represent down-hole
intervals, true widths are not known at this time. BLACKBIRD DRILL
RESULTS The major focus of the Company's 2011 drill campaign was
directed towards increasing the Company's chromite resource base. A
total of 44 holes (22,243 metres) were drilled and 37 holes
intersected significant chromite mineralization. Many of the holes
intersected chromite mineralization external to the previously
defined limits of the Company's current chromite resource. Company
geologists believe that the drill campaign successfully expanded
the Blackbird chromite lenses along strike to the north and down
dip to 500 metres from surface. The Company previously reported
results for 15 holes on September 13, 2011 and for an additional 16
holes on November 1, 2011. The following Table presents the assay
results of the final 13 holes from the Blackbird drill program.
HOLE ID FROM TO INTERVAL Cr2O3 Cr:Fe (metres) (metres) (metres) (%)
NOT-11-1G230 206.61 209.16 2.55 34.20 1.34 NOT-11-1G231 6.75 9.43
2.68 29.54 1.71 and 211.90 220.10 8.20 39.63 1.94 NOT-11-1G232 No
significant results NOT-11-1G233 7.75 9.67 1.92 34.90 1.96
NOT-11-1G234 No significant results NOT-11-1G235B 458.51 472.04
13.53 31.23 1.82 including 462.18 465.41 3.23 38.40 2.00 including
465.61 469.97 4.36 33.71 1.87 including 470.60 472.04 1.44 35.54
1.78 and 473.37 474.81 1.44 32.83 1.71 NOT-11-1G236 5.48 6.84 1.36
31.92 1.88 and 13.69 15.40 1.71 33.34 1.91 and 193.52 199.58 6.06
42.19 2.21 NOT-11-1G237 15.56 16.52 0.96 29.03 1.80 NOT-11-1G238
30.34 31.53 1.19 30.81 1.94 and 339.39 342.04 2.65 36.83 1.57
NOT-11-1G239 475.38 486.90 11.52 35.88 2.01 including 475.38 477.94
2.56 39.80 1.88 including 480.28 486.90 6.62 37.87 2.07
NOT-11-1G240 503.41 505.50 2.09 34.74 1.95 NOT-11-1G241 No
significant results NOT-11-1G242A 493.51 497.59 4.08 34.99 1.54
including 493.97 497.59 3.62 36.65 1.54 The intervals above
represent down-hole intervals, true widths are not known at this
time. The Company plans to issue an updated resource estimate for
Blackbird early in the second quarter of 2012. An initial
Preliminary Assessment of chromite mining with ferrochrome
production in northwestern Ontario is targeted for completion late
in the second quarter of 2012 A plan map showing the location of
all the holes completed to date is available on the Company's
website. http://www.norontresources.com/find/id/60/r2 EAGLE'S NEST
PROJECT The Eagle's Nest Feasibility Study is progressing on time
and on budget. The Company expects to be able to release final
capital and operating costs early in the second quarter of 2012.
Work to date by the Company's independent consultants has been
consistent with the results of the pre-feasibility study and as a
result the Company does not expect any material changes or delays
in completing the Feasibility Study. The Canadian Environmental
Assessment Agency (CEAA) recommended a Comprehensive Review Process
for the Eagle's Nest Project. Draft Terms of Reference and a Draft
Environmental Impact Statement Guidelines have been made available
for public comment. The Final EIS Guidelines are now available from
CEAA. COMMUNITY CONSULTATION The Company is actively arranging
community open houses to present our project development plans to
communities in northwestern Ontario, including those impacted by
the infrastructure corridor the Company recommended in it's Project
Description. Much of the latter part of 2011 was dedicated to
establishing appropriate dates to host open houses in several
northwestern Ontario communities. These meetings commenced in the
first quarter of 2012. Attendance has been very robust and Noront's
staff and consultants have actively engaged the communities visited
to date. Further community meetings are planned during the first
quarter of 2012. To date, community interest for this proposed all
season road is very high. At the Eabametoong First Nation (EFN)
open house, an MOU was signed confirming a level of co-operation
between Noront and EFN in development of the proposed
infrastructure corridor and other work on EFN traditional lands.
CORPORATE Noront is pleased to announce Ms. Olya Yousefi has joined
the Company as Manager, Corporate Communications. INDEPENDENT
QUALITY CONTROL AND ANALYTICAL PROTOCOL Chromite 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, three 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 three 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
at http://www.actlabsint.com or reference the Company's NI-43-101
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. Nickel, copper, platinum, palladium,
gold and silver 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. 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 three 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. All samples reported upon herein were submitted to
Activation Labs ("Actlabs") of Ancaster, Ontario, for multi-element
analysis. Nickel and copper were analyzed using a four acid
digestion method. Samples returning values exceeding the
established limits are subjected to ICP-OES analysis. Gold,
platinum and palladium are analyzed using standard fire assay
procedure based on a 30 gram aliquot with an ICP finish. Silver
analyses are completed using a 3-acid digestion method with an ICP
finish. For more information on assay methodology please visit the
Actlabs website at http://www.actlabsint.com. For further
information on the McFaulds Lake Project, please refer to the
Company's NI 43-101 compliant technical report "Technical Report
and Resource Estimate, McFaulds Lake Project, James Bay Lowlands,
Ontario Canada" (effective April 18, 2011) available on the
Company's website and at www.sedar.com. The content of this Press
Release has been reviewed by Mr. W. Hanson, P.Geo, President and
CEO. About Noront: Noront Resources Ltd. is focused on
developing the high-grade Eagle's Nest
nickel-copper-platinum-palladium deposit, the exploration and
development of the Blackbird chromite discovery and regional
exploration for additional mineral deposits within it's large,
highly prospective land position in an area known as the "Ring of
Fire", an emerging multi-metals camp located in the James Bay
Lowlands of Ontario, Canada. Wesley (Wes) 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. 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.
Noront Resources Ltd. CONTACT: Wes Hanson, President and CEO at
(416) 367-1444, access theCompany'swebsite at
www.norontresources.com or search the Company's publicallyfiled
documents at www.sedar.com.
Copyright
Noront Resources (TSXV:NOT)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Noront Resources (TSXV:NOT)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024