TORONTO, Sept. 13, 2011 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to announce the results from the initial 15 holes at the Company's Blackbird chromite deposit at the McFaulds Lake Project. The Company has completed 39 holes totaling 17,071 metres at Blackbird. Results of the remaining holes will be provided when received.
- NOT-11-1G201 intersected 46.97 metres averaging 42.74% Cr2O3 at a 2.29:1 Cr to Fe ratio;
- NOT-11-1G203 intersected 20.12 metres averaging 41.48% Cr2O3 at a 2.16:1 Cr to Fe ratio;
- NOT-11-1G213 intersected 31.22 metres averaging 41.38% Cr2O3 at a 2.11:1 Cr to Fe ratio.
Wes Hanson, CEO of Noront states: "Our objective is to double the previously identified chromite resource at Blackbird. These initial results suggest that we are well on the way to achieving our stated objective, having intersected chromite mineralization in 80% of the holes reported herein. Drilling to date has identified new chromite lenses at Blackbird and expanded the previously identified lenses along strike and down dip. Chromite grades and chrome to iron ratios demonstrate exceptional quality, similar to the historical results at Blackbird and elsewhere in the district. Most importantly, Blackbird remains open along strike and at depth offering additional potential for continued resource increases. Our experience to date at Blackbird strongly suggests that the potential for future resource growth is directly related to drill density."
BLACKBIRD DRILL RESULTS
Noront's drill program for the summer of 2011 has focused on delineation drilling at the Blackbird chromite deposits. The drill program has been designed to take advantage of drier drill pad locations that allow drilling of the Blackbird chromite deposits during the summer months. To date, 39 holes have been drilled and drilling will continue to the end of September. Of the holes drilled to date, complete analyses have been received on 15 of the 39 holes. The following table summarizes the results of these 15 drill holes:
|NOT-09-1G144||No significant results|
|NOT-11-1G206||No significant results|
|NOT-11-1G208||No significant results|
Denotes deepening of previous drill hole.
REGIONAL EXPLORATION UPDATE:
The Company has received the results of the Computer Aided Resource Detection System ("CARDS") analysis from DIAGNOS Inc. The CARDS analysis identified multiple targets throughout the southern half of the Company's Ring of Fire claims using company geophysical, drill-core, and geochemical data. Some of these targets were drill tested during the 2010 - 2011 field season. Company geologists are currently prioritizing the remaining CARDS target areas and follow up drilling is planned for a later date.
A deep penetrating induced polarity ("IP") survey is planned to assist Company geologists in prioritizing multiple nickel, copper sulphide targets within the Eagle's Nest Complex.
Company geologists have also reviewed the data obtained from the AT-12 area last winter and have begun developing a drill program to test areas of potential nickel, copper sulphide pooling at AT-12. Drilling at AT-12 is scheduled for the winter season
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
All holes are systematically logged, sampled and shipped under strict chain of custody procedures to Activation Labs ("Actlabs") in Thunder Bay, Ontario for sample preparation and initial analyses utilizing fusion X-ray fluorescence 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, 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 two 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 www.actlabsint.com. For more information on the Blackbird chromite deposits, please refer to the Company's National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") complaint technical report entitled "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.
The preparation of this press release has been supervised by Noront's senior management including Mr. W. Hanson, P.Geo., President and CEO. Mr. Hanson is a "Qualified Person" as defined in NI 43-101.
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.