Noront Resources Ltd. V.NOT

This may be the reason for E2 delays

[glorieux]

In the April 2nd NR, they describe the 12 holes drilled so far at Eagle 2.  Now, for the record, as of Monday and I believe this has not changed, we still have a drill at E2 working.  It would not be working if it did not keep hitting paydirt.  Now out of those 12 holes 8 hit mineralization.  Out of those 8, 7 hit sulphides, semi-massive to massive up to 20M thick with visible Pentlandite chrystal(nickel) of several millimeters in diameter.  3 out of 8 hit Chromite beds of at least 20 Meters up to 48 meters.  The last hole IG21 did not hit a Chromite bed but was not finished either at time of NR so it may still hit a Chromite bed.  Seeing as it is vertical and only 25 meters from a 40 meter thick section of Chromite, my hunch is that it will hit chromite again.  That would mean that all 3 holes drilled vertically more than 200 meters hit a thick section of chromite.  Now, JohnDefur explained how Chromite beds can act as a magnet for PGEs.  If this Chromite section that is open in all direction so far does contain PGEs, it may be in significant amounts.  If PGEs are found in significant amounts over these thick sections this will be HUGE news.  They would retest the assays a second time and possibly get a second lab to do it a third time.  All this would take time. 

The time is frustrating!!!  However, at this point our downside is close to nil with Eagle 1, windfall, and all the rest that we have discussed at nauseum.  Our upside is almost without limits.  This is one time that you want to put that SELL button away were you can not reach it.  The market is just waiting for E2 assays and if they come back like I believe they will (rumour mill intensifying here that Assay of E2 are fantastic) then this will go up significantly before you can say PGE!!

Sit tight folks, Chapter 3 is about to begin.

Glorieux