NOT releases results next doorMore good news for us as it is right next door, and very favourable CU. I imagine our results should follow immediately as the weather conditions were the same. GLTA
Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to report the following assay results from the Eagle's Nest Complex and the regional exploration at the Company's McFaulds Lake Project in the James Bay lowlands, Ontario.
HIGHLIGHTS:
Eagle's Nest Footwall
Hole NOT-10-096 intersected 0.4 metres of 11.2 gpt Pt, 25.1 gpt Pd, 2.08% Cu, 2.42 gpt Au
AT1 Target (Blackstone)
Hole NOT-10-1G184A intersected 8.75 metres of 0.28 g/t Pt and 0.62 g/t Pd including:
-- 0.3 metres averaging 0.56 gpt Pt and 1.41 gpt Pd -- 0.2 metres averaging 1.26 gpt Pt and 3.33 gpt Pd -- and 0.4 metres averaging 0.79 gpt Pt and 1.81 gpt Pd -- also intersected 15.6 metres of 0.17 g/t Pt and 0.39 g/t Pd including: -- 1.4 metres averaging 0.39 gpt Pt and 0.83 gpt Pd -- 0.5 metres averaging 0.56 gpt Pt and 1.36 gpt Pd -- and 1.5 metres averaging 0.37 gpt Pt and 1.03 gpt Pd -- also intersected 14.1 metres 0.51 gpt Au including: -- 0.2 metres averaging 9.35 gpt Au and -- 0.6 metres averaging 1.63 gpt Au
Eagle's Nest Deep Drilling:
Hole NOT-10-085-W1 intersected 104.7 metres averaging 1.66% Ni, 0.81% Cu (previously reported) with 0.96 g/t Pt and 3.78 g/t Pd;
Hole NOT-10-085-W2 intersected 203.3 metres averaging 1.69% Ni, 1.01% Cu (previously reported) with 1.30 g/t Pt and 4.12 g/t Pd;
Noront's President and CEO, Wes Hanson, notes: "The elevated platinum, palladium and gold may be indicative of a layered intrusive complex, similar to what is typical of the Bushveld Complex in South Africa, an interpretation supported by our Technical Advisory Board. This footwall discovery of a zone enriched precious metals demonstrates the significant exploration potential at our McFaulds Lake Project."
Exploration drilling has intersected elevated platinum, palladium and gold mineralization in footwall veins proximal to Eagle's Nest as well as at the new Blackstone chromite zone. This discovery enhances the mineral potential of the Eagle's Nest Complex which includes the Eagle's Nest, Blackbird, Triple J and Blackstone deposits which are in close proximity to one another. The Company has also intersected the Triple J Gold zone above Blackstone which extends the mineralization by 500 metres to the northwest.
The recently identified footwall mineralization, though narrow, returned elevated platinum, palladium, gold and copper which the Company believes represents a new style of mineralization, distinct from the Eagle's Nest nickel, copper sulphides. This mineralization is hosted within structures that splay off of the main Eagle's Nest body into the surrounding granitic host rocks (https://norontresources.com/find/id/53/k4). This interval is the second occurrence of footwall mineralization proximal to Eagle's Nest. The first was intersected in hole NOT-09-070W1 as noted in the Company's press release dated December 8, 2009.
Subsequent to the reporting of the new chromite mineralization at the AT1/Blackstone area, halfway between the Blackbird and Eagle's Nest deposits, the Company has received assay results for platinum, palladium and gold. Hole NOT-10-1G184A contains several zones of anomalous mineralization within the over 600 metre thick sequence of ultramafic host rocks. Recent drilling has identified new pockets of these host rocks and in particularly thick intervals. The presence of platinum, palladium and gold outside of visible mineralization is particularly encouraging, especially the continuation of the Triple J gold zone (https://norontresources.com/find/id/52/6o).
Eagle's Nest Previously Reported Intervals with updated Pt and Pd grades.