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Excellent coverage of Noront Reources and it's eventual potential. #mining $NOT #ICDA #ringoffire #norontresources
https://norontresources.com/wp-content/uploads/2021/01/2021-ICDA-Special-Release-Canadas-Ring-of-Fire.pdf
They do say "follow the money", well, it's covered by none other than Andrew Forrest.
"Item 2 - Identity of the Acquiror
2.1 State the name and address of the acquiror.
Wyloo Canada Holdings Pty Ltd. (“Wyloo Canada”), a wholly-owned subsidiary of Wyloo
Metals Pty Ltd. Wyloo Canada’s registered office is located at 745 Thurlow Street, Suite
2400, Vancouver, British Columbia V6E 0C5.
2.2 State the date of the transaction or other occurrence that triggered the requirement
to file this report and briefly describe the transaction or other occurrence.
On December 4, 2020, Wyloo Canada entered into an agreement to acquire (i) 94,553,126
Noront Shares, (ii) warrants to acquire 1,774,664 Noront Shares and (iii) a US$15 million
convertible loan, convertible into Noront Shares at a conversion price of Cdn$0.20 per
share.
2.3 State the names of any joint actors.
Wyloo Canada may be considered to act jointly with its indirect controlling shareholder,
being Andrew Forrest. "
Look him up...https://www.forbes.com/profile/andrew-forrest/?sh=27d70de415d6
https://www.sedar.com/GetFile.do?lang=EN&docClass=4&issuerNo=00003339&issuerType=03&projectNo=03148631&docId=4851877
$NOT
Wyloo Metals of Australia came aboard for a reason $NOT
https://www.wyloometals.com/news/2020/wyloo-metals-to-purchase-cornerstone-position-in-noront-resources-from-resource-capital-fund-v-l-p/
https://www.timminspress.com/news/local-news/mayor-sees-economic-prospects-for-timmins-in-2021
Smelter coming, roads coming it'll be a big year $NOT
""Concerning the much-anticipated Ring of Fire developments, Pirie remains steadfast that the Noront Resources ferrochrome smelter will eventually be coming to Timmins, despite the current plans for it to be located in Sault Ste. Marie.
“Noront won’t be the company that builds that. Just two weeks ago, I was talking to Al (Coutts, president and CEO) and those discussions are still ongoing. We know Sault Ste. Marie has had a few setbacks. We want and we will get that smelter here in Timmins.”
The plan is still to host the smelter east of the city at the Kidd Metallurgical Site, well away from homes and businesses.
“Development is favoured if you have a brownfield site, and we have a brownfield site. It sits there because of 150 million tonnes of polymetallic material that has been mined over the last 50 plus years, and why would you want to develop another one of those.”
Pirie feels that Timmins has a leg-up moving forward.
“Sudbury doesn’t want it. Thunder Bay doesn’t want it. There are some questions with Sault Ste. Marie.""
Yes, I bought in real early just been accumulating...A heck of a wait...this is going to get good soon. Kyloo Metals provides a wealth of expertise and financing if required...$NOT
Investor news out - close at HOD
not likely now---the creek at bralorne was washed out
Nice volume today...is Jan the month this finally takes off
In play again after road news from Wynne.
Yes, she can (altough a little bit late imho)
Chart looking fantastic to me
After a hard cross middle of BB and MA(50) I expect further upward potential
Lots of talk on Twitter today about the Ring of Fire.
Noront is the biggest player in the game there.
All the major provincial political parties are pledging 1 Billion to help with infrastructure, specifically roads and rail systems.
The Ring of Fire is turning into a BIG campaign issue.
Former Ontario Premier, Bob Rae is representing the native communities interest in the negotiations.
http://www.theglobeandmail.com/news/politics/bob-rae-jumps-into-ring-of-fire/article12768375/
Just last week the Ring of Fire was featured on TV Ontario's show "The Agenda" hosted by Steve Paiken
http://theagenda.tvo.org/episode/203545/the-election-agenda%3A-the-ring-of-fire
It's only a matter of time before the federal government gets involved.
This stock is going to explode soon..... JMO
Hmmm...suprised that more are NOT posting on this board....
HUGE RECENT NEWS:
http://www.cbc.ca/news/canada/thunder-bay/noront-to-buy-cliffs-ring-of-fire-camp-in-northern-ontario-1.2652021
Is paragraph 6 what's behind today ? (a March 4th news release)
http://online.wsj.com/article/PR-CO-20140114-907367.html
Noront Resources Can't find (Bigcharts) symbol for KWG....
Other players also incl BOL and FNC
http://www.huffingtonpost.ca/stan-sudol/ontario-ring-of-fires-ast_b_4809855.html
Looks like NOT is waking up?!
Golden cross recently formed. Recent Toronto Star article helped I think.
http://www.thestar.com/business/2014/02/21/hope_burns_bright_for_toronto_miner_in_ring_of_fire.html
Opening Up The Ring Of Fire
Wes Hanson Discusses Noront’s Nickel-Copper-PGM Feasibility Study
Kevin Michael Grace
Noront Resources Ltd V.NOT announced September 5 the results of a 43-101 feasibility study of its Eagle’s Nest nickel-copper-PGM mine at McFaulds Lake in the Ring of Fire, northern Ontario. Based on metals prices of $9.43 per pound copper, $3.60 per pound copper, $1,600 per ounce platinum, $599 per ounce palladium and $1,415 per ounce gold, the study forecasts an aftertax net present value (NPV) of $543 million (at an 8% discount rate), a 28% aftertax internal rate of return (IRR), a $609-million initial CAPEX, plus a $160-million life-of-mine sustaining CAPEX and a three-year payback period.
Eagle’s Nest contains proven and probable resources of 11.1 million tonnes grading 1.68% nickel, 0.87% copper, 0.89 grams per tonne platinum and 3.09 g/t palladium. The mine is forecast to produce one million tonnes per year, producing 150,000 tonnes of nickel-copper concentrate annually over 11 years, at $97 per tonne or $2.34 per pound of nickel equivalent.
Read more of this interview with Wes Hanson on Noront's Nickel-Copper-PGM play. http://resourceswire.com/2012/09/opening-up-the-ring-of-fire/
Noront Announces Additional Drill Results at McFaulds Lake
TORONTO, ONTARIO--(Marketwire - July 9, 2012) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE:NOT) is pleased to announce drill results from the winter exploration program at its McFaulds Lake Property, James Bay Lowlands, Ontario.
HIGHLIGHTS
AT12
NOT-12-AT12-002 10.3 metres averaging 1.02% Ni, 0.23% Cu, 0.31 g/t Pt and
1.47 g/t Pd;
NOT-12-AT12-003 12.2 metres averaging 0.89% Ni, 0.34% Cu, 0.39 g/t Pt and
2.04 g/t Pd;
TABLE 1
----------------------------------------------------------------------------
HOLE ID FROM TO INTERVAL Ni Cu Pt Pd
(metres) (metres) (metres) (%) (%) (g/t) (g/t)
----------------------------------------------------------------------------
NOT-12-1G001 356.50 376.00 19.50 0.279 0.028 0.048 0.181
and 410.00 415.50 5.50 0.290 0.005 0.153 0.535
and 453.00 476.90 23.90 0.162 0.050 0.366 0.754
and 519.00 552.00 33.00 0.308 0.014 0.034 0.148
NOT-12-1G002A 390.50 407.40 16.90 0.227 0.055 0.062 0.274
and 469.60 471.77 2.17 0.552 0.059 0.052 0.145
and 553.20 557.50 4.30 0.239 0.006 0.044 0.134
and 615.00 618.00 3.00 0.273 0.007 0.025 0.100
and 839.50 844.00 4.50 0.218 0.000 0.210 0.426
NOT-12-1G003 522.50 527.80 5.30 0.213 0.018 0.073 0.214
and 541.68 549.50 7.82 0.339 0.021 0.085 0.429
including 544.45 545.35 0.90 1.200 0.108 0.301 2.470
and 628.47 663.50 35.03 0.209 0.032 0.174 0.458
including 650.75 666.00 15.25 0.258 0.032 0.183 0.574
----------------------------------------------------------------------------
TABLE 2
----------------------------------------------------------------------------
HOLE ID FROM TO INTERVAL Ni Cu Pt Pd
(metres) (metres) (metres) (%) (%) (g/t) (g/t)
----------------------------------------------------------------------------
NOT-12-AT12-001 253.00 311.46 58.46 0.228 0.044 0.099 0.327
and 392.70 438.50 45.80 0.435 0.181 0.149 0.584
including 419.80 420.64 0.84 1.030 1.590 0.305 1.820
NOT-12-AT12-002 326.69 344.50 17.81 0.721 0.170 0.243 1.120
including 326.69 337.00 10.31 1.019 0.225 0.306 1.470
including 326.69 332.50 5.81 1.365 0.263 0.324 1.601
and 628.50 633.00 4.50 0.231 0.092 0.057 0.343
NOT-12-AT12-003 318.78 367.00 48.22 0.445 0.135 0.215 0.931
including 318.78 331.00 12.22 0.889 0.343 0.385 2.043
including 337.00 367.00 30.00 0.315 0.074 0.174 0.607
including 343.00 358.00 15.00 0.408 0.099 0.240 0.842
and 410.33 418.00 7.67 0.450 0.168 0.216 0.389
including 410.33 410.86 0.53 2.870 1.510 1.570 2.050
and 561.30 617.00 55.70 0.328 0.104 0.134 0.430
and 648.00 686.00 38.00 0.269 0.046 0.103 0.306
----------------------------------------------------------------------------
Noront enters into C$10m private placement with RCF V
http://www.miningweekly.com/article/noront-enters-into-c10m-private-placement-with-rcf-2012-04-25
FOCUS: Corporate Social Responsibility Growing Focus For Mining Industry
30 March 2012, 11:09 a.m.
By Debbie Carlson
Of Kitco News
http://www.kitco.com/
http://www.kitco.com/reports/KitcoNews20120330DeC_CSR.html
Noront triples chromite resource in Ring of Fire
TORONTO, March 20, 2012 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSXV: NOT) is pleased to announce an updated, independent Mineral Resource Estimate for it's 100% owned Blackbird chromite deposit at the Company's McFaulds Lake Project, in the Ring of Fire, James Bay Lowlands, Ontario.
Micon International Ltd. ("Micon"), an independent consulting engineering company, completed the resource estimate. The estimate is classified according to the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards on Mineral Resources and Mineral Reserves which have been incorporated by reference in the Canadian Securities Administrators ("CSA") National Instrument 43-101, Standards for Disclosure for Mineral Projects.
HIGHLIGHTS:
Measured Resource: 9.3 M tonnes averaging 37.44% Cr2O3 and 2.00 Cr:Fe
Indicated Resource: 11.2 M tonnes averaging 34.36% Cr2O3 and 1.95 Cr:Fe
Measured and Indicated Resource: 20.5 M tonnes averaging 35.76% Cr2O3 and 1.97 Cr:Fe
Inferred Resource: 23.5 M tonnes averaging 33.14% Cr2O3 and 1.97 Cr:Fe
The market did not respond favorably... no volume that was noteworthy either... hmmmm.
Noront identifies New Nickel Mineralization at McFaulds Lake Project and Provides Project Update
TORONTO, Feb. 6, 2012 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) 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% Cr2O3 at a 1.94:1 Cr to Fe ratio;
NOT-11-1G236 intersected 6.1 metres averaging 42.19% Cr2O3 at a 2.21:1 Cr to Fe ratio and
NOT-11-1G239 intersected 11.5 metres averaging 35.88% Cr2O3 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
HOLE ID FROM TO INTERVAL Cr2O3Cr: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
Scoreboard for the week: +1.19%
Excellent consolidation on the weekly chart...
see the i-Box/i-Message
I'm actually starting to get excited about this and many of my holdings right now. Not yet, but starting to...
The bottom has been found and seems to be ready to move up as the market repsonds favorably to the news.
Noront announces availibility of permitting documents
TORONTO, Dec. 2, 2011 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) has released the Notice of Commencement of Terms of Reference.
Noront is continuing with its work for the Environmental Assessment for the Eagle's Nest Mine Project in northwest Ontario. Since 2009, Environmental Baseline studies have been conducted around the mineral deposit, at infrastructure sites, and along the access corridor. Noront has also been advancing the engineering of the mine and infrastructure since 2009, incorporating means to protect the environment and support sustainable development.
Draft Terms of Reference (TOR) for the Eagle's Nest Mine project have been prepared by Noront in compliance with Ontario Ministry of the Environment (MOE) requirements. The draft TOR is available for review by the public, and copies can be down loaded at www.norontresources.com or www.eaglesnestmine.com
The Federal government's Environmental Assessment process has advanced and a draft Environmental Impact Statement Guidelines for the Eagle's Nest Mine Project has also been released for public review. A copy of the Draft Eagles Nest Environmental Impact Guidelines can be downloaded from CEAA's website www.ceaa.gc.ca, www.norontresources.com or www.eaglesnestmine.com.
These two Notices begin the public involvement in the regulated processes for the Federal and Provincial government reviews of the project. These articles are available for public review on our website and additional project information is provided at www.eaglesnestmine.com. Noront has produced project reports and summary documents (including copies in Oji-Cree) to the general public and the local First Nation communities. Noront is committed to providing all relevant project information through public documents, open houses, websites, and community meetings through the consultation program. Additional information or clarifications can also be requested via email at consultation@norontresources.com
Noront's President and CEO Mr. Wes Hanson commented, "This is an important first step in the project development and permitting for the Eagle's Nest Mine. We are committed to responsible development and we look forward to receiving comments from the public. We believe public comments are an important part of the process and will greatly assist us in the refinement of the project for the benefit of all stakeholders"
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 its 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.
Up another 10%... nearly 23% for the week so far!
Noront has been so undervalued for so long and we are now almost up 100% from the recent lows. If we can get a nice rally in precious metals this should reach $.90 before the new year. I will for sure take my profits.
The market is embracing the recent news...!!!
Noront Announces Additional Chromite Results From Mcfaulds Lake
http://www.norontresources.com/News/getDocument/nov12011pressrelease.pdf/290
Noront Expands Chromite Mineralization at McFaulds Lake
http://agoracom.com/ir/Noront/forums/discussion/topics/499158-noront-expands-chromite-mineralization-at-mcfaulds-lake/messages/1592058
Excellent news. thanks for the update!
New out: this should put a floor in the share price.
http://www.norontresources.com/News/getDocument/PFSPRFINAL1.pdf/285
any idea where noront could settle? the trend is alarming but im a long term shareholder and would like to get some idea where to make my next accumulation
The weekly chart show the relentless downtrend.
For the week: -12.33%
BAOSTEEL RESOURCES TO ACQUIRE 9.9% INTEREST IN NORONT
TORONTO, May 2 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to announce that it has agreed on definitive terms in connection with a proposed offering ("the Offering") with Baosteel Resources International Co., Ltd. ("Baosteel"), part of The Baosteel Group, one of China's largest steel producers, for a strategic investment by Baosteel in Noront by way of a non-brokered private placement of Units.
Under the terms of the Offering, Noront will issue such number of shares as is equal to 9.9% of the total issued and outstanding common shares of Noront at the time of closing at a price of $0.86 per Unit. Each Unit consists of one common share and one half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant shall be exercisable to acquire one common share of Noront at an exercise price equal to $1.16 for a period of 24 months following the closing date. Net proceeds of the common share portion are anticipated to be approximately C$ 17.4 million. Exercise of the Warrants would increase Baosteel's equity ownership interest in Noront to 14.15%, with aggregate proceeds to Noront of approximately C$11.7 million.
Noront's President and CEO, Wes Hanson, notes, "Baosteel's intended investment represents the initial step in a potential long-term partnership that provides Noront access to one of China's largest steel producers and China's rapidly expanding stainless steel industry. Baosteel performed detailed due diligence on our property, its potential and the completed technical studies. Baosteel recognizes the potential of our Eagle's Nest discovery and further recognizes the potential of our Blackbird chromite deposits. Baosteel's investment will allow us to proceed with the necessary engineering work to define the value of our discoveries to date in the Ring of Fire while we continue exploring this exciting district with a view towards identifying additional mineral resources."
Proceeds from the Offering will be used to:
Fund completion of the Eagle's Nest feasibility study;
Fund completion of a feasibility study on the Blackbird chromite deposit including exploration drilling to increase the current resource; and
Fund further exploration work on our Ring of Fire properties and corporate expenses.
The Offering provides Baosteel with the right to nominate one individual to the Noront Board of Directors, a right to increase their ownership in Noront to 19.9% for a one year period commencing on April 18, 2012 and a standstill provision which expires on April 18, 2013.
The Offering is subject to final approval by Baosteel's Board of Directors and all securities and the regulatory authorities in both countries including the TSX Venture Exchange. Noront anticipates closing of the Offering to occur on or about June 2, 2011.
About Baosteel Resources International Co. Ltd.:
Baosteel Resources International Co. Ltd., headquartered in Hong Kong, is the overseas headquarters of Baosteel Resources Co. Ltd., a subsidiary of Baosteel Group Corporation, one of the largest and most profitable steel enterprises in the world with an annual production capacity of 50 million tons per year. Baosteel Group Corporation ranked 276 in the Global Fortune 500 companies in 2010 with 2009 revenues of $28.6 billion.
Baosteel Resources International Co. Ltd's core business is investment, trading and logistic services in relation to iron ore, coal, non-ferrous metals, stainless steel, raw materials and scrap.
About Noront Resources Ltd.:
Noront holds mineral title to the largest area in the Ring of Fire, an emerging multi-metals district in the James Bay Lowlands of northern Ontario. With established NI-43-101 mineral resources that include the Eagle's Nest Ni-Cu-Pt and Pd deposit and the Blackbird chromite deposit, Noront is committed to social and environmental responsibility in developing our projects in the Ring of Fire.
-9.68% is the scorecard for the week...
For the week: 5.68%
NORONT FILES PROJECT DESCRIPTION FOR EAGLE'S NEST DEVELOPMENT
TORONTO, March 23 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to announce that pursuant to the Canadian Environmental Assessment Act, it has filed its Project Description for the Company's Eagle's Nest deposit, in the James Bay Lowlands, Ontario, with the Canadian Environmental Assessment Agency and the Province of Ontario's Ministry of Northern Development, Mines, and Forestry.
Noront's President and CEO, Wes Hanson, states: "The Project Description initiates the permitting process for development of the Eagle's Nest deposit. This is the first step of the permitting process and establishes a starting point for future consultation regarding infrastructure and mine development of the Eagle's Nest deposit with the local First Nation communities as well as local, provincial and federal government agencies."
Noront's Project Description proposes a planned 1.0 million tonne per annum underground mine and mill complex processing high grade nickel, copper, platinum and palladium ore from the Eagle's Nest deposit. Proposed surface disturbance at the mine site is limited to an airstrip, an accommodation, recreation and office complex, an explosive storage site, an underground portal and site roads connecting these facilities.
The mill complex will be established in underground excavations, taking advantage of the highly competent host rocks and minimizing surface disturbance at the site. Mill tailings will be stored underground as paste or cemented paste backfill in the voids created by mining of the nickel copper ore and competent waste rock which is planned to be used as construction material.
The Mine is estimated to produce approximately 150,000 tonnes of concentrate annually, which would be pumped via a buried pipeline, approximately 100 kilometres due west to a proposed site named Webequie Junction. This site is located approximately 20 kilometres south of the community of Webequie. A filtering and drying plant will be constructed at Webequie Junction to treat the concentrate, recycle the water back to the site and transfer the concentrate to truck for shipment to a proposed railhead near Savant Lake.
A diesel generating station will be established at Webequie Junction and power will be brought to site via a new power line. Both the power line and the buried concentrate slurry pipeline will follow a winter road that is proposed between the Eagle's Nest deposit and Webequie Junction. The winter road will limit the environmental footprint on the James Bay Lowlands.
At the end of the winter road from Eagle's Nest to Webequie Junction, an all season road is proposed to connect Webequie Junction to Highway #808 north east of Pickle Lake. This proposed route generally follows the existing Ministry of Natural Resources winter road corridor thereby limiting the environmental impact. This route will allow truck haulage of concentrate to the proposed rail facility.
During operation, mine consumables supply will utilize the same route, the proposed all season road to Webequie Junction followed by the winter road to site. People and perishable goods will be transported to site via air to the proposed airstrip.
Noront's senior management have reviewed this release including Mr. Paul Semple, P.Eng., Noront's Chief Operating Office and a Qualified Person under Canadian Securities Administrators guidelines.
About Noront: Noront Resources Ltd. is focused on its significant and multiple, high-grade nickel-copper-platinum-palladium, chromite, gold 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 and well financed drill program. All material information on Noront can be found on the Company's website at www.norontresources.com or at SEDAR at www.sedar.com
NORONT ANNOUNCES SIGNIFICANT RESOURCE INCREASE AT EAGLE'S NEST
TORONTO, March 4 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to provide an updated mineral resource estimate for the Eagle's Nest deposit, located at its McFaulds Lake Property in the James Bay Lowlands.
The NI 43-101 Resource estimate for Eagle's Nest deposit has significantly increased and is now estimated to contain:
Main Zone
Measured and Indicated resource of 11.0million tonnes grading 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au;
Inferred resource of 9.0 million tonnes grading 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au;
East Zone
Inferred resource of 1.6 million tonnes grading 0.31% Ni, 0.09% Cu, 0.12 gpt Pt and 0.45gpt Pd and 0.04 gpt Au;
Noront's President and CEO, Wes Hanson, states: "For a second consecutive year the Company has realized a resource increase at Eagle's Nest. Drilling at Eagle's Nest in 2010 was undertaken to improve the geological confidence of the mineral resource disclosed in March 2010 and to increase the inferred resource at depth. This updated resource estimate confirms that both objectives were successfully accomplished. The East Zone, approximately 200 metres east of Eagle's Nest, is indicative of the potential for future resource increases within the Eagle's Nest Complex. Our winter exploration continues as planned with two drills currently operating. One drill is testing targets at AT12, the second drill is testing targets at the Western Intrusive Complex. We are also expanding the ground based geophysical survey to assist in prioritizing previously identified airborne targets within the Eagle's Nest Complex."
The updated mineral resource is based on the exploration drilling completed during the 2010 field season, and updates the previous NI 43-101 compliant resource estimate for the Eagle's Nest Deposit announced on March 9, 2010.
During 2010, the Company drilled 20,200 metres at Eagle's Nest. The drilling was focused on improving the confidence and classification of previous resources estimates through in-fill drilling. In addition, the 2010 program also aimed at expanding the deposit at depth based on a drilling program. Despite challenges in the deep drilling program, the Company was successful in both objectives.
The extent of the mineralization now extends to a depth of approximately 1,650 metres from surface. The Eagle's Nest resource includes inferred resource along strike and down dip below 1,100 metres providing significant potential for further resource growth. It is anticipated that the nickel grade of the inferred resource will increase during further delineation drilling. Due to the depth of this inferred resource, further drilling on this target will be more effective from an advanced exploration program utilizing an underground exploration ramp.
Micon International Limited ("Micon") Qualified Persons responsible for the resource estimate are Charley Murahwi, P.Geo., MAusIMM and Alan J. San Martin, MAusIMM. The work was supervised by Richard Gowans, P.Eng. All are Qualified Persons under the definitions of NI 43-101. The current resource estimate for Eagle's Nest is summarized as:
Tonnes Ni % Cu % Pt g/t Pd g/t Au g/t
Main Zone
Measured 5,346,000 2.08 1.07 1.04 3.55 0.20
Indicated 5,643,000 1.50 0.89 0.94 3.27 0.20
Total M&I 11,000,000 1.78 0.98 0.99 3.41 0.20
Inferred 8,966,000 1.10 1.14 1.16 3.49 0.30
Tonnes Ni Cu Pt Pd
Total M&I 58% 38% 62% 20% 58%
Inferred 110% 62% 173% 202% 115%
My friends, for the week: -3%
NORONT RESUMES DRILLING AT MCFAULDS LAKE AND ANNOUNCES FINAL RESULTS FOR 2010 EXPLORATION
http://ca.finance.yahoo.com/news/NORONT-RESUMES-DRILLING-AT-cnw-3272539353.html?x=0
NORONT(NOT):TSX-V: Minister Gravelle(VIDEO): Ring of FIRE
http://www.tbnewswatch.com/video/20887/Ring-of-Fire
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Noront Resources is an exploration-stage resource company focused on its significant nickel-copper-platinum-palladium-chrome discovery at the Double Eagle project in the "Ring of Fire", an emerging metal district in the James Bay Lowlands of Ontario, Canada.
Ring of Fire - Multiple discoveries have been made since initial discovery of August 2007.
High grade near surface base and precious metal discovery that now has a NI 43-101 compliant resource estimate:
Near surface nickel-copper-pge target being delineated to depth in search of a sulphide rich feeder:
Drilling unexpectedly intersected massive chromite (Cr2O3) mineralization below the Eagle Two deposit:
Early drilling has identified massive chromite beds:
Drilling to date has encountered encouraging widths of visually observed mineralization 9.5 kilometers northeast of Eagle One:
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