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NORONT(NOT)-TSX-V:Minister Gravelle Updates Mining and Ring of Fire
Link to article below:
http://netnewsledger.com/?p=5019
Minister Gravelle Updates Mining and Ring of Fire
THUNDER BAY – Thunder Bay Superior North MPP, and Minister of Northern Development, Mines and Forestry, Michael Gravelle was the special guest of the Port Arthur Rotary Club in Thunder Bay today.
Minister Gravelle was updating the Rotarians on the Mining Act and the “Ring of Fire”.
Here is the text of the Minister’s Remarks:
It’s a privilege to join you once again. And, I am especially honoured to help launch Port Arthur Rotary’s New Year.
On that note, let me offer to each and every one of you my most heartfelt wishes for good health and good fortune in 2011.
Today, I will update you on two of Ontario’s major initiatives:
(1) modernizing the Mining Act; and
(2) the Ring of Fire development in the Far North of Ontario.
Let me start with a brief progress report on MAM — Mining Act Modernization.
As you know, the minerals sector is one of Ontario’s major economic drivers.
When we set out to modernize Ontario’s Mining Act, we wanted to strengthen our minerals sector through clear rules and regulations, as well as with streamlined administrative processes. Amending the Act will result in a more balanced approach to mineral exploration and development, and will help keep our mining industry competitive and responsive.
It will mean mineral activities that . . . .Respect surface rights holders, landowners, First Nations and Métis communities, and Aboriginal Treaty rights; and Respect the environment and foster economic development through infrastructure such as roads, rail and energy.
Just a few days ago, the first series of new regulations was launched.
As of January 1st:
Private landowners can now seek withdrawals of Crown mining rights on their property in Northern Ontario so that no mineral exploration will take place on the land; and
They can apply for exemptions from the Mining Land Tax under certain circumstances, such as when the land is not being used for mining.
Most new Mining Act regulations and policies will be phased in over the next two to three years, and are expected to introduce:
New protection for sites of Aboriginal cultural significance;
A paper staking system for claims in southern Ontario, allowing applications for claims to be made using a map; and
A graduated permitting system providing clearer rules about exploration activities.
I encourage you to visit the Mining Act section of our Ministry web site for details and regular updates.
Now I’d like to focus my remaining time on the Ring of Fire. I’m very excited to tell you more about this area in the Far North of Ontario.
As many of you probably know, this area has not only captured people’s attention in Ontario and all over Canada, but it has also garnered quite a bit of global interest.
For those who are not familiar with it, the “Ring of Fire” is located in a remote area situated in the James Bay Lowlands near McFaulds Lake. It’s home to one of the most promising mineral development opportunities in Ontario in more than a century.
The region of specific interest covers an area of more than 5,000 square kilometres, although most discoveries have been made in a much smaller area — roughly 12 to 20 square kilometres in size….
Discoveries that include chromite, nickel, copper, zinc, gold and kimberlite – with the most significant finds being chromite and nickel.
In fact, some estimate the potential for more than a hundred years of chromite production.
Chromite is used mainly as an alloy to produce stainless steel. It simply has no substitute, making it a very valuable resource.
Currently, 75 per cent of the world’s chromite is found in the eastern hemisphere. South Africa accounts for 38 per cent of production, and Kazakhstan and India are the next largest suppliers at 18 per cent each.
The Ring of Fire could become one of the world’s largest discoveries of chromite, and the only one in North America. In fact, the deposit could potentially supply all North American markets in the stainless steel and defence industries.
Both Cliffs Natural Resources, which is interested in bringing its chromite deposits into production, and Noront Resources, which is planning to develop its nickel discoveries are targeting to launch production in the Ring of Fire as early as 2015 or 2016.
It’s a very ambitious timeline, but we will be working diligently to support this goal.
As you can imagine, there are any number of aspects to this initiative that will require careful co-ordination and planning.
As companies move forward with their project planning, Ontario will play a key leadership role in co-ordinating discussions on infrastructure planning at a variety of different levels.
As more companies become actively engaged in exploration within the Ring of Fire, we’ll need to ensure that exploration infrastructure is developed in a manner that minimizes environmental impacts.
But, that still provides opportunities for local communities and service providers to participate during this early stage of development.
Ontario will also play a significant leadership role in facilitating regional infrastructure planning for roads, rail and, potentially, transmission.
I met recently with the key industry players in the Ring of Fire.
They’re currently in the process of developing project descriptions that will set out the economic “base case” for infrastructure and processing requirements on an individual company basis.
A range of alternatives will need to be considered against the “base case” scenarios.
As a result, a major component of our government’s role will be to coordinate these discussions and ensure that infrastructure planning and future development adequately meet industry, community and regional needs.
We are also focusing our efforts on putting forth the best possible business case to secure investment in ferrochrome processing facilities in Ontario. [A high percentage of chromite ore is converted toferrochrome, a key ingredient in the production of stainless steel.]
One reason why I believe we’ll be successful in setting up these processing facilities here in Ontario is our government’s new tax plan for jobs and growth – which includes significant business tax relief.
For example, reducing corporate income tax rates to 10 per cent over the next three years will dramatically improve our competitiveness on an international scale.
In fact, by 2012, Ontario’s combined federal provincial corporate income tax rate for manufacturing and processing will be 25 per cent – a full eight per cent better than the most competitive U.S. states, and more than 11.5 per cent better than the entire Great Lakes states.
As well, changes to electricity pricing for large industrial users will also help to create a competitive framework for investment, including changes to the global adjustment for large electricity users and Ontario’s Northern Industrial Energy Rebate program.
I can assure you that we will continue working diligently to ensure that Ontario benefits from value-added opportunities such as ferrochrome processing and a wide range of opportunities in the supply and services sector. The Ring of Fire is a tremendous economic opportunity for our province, and I want to make this opportunity a reality.
The Ring of Fire will also bring significant benefit to Aboriginal communities in the area.
Communities of the Matawa Tribal Council are among those most directly impacted by development of the Ring of Fire. Of the nine communities within the Tribal Council, five are remote, fly-in-only communities and four are road-access communities.
Remote First Nations communities such as Webequie and Marten Falls are among those most directly impacted by mining development in the Ring of Fire.
An even broader range of communities will potentially be impacted by development of regional infrastructure.
We have been working with Matawa Tribal Council communities for several years, both through the tribal council itself, and on an individual community basis.
Most recently, Ministry of Natural Resources Minister Linda Jeffery and I signed a Letter of Intent with Marten Falls and Webequie First Nations to work together on a series of initiatives that will help build community capacity and increase economic development opportunities associated with the Ring of Fire.
We continue to work closely with these communities. And, we look forward to signing Memoranda of Understanding with each one in the near future, to further solidify our working relationship.
We have also been directly engaged with the Federal Government through the Department of Indian and Northern Affairs Canada to ensure that capacity funding is directed to individual communities and the tribal council as appropriate.
In addition, Ontario has announced significant initiatives aimed at building capacity and community supports associated with the Ring of Fire.
In the 2010 provincial budget, we committed $45 million over a three year period toward a Northern Training Partnership Fund to help Aboriginal Peoples and northerners develop their skills in order to benefit from emerging economic development opportunities like the
Ring of Fire.
We have also committed $10 million in funding for First Nations communities that are working with Ontario on land-use planning. Currently, all Far North communities within the Ring of Fire area have initiated land-use planning initiatives at some level.
We remain committed to working with our Aboriginal partners to foster opportunities to benefit from and participate in economic development and business opportunities, and to develop the social supports and capacity needed for success.
I look forward to meeting with communities again in the coming months to grow our relationship and strengthen partnerships on this historic initiative.
Lastly, let me update you on the province’s new Ring of Fire Secretariat, another significant initiative announced in the last budget.
You know from news reports that we recently hired a Ring of Fire coordinator.
Dr. Christine Kaszycki, previously Assistant Deputy Minister of our Mines and Minerals Division, is now co-ordinator of the Ring of Fire. We are extremely fortunate to benefit from her broad experience and expertise.
As executive lead, Dr. Kaszycki is making certain that opportunities generated by the Ring of Fire benefit northern communities and private-sector businesses throughout the province. She is bringing together all the major players to ensure development not only moves forward, but does so in a fair, balanced way, representing a truly collaborative effort.
Dr. Kaszycki is currently building her Ring of Fire Secretariat team to support Ontario’s efforts to champion sound development of the area.
We are now in the process of hiring an Aboriginal Community and Stakeholder Relations Director to oversee the day-to-day activities of the Secretariat’s lead office, which will be located here in Thunder Bay – on the third floor of the government building at 435 St. James Street.
The director will provide leadership identifying Aboriginal partnership opportunities and delivering on consultation initiatives associated with the Ring of Fire.
We expect to complete the recruitment process and have a director in place in our Thunder Bay office by late February or early March.
I am also pleased to announce that we are in the process of setting up a Ring of Fire Advisory Council.
The role of the council will be to provide high-level advice and recommendations on a range of issues and opportunities as we move forward over the next few years.
While membership has not yet been finalized, I have put forward recommendations and we hope to make an announcement soon.
The Ring of Fire means tremendous opportunity for Ontario. Over the next five years or so, it could bring significant permanent employment opportunities that will last for generations to come.
Development in the Ring of Fire will undoubtedly help build the North’s economy and Ontario’s economy as a whole.
We intend to maximize the benefits of the Ring of Fire for all Ontarians.
I’ll conclude my remarks by reiterating that, in today’s highly competitive global market, a modernized Mining Act will undoubtedly help attract investment and economic opportunities to Ontario.
And, in terms of the Ring of Fire’s incredible potential, we’ve barely scratched the surface.
I look forward to playing a critical co-ordination and facilitation role as this exciting development unfolds.
Thank you once again for the kind invitation to join you today. On behalf of my local colleague MPP Bill Mauro, and all Ministry staff here in Thunder Bay, I hope 2011 keeps you healthy, happy and successful.
Luker... Thanks for sharing the thoughtful comments. NOT/NOSOF is a winner. The market will awaken to the story here - eventually - and those accumulating while being vigilant should be in a fantastic position to capitalize. All the best.
IMO you can not go wrong here. Any weakness in price is a great time to strengthen your position. This will be a $10.00 stock one day. It's not one to trade but to buy and hold. I would love to see it drop more because I continue to purchase.
I last purchased NOT shares ~2 weeks ago for $1.25 (10,000).Prior to that, my cost average was ~ $0.87. I thought NOT was a good deal for $1.25. Today we are two weeks closer to receiving results of the 13 regional exploration targets around Eagle's Nest, so I picked up another 5000 shares at $0.92. I cannot see much downside risk from here. I think that the risk is limited that 0 of the 13 targets will provide promising results.
Some think that the SP will drop to ~$0.80, which is the ~ break even price for those who recently took part in the recent flow through share purchase at $1.25, but this doesn't make sense to me since those have a 4 month hold period. Even if the SP dropped to that level, and we were subject to a hostile takeover, any premium would likely be at least 20% above that, so my shares bought today shouild at least break even.
As an aside, I had a very difficult time today deciding whether to add to my somewhat overweight position in NOT at todays bargain basement prices, versus adding to my much smaller position in ATAC Resources which I believe is also a steal at todays SP. I chose NOT as I think that ATC might still drop to the $4.50 range prior to the outstanding drill results being released over the next 3 weeks.
Cheers, Luker
Market is not happy with their progress.
They need to release a plan and a timeline for beginning production. Then and only then will this stock begin to move in the right direction. IMO
This is a perfect time to accumulate. You can steal this stock for .90's. If you were to buy 50,000 shares in a few years you would have 500,000.
That is wealth building.
Why has Noront taken such a drubbing in 2010???
Friday up big... after posting a new 52 week low.
Noront Identifies Precious Metals
http://www.newswire.ca/en/releases/archive/November2010/29/c8444.html
Noront is now a strong buy in my opinion and I will be increasing my holdings. Looking forward to the future.
News C O R R E C T I O N from Source -- Noront Resources Ltd./
In c7072 transmitted at 17:49e today, errors occurred in the first paragraph. The number of shares that Dundee Securities Corporation and the Underwriters have agreed to purchase should have read "4,800,000" and not "4,770,000". The price per Flow-Through Share should have read "$1.25" and not "$1.26". The total gross proceeds to Noront should have read "$6,000,000" and not "$6,010,200". The maximum number of additional Flow-Through Common Shares that the Underwriters have the option to purchase on the closing date should have read "2,400,000" and not "2,390,000". Full corrected copy follows:
Noront Announces $6.0 Million Private Placement
Funds to Advance McFauld's Lake Exploration Programs
TORONTO, Oct. 28 /CNW/ - Noront Resources Ltd. (Toronto, Ontario)(TSX-V:NOT) (the "Company") is pleased to announce that it has entered into a letter of engagement with Dundee Securities Corporation, under which Dundee Securities Corporation and a syndicate of underwriters (the "Underwriters") have agreed to purchase on a bought deal private placement basis 4,800,000 flow-through common shares (the "Flow-Through Shares") of Noront at a price of $1.25 per Flow-Through Share for total gross proceeds to Noront of $6,000,000. The Underwriters also have the option to purchase up to an additional 2,400,000 Flow-Through Common Shares on the closing date. A cash commission equal to 5.0% of the gross proceeds raised in the offering will be paid to the Underwriters.
Closing of the offering is scheduled to occur on or about November 26, 2010. All securities issued will be subject to a four month and one day hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
Gross proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities on Noront's McFauld's Lake project. These activities will be eligible for Canadian exploration expenses and renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2010.
These securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
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.
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 plan for 2010. All material information on Noront can be found on the Company's website at www.norontresources.com or at SEDAR at www.sedar.com For further information please contact Noront at (416) 367-1444, or visit Noront's website at: http://www.norontresources.com.
Wesley (Wes) Hanson
President & Chief Executive Officer
It's going to take more than drill results to get this stock moving again. We need a positive feasibility study and we need a move towards production. They have the goods let's start moving towards getting it to market.
The market reponds favorably!!! +3%
NORONT ANNOUNCES HIGH GRADE INFILL DRILLING RESULTS AT EAGLE'S NEST
TORONTO, Oct. 13 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to report the remaining assay results from the infill drilling program at the Eagle's Nest deposit at the Company's McFaulds Lake Project in the James Bay lowlands, Ontario.
HIGHLIGHTS:
-----------
The significant intersections from recent drilling include.
- NOT-10-091A intersected 56.5 metres averaging 2.28% Ni, 1.16% Cu,
1.27 gpt Pt and 5.08 gpt Pd
Including 5.1 metres averaging 7.2% Ni, 1.44% Cu, 0.48 gpt Pt and
15.00 gpt Pd
and 2.5 metres averaging 5.18% Ni, 2.46% Cu, 5.21 gpt Pt and 20.48
gpt Pd
- NOT-10-096 intersected 52.2 metres averaging 1.89% Ni, 1.26% Cu, 1.73
gpt Pt and 4.44 gpt Pd
The following table summarizes the infill drill results at Eagle's Nest.
-------------------------------------------------------------------------
HOLE ID FROM (m) TO INT. (m) Ni Cu Pt Pd Au
(m) % % gpt gpt gpt
-------------------------------------------------------------------------
NOT-10-091A 603.4 659.9 56.5 2.28 1.16 1.27 5.08 0.20
-------------------------------------------------------------------------
Including 619.3 624.4 5.1 7.20 1.44 0.48 15.00 0.04
-------------------------------------------------------------------------
Also including 650.8 653.3 2.5 5.18 2.46 5.21 20.48 1.23
-------------------------------------------------------------------------
NOT-10-092 751.6 780.5 28.9 0.60 0.37 0.67 2.08 0.12
-------------------------------------------------------------------------
Including 753.3 759.7 6.4 1.04 0.96 1.56 5.10 0.23
-------------------------------------------------------------------------
NOT-10-093 No significant assays
-------------------------------------------------------------------------
NOT-10-095 No significant assays
-------------------------------------------------------------------------
NOT-10-096 748.5 800.7 52.2 1.89 1.26 1.73 4.44 0.30
-------------------------------------------------------------------------
Including 783.0 785.9 2.9 2.11 1.01 0.29 3.59 1.92
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Previously
Reported
-------------------------------------------------------------------------
NOT-10-076-W1 531.0 574.5 43.5 3.24 1.19 0.45 4.18 0.10
-------------------------------------------------------------------------
NOT-10-081 412.0 569.0 157.0 2.64 1.57 1.72 4.15 0.32
-------------------------------------------------------------------------
NOT-10-083 564.9 652.3 87.4 1.93 0.82 1.80 3.17 0.12
-------------------------------------------------------------------------
NOT-10-084 660.4 749.6 89.2 1.75 0.87 0.80 3.29 0.20
-------------------------------------------------------------------------
NOT-10-087A 534.9 624.2 89.3 2.49 0.99 0.85 3.97 0.20
-------------------------------------------------------------------------
NOT-09-049W1 791.1 979.5 188.4 1.67 1.30 1.13 4.24 0.22
-------------------------------------------------------------------------
NOT-10-088 770.5 776.5 6.0 0.82 0.87 0.32 0.17 0.07
-------------------------------------------------------------------------
NOT-10-089 518.5 594.7 76.2 2.34 1.07 0.92 3.26 0.21
-------------------------------------------------------------------------
NOT-10-090 771.5 810.0 38.5 1.66 0.59 0.85 4.03 0.14
-------------------------------------------------------------------------
The mineralized intervals do not represent true widths, which cannot be determined at this time.
Noront's President and CEO, Wes Hanson, states: "The Company is pleased with the results. Nickel, copper, platinum and palladium grades were higher than expected in the majority of the holes completed. Most of the holes targeted the inferred resource and the Company believes that a large percentage of the inferred resource has been upgraded as a result of this drilling."
Holes where lower grades were reported were determined to be a result of several factors including:
- NOT-10-092 appears to have intersected the edge of the
mineralization,
- NOT-10-095 was a step out hole targeting a prospective body 100
metres south of Eagle's Nest,
- Borehole geophysics carried out on NOT-10-093 indicated the
mineralization is south of the hole.
- Hole locations are shown at
(http://norontresources.com/find/id/51/tz).
Drilling continues at the McFaulds Lake Project with two drills tasked towards the deep drilling at Eagle's Nest while another two drills test regional targets.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
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 2, certified reference material standards, 2 field and pulp duplicates also form part of the quality control program. It can be said with confidence that all assays are reported in this Press Release have passed the strict quality control guidelines as set out by Noront's Qualified Person.
All samples reported upon herein were completed by Activation Labs ("Actlabs)" of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digestion and by ICP analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. 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 23, 2010) available on the Company's website and at www.sedar.com.
Preparation of drilling results in this press release has been supervised by Noront's senior management including Jeremy Niemi, P.Geo. Vice President, Geology, who is a Qualified Person under Canadian Securities Administrators guidelines. The potential quantities and grades disclosed herein are conceptual in nature. At the current stage of exploration there is insufficient drilling to determine the extent of continuity of the mineralization required to define a mineral resource for all mineralization at the Eagle's Nest. Noront anticipates delivering an updated mineral resource in second half of 2010.
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 plan for 2010. All material information on Noront can be found on the Company's website at www.norontresources.com or at SEDAR at www.sedar.com.
Wesley (Wes) Hanson
President & Chief Executive Officer
Now I see 121 X 144??? 21600 Volume.
TDAmeritrade NOSOF.PK: 1.21 X 1.25 +.10
$1.44 ask with $1.02 bid? Is something happening we haven't heard news on yet?
FOR IMMEDIATE RELEASE: August 11, 2010
NORONT PROVIDES RESULTS AT MCFAULD’S LAKE PROJECT
http://www.norontresources.com/News/getDocument/notpr-2010.08.11.pdf/238
For the week, up +3%...
Noront Resources Announces Up to $15 Million Equity Financing
http://ih.advfn.com/p.php?pid=nmona&cb=1272113123&article=42441467&symbol=NOT
TORONTO, ONTARIO--(Marketwire - April 19, 2010) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Noront Resources Ltd. ("Noront", the "Company") (TSX VENTURE:NOT) is pleased to announce that it has entered into an agreement with Dundee Securities Corporation on behalf of itself and a syndicate of agents including Wellington West Capital Markets Inc. and Genuity Capital Markets (the "Agents") under which they have agreed to offer for sale, on a best efforts basis, flow-through common shares of Noront ("Flow-Through Shares") at a price of $1.83 per Flow-Through Share for aggregate gross proceeds of up to $15 million. All sales of Flow-Through Shares will be made on a private placement basis pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.
Wes Hanson, President and CEO stated, "Completion of this financing will give Noront the opportunity to continue exploring for nickel, copper, platinum and palladium using flow through dollars, while conserving hard dollars for other purposes including engineering studies aimed at reducing project risk. We expect that the flow through dollars raised in connection with this financing will be sufficient to allow us to complete our 2010 exploration program, which is focused on resource expansion at Eagle's Nest combined with exploration at AT-12 and other promising geophysical targets within our Ring of Fire landholdings."
In addition, Noront has granted the Agents an over-allotment option to sell an additional 15% of the Flow-Through Shares sold pursuant to the offering, at the issue price, exercisable at any time prior to 1 day before the Closing Date of the offering.
The gross proceeds from the sale of the Flow-Through Shares will be used for Canadian Exploration Expenses ("CEE"), with the Company to use best efforts to qualify such CEE as "flow-through mining expenditures", to fund ongoing exploration activities on the Company's McFauld's Lake project. Such CEE will be renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2010.
Closing is anticipated to occur on or about May 12, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Agents will be entitled to a cash commission equal to 5% of the gross proceeds of the offering, inclusive of the over-allotment option. Noront has also agreed to issue broker warrants to the Agents equal to 5% of the number of Flow-Through Shares sold under the offering, inclusive of the over-allotment option. Each broker warrant is exercisable to acquire one common share of the Company at the issue price for a period of 12 months following the Closing Date.
All securities issued pursuant to the offering will be subject to a four month hold period under Canadian securities laws.
Noront resumes exploration at McFaulds Lake, James Bay Lowlands
Press Release Source: Noront Resources Ltd. On Friday March 19, 2010, 10:17 am EDT
http://finance.yahoo.com/news/Noront-resumes-exploration-at-cnw-1752162967.html?x=0
<< Symbol: NOT:TSX-V Shares Outstanding: 167,852,109 Fully Diluted: 179,169,260 >>
TORONTO, March 19 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT - News) is pleased to announce that the logistics halt which, had been implemented at Koper Lake has ended, effective Friday, March 19 at 8:00 am. Noront will immediately begin the process of flying in fuel, drills and other material to Koper Lake with a view to resuming exploration as soon as possible.
Noront has long recognized that for development to proceed within the Ring of Fire, it will require the cooperation of not only government and industry but the local communities as well, as they will be most significantly impacted in terms of opportunities and development by future activities. While the denial of the use of the Koper Lake ice strip impacted Noront and its activities, Noront has always supported the local communities and believes they must be actively involved in the development of the Ring of Fire.
Noront's President and CEO, Wes Hanson, states: "First and foremost, we are grateful that Chief Moonias and Chief Wabasse have lifted the denial of service action at Koper Lake. We have begun to re-supply at Esker Camp with the intention of resuming our 2010 exploration program as soon as possible. Initially our exploration will focus on continuing to add resources at the Eagle's Nest and Blackbird deposits with additional exploration at AT-12. Time permitting we may also evaluate additional untested targets within our Ring of Fire land holdings to identify potential opportunities for resource growth." Mr. Hanson adds: "While the denial of service delayed our exploration plans, we expect that we will be able to complete our planned exploration program by the end of 2010."
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 plan for 2010. All material information on Noront can be found on the Company's website at http://www.norontresources.com/ or at SEDAR at http://www.sedar.com/
Wesley (Wes) Hanson President & Chief Executive Officer
Here is how that story concluded -
http://www.norontresources.com/News/getDocument/notpr-2009.12.14.pdf/205
Nov. 30, 2009 Noront Resources Announces a C$0.86 Per Share Final Offer to all Freewest Shareholders
http://www.norontresources.com/News/Release/191
2 consecutive lower highs...
Noront is coming back to life it seems, also I noticed a golden cross.
Looking much better off that bottom...
Noront Resources Intersects More Massive Chromite 21.5 Metres Averaging 41.58% Cr2O3
Toronto, Ontario, May 26, 2009.
Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) is pleased to announce assay results from twelve diamond drill-holes completed during in the latter part of the winter on the Blackbird chromite deposits, and provides an update on project progress.
HIGHLIGHTS
Hole NOT-09-1G130 intersects 21.5 metres averaging 41.58% Cr2O3, with Cr:Fe ratio of 2.13 within 30 metres of surface;
Hole NOT-09-1G104 intersects 25.1 metres averaging 36.82% Cr2O3, Cr:Fe ratio of 2.02 including massive chromite intersection 5.2 metres wide averaging 40.61% Cr2O3 with Cr:Fe ratio of 2.11;
Chrome resource delineation drilling nears completion, one drill re-assigned to test for nickel potential in vicinity of Eagle One;
Drilling continues on chrome, while testing for additional base metal and PGE potential.
Drilling Details:
Noront’s late winter exploration program continued through the spring breakup of late April and into May. As announced on April 28, 2009, the Company has employed two diamond drills on the Blackbird deposits since the beginning of January and had completed a total of 17,680.9 metres of drilling in 63 holes. Since this time, an additional 25 holes have been completed totaling an additional 5,570 metres, bringing the total drilling for 2009 on the chromite project to 87 holes and 18,354 metres. As stated earlier this year, the primary goal of this drilling campaign is to define a National Instrument 43 - 101 compliant resource for the Blackbird discoveries by completing sufficient drilling at an optimum drill hole spacing to provide both inferred and indicated resources depending on the density of sampling and the domain type (massive vs. disseminated chromite). Noront has nearly completed its planned drilling on the chromite project, well ahead of schedule and budget and expects to deliver its National Instrument 43-101 compliant report by the end of 2009. The company has recently reassigned one drill to test for downward continuations or extensions of the Eagle One Deposit.
Assay Results:
Since the last report of assays (April 28, 2009), Noront has received final assay data for twelve more of its chromite related holes. Assays for chromitite intersections in many other holes are pending, final results of which will be released as they become available. The following table provides assay highlights for the massive chromite intersections only for those holes where assays have been received since the last press release, and the chrome to iron ratio (Cr:Fe) is in excess of two to one (2:1) :
Hole Number from (m) to (m) int (m) Cr203% Cr% Fe% Cr:Fe
Notes: Drill intercepts are not true width intercepts; all measurements are in metres.
NOT-09-1G101 437.3 439.4 2.1 37.49 25.64 12.14 2.11
NOT-09-1G104 318.4 343.4 25.1 36.82 25.19 12.46 2.02
including 324.4 329.7 5.2 40.61 27.78 13.17 2.11
NOT-09-1G110 76.9 81.4 4.6 42.37 28.98 13.43 2.16
NOT-09-1G112 81.3 87.6 6.3 37.81 25.86 12.22 2.12
NOT-09-1G118 96.0 105.0 9.0 36.13 24.72 11.51 2.15
followed by 105.0 108.9 3.9 40.17 27.47 13.13 2.09
NOT-09-1G130 37.1 58.6 21.5 41.58 28.45 13.33 2.13
The intervals sampled and reported by Noront include both massive chromitite and zones of intercalated beds of chromitite and heavily disseminated chromite hosted by talc-altered dunite and peridotite. For a complete set of assayed intervals for all twelve holes (NOT-08-1G101, 102, 104, 109, 110, 112, 114, 117, 118, 119, 130 and 131) please proceed to Noront’s website by following the link. http://norontresources.com/find/id/10/jx Of special note, there are a number of intriguing (anomalous to perhaps economic grade) base metal and precious metal drill intersections listed in the table. Hole NOT-09-1G117 intersected 9 metres averaging 0.92% Ni, 0.67 g/t TPM, Hole NOT-09-1G119 intersected 1.8 metres averaging 1.33% Ni, 0.56 g/t TPM, and Hole NOT-09-1G130 intersected 1.3 metres averaging 1.27% Ni, 3.27 g/t TPM. These type of intersections have become commonplace within and around the chromite deposits, and will be receiving some additional drill attention to determine their significance in the economic evaluation of the Blackbird deposits.
Please follow the link to Noront’s website for locations of the aforementioned holes, as well as those recently drilled but not yet reported. http://norontresources.com/find/id/11/4y
Quality Assurance and Quality Control:
All holes drilled are systematically logged and then sampled. Samples are shipped regularly to Actlabs in Thunder Bay, Ontario for sample preparation and initial analysis (TD-ICP) following strict chain of custody procedures. Final chromite and iron analyses were done by instrumental neutron activation (INAA) at the Actlabs facility in Ancaster, Ontario. Neutron activation is a method in which samples are irradiated by neutrons, causing the analyte elements to become radioactive. Counting the radioactivity of each activated isotope in comparison to the activity of a reference material such as Cr wire allows the determination of element concentrations with no matrix effect. For more information on Actlabs analytical procedures please visit Actlabs website at: http://www.actlabs.com Under Noront's QA/QC program each batch of 35 samples includes one blank, two internationally certified reference materials (ICRM; henceforth referred to as standards), one quarter-sawn field duplicate, a coarse reject duplicate, and a pulp duplicate. These procedures are conducted in addition to Actlabs' standard practise of further inserting one Cr standard within each reactor bundle of 11 samples. The pass/fail criteria for the new Cr standard and for the standards inserted by Actlabs are the same as for the Cu, Ni, Au, Pd and Pt standards previously reported. In particular, if measured concentrations in standards differ from accepted values by more than two standard deviations of the method as determined by numerous INAA repeats on the standards at Actlabs, the entire batch fails and is re-analysed. The standard deviation for 30 repeat measurements of the ICRM SARM 9 by INAA at Actlabs was 1.2% Cr2O3, giving a coefficient of variation of 2.6% and therefore a nominal precision of 5.2% (taken as twice the standard deviation). Precision of pulp splits within reactor batches as determined by the Thompson-Howarth method is 1.7%; between reactor batches it is 5%, matching very closely the apparent precision of 5.2% from replicate analyses of standards. Duplicates and standards are also monitored over periods of months to detect and correct, if necessary, any drift bias or changes in precision that might appear through time. All QA/QC procedures and checks are carried out by Tracy Armstrong, PGeo, of P&E Mining Consultants Inc, who acts as the Qualified Person for Noront on matters pertaining to assays. Currently reported data were all obtained by INAA.
Additional quality control measures have been recently adopted for Cr and Fe including the blind insertion of a certified reference material SARM 8, purchased from Mintek in South Africa, and a change from INAA to fusion X-ray fluorescence (XRF) to analyse chromite samples. For fusion XRF assays the samples are melted with borate fluxes and quenched to a glass bead, which is then irradiated with X-rays. The secondary X-ray emissions are counted and used, with reference to several calibrants, to determine the whole rock composition including the analytes and all other major oxide components of the rock. The additional compositional data would be of interest to buyers of any potential ore from the Blackbird deposits. The results of these new assays are still pending.
This press release has been reviewed and approved for dissemination by Noront’s senior management including Chief Geologist Jim Mungall Ph.D., P.Geo., Exploration Manager Jim Atkinson M.Sc., P.Geo., and Chief Operating Officer John Harvey P.Eng. all being Qualified Persons under Canadian Securities guidelines.
For further information please contact the Investor Relations Department at (416) 238 7226, or visit Noront’s website at: http://www.norontresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS:
Paul A. Parisotto and Joseph A. Hamilton
Co-Chief Executive Officers
Up 27% today... nice!
Noront has a new website...
After exploding for Thanksgiving and Christmas, there is some healthy consolidation taking place at this time.
Basing now... maybe this is the right time to step in...
Noront is hard at work... from Agora -
http://agoracom.com/ir/Noront/messages/976277
Noront is awakening as shown by the previous postings from the month of June... They seem to standing on the verge of greatness in a sector that is in a megatrend... invest accordingly.
Noront Provides Corporate Update
Friday June 6, 5:19 pm ET
http://biz.yahoo.com/ccn/080606/200806060467022001.html?.v=1
Noront Adds to Management Team
Tuesday June 10, 8:30 am ET
http://biz.yahoo.com/ccn/080610/200806100467373001.html?.v=1
TSX Venture Ranks Noront Resources Ltd. as Top Mining Company in 2008 TSX Venture 50
Tuesday June 24, 9:00 am ET
http://biz.yahoo.com/ccn/080624/200806240470375001.html?.v=1
5.80 :(((((((((((
52 week high today again :)))))))))))))
6.66...........amazing
Didn't happen on friday :)
They are calling for a much higher market on NOT
u still in............kwg and not
Met some guys with big $$$$$$$$ 2night............buyyyyyyyyyyyyyyy NOT
What price are u in @?
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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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