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No surprise there.
Good luck with the bottle hunting.
Sounds like you're in a funk.
You got 4444 John!
Throw a ball and win a prize!
Going to stick with Sherritt from now on are you?
Its a big country out there.
:-{0>
Very nice. Unfortunately I was up north today so I missed the action. Lots more news to come though.
Noront drills 149.5 m of 2.4% Ni at Eagle One
2009-08-05 16:35 ET - News Release
Mr. Wesley Hanson reports
NORONT RESOURCES IDENTIFIES TWO NEW LENSES OF RESOURCE GRADE MINERALIZATION AT EAGLE ONE, MCFAULD'S LAKE
Noront Resources Ltd. has provided complete assay results from recently drilled holes from the company's Eagle One deposit, including hole NOT-09-49, at its McFauld's Lake project located in the James Bay Lowlands within the Ring of Fire mineral district.
Highlights
Hole NOT-09-49 intersected two lenses of mixed disseminated to massive sulphides under the current Eagle One deposit, now referred to as Eagle 1A.
Eagle 1B (the first lens) located vertically under Eagle 1A returned:
178.8 metres averaging 1.2 per cent Ni, 0.5 per cent Cu, 0.9 gram per tonne (g/t) Pt, 2.0 g/t Pd from 306.7 metres to 485.5 metres, including:
2.0 metres averaging 2.5 per cent Ni, 2.0 per cent Cu, 0.4 g/t Pt, 4.7 g/t Pd;
4.7 metres averaging 5.3 per cent Ni, 1.3 per cent Cu, 0.6 g/t Pt, 5.3 g/t Pd.
Eagle 1C (the second lens), also located vertically under Eagle 1A and directly under Eagle 1B, returned:
149.5 metres averaging 2.4 per cent Ni, 1.1 per cent Cu, 1.0 g/t Pt, 5.1 g/t Pd from 796.2 metres to 945.7 metres including:
23.7 metres averaging 5.2 per cent Ni, 1.0 per cent Cu, 0.2 g/t Pt, 7.9 g/t Pd;
21.0 metres averaging 2.5 per cent Ni, 1.0 per cent Cu, 0.4 g/t Pt, 5.3 g/t Pd.
As described in Stockwatch on June 29, 2009, hole NOT-09-49 intersected two separate lenses of mixed disseminated and massive sulphide mineralization located vertically below the previously interpreted limits of the Eagle One deposit. It is management's opinion that the following assay results confirm that both Eagle 1B and 1C have the potential to increase Noront's nickel, copper and platinum group element resource base at the McFauld's Lake project in the Ring of Fire. In October, 2008, P&E Mining Consultants estimated a combined indicated and inferred resource for the Eagle One (Eagle 1A) lens of 2.9 million tonnes averaging 2.1 per cent Ni, 1.2 per cent Cu, 1.2 g/t Pt, 4.1 g/t Pd and 4.0 g/t Ag. For a detailed summary of the P&E resource estimate please refer to Noront's website.
Noront's president and chief executive officer Wesley Hanson, PGeo, states: "Analytical results are consistent with the existing Eagle One NI 43-101 resource estimate. More importantly we are pleased to note that the contained platinum and palladium grades suggest that both Eagle 1B and 1C were likely emplaced as part of a single mineralizing event, supporting the geological model proposed by our exploration team."
Exploration update
At present, three drills are currently active, testing the extent of the newly discovered mineralization, which extends vertically below the original Eagle One deposit, and located entirely within Noront's existing land holdings. A total of five holes, NOT-09-45 through NOT-09-49, have been completed and assayed to date.
Hole No. NOT-09-45 through NOT-09-48 were all targeted below the interpreted bottom of the Eagle One discovery.
Holes 45 and 47 intersected the upper portion of the Eagle 1B lens.
Hole NOT-09-49, initially planned as a platform for borehole geophysical surveying, was a vertical hole targeted to trace the interpreted, vertical dipping conduit system that emplaced the original Eagle One discovery. The concept was to drill as close as possible to the conduit so that down-hole geophysics could be utilized to identify other potential lenses of nickel, copper sulphides. This was successively accomplished as the hole crossed in and out of the main footwall granodiorite-periodotite conduit contact no less than five times before reaching its final depth of 1,004.1 metres. In the process, the hole cut two distinct lenses of mixed disseminated to massive sulphides.
The table summarizes the results of holes NOT-09-45 through NOT-09-49.
EAGLE 1B AND EAGLE 1C ASSAY RESULTS
From To Int. Mineralization Ni Cu Pt Pd Au Ag
Hole ID m m m type % % g/t g/t g/t g/t
NOT-09-45 Eagle 1B lens
445.68 460.30 14.62 Overall 0.77 0.27 0.43 1.30 0.06 0.52
Incl. 445.68 446.83 1.15 Disseminated 0.39 0.18 0.48 0.88 0.03 0.23
and 446.83 447.19 0.36 Massive 3.27 2.28 1.00 7.18 0.21 3.04
and 447.19 454.38 7.19 Disseminated 0.42 0.09 0.29 0.68 0.03 0.07
and 454.38 460.30 5.92 Net textured 1.12 0.38 0.56 1.77 0.09 0.98
NOT-09-46 No significant assays
NOT-09-47 Eagle 1B lens
362.80 364.95 2.15 Massive 6.11 1.56 1.71 5.98 0.10 3.76
NOT-09-48 No significant assays
NOT-09-49 Eagle 1B lens
269.21 270.98 1.77 Massive 5.16 3.04 0.69 6.45 0.07 8.10
270.98 306.68 35.70 Disseminated 0.48 0.13 0.33 1.03 0.02 0.25
306.68 485.52 178.84 Overall 1.19 0.53 0.87 2.01 0.10 1.32
Incl. 306.68 308.68 2.00 Massive 2.53 1.97 0.39 4.68 0.11 4.94
and 308.68 312.84 4.16 Disseminated 0.63 1.22 3.89 1.70 0.05 2.31
and 312.84 344.56 31.72 Net textured 1.12 0.66 1.26 2.12 0.07 1.79
and 344.56 404.15 59.59 Disseminated 0.57 0.26 0.73 1.23 0.15 0.55
and 404.15 464.69 60.54 Net textured 1.39 0.58 0.66 2.20 0.08 1.53
and 464.69 469.34 4.65 Semi-massive 5.29 1.29 0.59 5.29 0.16 2.77
and 469.34 485.52 16.18 Net textured 1.70 0.55 0.77 2.72 0.07 1.34
510.43 511.75 1.32 Semi-massive 1.05 1.15 5.04 3.14 0.10 4.05
NOT-09-49 Eagle 1C lens
796.20 945.67 149.47 Overall 2.43 1.09 1.04 5.10 0.58 4.32
Incl. 796.20 852.88 56.68 Net textured 2.11 0.63 1.17 4.36 0.10 2.92
and 852.88 866.41 13.53 Semi-massive 1.66 3.12 2.13 5.40 0.58 8.99
and 866.41 893.14 26.73 Net textured 1.54 1.28 1.18 4.69 2.53 5.18
and 893.14 916.82 23.68 Massive 5.18 1.04 0.19 7.92 0.10 5.18
and 916.82 937.82 21.00 Net textured 2.52 0.97 0.42 5.34 0.08 3.66
and 937.82 945.67 7.85 Net textured 0.66 0.68 1.91 2.16 0.16 2.55
None of the intersections reported here represent true widths, which cannot be determined at this time. Hole NOT-09-49 was orientated parallel to the vertical plunge of the Eagle One conduit and as such it is assumed the vertical depth extent of the new Eagle 1B and 1C lenses will each attain a minimum 200 metres.
Current drilling continuing at Eagle One consists of a series of angle holes targeting the Eagle 1B and 1C lenses to further delineate their dimensions.
To view a plan and cross-section of the new drill holes as well as holes being currently drilled below Eagle One, please refer to Noront's website. Results on new holes are pending and will be released when available.
Currently, all drilling at site is utilizing directional drilling tools and all completed holes are surveyed using down-hole electromagnetics (EM). The down-hole electromagnetic surveys will assist in defining the Eagle 1B and 1C lenses in advance of follow-up drilling.
John Harvey, chief operating officer, notes: "The discovery of the new base metal mineralization beneath Eagle One has greatly stimulated our exploration efforts and we look forward to increasing the Eagle 1 resource estimate. All future drilling will focus on defining the new lenses of nickel, copper and platinum group elements along the vertical trend below Eagle 1A."
Independent quality control and analytical protocol
A thorough quality control program has been in effect for the Eagle One project which includes grouping samples into batches of 35 into which are added two certified reference material standards, two field and pulp duplicates also form part of the quality control program. Approximately 10 per cent of the samples are sent to a secondary lab as a monitor on the principal lab. 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 independent qualified person (IQP).
All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ont. The samples submitted to Actlabs were analyzed for multielements, including Ni and Cu using a four-acid digestion followed 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 three-acid digest with an ICP analysis. For more information on assay methodology please visit the Activation Laboratories Ltd. website.
Drill results in this press release have been approved by John Harvey, PEng, chief operating officer, and director of exploration Jim Atkinson, PGeo, both qualified persons under Canadian securities guidelines.
Quality assurance and quality control
All holes drilled are systematically logged and then sampled. Samples are shipped regularly to Actlabs in Thunder Bay, Ont., for sample preparation and initial analysis (TD-ICP) following strict chain of custody procedures. Whole rock assay including V(2)O5, TiO(2), and Fe(2)O(3) is performed at Actlabs by fusion X-ray fluorescence analysis (fusion XRF). 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. For more information on Actlabs analytical procedures please visit the Actlabs website. 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. The pass/fail criteria for the new V standard are the same as for the Cr, 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 XRF repeats on the standards at Actlabs, the entire batch fails and is reanalyzed. Duplicates and standards will be monitored 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.
We seek Safe Harbor.
Thats a different one. I was referring to ROX.V
Hey, thanks. I hope somebody made some money on it.
And EDG for .20
Bought a few EVG 1.48/1.49
Thanks, too bad I couldn't take advantage of it.
Is tomorrow the day GAP breaks out of its current range? Stay tuned.
ROX might be worth a look for tomorrow.
289500 on the bid between .31 and .32
Time to roll.
And again, same house.
14:28:10 V 0.33 - 200,000 74 GMP 74 GMP
Hey Kastel
Getting any insights from reading the tape on GAP ?
What do you think about the action on GAP? There should be news this week.
GAP
Who is that? BBS?
Ice berger on GAP at .33 it seems
Good call on EC yesterday.
Its a hummer!!!!!!!
Brydon sold 500k
Looks like I should have reloaded EDG at .23
Not a big deal. Lots of winners out there.
Dismissed it is what you did. Your loss, not mine.
Well thanks to Fringe cause I was riding some real cheapies that I would have sold long before today if it hadn't been for all the digging he did.
Looks like EDG going to print .30
Great call wolf!
Big cross on GAP
09:30:05 V 0.33 - 457,500 74 GMP 74 GMP
GAPPER going to be a hotty again today.
Jeez John, I thought you weren't into the torque plays.
I thought there were Snowbirds in Camrose every day.
Nice finish on EDG for sure.
What was the name of that other drill bit play you were following up in the Yukon near Keno Hill?
Good to hear.... Looking good right now.
GAPPER getting ready here.... Chug-chug-chug