Noront Resources Ltd.: EAGLE TWO HAS LANDED
Shear- Hosted Massive Sulphides Encountered
2 Kilometers Southwest of Eagle One
TORONTO, ONTARIO--Feb. 25, 2008 - Noront Resources Ltd. is pleased to announce the discovery of a second massive sulphide occurrence located 2 kilometers to the southwest of its Eagle One magmatic massive sulphide occurrence within Noront's 100% owned Double Eagle Project in the McFauld's Lake Area of northeastern Ontario.
"We are pleased to announce that semi-massive to massive sulphide mineralization has been encountered about 2 kilometers to the southwest of Eagle One, in what is believed to be a peridotite filled conduit of the Eagle One magmatic massive sulphide occurrence. Our new drill objectives are to focus on this new occurrence and also to complete drill testing several other high-priority geophysical targets within the Double Eagle project area," states Richard Nemis, President and CEO of Noront.
HIGHLIGHTS
- Nickel-copper massive sulphides in a sheared deformation zone hosted by peridotite have been encountered in four holes, located 2 kilometers to the southwest of Eagle One while testing airborne and ground confirmed geophysical anomalies.
EAGLE TWO
This new massive sulphide discovery occurs at the Aerotem Anomaly #2, located approximately 2 kilometers to the southwest of the Eagle One magmatic massive sulphide occurrence. Four holes have intersected massive to semi-massive sulphide mineralization. The rock units encountered at Eagle Two consist of strongly altered peridotite hosting a multi-phased deformation zone containing veins of sulphides ranging from a few centimeters wide to over 3 meters wide. The deformation zone varies in length from 3 meters to 26 meters in the holes drilled to date. The sulphide veins encountered in each hole are composed of pyrrhotite, magnetite, chalcopyrite and pentlandite with variable amounts of talc. Large crystals of pentlandite up to a few millimeters in size are evident in the most recent drill hole (NOT-08-1G8). A detailed account of this new discovery will be press released shortly.
Hole NOT-08-1G2 was drilled at local grid coordinates 32+17E, 5+73N with an azimuth of 155 degrees and initial dip of -50 degrees. After 10.9 meters of overburden and limestone the hole entered a strongly altered peridotite. A mineralized deformation zone was encountered over a length of 29 meters between 39 and 68 meters downhole, comprising a 3 meter section of massive sulphide-magnetite breccia and units of sulphide breccia with widths ranging from a few centimeters to a maximum of 1 meter in length throughout the entire zone. The hole was terminated at 239 meters in an altered peridotite.
Hole NOT-08-1G3 was drilled from the same set-up as 1G2 and the same azimuth but drilled at -65 degrees. After 11 meters of overburden and limestone the hole entered a strongly altered peridotite. The deformation zone was encountered between 43.3 and 46.7 meters (3.4 meters of core length) containing massive pyrrhotite-magnetite with chalcopyrite. Below the massive sulfide intersection, hole 1G3 contained two massive chromitite layers, the upper one being 5 meters thick starting at 123 meters to 128 meters, the lower one being three meters thick, terminating at about 143.7 meters core length.
Hole NOT-08-1G6 was drilled at local coordinates 32+50E, 7+10N at an initial azimuth of 155 degrees and an initial dip of -50 degrees. After 12.1 meters of overburden, the hole entered granodiorite until a depth of 81.5 meters. Following granodiorite, the hole entered strongly altered peridotite until encountering a deformation zone between 113.2 and 131 meters (17.8 meters of core length). Similar mineralization as in holes 1G2 and 1G3 was encountered, composed of sulphide breccia over intervals of a few centimeters up to 0.8 meters. These veins host semi-massive pyrrhotite, chalcopyrite and magnetite, and also showed a positive reaction to the DMG nickel test as in the previous holes. Chromitite seams and chromitite domains were encountered in this hole between 248 and 257 meters (9 meters of core length). A thin shear hosted sulphide zone was intersected from 257.5 to 258.2 meters downhole. This hole continued through a series of altered peridotite, non-altered peridotite and serpentinized dunite until its end at 348 meters.
Hole NOT-08-1G8 is being drilled at the same collar location as hole 1G6, with the same azimuth, however the initial dip was increased to -65 degrees. This hole is still underway, and has encountered massive sulphide mineralization between 123 and 130 meters downhole (7 meters of core length) The tenor of mineralization is much stronger in this intersection, this hole continues to test for a down dip extension of the aforementioned chromitite and sulphide zones encountered in holes 1G6 and 1G3. The drill result intersections presented above are not true width. True width determination will be referred to once the resource estimate is completed.
