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Thursday, January 20, 2011

Noront Update

NORONT RESUMES DRILLING AT MCFAULDS LAKE AND ANNOUNCES FINAL RESULTS FOR 2010 EXPLORATION

TORONTO, Jan. 20 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to report all remaining assay results from the 2010 exploration program, including results from holes drilled to collect metallurgical samples, at the Company's McFaulds Lake Project in the James Bay Lowlands, Ontario. The Company is also pleased to announce that exploration has resumed for the winter season.
Highlights - Metallurgical - geotechnical holes at Eagle's Nest:
  • NOT-10-GT04 intersected 206.3 meters of 4.6% Ni, 2.1% Cu, 1.87 gpt Pt and 7.76 gpt Pd
  • NOT-10-GT01 intersected 48.3 meters of 1.9% Ni, 1.0% Cu, 1.03 gpt Pt and 3.59 gpt Pd
Highlights - Regional Drilling 2010:
  • NOT-10-1G186 intersected 1.2 meters of 0.6% Ni, 0.2% Cu, 0.08 gpt Pt and 0.76 gpt Pd
  • NOT-10-1G195 intersected 7.8 meters of 0.4% Ni, 0.1% Cu, 0.08 gpt Pt and 0.41 gpt Pd
Noront's President and CEO, Wes Hanson, notes, "Hole NOT-10-GT04, targeted to intersect a broad interval of massive sulphide mineralization at Eagle's Nest for metallurgical sampling, returned one of the best intervals to date confirming the predictive accuracy of resource model. The regional drilling program significantly expanded the limits of the ultramafic rocks that host nickel, copper sulphide mineralization. This expanded footprint has generated additional target areas prospective for nickel, copper sulphides within Noront's large land area." Mr. Hanson adds: "The Company has resumed exploration for the winter season and our focus continues to be the discovery of additional nickel, copper sulphide resources. Initial drilling will focus on the Western and Thunderbird intrusive complexes while ground geophysical surveys are completed at AT-12. On completion of the geophysics, drilling of the AT-12 Complex will commence. We are looking forward to drilling additional targets at AT-12 where the Company has intersected the best nickel, copper sulphides grades outside of Eagle's Nest."
2011 Winter Exploration Program:
The 2011 winter program is fully funded and consists of ground based geophysical surveys and diamond drilling. The focus is on the discovery of additional nickel, copper sulphide mineralization similar to or larger than the Eagle's Nest discovery.
The Company believes additional nickel, copper sulphide mineralization may be buried and therefore does not provide a strong response using airborne geophysics. As a result, ground geophysical surveys of the AT-12 Complex are planned to assist in identifying drill targets.
A total of 10,000 metres of drilling is planned during the winter program. Drilling will utilize two drill rigs for the duration of the program. One drill is currently testing strong borehole geophysical targets within the Western Complex approximately 3 to 4 kilometres southwest of Eagle's Nest. Once completed, this drill will move to the Eagle's Nest Complex to test borehole and surface electromagnetic targets identified in 2010. These targets have the potential to host nickel, copper sulphide mineralization that could increase the mineral resources for the project.
The second drill is currently testing strong geophysical targets at the Thunderbird Complex, specifically to the west of and the extension of the Thunderbird iron, titanium, vanadium ("Fe-Ti-V") discovery. As with AT-12, access to this area in the summer months is difficult. The onset of winter conditions allows the Company to drill at Thunderbird at a significantly reduced cost.
Regional magnetic surveys indicate that the Thunderbird Complex has a 7.0 kilometre strike length. Drilling to date has intersected elevated Fe-Ti-V mineralization over substantial thickness along a 1.0 kilometre strike length. Iron occurs primarily as magnetite that may be amenable to magnetic separation to produce a quality iron concentrate. The Company plans to drill three to five holes to gain a better understanding of the Thunderbird mineralization.
The following Table summarizes the results (previously reported) at Thunderbird.
Thunderbird Drill Results (previously reported April 30, 2009 and July 29, 2009)

HOLE ID FROM
(m)
TO
(m)
INT.
(m)
V2O5
%
TiO2
%
Fe3O4 %
NOT-09-2G21 132.55 310.58 178.03 0.36 2.77 24.72
and 397.2 496.84 99.64 0.36 2.66 23.58
NOT-09-2G24 64.73 229.59 164.86 0.36 2.79 24.63
and 319.91 433.56 113.65 0.33 2.65 23.2
NOT-09-2G25 75.8 317.21 241.41 0.37 3.07 25.85

The mineralized intervals above do not represent true widths, which cannot be determined at this time.
At AT-12, the Company has initiated deep penetrating surface geophysical surveys that are designed to identify highly conductive mineralization to depths approaching 600 metres. This will be the first time such technology has been utilized by Noront in the Ring of Fire.  The objective of the ground based geophysics is to identify potentially buried nickel, copper sulphide mineralization at AT-12.
The Company's geologists and advisors believe that AT-12 is part of a feeder system that is geologically similar to the Eagle's Nest discovery. Previous drilling has intersected significant nickel, copper sulphide mineralization at AT-12. Considering the size and extent of the chromite discoveries to the south of AT-12, the Company believes that the AT-12 feeder system could potentially be much larger than the feeder system at Eagle's Nest. (http://norontresources.com/find/id/55/Qp).
Metallurgical and Geotechnical Drilling Program:
The Company completed a five-hole drill program to acquire geotechnical data and to collect representative samples for initial metallurgical testing of the Eagle's Nest deposit. Hole NOT-10-GT04 was targeted to intersect massive sulphide mineralization over a broad interval length. This hole successfully intersected over 200 metres of massive sulphide mineralization as planned, confirming the predictive accuracy of the current resource model for Eagle's Nest.
With the exception of NOT-10-GT02, samples collected from the drill holes were split with half of the core sent for assay and the other half used to generate metallurgical samples for future testing. In the case of NOT-10-GT02 the core was not split and the entire mineralized interval was used for metallurgical samples. Therefore, no assay data is available. Hole NOT-10-GT02 did intersect nickel, copper sulphide mineralization as planned. (http://norontresources.com/find/id/56/qD)  (http://norontresources.com/find/id/57/d2)
Metallurgical samples have been received at SGS Lakefield labs in Peterborough, Ontario. The metallurgical test work is currently underway with results anticipated in the first quarter of 2011.
The following Table summarizes the results of all holes completed for the metallurgical and geotechnical field program. All of the holes drilled for metallurgical and geotechnical purposes are located within or near the Eagle's Nest nickel, copper, platinum and palladium discovery.

HOLE ID FROM
(m)
TO
(m)
INT.
(m)
Ni % Cu % Pt gpt Pd gpt Au
gpt
                 
NOT-10-GT01 147.2 195.5 48.3 1.88 0.96 1.03 3.59 0.12
NOT-10-GT02 Hole not sampled, whole core used to form metallurgical composite samples
NOT-10-GT03 Excessive deviation, restarted as NOT-10-GT03A
NOT-10-GT03A 633.8 701.5 67.7 1.57 0.88 1.04 2.90 0.31
NOT-10-GT04 47.0 253.3 206.3 4.58 2.10 1.87 7.76 0.19
NOT-10-GT05 117.4 138.5 21.1 2.14 2.02 2.42 4.51 0.30

The mineralized intervals above do not represent true widths, which cannot be determined at this time.
2010 Regional Exploration:
Regional drilling in the fall of 2010 increased the lateral extent of the ultramafic host rocks to the north and west of Eagle's Nest, providing an expanded footprint for future exploration. At the Western Complex, west of Eagle's Nest, drilling encountered narrow zones of disseminated sulphide mineralization, indicating potential for larger zones.(http://norontresources.com/find/id/58/58).
The following table presents the complete results from the regional exploration drill program from the fall 2010 program.

HOLE ID FROM
(m)
TO
(m)
INT.
(m)
Ni % Cu % Pt gpt Pd gpt Au
gpt
                 
NOT-10-099 No significant assays
NOT-10-1G186 358.7 359.9 1.2 0.62 0.19 0.08 0.76 0.04
NOT-10-1G187 100.6 100.7 0.1 0.00 1.15 0.01 0.01 0.01
NOT-10-1G188 No significant assays  
NOT-10-1G189 No significant assays  
NOT-10-1G190 672 674 2.0 0.0 0.0 0.0 0.0 0.66
NOT-10-1G191 566.6 567.0 0.4 0.59 0.11 0.11 0.24 0.01
NOT-10-1G192 318.1 318.4 0.3 0.63 0.17 0.54 1.54 0.07
NOT-10-1G193 No significant assays
NOT-10-1G194 242.1 242.5 0.4 0.00 0.70 0.00 0.00 0.25
Also 251.3 251.5 0.2 0.02 1.00 0.00 0.01 0.45
NOT-10-1G195 72.2 80.0 7.8 0.36 0.09 0.08 0.41 0.06
NOT-10-1G196 No significant assays
NOT-10-1G197 No significant assays

The mineralized intervals do not represent true widths, which cannot be determined at this time.
The Company advises that no further assay results are outstanding at this time.
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 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 http://www.sedar.com/.
The preparation of 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.
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 largest 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 2011. 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

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