Second Chrome Occurrence Encountered
(Blackbird Two)
TORONTO, ONTARIO - (July 30, 2008) - Noront Resources Ltd.
("Noront") (TSX VENTURE: NOT) wishes to present
the following update on its chromium exploration activities in the McFaulds
Lake area of northern Ontario in the James Bay Lowlands. One drill at the
AT2 site continues to test the Blackbird One and Eagle Two occurrences at
approximately 50 meter centers to further define the extent of these
targets. Meanwhile, the second drill, previously assigned to AT2 has
completed the first hole on a gravity anomaly located approximately 800
meters to the east of Blackbird One and south of the Eagle One magmatic
massive sulphide ("MMS") deposit. Noront is pleased to further
announce that bands of massive chromite on this new anomaly have been
encountered in two drill holes; assays are pending.
EXPLORATION HIGHLIGHTS
1) Assay results received from four holes (see Table 1) from Blackbird One
returned wide widths of significant grade chromite mineralization the best
of which averaged 47.8 meters from 365.2 meters onward, averaging 51.1%
Cr203 containing 34.9% Cr and 17.1% Fe.
2) New drilling 800 meters to the east of Blackbird One has encountered
bands of visual, massive chromite mineralization in hole NOT-08-1G57 and
NOT-08-1G59.
Noront has a system of naming new mineral occurrences when they reach a
certain level of continuity, size and tenure of mineralization.. Nickel,
copper occurrences are assigned the name "Eagle". Chromite
deposits are assigned the name "Blackbird". The number assigned to
each occurrence type is indicative of the order of discovery.
Richard Nemis, President and CEO of Noront states:
"Our successful exploration efforts in the Ring of Fire, have brought
Noront forward as one of the most successful exploration groups in North
America. We are currently evaluating several mineral occurrences in the
area including: The Eagle One Nickel-copper-platinum and palladium deposit
that has indicated an encouraging resource warranting further assessment..
The Eagle Two Nickel-copper shear hosted sulphide ("SHS")
occurrence has been drill traced beyond 700 meters vertical depth and the
Blackbird One chrome occurrence which is considered to be a separate
deposit to the Eagle Two deposit is being drill delineated as a prelude to
resource definition.
Our exploration team advises that massive chrome has been encountered
nearly one kilometer away from Blackbird One. Drilling at this new anomaly,
which we have designated as "Blackbird Two" is proceeding and
will likely become a delineation drilling program. Our results, together
with the recently announced base metal discovery by WSR and Metalex to the
north, attest to the vast potential of the Ring of Fire. Noront is working
with the various First Nation communities in the area, to employ their
people and generate initiatives and business opportunities that have arisen
from the increased exploration activity in the area. These projects if
ultimately developed, could have a significant positive effect on the
economy in Northern Ontario."
The drilling program on our Double Eagle Project continues, with two drills
continuing to explore the AT2 airborne anomaly and its possible eastern
extension. As announced earlier (May 27, 2008) at AT2, a layered chromite
("LC") occurrence in a peridotite intrusive geological environment
was encountered. This occurrence is now referred to as "Blackbird
One" so as to distinguish this site from the nearby Eagle Two
"SHS" occurrence. While the "LC" mineralization
parallels the "SHS" occurrence approximately 50 meters lower in
depth, stratigraphically, it overlies the "SHS" mineralization
believed to have been formed earlier during the progressive accumulation of
the peridotite sill host rock that is now lying overturned.
BLACKBIRD ONE OCCURRENCE (AT2 Anomaly)
The "LC" zone at Blackbird One is best described as a complex of
varying thicknesses of massive chromite bearing layers within the
Peridotite Sill. These chromitite layers dip steeply at approximately 60
degrees to the west paralleling the contact between the Peridotite Sill and
the adjacent Granodiorite. The holes containing significant Chromite
mineralization reported to date have delineated a chromite body along a
strike length of 125 meters, down to a vertical depth of 500 meters over
wide core widths with favorable high Cr/Fe ratios. Blackbird One is open
along strike to the north.
Due to the limited number of drill hole and assay results, true widths are
not yet determined for the chromite zones at Blackbird One.
Assays are pending for the drill holes recently summarized in Table 2 and
Table 3 below and recently completed at the AT2 Anomaly site from the
Blackbird One occurrence. Notwithstanding the foregoing, visual
observations are estimates only and pending assay results may not confirm
visual observations in whole or in part.
Blackbird Two (Gravity Anomaly)
This new chromite occurrence resulted from the drill testing of a gravity
anomaly extending eastwards from the Blackbird One occurrence at the AT2
airborne anomaly site. Two holes have been completed along local grid line 4000 East.
The two holes scissored one another to confirm dip orientation. Three
parallel bands of chromite mineralization were found to extend beneath the
gravity anomaly, dipping approx 65 degrees to the northwest within a
Periodotite Sill (Ring of Fire) striking northeast. Further drilling of
this anomaly will be carried out southeasterly towards the Blackbird One
occurrence along the gravity anomaly trend.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the Double Eagle
project which includes grouping samples into batches of 35 into which are
added 2 certified reference material standards, 2 field blanks comprised of
sterile drill core, and a field duplicate. Coarse reject and pulp
duplicates also form part of the QC program. Approximately 10% 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 as 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, Ontario. The samples submitted to Actlabs were
analyzed for multi-elements, including Ni and Cu using a four acid digest
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 3-acid
digest with an ICP analysis.. For final chrome analysis, the samples where
elemental chrome using the ICPOES multi-element analysis methodology provides
greater than 1% Cr, the samples are then submitted for additional analysis
using INAA that involves irradiating the samples prior to final analysis.
This methodology provides analysis in percent for elemental Cr as well as
Cr2O3 and elemental Fe. For more information on assay methodology please
visit the Activation Laboratories Ltd. Website at http://www.actlabsint.com.
Drilling results in this press release have been reviewed in the field and
approved for dissemination by Noront's senior management including John
Harvey, P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall
P.Geo., Noront's new Chief Geologist, both being Qualified Persons under
Canadian Securities guidelines.
Noront is a tier 2 junior resource company on the TSX Venture Exchange,
trading symbol NOT, with 129,824,783 shares issued to date.
Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront
where they can post questions and receive answers or review questions and
answers already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to NOT@agoracom.com where
they can also request to be added to the investor e-mail list to receive
all future press releases and updated in real time.
ON BEHALF OF THE BOARD OF DIRECTORS:
R. Nemis, President and Chief Executive Officer
This press release includes certain "Forward-Looking
Statements" within the meaning of the US Private Securities Reform Act
of 1995. Other than statements of historical fact, all statements are
"Forward-Looking Statements" that involve such various known and
unknown risks, uncertainties and other factors. There can be no assurance
that such statements will prove accurate. Results and future events could
differ materially from those anticipated in such statements. Readers of
this press release are cautioned not to place undue reliance on these
"Forward-Looking Statements".
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Noront Resources Ltd.
Neil Novak P.Geo..
(416) 864-1456
Fax: (416) 367-5444
Email: info@norontresources.com
Website: www.norontresources.com