|
Noront
Resources Ltd. ("Noront" or the
"Company") (TSXV:NOT.V)
is pleased to announce that pursuant to the Canadian
Environmental Assessment Act, it has filed its Project Description for
the Company's Eagle's Nest deposit, in the James Bay Lowlands, Ontario, with
the Canadian Environmental Assessment Agency and the Province of Ontario's
Ministry of Northern Development, Mines, and Forestry.
Noront's
President and CEO, Wes Hanson, states: "The Project Description
initiates the permitting process for development of the Eagle's Nest deposit.
This is the first step of the permitting process and establishes a starting
point for future consultation regarding infrastructure and mine development
of the Eagle's Nest deposit with the local First Nation communities as well
as local, provincial and federal government agencies."
Noront's
Project Description proposes a planned 1.0 million tonne
per annum underground mine and mill complex processing high grade nickel,
copper, platinum and palladium ore from the Eagle's Nest deposit. Proposed
surface disturbance at the mine site is limited to an airstrip, an
accommodation, recreation and office complex, an explosive storage site, an
underground portal and site roads connecting these facilities.
The mill complex will be established in underground excavations,
taking advantage of the highly competent host rocks and minimizing surface
disturbance at the site. Mill tailings will be stored underground as paste or
cemented paste backfill in the voids created by mining of the nickel copper
ore and competent waste rock which is planned to be used as construction
material.
The Mine is estimated to produce approximately 150,000 tonnes of concentrate annually, which would be pumped via
a buried pipeline, approximately 100 kilometres due
west to a proposed site named Webequie Junction.
This site is located approximately 20 kilometres
south of the community of Webequie. A filtering and
drying plant will be constructed at Webequie
Junction to treat the concentrate, recycle the water back to the site and
transfer the concentrate to truck for shipment to a proposed railhead near
Savant Lake.
A diesel generating station will be established at Webequie
Junction and power will be brought to site via a new power line. Both the
power line and the buried concentrate slurry pipeline will follow a winter
road that is proposed between the Eagle's Nest deposit and Webequie Junction. The winter road will limit the environmental
footprint on the James Bay Lowlands.
At the end of the winter road from Eagle's Nest to Webequie
Junction, an all season road is proposed to connect Webequie
Junction to Highway #808 north east of Pickle Lake. This proposed route
generally follows the existing Ministry of Natural Resources winter road
corridor thereby limiting the environmental impact. This route will allow
truck haulage of concentrate to the proposed rail facility.
During operation, mine consumables supply will utilize the same route,
the proposed all season road to Webequie Junction
followed by the winter road to site. People and perishable goods will be
transported to site via air to the proposed airstrip.
Noront's
senior management have reviewed this release including Mr. Paul Semple, P.Eng., Noront's Chief Operating
Office and 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 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 program. 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
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the
meaning of applicable Canadian securities legislation, including predictions,
projections and forecasts. Forward-looking statements include, but are
not limited to, statements that address activities, events or developments
that the Company expects or anticipates will or may occur in the future,
including such things as future business strategy, competitive strengths,
goals, expansion, growth of the Company's businesses, operations, plans and
with respect to exploration results, the timing and success of exploration
activities generally, permitting time lines, government regulation of
exploration and mining operations, environmental risks, title disputes or
claims, limitations on insurance coverage, timing and possible outcome of any
pending litigation and timing and results of future resource estimates or
future economic studies.
Often, but not always, forward-looking statements can be identified by
the use of words such as "plans", "planning",
"planned", "expects" or "looking forward",
"does not expect", "continues", "scheduled",
"estimates", "forecasts", "intends",
"potential", "anticipates", "does not anticipate",
or "belief", or describes a "goal", or variation of such
words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or
"will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors
and assumptions, including, the result of drilling and exploration
activities, that contracted parties provide goods and/or services on the
agreed timeframes, that equipment necessary for exploration is available as
scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment
function as specified, that no unusual geological or technical problems
occur, and that laboratory and other related services are available and
perform as contracted. Forward-looking statements involve known and
unknown risks, future events, conditions, uncertainties and other factors
which may cause the actual results, performance or achievements to be
materially different from any future results, prediction, projection,
forecast, performance or achievements expressed or implied by the forward-looking
statements. Such factors include, among others, the interpretation and actual
results of current exploration activities; changes in project parameters as
plans continue to be refined; future prices of gold; possible variations in
grade or recovery rates; failure of equipment or processes to operate as
anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing or in the completion
of exploration, as well as those factors disclosed in the Company's publicly
filed documents. Although Noront has attempted to
identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
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.
|
|