Noront Resources Exploration Update for McFaulds No.8 VMS Discovery
TSX VENTURE: NOT
TORONTO, April 23, 2019 (GLOBE NEWSWIRE) -- Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to provide an update on the 2019 Phase-1 exploration program at the company’s 85% owned McFaulds volcanogenic massive sulphide (VMS) property in the Ring of Fire.
The 2,059-metre copper-zinc focused program was completed in March. It was designed to test the down-dip continuity of the McFaulds No. 8 VMS deposit, which previously returned 26.4 metres of massive sulfide in hole MCF-18-98 grading 2.1% copper, 3.4% zinc, 5.5 grams per tonne silver and 0.5 grams per tonne gold.
Highlights include 20.0 metres in hole MCF-19-102 grading 2.0% copper within a zone of abundant copper laminations and stringers. Exploration results are summarized in Table 1.
“While MCF-19-102 did not intersect massive sulfide, its copper grades are similar to those seen in MCF-18-98 in which the massive sulfide intersection was 26.4 metres,” said Noront Vice President Exploration, Ryan Weston. “The high copper activity of these fluids evidenced by an abundance of chalcopyrite over pyrite, pyrrhotite and sphalerite, re-affirms our belief that the hydrothermal system is getting hotter and more copper-rich at depth at McFaulds No.8.”
McFaulds 2019 Phase-1 Drill Hole Summary Results
|Drill Hole||Hole Length (m)||From (m)||To (m)||Width (m)||Cu (%)||Zn (%)||Ag (g/t)||Au (g/t)|
|MCF-19-99||35.0||Hole abandoned at 35m depth due to excessive hole deviation|
|MCF-19-101||217.0||Hole abandoned at 217m depth due to excessive hole deviation|
MCF-19-100 is a Bore-Hole EM (BHEM) platform hole targeting the McFaulds No. 8 horizon approximately 175 metres down dip of MCF-18-98. Due to less than anticipated lift, the hole intersected the target horizon approximately 280 metres down-dip of MCF-18-98. Hole MCF-19-100 did not intersect any significant mineralization, however, weak alteration and minor sulfides centred 920 metres downhole are inferred to be the distal expression of the McFaulds No.8 horizon. The hole also intersected a much thicker accumulation of massive dacite than anticipated suggesting the presence of a felsic dome which may partly control the distribution of sulfides at McFaulds No.8. The BHEM EM survey also indicated a strong off-hole anomaly with a more pronounced north easterly plunge than previously modelled further up-dip (See Figure 1).
Hole MCF-19-102 Results
MCF-19-102 targeted the modelled plate from MCF-19-100 with a planned pierce point 100 metres down-dip of MCF-18-98 following the north easterly plunge direction. Excessive lift and drift in the hole resulted in a pierce point approximately 100 metres along strike and slightly up-dip from MCF-18-98. Despite missing the targeted pierce point, the hole intersected over 36 metres of copper mineralization, including 20.0 metres grading 2.0% copper and 4.8 grams per tonne silver from 660.0 metres downhole, in the form of bedding-parallel chalcopyrite bands and stringers within intensely chlorite-magnetite altered intermediate tuff. Textural observations suggest copper replacement of pyrite, pyrrhotite with minimal zinc mineralization.
BHEM surveying of MCF-19-102 confirms the hole intersected the edge of McFaulds No.8 with a strong edge response. Integrated modelling of holes MCF-18-98, 19-100 and 19-102 produced a highly conductive plate (21,000 siemens) 480 metres long by 125 metres wide, with a strong north easterly plunge continuous down-dip (See Figure 1).
A 25-metre wide zone of strong garnet-magnetite alteration with associated zinc-lead-silver anomalism lies immediately beneath the copper zone in MCF-19-102 and appears similar in character to the McFaulds No. 10 horizon suggesting the two hydrothermal systems (McFaulds No. 8 and No.10) may overlap in this area.
The Company is currently planning a Phase-2 drilling program to follow-up on results of the Phase-1 program and to test other high priority targets on the property.
Quality Assurance and Quality Control (QA/QC) Program
Noront maintains a strict QA/QC protocol for all its drilling programs. Core logging and sampling is performed on-site under the supervision of geologists licensed by the Association of Professional Geoscientists of Ontario (APGO). Reference standards, field blanks, and duplicates are inserted into the sample stream at regular intervals. Once cut, drill core samples are labelled and sealed in individual bags then grouped into batches for shipping to Thunder Bay via Nakina under chain of custody documentation.
Samples are submitted to Activation Laboratories (Actlabs), an ISO-17025 certified laboratory in Thunder Bay, for sample preparation and multi-element analysis. This includes fire-assay for precious metals and total-digestion ICP-OES for base metals (exclusive of chromium which is analysed by XRF). Samples exceeding analytical upper limits are automatically run for over-limit analysis. Analytical results are sent electronically by Actlabs to a database manager at Noront whereupon the company’s internal standards, duplicates and blanks are reviewed for accuracy, precision and the presence of possible contamination. QA/QC results for each batch are reviewed by a Noront Qualified Professional prior to accepting and importing new assays into the database. All assays reported in this press release passed the Noront QA/QC program.
About Noront Resources
Noront Resources Ltd. is focused on development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com
Ryan Weston P.Geo., Noront Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI-43-101”) has reviewed and approved the technical information contained in this press release.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation
Forward-looking information is based on reasonable assumptions that have been made by Noront as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Noront to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; that all conditions precedent to the transactions will be met; risks related to government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations (including those contained in the Feasibility Study) and changes in project parameters as plans continue to be refined; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Noront; stock market volatility; competition; risk factors disclosed in Noront’s most recent Management’s Discussion and Analysis and Annual Information Form, available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Noront’s ability to control or predict.
Although Noront has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual results and future events could differ materially from those reliant on forward-looking information.
All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Noront disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.