What's up with Canaccord? Mentioning Noront two days in a row and with positive comments. After today they may have to make it three days in a row.
Noront Resources (NOT : TSX-V : $5.50), Net Change: 0.46, % Change: 9.13%, Volume: 3,634,768
Where eagles fly. Noront traded higher after releasing visual descriptions from a series of drill holes that tested a second EM geophysical conductor similar in character to the Eagle #1 discovery within its 100%-owned Double Eagle project in the McFauld’s Lake area of Northeastern Ontario. The Eagle #2 occurrence is about 2 km to the SW from Eagle #1. The company has six additional EM targets that remain untested on the Double Eagle project. Four drill holes testing the Eagle #2 target all intersected altered peridotite hosting a 3-26 metres wide deformation zone containing veins and breccia zones hosting pyrrhotite, magnetite, chalcopyrite (Cu sulphides) and pentlandite (Ni sulphides), associated with chromitite layers. Drill hole NOT-08-1G8, according to the company intersected the most significant mineralization, 7.0 metres of massive sulphide (true width unknown). It is encouraging that Noront has intersected a second zone of mineralization associated with the Eagle #2 anomaly. At this time, visual descriptions suggest that the company has intersected modest Cu-Ni mineralization but assays are required to determine the grade, since fine grained pentlandite is visually impossible to determine. Closeology plays include: Macdonald Mines (BMK), Fancamp Exploration (FNC), Probe Mines (PRB), Temex Resources (TME), KWG Resources (KWG), UC Resources (UC), and Spider Resources (SPQ).