HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Early comparison of Eagle 2 and AT12

Early comparison of Eagle 2 and AT12

posted on Jul 29, 2008 06:46PM

This was the discription given for Eagle 2

The rock units encountered at Eagle Two consist of strongly altered peridotite hosting a multi-phased deformation zone containing veins of sulphides ranging from a few centimeters wide to over 3 meters wide. The deformation zone varies in length from 3 meters to 26 meters in the holes drilled to date. The sulphide veins encountered in each hole are composed of pyrrhotite, magnetite, chalcopyrite and pentlandite with variable amounts of talc. Large crystals of pentlandite up to a few millimeters in size are evident in the most recent drill hole (NOT-08-1G8). A detailed account of this new discovery will be press released shortly.

This is the description of AT12

Two drill holes completed thus far on Anomaly AT12 have returned encouraging widths of visual copper-nickel-iron sulphide mineralization up to 29.2 meters in MMS style Cu-Ni mineralization in peridotite host rock. Assays are pending.

And now the Eagle 1 first visual description:

The first hole of the current drill program NOT-07-01 has intersected visible copper sulphide mineralization (chalcopyrite) in a pyrrhotite - chalcopyrite - peridotite geological setting. The initial hole was drilled at -45 degrees and intersected chalcopyrite and pyrrhotite mineralization between 56 meters to 82 meters, however the total sulphide percentage dropped off between 69 and 82 meters downhole. Between 82 and 122 the mineralization slowly decreases to trace levels beyond 125 meters. The total drill intercept of the mineralized sulphide zone was 69 meters. The first hole continued to 140 meters and was terminated. A second hole drilled from same location, undercut hole NOT-07-01 at -65 degrees. This second hole entered similar mineralization (as in the first hole) at 91.3 meters core length. The hole intersected 72.9 meters of mineralization, the overall tenor of mineralization in the second hole is similar to that of the first hole, however a massive section of pyrrhotite and chalcopyrite over 1.93 meters (104.67 to 106.6) has been observed in the second hole and was not seen in the first hole

Now when you compare all three, Eagle 2 is the only one where they discuss veins. The veins are an indication of smaller diameter deposits as opposed to Eagle 1 which was never described as veins. I believe if AT12 had be drilled before AT2, it would have been called Eagle 2 by now. However, Noront realizes that naming AT2 Eagle 2 gave the market high expectations for grades similar to Eagle 1. So now, they are a little more cautious before screeming wolf...I mean Eagle 3. However, from the description of the first 2 holes and the info from the rumours regarding hole#3, AT12 is much more like Eagle 1 than Eagle 2 was. Only time will tell how much like Eagle 1 it is but I believe it will earn the title of Eagle 3.

Cheers,

Glorieux

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