High grade in the bulk sample... Zone 17

Posted by: res-investor on August 04, 2008 07:01PM

Look at the photo in this link... and note the location this stellar sample was found!

http://www.norontresources.com/proje...

Description from FWR website:

EXPLORATION OVERVIEW

The Windfall property area is currently the major focus of gold exploration by a number of junior mining companies. This is due to Noront Resources Ltd. high-grade drill intercept of 1328 g/t gold over 4.80 metres near the Windfall property boundary in late 2006 and by exploration success generated over the last few years by the Freewest-Murgor JV on this property.

Exploration to date at Windfall has focused on the F-17, F-11 and F-51 zones. All of the zones occur in northeast-trending shear zones dipping steeply to the northwest. Within the shear zones, gold occurs in discrete shoots that have a variable plunge of -10˚ to -45˚ to the northeast. All of the zones remain open down-plunge with excellent potential to expand the gold resource. Some of the better drill intercepts from the F-17 and F-11 zones are as follows:

The Noront high-grade discovery is believed to be hosted within a northeast-trending structure that extends onto the Windfall property. The joint-venture drill tested this structure with two holes at one locale, approximately 1.5 kilometres to the northeast of the Noront discovery, at an earlier date. Visible gold was obtained within one of the holes and assayed 1.00 g/t gold over 1.00 metre.

The Freewest-Murgor JV recently reached an agreement with Noront Resources Ltd. in which Noront optioned 29 mineral claims from them on the Windfall property. The 29 claims are located immediately to the north of the Noront property and encompass a portion of the northeast-trending structure hosting the Noront high-grade zone and also include the F-11 and F-17 gold zones. The Freewest-Murgor JV will retain a 100% interest on the remaining 184 claims on the Windfall property, including the northeast extension of both the F-11 and F-17 gold zones. Drilling is planned to test these very prospective structures in the spring of 2007.

Under the agreement, Noront can earn a 50% interest in the 29 claims by issuing 750,000 shares to the Freewest-Murgor JV and spend $4.0M on exploration and development. Noront has the right to complete a feasibility study; should the Freewest-Murgor not participate in such study, Noront’s interest would increase to 60%. Thereafter the parties shall operate under a new joint-venture agreement on a 60-40 participating basis (Noront 60% - Freewest-Murgor JV 40%).

Noront’s objective is to test and sample the F-11 and F-17 zones with an underground exploration ramp that will be collared on the newly optioned ground.