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: Noront Resources updates on Eagle Nest deposit

Noront Resources updates on Eagle Nest deposit

posted on Dec 04, 2009 12:58AM
Noront Resources updates on Eagle Nest deposit
Friday, 04 Dec 2009

Noront Resources Limited has announced that drilling results continue to expand the size of the Eagle's Nest deposit and have definitively filled in all remaining gaps along the vertical length defining the mineralization to a depth of below 1,000 meters.

Hole NOT-09-068-W1 was targeted to completely fill in the gap between what were formerly known as the B and C lenses at Eagle's Nest. In addition, hole NOT-09-070-W1 intersected significant massive mineralization including the highest platinum grades encountered to date at Eagle's Nest. The massive sulphide zone is taking shape and is close to being defined along the down dip length of the deposit.

Mr Wes Hanson CEO of Noront said that "We continue to aggressively expand the resource potential at Eagle's Nest. We strongly believe that we have delivered on our stated target of tripling the Eagle One resource. Our drilling has established that the Eagle's Nest deposit is continuous from surface to depths below 1,000 meters and the mineralization over most of that distance remains open along strike as well as at depth. Our geological team currently estimates between 10 and 15 million tonnes of mineralized material at Eagle's Nest averaging approximately 2% nickel, 1.0% copper, 1 to 2 grams per tonne platinum and 3 to 5 grams per tonne palladium, consistent with the grades estimated in the existing 43-101 Resource Estimate for Eagle One. More importantly, the geometry of the deposit is ideally suited for underground mining which eliminates the need for expensive dikes and surface dewatering systems inherent to any open pit mining in this region of Canada."

He added that "We will be inviting qualified, independent engineering firms to bid on updating the Eagle's Nest resource estimate and plan to award this work by January 2010."

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