https://www.nasdaq.com/press-release/noront-exploration-update-for-mcfaulds-no8-vms-discovery-20190423-00464

Noront Exploration Update for McFaulds No.8 VMS Discovery

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.

Figure 1: Long-section of McFaulds No.8 & No.10 VMS discoveries (looking southeast)

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."

MCF-10-100 Results

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.

To view Figure 1: Long-section of McFaulds No.8 & No.10 VMS discoveries (looking southeast), please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/3c7a2a27-d8da-471c-a5da-6cdca4bb9efb