Noront Exploration and Eagle’s Nest Permitting Update
TORONTO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is reopening Esker Site and mobilizing its team to resume exploration activities in the Ring of Fire.
“We are initiating a late summer field program that will require 12-15 people during which we’ll employ soil sampling to explore for gold and airborne geophysical surveys to explore for nickel,” said Noront President and CEO Alan Coutts.
Esker Site was closed in early April to protect staff and the communities surrounding Noront’s operations from the spread of COVID-19. Now that the site is reopening, a rigorous back-to-work protocol is in place. It will ensure workers travelling to and from the site are symptom-free and low risk. In addition, travel will be reduced to essential staff with minimal planned flights. While at site, workers will practice social distancing and wear face masks when necessary. Regular sanitizing of common touch points will be performed daily. At no point will Noront flights will be landing in either Webequie or Marten Falls First Nation as per guidance from the local Chiefs and Councils.
Noront previously discovered anomalous gold mineralization in over 50 diamond drill holes along the Triple-J fault zone and within the Thunderbird intrusion 13 km northeast of Esker Site. Both occurrences are close to the Webequie Shear Zone (WSZ) which is believed to be prospective for greenstone hosted gold mineralization but has never been explored for gold (Figure 1).
Soil samples will be collected in a 10 km by 5 km area along the WSZ to detect areas of anomalous gold indicative of a bedrock source. Soil sampling will also be performed across a secondary structure bisecting the Thunderbird ferrogabbro intrusion where past drilling intersected auriferous quartz-sulfide veins cross-cutting magnetite-rich portions of the intrusion resulting in sulfidation of the magnetite to pyrrhotite-pyrite in a process similar to many BIF-hosted gold deposits worldwide.
In 2019, several early stage targets believed to be prospective for nickel mineralization were also identified. From this work the Victory project, located 25 km east of Esker Site, was ranked highly and staked in early 2020. It is thought to consist of a thick sequence of ultramafic sills and/or flows intruding a sulfidic volcano-sedimentary sequence known as the Victory assemblage. The target has never been drilled tested and has had limited geophysical surveying. Geotech has been commissioned to fly a 600 line-km VTEM-plus airborne EM (electromagnetic) survey over the Victory target in late August to identify nickel-sulfide conductors.
Figure 1: Summer 2020 Exploration Areas is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ec2e9b3-dfef-424f-8857-61e057b213c8
Now that all sections of the North-South All-Season Access Road have proponents, funding, and are advancing their Environmental Assessment (EA) processes, Noront will re-initiate EA activities for its Eagle’s Nest nickel-copper-platinum group element deposit. Because an all-season access road was originally part of the Eagle’s Nest Terms of Reference, Noront will submit a request for the access road to be excluded and for an adjusted Terms of Reference to be issued by the province of Ontario.
Annual General Meeting
The Noront AGM will take place on September 3, 2020 at the Company’s Toronto office. To manage potential health risks and provincially mandated COVID-19 physical distancing requirements, a call-in meeting of shareholders will be conducted on that date, followed by a video update and a question and answer session hosted by Noront President and CEO, Alan Coutts. Noront staff in Thunder Bay and Toronto continue to work remotely.
About Noront Resources
Noront Resources Ltd. is focused on development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com
Ryan Weston, P.Geo., Noront Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI-43-101”) has reviewed and approved the technical information contained in this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information please contact:Janice Mandel email@example.com (647) 300-3853
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation
Forward-looking information is based on reasonable assumptions that have been made by Noront as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Noront to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; that all conditions precedent to the transactions will be met; risks related to government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations (including those contained in the Feasibility Study) and changes in project parameters as plans continue to be refined; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Noront; stock market volatility; competition; risk factors disclosed in Noront’s most recent Management’s Discussion and Analysis and Annual Information Form, available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Noront’s ability to control or predict.
Although Noront has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual results and future events could differ materially from those reliant on forward-looking information.
All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Noront disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.