CIM Branch Luncheon
Location: National Club - 303 Bay Street on the east side of the street, between King and AdelaideDate: April 17, 2008
Eagle One Magmatic Massive Sulphide Discovery
In May 2007, Noront Resources Ltd. optioned a two claim property in the James Bay lowlands area of Northern Ontario. Noront had already been active in the area staking claims in 2003, and conducting airborne (2003) and ground (2004-2006) geophysical surveys.
Drilling commenced in August 2007 and by September, as a result of the public disclosure of data from the first holes, one of the largest staking rushes the Province of Ontario had seen in decades was on. Hole NOT-07-05 was drilled vertically into the heart of geophysical anomaly – a 68.3 meter section (not true width) averaged 5.9% nickel, 3.1% copper, 2.87 g/t platinum, 9.78 g/t palladium, 0.61 g/t gold and 8.5 g/t silver.
To date, Noront has drilled 35 holes, defining a well mineralized Ni, Cu, Pt, Pd, Au, and Ag enriched Magmatic Massive Sulphide (“MMS”) body that has been traced from surface to a depth of 225 meters. Noront continues to explore in the region and is currently working on an initial resource estimate of the Eagle One MMS occurrence.
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