Here is a post from AB. I sure am enjoying seeing NOSOF SP moving up! I just had a thought I never thought I'd have, I don't want news or a halt. The last 3 or 4 resulted in the SP going down, I'm happy with rumors:missingte.
All will be revealed.....
Posted by: hoov on July 16, 2008 10:38AM
....in its own time. I have total faith in RN, and how he's handling everything. Just as in baking a cake, you can't rush things. It takes as long as it takes.
When I first began following the ROF play, it was after Eagle 1. I noted how many JVs RN was getting into. With the huge number of claim blocks, he could accomplish a number of positive actions simultaneously: a) he could accelerate the rate at which the claims got drilled; b) he could get other entities to pay for it; c) he could convert some "blue sky" potential into cash/shares (of partners), increasing the tangible assets of NOT (including gaining exposure to all the partners' other mineral plays); d) he could bring other good minds into partnerships with him.....relationship building, for later on. That's when I decided to invest, and I picked NOT as my primary investment. I also picked up a number of the JV partners, as the leverage there was higher.
Then comes Eagle 2, and the market's (non) reaction. It didn't faze RN one bit. What's he do? He goes out and gets a world-renowned expert on deposits of this nature, a professor of geology. He goes and gets someone with extensive experience in mergers/aquisitions. He builds a team that (IMHO) proves he knows what he's doing.
What do I think this team is doing now? I think they're building resource estimates on the fly. They don't need to wait to send data out to a third party. They are ahead of that curve. As each core comes out of the ground, they model the deposit. Mungal surely directs each subsequent hole, as he fills in his expert computer model. As assays are returned, the resource estimate takes shape. Long before it goes out to an "unrelated third party" for the creation of a 43-101. They know what they've got.
And these rumoured talks with a possibly European major.....this is where all the earlier efforts start to pay off. The team he's created. The relationships with other players (very important during any consolidation of claims down the road). The NR making clear he's prepared to go it alone (mining high-grade and shipping it). He's not going to take their first offer. Lawyers never take the first offer. This meeting is just to take a measure of each other. And I already know the measure of RN. And they should, too. He's positioned himself masterfully.
Everything in its time. We don't know anything because it's not yet time. Sure, I'd love to get news today. But, I'm not going to harass RN to produce something. I hope others take a similar view.
Lar
All will be revealed.....
Posted by: hoov on July 16, 2008 10:38AM
....in its own time. I have total faith in RN, and how he's handling everything. Just as in baking a cake, you can't rush things. It takes as long as it takes.
When I first began following the ROF play, it was after Eagle 1. I noted how many JVs RN was getting into. With the huge number of claim blocks, he could accomplish a number of positive actions simultaneously: a) he could accelerate the rate at which the claims got drilled; b) he could get other entities to pay for it; c) he could convert some "blue sky" potential into cash/shares (of partners), increasing the tangible assets of NOT (including gaining exposure to all the partners' other mineral plays); d) he could bring other good minds into partnerships with him.....relationship building, for later on. That's when I decided to invest, and I picked NOT as my primary investment. I also picked up a number of the JV partners, as the leverage there was higher.
Then comes Eagle 2, and the market's (non) reaction. It didn't faze RN one bit. What's he do? He goes out and gets a world-renowned expert on deposits of this nature, a professor of geology. He goes and gets someone with extensive experience in mergers/aquisitions. He builds a team that (IMHO) proves he knows what he's doing.
What do I think this team is doing now? I think they're building resource estimates on the fly. They don't need to wait to send data out to a third party. They are ahead of that curve. As each core comes out of the ground, they model the deposit. Mungal surely directs each subsequent hole, as he fills in his expert computer model. As assays are returned, the resource estimate takes shape. Long before it goes out to an "unrelated third party" for the creation of a 43-101. They know what they've got.
And these rumoured talks with a possibly European major.....this is where all the earlier efforts start to pay off. The team he's created. The relationships with other players (very important during any consolidation of claims down the road). The NR making clear he's prepared to go it alone (mining high-grade and shipping it). He's not going to take their first offer. Lawyers never take the first offer. This meeting is just to take a measure of each other. And I already know the measure of RN. And they should, too. He's positioned himself masterfully.
Everything in its time. We don't know anything because it's not yet time. Sure, I'd love to get news today. But, I'm not going to harass RN to produce something. I hope others take a similar view.
Lar
Here's a post from AB.
Just spoke to Richard
Posted by: tcp1002 on July 16, 2008 11:14AM
All is well with our company. He has been very busy this week.
Windfall- Still progressing with the ramp. I can't remember what he said about zone 17 as I couldn't write fast enough. He said go into the web site to see some of the museum pieces they have found so far. He said they will continue to test each zone to see if what they have is economical to mine. phase 1 will test zone 1-3 and phase 2 will test zones 5-7. He said it looks good so far.
China- Suppose to be drilling this summer but does not have any further info.
Mexico- They are in court right now trying to get clearance to pass over some onther land so they can get into the land we have for the drilling. He said they will get the clearance but did not know when.
Burn Hill- doesn't know what's happening with it.
Double Eagle- I asked where they are drilling right now and he said they are at AT2, AT6, and AT12. He said to look at the map on the web for exactly where the location is. He also said that AT12 location will be changed on the map as it's not exactly right but they are drilling in that general location.
They have 4 drills right now and number 5 is to arrive soon. 3 are in the AT areas I mentioned above the 4th is loaned to WSR and they are drilling. Didn't ask where number 5 was going to be (sorry).
I asked about the Rhodium and he said he keeps forgetting to ask the person that knows about the results. He did say that it was of economin value and that it is currently trading at $12,000/OZ.
I asked about the other metal we found and he said it is called Chromite. I said what do you think about this? here is a direct quote: " That could be the sleeper of the year". Then he starts explaining that it is used for the baking of stainless steel and can be substituted for other nickel. I believe this is how I heard it. He also said that the price for Chromite has doubled in the last year.
The other thing he said is that we currently have 1 Chromite and 2 nickel deposits.
As usual he could not comment about any news due. I said I was glad the stock has come around and he said it should do better and I said will it, and he replied don't worry it will.
That's it! I just thought i would share with everyone.
Good Luck to all of us. Still holding strong. Tcp
Just spoke to Richard
Posted by: tcp1002 on July 16, 2008 11:14AM
All is well with our company. He has been very busy this week.
Windfall- Still progressing with the ramp. I can't remember what he said about zone 17 as I couldn't write fast enough. He said go into the web site to see some of the museum pieces they have found so far. He said they will continue to test each zone to see if what they have is economical to mine. phase 1 will test zone 1-3 and phase 2 will test zones 5-7. He said it looks good so far.
China- Suppose to be drilling this summer but does not have any further info.
Mexico- They are in court right now trying to get clearance to pass over some onther land so they can get into the land we have for the drilling. He said they will get the clearance but did not know when.
Burn Hill- doesn't know what's happening with it.
Double Eagle- I asked where they are drilling right now and he said they are at AT2, AT6, and AT12. He said to look at the map on the web for exactly where the location is. He also said that AT12 location will be changed on the map as it's not exactly right but they are drilling in that general location.
They have 4 drills right now and number 5 is to arrive soon. 3 are in the AT areas I mentioned above the 4th is loaned to WSR and they are drilling. Didn't ask where number 5 was going to be (sorry).
I asked about the Rhodium and he said he keeps forgetting to ask the person that knows about the results. He did say that it was of economin value and that it is currently trading at $12,000/OZ.
I asked about the other metal we found and he said it is called Chromite. I said what do you think about this? here is a direct quote: " That could be the sleeper of the year". Then he starts explaining that it is used for the baking of stainless steel and can be substituted for other nickel. I believe this is how I heard it. He also said that the price for Chromite has doubled in the last year.
The other thing he said is that we currently have 1 Chromite and 2 nickel deposits.
As usual he could not comment about any news due. I said I was glad the stock has come around and he said it should do better and I said will it, and he replied don't worry it will.
That's it! I just thought i would share with everyone.
Good Luck to all of us. Still holding strong. Tcp
Another post from AB
The Other Shoe Will Drop
Posted by: Milsy1 on July 16, 2008 01:04PM
Nice post coswil.
For those that have been around a while, you will recollect that a while back, there were rumors abounding that a major was going to take a position of approx. 10% to the tune of $10.00-$12.00 per share. Apparently, those rumors at that time were premature.
We do know that confidentiality agreements were signed and now apparently we are in additional discussions with a major(s).
If in fact the most recent rumor of additional "semi & massive" hits with decent strike length come to fruition, you can be assured that the fuse will be lit. Our share price will appreciate very quickly to likely new highs. That in itself will be fantastic. What will be even better however is the likely clamouring by the majors to secure that 10% interest for themselves. When that does happen, you can be assured that our share price will move to beyond the level of the share price buy-in.
Richard certainly is not the character that Friedland is but rest assured, he is playing hardball.
Now, let's substantiate that rumor.
Cheers,
The Other Shoe Will Drop
Posted by: Milsy1 on July 16, 2008 01:04PM
Nice post coswil.
For those that have been around a while, you will recollect that a while back, there were rumors abounding that a major was going to take a position of approx. 10% to the tune of $10.00-$12.00 per share. Apparently, those rumors at that time were premature.
We do know that confidentiality agreements were signed and now apparently we are in additional discussions with a major(s).
If in fact the most recent rumor of additional "semi & massive" hits with decent strike length come to fruition, you can be assured that the fuse will be lit. Our share price will appreciate very quickly to likely new highs. That in itself will be fantastic. What will be even better however is the likely clamouring by the majors to secure that 10% interest for themselves. When that does happen, you can be assured that our share price will move to beyond the level of the share price buy-in.
Richard certainly is not the character that Friedland is but rest assured, he is playing hardball.
Now, let's substantiate that rumor.
Cheers,
Post from AB
This is how spectacular Nornt's find in Mcfauld's is Referance made
Posted by: coswil on July 17, 2008 12:35AM
in Resource World Magazine. Here is description in Summer 2008 edition It is called How to Profit with Mining Stocks
Article Making The Grade ; subject Nickel
age 25 it says" This valueable metal doesn't usually occur in nature as a bulk tonnage target since most bulk tonnage mines contain 100 million tonnes of ore or more and most hard rock nickel deposits are less than 10 million tonnes in size.Therefore anything over 20 metres in thickness {significantly less thickness than other commodities} and 2 % nickel grade or better would be reasonably considered high grade. Example In September Noront resources released two nickel intercepts from shallow drilling between 80 meters and 150 metres deep with a s ection of 71 metres grading 1.8% nickel and 1.5 % copper . The stock moved from 0.80 to $4."
We are now being used as EXAMPLES in determining how to pick grades and exploration results. THIS IS SIGNIFIGANT
This is how spectacular Nornt's find in Mcfauld's is Referance made
Posted by: coswil on July 17, 2008 12:35AM
in Resource World Magazine. Here is description in Summer 2008 edition It is called How to Profit with Mining Stocks
Article Making The Grade ; subject Nickel
age 25 it says" This valueable metal doesn't usually occur in nature as a bulk tonnage target since most bulk tonnage mines contain 100 million tonnes of ore or more and most hard rock nickel deposits are less than 10 million tonnes in size.Therefore anything over 20 metres in thickness {significantly less thickness than other commodities} and 2 % nickel grade or better would be reasonably considered high grade. Example In September Noront resources released two nickel intercepts from shallow drilling between 80 meters and 150 metres deep with a s ection of 71 metres grading 1.8% nickel and 1.5 % copper . The stock moved from 0.80 to $4."We are now being used as EXAMPLES in determining how to pick grades and exploration results. THIS IS SIGNIFIGANT
From rumor to fact!
NEWS - Noront Announces New Cu-Ni Occurrence at Anomaly AT12
Posted by: AGORACOM on July 17, 2008 04:27PM
PROVIDES UPDATE ON OTHER DOUBLE EAGLE DRILLING PROJECTS
TORONTO, ONTARIO - (July 17, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the following update on its exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands.
EXPLORATION HIGHLIGHTS
1) Two drill holes completed thus far on Anomaly AT12 have returned encouraging widths of visual copper-nickel-iron sulphide mineralization up to 29.2 meters in MMS style Cu-Ni mineralization in peridotite host rock. Assays are pending.
2) Latest drilling at Anomaly AT2 (Eagle Two), continues to probe deeper and delineate copper - nickel mineralization in a shear hosted sulphide setting (Eagle Two SHS Occurrence) now delineated down to a vertical depth of 580 meters along a strike length of 200 meters.
3) Assay results received from five holes (see Table 1) from Eagle Two with the most significant intersection being 6.2 meters from 165.0 meters onwards, averaging 1.14% nickel and 0.52 g/t Total Precious Metals ("TPM" see table below).
4) Noront now controls and holds interests in 1,166 square kilometers of prospective land in the Ring of Fire exploration area.
The anomaly drilling program on the Double Eagle Project continues with two drills testing the Eagle Two (AT2 airborne anomaly) downward extent of a copper-nickel sulphide mineralization in a Shear Hosted Sulphide ("SHS") environment, as well as layered chromite ("LC") mineralization in a peridotite intrusive geological environment, now referred to as "Blackbird One" so as to distinguish this site from the Eagle Two occurrence. Information on the Blackbird One chrome occurrence will be the subject of a separate release.
A third drill is testing other nearby airborne identified geophysical anomalies that have been upgraded to drill targets as a result of ground geophysical surveys and geological review, all within the geophysically interpreted northeast extension of the Ring of Fire Intrusive ("RFI").
The drill assigned to testing anomalies has recently been moved to Grid 2 to test anomaly AT12, located approximately 9.5 kilometers to the northeast of the Eagle One Magmatic Massive Sulphide ("MMS") deposit.
As previously announced (see press release dated July 4, 2008) Eagle One hosts an Indicated resource of 1.83 million tonnes averaging 1.96% nickel, 1.18% copper, 1.12 g/t Pt, 3.91 g/t Pd, as well as an Inferred resource of 1.09 million tonnes averaging 2.39% nickel, 1.27% copper, 1.37 g/t Pt and 4.5 g/t Pd.
AT12 Anomaly
The AT12 airborne anomaly is located approximately 9.5 kilometers northeast of the Eagle One Deposit. Drill testing has commenced on the north end of this long, northeast-southwesterly striking strong coincident magnetic - conductive target. Two drill holes completed to date have encountered encouraging widths of intermittent disseminated and semi-massive copper-nickel-iron sulphide mineralization which have been visually observed over widths up to 29.2 meters. The two drill holes were collared in cumulative-textured peridotite with the sulphide mineralization being encountered near the base of the ultramafic intrusive before the holes entered granodiorite basement rock. The two holes completed to date with a third hole underway are tabulated below with Local Grid and UTM collar coordinates and a visual description of mineralization encountered. Assays for this new sulphide discovery are pending, and these results are based on visual observations only. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.
The widths contained in Table 1 are not true widths as insufficient drilling has been completed on this occurrence to determine true widths.
EAGLE TWO AND BLACKBIRD ONE OCCURRENCES (AT2 Anomaly)
Noront has a new system of naming new mineral occurrences when they reach a certain level of continuity, size and tenure of mineralization. Nickel, copper occurrences are assigned the name "Eagle". Chromite occurrences are assigned the name "Blackbird". The number assigned to each occurrence type is indicative of the order of discovery. As stated above, the company will issue a separate release on the chrome results. To date, 32 holes totaling 11,719 meters have been completed at the AT2 anomaly to assess the Shear Hosted Sulphide and Layered Chrome occurrences discovered by Noront earlier this year (see earlier press release dated May 27, 2008). Two additional holes are currently underway (Holes NOT-08-1G55 and NOT-08-1G56), continuing to test these targets.
EAGLE TWO Ni-Cu OCCURRENCE
Assays from holes at Eagle Two, that have been received since the last press release (May 27, 2008) are described below (see Table 2). The current drilling has continued to extend the mineralization containing visible copper-nickel sulphides to a vertical depth of 660 meters. The Eagle Two occurrence occupies a position conformable with and near the stratigraphic bottom of a wide Peridotite Sill which in turn unconformably overlies a Granodiorite older basement rock. Assays are pending for the more recent holes. With the interpretation of the new holes at Eagle Two, the SHS zone continues to dip flatly at 50 to 60 degrees to the west and strikes north-south within the Peridotite sill or the "RFI".
Due to the limited number of drill hole and assay results, true widths are not yet determined for the Eagle Two occurrence.
Assays are pending for the following drill holes recently completed at the AT2 Anomaly site from both the Eagle Two and Blackbird One occurrences. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.
For all tables:
Cu refers to copper mineralization, typically chalcopyrite (cp)
Ni refers to nickel mineralization, typically pentlandite (pn)
Po refers to pyrrhotite a sulphide mineral
Mt refers to magnetite
Cr refers to chromite mineralization
Semi-massive refers to sulphide mineralization, predominantly po, pn and cp
Drilling continues at Anomaly AT2 with two drills continuing to test the Eagle Two and Blackbird One occurrences.
Other Anomaly Drilling Programs
Ground geophysical surveying is well underway at the Double Eagle project Grid 2 area, as well as other areas. Linecutting followed by ground geophysics has commenced for the numerous options and joint venture properties that are operated by Noront, around the Ring of Fire. Since January 2008, Noront staked many additional claims and continues to acquire additional land by staking and joint venture, all of which are being surveyed by Geotech Ltd's new deep penetrating airborne Time-Domain Electromagnetic ("VTEM") system, over the next few months. This new helicopter mounted system has demonstrable and acceptable conductance discrimination for high conductance targets by using a low frequency (30 Hz), long on-pulse and derived B-Field. Noront has amassed over 48,600 hectares of prospective ground and is in joint venture with several other resource companies on approximately 68,000 hectares. Collectively, Noront holds interest in approximately 116,800 hectares or 1,166 square kilometers of staked land within what management believes is the most favorable exploration area. A third drill has commenced on the Double Eagle Project to test airborne anomalies, all of which have undergone further ground geophysical surveying including AT-5, AT-6, AT-7 (all on Grid One) and AT12 (first anomaly on Grid 2) all east and north of the Eagle One MMS deposit.
AT3 Anomaly
As reported earlier (May 27, 2008) a total of 2,621 meters was drilled in eight holes testing airborne anomaly AT3, located 4 kilometers to the southwest of Eagle One, or two kilometers west of Eagle Two. These holes intersected altered (talc-chlorite alteration) and non-altered strongly magnetic peridotite units that were locally mineralized with disseminated sulphides. The presence of magnetite veinlets and disseminated sulphide mineralization in the peridotite provide some evidence of conductivity and explain the high magnetic signature for this geophysical anomaly. Samples were selected from all visual mineralized sections, and were submitted for multi-element analysis, results from hole NOT-08-1G26 are pending. No significant base metal or precious metal values have been received to date.
AT5 Anomaly
The AT5 anomaly is located approximately 1.1 kilometers east of the Eagle One deposit. This anomaly is described as a 500 meter long, 100 meter wide moderate to strong magnetic anomaly, with weak electromagnetic responses to various airborne and ground geophysical surveys. Two completed holes and one lost hole totaling 675 meters were drilled to test this anomaly as outlined in the following Table.
AT6 Anomaly
The AT6 anomaly is located approximately 2.0 kilometers northeast of the Eagle One deposit. This anomaly is described as a string of electromagnetic anomalies over 450 meters on the southern flank of a prominent magnetic anomaly. Three holes totaling 1,317 meters were completed while testing this anomaly as outlined in the following Table.
All three holes drilled to date on this anomaly have encountered sulphide mineralization that is interpreted to be iron formation style mineralization. Observed mineralization occupies a steeply south-east dipping series of cherty, narrow meta-volcanic beds where pyrite, pyrrhotite and chalcopyrite are present. The mineralized intervals encountered in these holes are being sampled for this respective metal content and assays are pending. No further work is contemplated at present here.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the Double Eagle project which includes grouping samples into batches of 35 into which are added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. Coarse reject and pulp duplicates also form part of the QC program. Approximately 10% of the samples are sent to a secondary lab as a monitor on the principal lab. It can be said with confidence that all assays as reported in this Press Release have passed the strict quality control guidelines as set out by Noront's an independent Qualified Person ("IQP").
All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digest followed by ICP-analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. For more information on assay methodology please visit the Activiation Laboratories Ltd. Website at http://www.actlabsint.com
Drilling results in this press release have been reviewed in the field and approved for dissemination by Noront's senior management including John Harvey, P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's new Chief Geologist, both being Qualified Persons under Canadian Securities guidelines. Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,493,883 shares issued to date.
Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updated in real time.
ON BEHALF OF THE BOARD OF DIRECTORS:
R. Nemis, President and Chief Executive Officer
This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
[FONT=Verdana,Arial,Helvetica,sans-serif]CONTACT INFORMATION:[/FONT]
[FONT=Verdana,Arial,Helvetica,sans-serif]Noront Resources Ltd.
Neil Novak P.Geo.
(416) 864-1456
Fax: (416) 367-5444
Email: info@norontresources.com
Website: www.norontresources.com[/FONT]
NEWS - Noront Announces New Cu-Ni Occurrence at Anomaly AT12
Posted by: AGORACOM on July 17, 2008 04:27PM
PROVIDES UPDATE ON OTHER DOUBLE EAGLE DRILLING PROJECTS
TORONTO, ONTARIO - (July 17, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the following update on its exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands.
EXPLORATION HIGHLIGHTS
1) Two drill holes completed thus far on Anomaly AT12 have returned encouraging widths of visual copper-nickel-iron sulphide mineralization up to 29.2 meters in MMS style Cu-Ni mineralization in peridotite host rock. Assays are pending.
2) Latest drilling at Anomaly AT2 (Eagle Two), continues to probe deeper and delineate copper - nickel mineralization in a shear hosted sulphide setting (Eagle Two SHS Occurrence) now delineated down to a vertical depth of 580 meters along a strike length of 200 meters.
3) Assay results received from five holes (see Table 1) from Eagle Two with the most significant intersection being 6.2 meters from 165.0 meters onwards, averaging 1.14% nickel and 0.52 g/t Total Precious Metals ("TPM" see table below).
4) Noront now controls and holds interests in 1,166 square kilometers of prospective land in the Ring of Fire exploration area.
The anomaly drilling program on the Double Eagle Project continues with two drills testing the Eagle Two (AT2 airborne anomaly) downward extent of a copper-nickel sulphide mineralization in a Shear Hosted Sulphide ("SHS") environment, as well as layered chromite ("LC") mineralization in a peridotite intrusive geological environment, now referred to as "Blackbird One" so as to distinguish this site from the Eagle Two occurrence. Information on the Blackbird One chrome occurrence will be the subject of a separate release.
A third drill is testing other nearby airborne identified geophysical anomalies that have been upgraded to drill targets as a result of ground geophysical surveys and geological review, all within the geophysically interpreted northeast extension of the Ring of Fire Intrusive ("RFI").
The drill assigned to testing anomalies has recently been moved to Grid 2 to test anomaly AT12, located approximately 9.5 kilometers to the northeast of the Eagle One Magmatic Massive Sulphide ("MMS") deposit.
As previously announced (see press release dated July 4, 2008) Eagle One hosts an Indicated resource of 1.83 million tonnes averaging 1.96% nickel, 1.18% copper, 1.12 g/t Pt, 3.91 g/t Pd, as well as an Inferred resource of 1.09 million tonnes averaging 2.39% nickel, 1.27% copper, 1.37 g/t Pt and 4.5 g/t Pd.
AT12 Anomaly
The AT12 airborne anomaly is located approximately 9.5 kilometers northeast of the Eagle One Deposit. Drill testing has commenced on the north end of this long, northeast-southwesterly striking strong coincident magnetic - conductive target. Two drill holes completed to date have encountered encouraging widths of intermittent disseminated and semi-massive copper-nickel-iron sulphide mineralization which have been visually observed over widths up to 29.2 meters. The two drill holes were collared in cumulative-textured peridotite with the sulphide mineralization being encountered near the base of the ultramafic intrusive before the holes entered granodiorite basement rock. The two holes completed to date with a third hole underway are tabulated below with Local Grid and UTM collar coordinates and a visual description of mineralization encountered. Assays for this new sulphide discovery are pending, and these results are based on visual observations only. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.
The widths contained in Table 1 are not true widths as insufficient drilling has been completed on this occurrence to determine true widths.
EAGLE TWO AND BLACKBIRD ONE OCCURRENCES (AT2 Anomaly)
Noront has a new system of naming new mineral occurrences when they reach a certain level of continuity, size and tenure of mineralization. Nickel, copper occurrences are assigned the name "Eagle". Chromite occurrences are assigned the name "Blackbird". The number assigned to each occurrence type is indicative of the order of discovery. As stated above, the company will issue a separate release on the chrome results. To date, 32 holes totaling 11,719 meters have been completed at the AT2 anomaly to assess the Shear Hosted Sulphide and Layered Chrome occurrences discovered by Noront earlier this year (see earlier press release dated May 27, 2008). Two additional holes are currently underway (Holes NOT-08-1G55 and NOT-08-1G56), continuing to test these targets.
EAGLE TWO Ni-Cu OCCURRENCE
Assays from holes at Eagle Two, that have been received since the last press release (May 27, 2008) are described below (see Table 2). The current drilling has continued to extend the mineralization containing visible copper-nickel sulphides to a vertical depth of 660 meters. The Eagle Two occurrence occupies a position conformable with and near the stratigraphic bottom of a wide Peridotite Sill which in turn unconformably overlies a Granodiorite older basement rock. Assays are pending for the more recent holes. With the interpretation of the new holes at Eagle Two, the SHS zone continues to dip flatly at 50 to 60 degrees to the west and strikes north-south within the Peridotite sill or the "RFI".
Due to the limited number of drill hole and assay results, true widths are not yet determined for the Eagle Two occurrence.
Assays are pending for the following drill holes recently completed at the AT2 Anomaly site from both the Eagle Two and Blackbird One occurrences. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.
For all tables:
Cu refers to copper mineralization, typically chalcopyrite (cp)
Ni refers to nickel mineralization, typically pentlandite (pn)
Po refers to pyrrhotite a sulphide mineral
Mt refers to magnetite
Cr refers to chromite mineralization
Semi-massive refers to sulphide mineralization, predominantly po, pn and cp
Drilling continues at Anomaly AT2 with two drills continuing to test the Eagle Two and Blackbird One occurrences.
Other Anomaly Drilling Programs
Ground geophysical surveying is well underway at the Double Eagle project Grid 2 area, as well as other areas. Linecutting followed by ground geophysics has commenced for the numerous options and joint venture properties that are operated by Noront, around the Ring of Fire. Since January 2008, Noront staked many additional claims and continues to acquire additional land by staking and joint venture, all of which are being surveyed by Geotech Ltd's new deep penetrating airborne Time-Domain Electromagnetic ("VTEM") system, over the next few months. This new helicopter mounted system has demonstrable and acceptable conductance discrimination for high conductance targets by using a low frequency (30 Hz), long on-pulse and derived B-Field. Noront has amassed over 48,600 hectares of prospective ground and is in joint venture with several other resource companies on approximately 68,000 hectares. Collectively, Noront holds interest in approximately 116,800 hectares or 1,166 square kilometers of staked land within what management believes is the most favorable exploration area. A third drill has commenced on the Double Eagle Project to test airborne anomalies, all of which have undergone further ground geophysical surveying including AT-5, AT-6, AT-7 (all on Grid One) and AT12 (first anomaly on Grid 2) all east and north of the Eagle One MMS deposit.
AT3 Anomaly
As reported earlier (May 27, 2008) a total of 2,621 meters was drilled in eight holes testing airborne anomaly AT3, located 4 kilometers to the southwest of Eagle One, or two kilometers west of Eagle Two. These holes intersected altered (talc-chlorite alteration) and non-altered strongly magnetic peridotite units that were locally mineralized with disseminated sulphides. The presence of magnetite veinlets and disseminated sulphide mineralization in the peridotite provide some evidence of conductivity and explain the high magnetic signature for this geophysical anomaly. Samples were selected from all visual mineralized sections, and were submitted for multi-element analysis, results from hole NOT-08-1G26 are pending. No significant base metal or precious metal values have been received to date.
AT5 Anomaly
The AT5 anomaly is located approximately 1.1 kilometers east of the Eagle One deposit. This anomaly is described as a 500 meter long, 100 meter wide moderate to strong magnetic anomaly, with weak electromagnetic responses to various airborne and ground geophysical surveys. Two completed holes and one lost hole totaling 675 meters were drilled to test this anomaly as outlined in the following Table.
AT6 Anomaly
The AT6 anomaly is located approximately 2.0 kilometers northeast of the Eagle One deposit. This anomaly is described as a string of electromagnetic anomalies over 450 meters on the southern flank of a prominent magnetic anomaly. Three holes totaling 1,317 meters were completed while testing this anomaly as outlined in the following Table.
All three holes drilled to date on this anomaly have encountered sulphide mineralization that is interpreted to be iron formation style mineralization. Observed mineralization occupies a steeply south-east dipping series of cherty, narrow meta-volcanic beds where pyrite, pyrrhotite and chalcopyrite are present. The mineralized intervals encountered in these holes are being sampled for this respective metal content and assays are pending. No further work is contemplated at present here.
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A thorough quality control program has been in effect for the Double Eagle project which includes grouping samples into batches of 35 into which are added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. Coarse reject and pulp duplicates also form part of the QC program. Approximately 10% of the samples are sent to a secondary lab as a monitor on the principal lab. It can be said with confidence that all assays as reported in this Press Release have passed the strict quality control guidelines as set out by Noront's an independent Qualified Person ("IQP").
All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digest followed by ICP-analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. For more information on assay methodology please visit the Activiation Laboratories Ltd. Website at http://www.actlabsint.com
Drilling results in this press release have been reviewed in the field and approved for dissemination by Noront's senior management including John Harvey, P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's new Chief Geologist, both being Qualified Persons under Canadian Securities guidelines. Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,493,883 shares issued to date.
Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updated in real time.
ON BEHALF OF THE BOARD OF DIRECTORS:
R. Nemis, President and Chief Executive Officer
This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
[FONT=Verdana,Arial,Helvetica,sans-serif]CONTACT INFORMATION:[/FONT]
[FONT=Verdana,Arial,Helvetica,sans-serif]Noront Resources Ltd.
Neil Novak P.Geo.
(416) 864-1456
Fax: (416) 367-5444
Email: info@norontresources.com
Website: www.norontresources.com[/FONT]
I stumbled across this thread for the first time today. It was like reading a suspense novel, hoping that every day the stock would rise and that there would be a great ending. I see the stock has fallen and I hope that those who hold on have great benefits from this in the future. My question is what happened to dougconnection? He started this thread and encouraged everyone to buy buy buy for months. He uplifted everyone's confidence in this stock. This guy has posted in a long time. Even he has lost faith in this stock. This guy is an asshole. dougconnection you lack balls and you are a coward. You did the same thing when you predicted a 28 point Ohio State win against Florida in a thread and never was heard of again. The rxers made fun of you and that thread for close to a year because you hid away from the thread. You are a fuking shmuck.
Welcome Alwayslosing, I am greatful for Doug sharing this stock with the fourm & wish him well in all his investment & his life. When one invests it is up to you to do your own DD, yes it would of been nice if Doug would post updates if he still believes this stock is going to be a winner or if he jumped ship. With the DD I have done & with others sharing info, I expect this stock to do very well in the next 1 to 1 in a half years. Will there be peaks & valley, hell yes. I just wish I had the nerve to trade in & out on the peaks & valleys as some on here do. But I'm affraid I'll get caught out in the cold if there is another hit with grades like DE1 would be released while on the side line. Here's a post from AB for your reading enjoyment. Have a good night & here's to another up day in NOSOF:toast:
Enough is Enough
Posted by: d12 on July 17, 2008 09:21PM
A week ago we were all upset about NOT's share price. We all knew it was undervalued but it was drifting. What would the catalyst be to drive it much higher? We were down in the dumps thinking the manipulators were having their way with our stock. And they were, but suddenly we capitulated. Why? Was it the rumour of another hit? Or was it technically time? Who cares, we reversed. Today we get news of another strike at AT-12. I want to ask a simple question.
1. one week ago if you could have one wish for this stock, what would it be? What would be the best possible thing for the SP?
answer:
I'm going to take the liberty and answer it. The biggest catalyst for this stock is an external hit to Eagle 1. Well, we got it folks. We now have AT-12 with a 29 meter intersect. At this moment in time there isn't a single thing that is more positive for this companies short and long term success. The market wanted more, and they got it. It's ok to be happy folks. This is the news that we wanted, why are we questioning it? OH, its the Eagle 2 results, right???
WRONG, WRONG, WRONG.
I am stunned at what I am hearing people say tonight about Eagle 2. Mucker, you are either lying or you are not doing your research. These grades are economical. They are not great, but they are decent. These are tonnage adders. But by far the biggest issue I am having when reading the posts tonight is that people are writing Eagle 2 off. Whoa, whoa, whoa.
Does anyone realize these holes were drilled months and months ago? Does anyone realize these holes were not expected to excite? Here's a quote from the May.27 release:
"Latest drilling at Eagle Two (Anomaly AT2) continues to delineate, at depths now exceeding 400 meters vertically below surface, significant copper - nickel mineralization. The most visually impressive and deepest core intercepts of mineralization have been encountered in some of the most recently completed holes, indicating significant improvement with depth".
The holes released today were not the deep holes they are talking about above. They were talking about holes 40 and beyond. The release today was for holes 20 to 25. They already knew these holes weren't great. They were just average. It plainly states in the release that assays are pending for holes 42 to 52. These are the deeper holes that the above bolded paragraph is alluding to. NOW, why on earth do you think they aren't ready yet???? Is it possible they are being re-assayed? We will see. But for people to be writing off Eagle 2 for Ni/Cu before you see the holes management wants you to see is ludicrus. Please folks, read, read, read. Don't jump to conclusions or listen to bashers. You have to do something for yourselves.
With the delays everyone is getting easily confused. They are assuming the recent Eagle 2 holes are recently drilled. The fact of the matter is that even holes 40 to 52 were drilled around the end of May. So, where are we now? Why are we still drilling it? We aren't even close to being caught up on the more significant holes. I have had many conversations with both Nemis and Novak and they have stated that they will be drilling Eagle 2 for months to come and things are getting better.
These holes were expected. Its the next round of assays that are going to be interesting. The May.27th release pointed out that things were getting exciting after holes 40 and 41. I believe they added these holes to this release because they knew they weren't strong enough to stand on their own so they threw them in with the AT-12 strike. I think it was a great strategy.
I imagine the next batch of results will be much stronger. But this isn't just a guess, THEY SERVED IT UP ON A SILVER PLATTER FOR US. I urge everyone to reread all the releases and digest them.
Another comment I wanted to point out is that there are two seperate ore bodies at Eagle 2. There is Eagle 2, the Ni/Cu body and Blackbird1, the chromite body. Eagle 2 DID NOT turn into Blackbird1, they are seperate. This is straight from Mr. Nemis. We have two seperate occurences. So please keep this in mind, they are not the same deposit.
Blackbird1 could end up being the largest chromite deposit in the world. It is early at this point, but all indications thus far are extremely positive. This thing could be worth MANY, MANY billions. Yes, I said Billions! Nemis has already talked with many majors in the chrome industry. They have taken notice of this major discovery. Once the 43-101 is released the company will be able to discuss this much more openly. The market will understand soon enough.
I fully expect the bashers to be out in full force for the next few days. Afterall, we have just hit another Ni/Cu deposit 8+ km's away from Eagle 1. LOL. They will be pulling out all the stops trying to say that it isn't good news. I urge everyone to stop and think a little. What better news could we have gotten??? There is none. The bashers are going to try and point out that its too early to tell if AT-12 will be big or not. Of course its too early to tell but every deposit starts with a few holes. Well, we have our few holes. Now its time to discover its size. All I know for a fact is that at this point in time, this is the biggest catalyst for this stock....................don't let anyone tell you otherwise. Hold your shares tight. Take care all and remember, its ok to be happy. Its our time to shine.
sincerely,
d12
Enough is Enough
Posted by: d12 on July 17, 2008 09:21PM
A week ago we were all upset about NOT's share price. We all knew it was undervalued but it was drifting. What would the catalyst be to drive it much higher? We were down in the dumps thinking the manipulators were having their way with our stock. And they were, but suddenly we capitulated. Why? Was it the rumour of another hit? Or was it technically time? Who cares, we reversed. Today we get news of another strike at AT-12. I want to ask a simple question.
1. one week ago if you could have one wish for this stock, what would it be? What would be the best possible thing for the SP?
answer:
I'm going to take the liberty and answer it. The biggest catalyst for this stock is an external hit to Eagle 1. Well, we got it folks. We now have AT-12 with a 29 meter intersect. At this moment in time there isn't a single thing that is more positive for this companies short and long term success. The market wanted more, and they got it. It's ok to be happy folks. This is the news that we wanted, why are we questioning it? OH, its the Eagle 2 results, right???
WRONG, WRONG, WRONG.
I am stunned at what I am hearing people say tonight about Eagle 2. Mucker, you are either lying or you are not doing your research. These grades are economical. They are not great, but they are decent. These are tonnage adders. But by far the biggest issue I am having when reading the posts tonight is that people are writing Eagle 2 off. Whoa, whoa, whoa.
Does anyone realize these holes were drilled months and months ago? Does anyone realize these holes were not expected to excite? Here's a quote from the May.27 release:
"Latest drilling at Eagle Two (Anomaly AT2) continues to delineate, at depths now exceeding 400 meters vertically below surface, significant copper - nickel mineralization. The most visually impressive and deepest core intercepts of mineralization have been encountered in some of the most recently completed holes, indicating significant improvement with depth".
The holes released today were not the deep holes they are talking about above. They were talking about holes 40 and beyond. The release today was for holes 20 to 25. They already knew these holes weren't great. They were just average. It plainly states in the release that assays are pending for holes 42 to 52. These are the deeper holes that the above bolded paragraph is alluding to. NOW, why on earth do you think they aren't ready yet???? Is it possible they are being re-assayed? We will see. But for people to be writing off Eagle 2 for Ni/Cu before you see the holes management wants you to see is ludicrus. Please folks, read, read, read. Don't jump to conclusions or listen to bashers. You have to do something for yourselves.
With the delays everyone is getting easily confused. They are assuming the recent Eagle 2 holes are recently drilled. The fact of the matter is that even holes 40 to 52 were drilled around the end of May. So, where are we now? Why are we still drilling it? We aren't even close to being caught up on the more significant holes. I have had many conversations with both Nemis and Novak and they have stated that they will be drilling Eagle 2 for months to come and things are getting better.
These holes were expected. Its the next round of assays that are going to be interesting. The May.27th release pointed out that things were getting exciting after holes 40 and 41. I believe they added these holes to this release because they knew they weren't strong enough to stand on their own so they threw them in with the AT-12 strike. I think it was a great strategy.
I imagine the next batch of results will be much stronger. But this isn't just a guess, THEY SERVED IT UP ON A SILVER PLATTER FOR US. I urge everyone to reread all the releases and digest them.
Another comment I wanted to point out is that there are two seperate ore bodies at Eagle 2. There is Eagle 2, the Ni/Cu body and Blackbird1, the chromite body. Eagle 2 DID NOT turn into Blackbird1, they are seperate. This is straight from Mr. Nemis. We have two seperate occurences. So please keep this in mind, they are not the same deposit.
Blackbird1 could end up being the largest chromite deposit in the world. It is early at this point, but all indications thus far are extremely positive. This thing could be worth MANY, MANY billions. Yes, I said Billions! Nemis has already talked with many majors in the chrome industry. They have taken notice of this major discovery. Once the 43-101 is released the company will be able to discuss this much more openly. The market will understand soon enough.
I fully expect the bashers to be out in full force for the next few days. Afterall, we have just hit another Ni/Cu deposit 8+ km's away from Eagle 1. LOL. They will be pulling out all the stops trying to say that it isn't good news. I urge everyone to stop and think a little. What better news could we have gotten??? There is none. The bashers are going to try and point out that its too early to tell if AT-12 will be big or not. Of course its too early to tell but every deposit starts with a few holes. Well, we have our few holes. Now its time to discover its size. All I know for a fact is that at this point in time, this is the biggest catalyst for this stock....................don't let anyone tell you otherwise. Hold your shares tight. Take care all and remember, its ok to be happy. Its our time to shine.
sincerely,
d12
joelatti. this post is more like it ! POSITIVE!!!!
no offense but a lot of your post's were so negative i think it was beating the stock down.
if you noticed lor has been positive all along.
EVERYBODY STAY POSITIVE LIKE LOR AND THIS STOCK WILL BE HUGE!!!!
NO offense taken BUT my posts were NOT beating down anything...The stock price was down because institutions were selling, in fcat the SP is still WAYYY down.......I'll continnue to post as I see it, there is NO need to stay positive if the stock stinks...I was ONLY trying to save people some money and I always said to buy the stock back when it dipped below $3.....Let's go UP!!!
LOR......its NOT easy to do, but if you really feel the stock has long legs and is getting creamed for no reason...Sell SOME shares and buy back as it drops NOONE can predict the top or bottom, but if you can get out at a profit and then back in lower you are making a sig. profit all the while the stock stays about the same...AND you always are holding about Half of your initial position in case the thing sky rockets........By the way you are following this stock so well....You would probably know if and when it might be lift off time....I am a bit disapointed that we didn't get a nice bump from the news,..but hey we never do...ONE day we will!
Here's an update from the source FNC.V = FNCJF in the US.
Noront has 1 drill that is dedicated to drilling the chromite deposit. Management and the geo team still find the chromite interesting.
The other drill is back at AT1 (this is not Eagle 1). They drilled there earlier but didn't go deep enough. The down hole geophysics and electromags look very interesting.
AT1 is very close to the Fancamp (FNC.V) property. As well FNC has secured a drill rig of their own and they have a beautiful target of their own to drill. FNC.V could have a drill going in the next 5-10 days.
Noront has 1 drill that is dedicated to drilling the chromite deposit. Management and the geo team still find the chromite interesting.
The other drill is back at AT1 (this is not Eagle 1). They drilled there earlier but didn't go deep enough. The down hole geophysics and electromags look very interesting.
AT1 is very close to the Fancamp (FNC.V) property. As well FNC has secured a drill rig of their own and they have a beautiful target of their own to drill. FNC.V could have a drill going in the next 5-10 days.
Hey Lor, how's it going? This stock of our's is just NUTS! I have been doing stocks for a long time and this stock is something that is not normal. I now have 10,000 shares of NOSOF now at an average cost of about $4.00. I am done buying anymore stock. I just have a bad feeling that I will have to get out of this stock in the near future and it might just cost me alot of money. My goal was to hold for a couple of years since I will not be retiring for another 15 years but, I just don't want to lose alot of money on a stock that is this nuts. Lor, give me some advice and not like the ROSE colored crap that is done on the Agoroman board. Boy, that fourm is something. If you say anything that is not to there liking you just get pounded. No free speech on that board. Some of those guys there are brutal. I just read the post there now, tired of getting pounded all of the time. So, since you have a "Source in the mix", can you please give me some hard core info that will mean something and maybe give me the insight to know when to fold or hold this stock because we were all right from the start and this is the next big thing and RN is for real and not just a peddler for his company. Well, enough for now. Please help out a fellow stock holder and give me some good advice. Thanks Joe
Hi Lovetowin, I really can't give you any advice on when to buy or sell. AB is a one sided board but there is allot of good info & very knowledgeable people that post there, I have learned allot from reading that board. I can tell you I will not be selling anytime soon. I share info I come accross with this board and then you have to do what is right for you. If you read the Voisey Bay story or go back a couple of pages on this form you will see their stock price ran just like NOSOF is. This is the early stage of NOSOF and the price will be up & down, for how long I don't know. There are allot of drills turning in the Ring of Fire and if they find the Granddaddy of them all, the stock price will go to the moon. At this stage I believe the risk/ reward is on the side of reward. You have time on your side with 15 years till retirement and way before that I expect NOSOF will be bought out by a major company. Hopefully for allot more money than our current stock price. Hope this helps you some, Lor
NEW Genuity report...sorry its messy
Posted by: Goldilox on July 23, 2008 09:44AM
Investment thesis
• On July 17, 2008, Noront released visual drill results from a new Ni-Cu discovery "AT12" on its Double Eagle project, northern Ontario, Canada –
It is significant that NOT has documented signs of a potential new nickel-copper sulphide system 9.5km northeast of its high grade Eagle One deposit.
•
Early days with only two holes at AT12, but it is in a similar geological setting as Eagle One – The new discovery at AT12 consists of nickel-copper "disseminated to semi-massive sulphide mineralization", so we do not expect the ultrahigh Ni grades of Eagle One massive sulphide mineralization. However, it is only two holes and the host peridotite and footwall granodiorite are similar to Eagle One.
•
Eagle Two now documented to a vertical depth of 660m, but grade is still low with no PGEs – Additional results from Eagle Two certainly suggest a large Ni-Cu system, but the grades continue to be low for all metals.
•
Catalysts in the near term – AT12 assay results and follow-up drilling will be the focus in the near term, along with drilling south of Eagle One. We will also watch for NOT to announce VTEM survey results, as we believe VTEM is the superior EM technique for the exploration of Ni-Cu sulphide deposits.
• We continue to view NOT’s Eagle One Ni-Cu-PGE discovery and regional potential to be part of a new potential Nickel district. The recent AT12 discovery attests to the under-explored nature of the Ring of Fire and its high attendant discovery rate, given limited drilling to date. We reiterate our
BUY recommendation and $7.00 target price. NOT is Speculative and suitable for risk tolerant investors only.
Exhibit 1: Synopsis of Double Eagle drill results
Zone/ Target
Purpose and number
Results
Genuity
of drill holes
Comments
AT12
three holes (approximately 550 m) to test a strong coincident magnetic - conductive target
-two holes encountered lengths of "intermittent disseminated and semi-massive copper-nickel-iron sulphide mineralization", with up to 3.73m semi-massive sulphides; peridotite host with a granodiorite footwall
Positive
– good, new Ni-Cu mineralization in a similar geological setting to Eagle One. Will there be platinum +/- palladium associated with this sulphide occurrence?
-assays pending
-the third hole is still being drilled
Eagle 2 / AT2
32 holes completed (11,719 m) and two holes pending to assess the Shear Hosted Sulphide (SHS) to a vertical depth of 660m and to test Layered Chrome occurrences
-best result is 1.4% Ni and 0.16% Cu over 6.2m
Negative
- assay results show low copper-nickel grades and low Pt-Pd values; this is consistent with previous Eagle Two results
-chromium results are pending, to be reported separately
AT3
eight holes (2,621 m) testing an EM anomaly
-visual only results-"locally mineralized with disseminated sulphides"
Negative
- conductor may be explained by magnetite
AT5
two completed holes and one lost hole (675 m) to test a 500 meter long by 100 meters wide moderate to strong magnetic anomaly and weak EM
-core contained only minor sulphides observed over short intervals
Negative
- conductor only associated with minor sulphide mineralization
AT6
three holes (1,317 m) to test a strong of EM anomaly on the southern flank of a prominent magnetic anomaly
-encountered sulphide mineralization that is interpreted to be iron formation style mineralization
Negative
- no further work is being contemplated; we assume this anomaly is no longer be considered a target as it may not be the right setting
Impact – Mixed
Positive - Although the AT12 discovery is currently in its very early stages and, in the end, may not necessarily be related to a deposit, we believe the discovery further validates the high discovery potential of this new Ring of Fire belt. It also validates the effectiveness of EM techniques as a direct detection exploration approach.
Negative – Eagle Two continues to be documented as a mineralized system to depth, however, massive sulphides have not been intersected and recent results have low Ni-Cu-Pt-Pd values.
416.603.6000 4 Genuity Capital Markets www.genuitycm.com 416.603.6000 5
Near-term catalysts
1. Assay results from AT12
2. Ongoing drilling at AT2
3. Expansion drilling at Eagle One –
4. VTEM airborne survey results -
5. Assay results from Blackbird Two chromitite
– The chromite assays from the layered chromite mineralization are expected to be reported soon in a separate news release. We expect VTEM anomalies to be documented on Noront’s Double Eagle property and for high priority targets to emerge.
We expect NOT to start drilling to the south of Eagle One in an attempt to expand the deposit and find new massive sulphide pods.
– True widths of occurrences and further results on ongoing holes.
– If AT12 has significantly elevated Pt-Pd assays, then we expect AT12 to become NOT’s top target outside of Eagle One, as we believe the PGEs are an important value driver.
Valuation and recommendation
We continue to view NOT’s Eagle One Ni-Cu-PGE discovery and regional potential to be part of a new potential Nickel district. The recent AT12 discovery attests to the under-explored nature of the Ring of Fire and its high attendant discovery rate, given limited drilling to date. We reiterate our
BUY recommendation and $7.00 target price. NOT is Speculative and suitable for risk tolerant investors only.
Genuity Capital Markets www.genuitycm.com 416.603.6000 6
Member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund
Participating Organization of the Toronto Stock Exchange and Toronto Venture Exchange
Noront paid for some of the travel costs associated with an April 2008 site visit conducted by the analyst to the Double Eagle project, Ontario.
Analyst’s Certification
I, Michael Gray, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.
THE FIRM THAT PREPARED THIS REPORT MAY NOT BE SUBJECT TO U.S. RULES WITH REGARD TO THE PREPARATION OF RESEARCH REPORTS AND THE INDEPENDENCE OF ANALYSTS.
Re: NEW Genuity report
Posted by: QQ_Girl on July 23, 2008 10:43AM
In response to: NEW Genuity report...sorry ... by Goldilox
here's a little more info from the report you might find interesting - this was as of July 18th.08
Shareholders
5% Mgmt
~9.7% Pinetree Cap
~9% Sprott Asset Mgmt
Debt = 0
Cash ($mm)= $42
FD Cash ($mm)= $65
12 month burn rate ($mm)= $30
QQ
Posted by: Goldilox on July 23, 2008 09:44AM
Investment thesis
• On July 17, 2008, Noront released visual drill results from a new Ni-Cu discovery "AT12" on its Double Eagle project, northern Ontario, Canada –
It is significant that NOT has documented signs of a potential new nickel-copper sulphide system 9.5km northeast of its high grade Eagle One deposit.
•
Early days with only two holes at AT12, but it is in a similar geological setting as Eagle One – The new discovery at AT12 consists of nickel-copper "disseminated to semi-massive sulphide mineralization", so we do not expect the ultrahigh Ni grades of Eagle One massive sulphide mineralization. However, it is only two holes and the host peridotite and footwall granodiorite are similar to Eagle One.
•
Eagle Two now documented to a vertical depth of 660m, but grade is still low with no PGEs – Additional results from Eagle Two certainly suggest a large Ni-Cu system, but the grades continue to be low for all metals.
•
Catalysts in the near term – AT12 assay results and follow-up drilling will be the focus in the near term, along with drilling south of Eagle One. We will also watch for NOT to announce VTEM survey results, as we believe VTEM is the superior EM technique for the exploration of Ni-Cu sulphide deposits.
• We continue to view NOT’s Eagle One Ni-Cu-PGE discovery and regional potential to be part of a new potential Nickel district. The recent AT12 discovery attests to the under-explored nature of the Ring of Fire and its high attendant discovery rate, given limited drilling to date. We reiterate our
BUY recommendation and $7.00 target price. NOT is Speculative and suitable for risk tolerant investors only.
Exhibit 1: Synopsis of Double Eagle drill results
Zone/ Target
Purpose and number
Results
Genuity
of drill holes
Comments
AT12
three holes (approximately 550 m) to test a strong coincident magnetic - conductive target
-two holes encountered lengths of "intermittent disseminated and semi-massive copper-nickel-iron sulphide mineralization", with up to 3.73m semi-massive sulphides; peridotite host with a granodiorite footwall
Positive
– good, new Ni-Cu mineralization in a similar geological setting to Eagle One. Will there be platinum +/- palladium associated with this sulphide occurrence?
-assays pending
-the third hole is still being drilled
Eagle 2 / AT2
32 holes completed (11,719 m) and two holes pending to assess the Shear Hosted Sulphide (SHS) to a vertical depth of 660m and to test Layered Chrome occurrences
-best result is 1.4% Ni and 0.16% Cu over 6.2m
Negative
- assay results show low copper-nickel grades and low Pt-Pd values; this is consistent with previous Eagle Two results
-chromium results are pending, to be reported separately
AT3
eight holes (2,621 m) testing an EM anomaly
-visual only results-"locally mineralized with disseminated sulphides"
Negative
- conductor may be explained by magnetite
AT5
two completed holes and one lost hole (675 m) to test a 500 meter long by 100 meters wide moderate to strong magnetic anomaly and weak EM
-core contained only minor sulphides observed over short intervals
Negative
- conductor only associated with minor sulphide mineralization
AT6
three holes (1,317 m) to test a strong of EM anomaly on the southern flank of a prominent magnetic anomaly
-encountered sulphide mineralization that is interpreted to be iron formation style mineralization
Negative
- no further work is being contemplated; we assume this anomaly is no longer be considered a target as it may not be the right setting
Impact – Mixed
Positive - Although the AT12 discovery is currently in its very early stages and, in the end, may not necessarily be related to a deposit, we believe the discovery further validates the high discovery potential of this new Ring of Fire belt. It also validates the effectiveness of EM techniques as a direct detection exploration approach.
Negative – Eagle Two continues to be documented as a mineralized system to depth, however, massive sulphides have not been intersected and recent results have low Ni-Cu-Pt-Pd values.
416.603.6000 4 Genuity Capital Markets www.genuitycm.com 416.603.6000 5
Near-term catalysts
1. Assay results from AT12
2. Ongoing drilling at AT2
3. Expansion drilling at Eagle One –
4. VTEM airborne survey results -
5. Assay results from Blackbird Two chromitite
– The chromite assays from the layered chromite mineralization are expected to be reported soon in a separate news release. We expect VTEM anomalies to be documented on Noront’s Double Eagle property and for high priority targets to emerge.
We expect NOT to start drilling to the south of Eagle One in an attempt to expand the deposit and find new massive sulphide pods.
– True widths of occurrences and further results on ongoing holes.
– If AT12 has significantly elevated Pt-Pd assays, then we expect AT12 to become NOT’s top target outside of Eagle One, as we believe the PGEs are an important value driver.
Valuation and recommendation
We continue to view NOT’s Eagle One Ni-Cu-PGE discovery and regional potential to be part of a new potential Nickel district. The recent AT12 discovery attests to the under-explored nature of the Ring of Fire and its high attendant discovery rate, given limited drilling to date. We reiterate our
BUY recommendation and $7.00 target price. NOT is Speculative and suitable for risk tolerant investors only.
Genuity Capital Markets www.genuitycm.com 416.603.6000 6
Member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund
Participating Organization of the Toronto Stock Exchange and Toronto Venture Exchange
Noront paid for some of the travel costs associated with an April 2008 site visit conducted by the analyst to the Double Eagle project, Ontario.
Analyst’s Certification
I, Michael Gray, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.
THE FIRM THAT PREPARED THIS REPORT MAY NOT BE SUBJECT TO U.S. RULES WITH REGARD TO THE PREPARATION OF RESEARCH REPORTS AND THE INDEPENDENCE OF ANALYSTS.
Re: NEW Genuity report
Posted by: QQ_Girl on July 23, 2008 10:43AM
In response to: NEW Genuity report...sorry ... by Goldilox
here's a little more info from the report you might find interesting - this was as of July 18th.08
Shareholders
5% Mgmt
~9.7% Pinetree Cap
~9% Sprott Asset Mgmt
Debt = 0
Cash ($mm)= $42
FD Cash ($mm)= $65
12 month burn rate ($mm)= $30
I'm proud to announce that my husband & I became first time grandparent on 7/22/08 of a baby girl. What a joy like no other I've ever experienced. Mom and baby are doing great! Now all I need is NOSOF SP to go to the moon so I can be a stay at home grandmother. Then I would have more time to do what grandmothers do best, spoil her and then send her home with their parents.
