Noront Resources – Exploration Update for Noront McFaulds No.8 VMS Discovery

Noront Resources
Noront Resources

TORONTO – BUSINESS – Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to provide an update on the Phase-2 summer exploration program at its 85% owned McFaulds VMS property in the Ring of Fire.

The copper-zinc focused diamond drill program, completed in July, tested the down-dip continuity of the McFaulds No.8 VMS deposit, which previously returned 26.4 meters of massive sulfide grading 2.1% copper, 3.4% zinc, 5.5 grams per tonne silver and 0.2 grams per tonne gold in hole MCF-18-98.

Highlights include 10.1 meters grading 3.3% copper in hole MCF-19-103 which intersected the McFaulds No.8 deposit 215 meters down-dip from hole MCF-18-98 representing the largest step-out intersection at McFaulds No.8 to date.

Hole MCF-19-103 was targeted using a bore-hole electromagnetic (BHEM) plate modeled from the earlier winter 2019 Phase-1 drilling results which indicated a pronounced change in the orientation of the mineralization at McFaulds No.8 from a near-vertical plunge to a moderate north-easterly plunge (See Figure 1). Copper-rich stockwork mineralization was intersected deeper than anticipated due to a steepened dip of the mineralization, which is hosted in strongly chlorite altered felsic volcanic flow rocks more typically observed in the footwall assemblages further up-dip. Alteration consists of intense chlorite-magnetite replacement within an 80-meter sequence of the host felsic volcanics and returned the highest alteration index encountered to date at McFaulds No.8. BHEM surveying of MCF-19-103 identified a strong conductor up-dip from the intersection correlating with the known massive sulfide mineralization at MCF-18-98.

“We believe we are now into the copper-rich stockwork zone of this VMS deposit based on the banded form and copper-rich nature of this intersection, the intensity and width of hydrothermal alteration, and the marked change in orientation and stratigraphic position of the mineralization in MCF-19-103 compared with holes further up-dip,” said Noront Vice President Exploration, Ryan Weston.

To date, 8 drill holes totaling 5,300 meters have intersected the McFaulds No.8 VMS deposit over a dip extent of roughly 600 meters (See Figure 1), defining copper-zinc mineralization to a vertical depth of 830 meters below the surface. The deposit remains open along strike and at depth. Table 1 provides a summary of intersections at McFaulds No.8 including results from hole MCF-19-103.

Table 1
McFaulds No.8 Drill Hole Intersections to Date
Drill Hole Hole Length
(m)
From
(m)
To (m) Width
(m)
Cu
(%)
Zn
(%)
Ag
(g/t)
Au
(g/t)
MCF-17-88 610.3 557.3 566.3 9.0 2.0 3.6 7.8 0.4
573.5 575.0 1.5 0.5 2.2 1.7
MCF-17-89 566.0 486.3 497.2 10.9 1.1 1.7 10.9 0.4
510.3 513.9 3.6 1.2 1.1 7.7 0.1
MCF-18-92 503.0 447.9 454.6 6.7 1.3 5.9 10.3 0.5
MCF-18-95 431.0 388.1 391.1 3.0 0.2 5.3 1.7
MCF-18-96 675.0 614.0 622.5 8.5 1.9 2.0 6.2 0.3
MCF-18-98 783.0 707.3 733.8 26.4 2.1 3.4 5.5 0.2
MCF-19-102 788.0 660.0 680.0 20.0 2.0 0.1 4.8 0.1
MCF-19-103 944.0 866.0 867.1 10.1 3.3 NSV 6.5 0.2

Next steps include establishing a maiden 43-101 compliant mineral resource for McFaulds No.8 and evaluating further targets on the property, including the application of additional ground gravity surveys in 2019. Noront’s vision for the McFaulds property is to establish adequate copper-zinc resources through a collection of high-grade VMS deposits to support a central milling complex. The addition of the McFaulds No.8 deposit to the existing mineral inventory at McFaulds No.1 and No.3 significantly advances this goal.

Nickel Targeting Initiative
In conjunction with copper-zinc focused exploration programs on the McFaulds property, Noront is performing an extensive nickel compilation and targeting program on its properties throughout the Ring of Fire. The area possesses many geological traits favorable for magmatic nickel sulfide mineralization, including an abundance of ultramafic and mafic intrusive rocks and associated sulfur-bearing supracrustal sequences, major structures providing pathways through the crust, favorable magmatic plumbing systems in the form of shallow conduits, dykes and sills, and most importantly the presence of known mineralization including the Eagle’s Nest nickel-copper-PGE deposit and numerous other occurrences. To date, the compilation program has identified over 30 targets warranting further investigation. These targets will be reviewed in detail and ranked for priority follow-up in the new year.

Quality Assurance and Quality Control (QA/QC) Program

Noront maintains a strict QA/QC protocol for all its drilling programs. Core logging and sampling are 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 labeled and sealed in individual bags then grouped into batches for shipping to Thunder Bay via Nakina under the 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 analyzed 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.

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.