THUNDER BAY – Wes Hanson, the CEO of Noront states, “Drilling at Blackbird exceeded expectations, resulting in a tripling of the previous resource estimate at Blackbird but more importantly, converting a large percentage of the deposit to the measured and indicated classification. The updated estimate demonstrates that Blackbird is similar in size and grade to the nearby Big Daddy and Black Thor chromite deposits”.
“The close proximity of Blackbird to our flagship Eagle’s Nest nickel sulphide deposit offers exceptional synergies as both deposits can be exploited using the same underground infrastructure, limiting the incremental capital cost while minimizing the environmental footprint. The Company intends to complete an internal evaluation of a northwest Ontario based mine, mill and smelter facility capable of producing between 200,000 and 250,000 tonnes of high quality ferrochrome annually, approximately equal to current North American imports, which originate from South Africa.”
Noront is stating that an updated, independent Mineral Resource Estimate for it’s 100% owned Blackbird chromite deposit at the Company’s McFaulds Lake Project, in the Ring of Fire, James Bay Lowlands, Ontario.
Micon International Ltd. (“Micon”), an independent consulting engineering company, completed the resource estimate. The estimate is classified according to the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards on Mineral Resources and Mineral Reserves which have been incorporated by reference in the Canadian Securities Administrators (“CSA”) National Instrument 43-101, Standards for Disclosure for Mineral Projects.