selkirk are you familiar with Noront Resouces

[LOR]

Noront Receives Assays From Earlier Holes and Significant Visuals From New Holes at Eagle Two Occurrence Part 2


EAGLE TWO (AT2 Anomaly)

In general terms, the number of mineralized zones encountered increases with depth as the drill-holes explore this Shear Hosted Sulphide ("SHS") zone. At greater depths the tenure of sulphide mineralization is greatest in holes 1G32 and 1G40. Assays for samples selected from Hole NOT-08-1G32, 1G35, 1G38, 1G39 and 1G40 are pending, however, Noront can report the following visual observations.

To date, 23 holes totaling 7,412.9 meters have now been completed at Eagle Two to assess the SHS occurrence discovered by Noront earlier this year (see press release dated February 25, 2008). Two additional holes are underway (Holes NOT-08-1G40 and NOT-08-1G41). The eight holes with assays reported herein and those completed since the last press release on April 2, 2008 have continued to extend the mineralization containing visible copper-nickel sulphides and chromitite to vertical depths of 350 meters and 400 meters respectively. Both zones (sulphides plus chromitite) occupy positions conformable with and near the stratigraphic bottom of a wide Peridotite Sill (that defines part of the Ring of Fire) which in turn unconformably overlies a Granodiorite older basement rock. Assays are pending for the more recent holes.

The recent drilling at Eagle Two has continued to return increasing widths from the SHS occurrence which thus far has consisted of intermittent bands and stringers of sulphide mineralization containing visible copper and nickel minerals with other less important sulphide minerals. From the narrow widths initially encountered in holes NOT-08-1G2 and NOT-08-1G3 near surface the SHS zone has been traced down a dip slope length of 450 meters or to a vertical depth of 350 meters. No attempt with the recent drilling has been made to define the lateral or horizontal length of the SHS zone at this time. Instead, the objective of the current drilling program at Eagle Two is to follow the mineralization to progressively greater depths in search of postulated pooled concentrations of copper - nickel sulphides lying on the basement rock as evidenced at Eagle One. With the increased widths of the mineralization and additional parallel zones encountered in drill holes numbered NOT-08-1G32, 1G35 1G38,1G39 and 1G40 as reported in the table below, Noront's geologists are encouraged with the depth potential being encountered.

Starting with Hole NOT-08-1G32, the 18.5 meter core width from the SHS zone was earlier preceded in the drill hole, 70 meters above by a new parallel 5 meter wide geologically similar appearing weakly mineralized copper - nickel stringer sulphide zone. Within the 18.5 meter SHS zone, 8.1 meters contains strongly mineralized Cu-Ni sulphides.

Hole NOT-08-1G35, a 50 meter horizontal step-out hole, down dip to the west, encountered, starting at 260 meters core length, a 60 meter upper zone of weakly mineralized stringer copper - nickel sulphide mineralization followed by the main SHS zone 55 meters below consisting of 13.3 meters of stringer copper - nickel mineralization, representing the continuation of the SHS zone. Of this 13.3 meter SHS zone 3.7 meters is considered to be moderately mineralized with respect to Cu-Ni sulphides.

Hole NOT-08-1G38 after encountering a 12 meter core length from the upper zone, starting at 117 meters, encountered the SHS zone a further 70 meters down the hole which returned a core width of 29.1 meters of stringer sulphide mineralization consisting of pyrrhotite, pentlandite and chalcopyrite as narrow (10 cm to 120 cm) intermittent mineralized zones in a talc-altered peridotite. Of this section 18.5 meters is considered to be moderately mineralized.

In Hole NOT-08-1G39 the SHS zone was encountered between 405 meters and 420 meters, consisting of narrow zones of Cu-Ni mineralization, with a moderately mineralized continuous section of Cu-Ni mineralization between 411.8 and 420 meters.

In Hole NOT-08-1G40 the SHS zone was encountered between 270.8 and 295.5 where there was a number of intermittent strongly mineralized narrow Cu-Ni zones with the strongest mineralization observed between 278.3 meters and 295.5 meters.

Management believes that the recent drill hole results, with the presence of visible copper - nickel sulphide and chromite mineralization being observed by the geologists on site is very encouraging, and could be of significant importance for Noront, if the assays pending are favourable. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.

EAGLE ONE AND TWO GEOLOGICAL MODEL

On-going exploration work at the Double Eagle project is partly predicated upon a conceptual model of the mineralizing systems associated with the Ring of Fire, developed by Noront's technical team including its independent consultants, such as Wayne Ewert Ph.D., P.Geo of P&E Mining Consultants. This theoretical model has been formulated by incorporating recent drill data along with geophysical, geological and other technical survey results on the project to date. Salient features from other established geological models for similar mineralizing systems from around the world have also been incorporated into the conceptual model, which is in a constant state of revision as new data becomes available. Key points of the Ring of Fire conceptual model are as follows;

- A mantle derived, highly magnetic ultramafic "peridotite" intrusion ("the Ring of Fire Intrusion" or "RFI") has been emplaced along the margin of a regional scale granodiorite pluton which had been intruded into and caused a doming of the host Sachigo greenstone belt rocks. The RFI is thus situated between the granodiorite on one hand (footwall) and the surrounding Sachigo Greenstone Belt rocks (hangingwall) on the other. The RFI is magnetically distinct allowing it to be traced more or less uninterrupted, for tens of kilometers along the granodiorite margin. It appears that a series of conduits cutting across and through the granodiorite have acted as feeders to the RFI.

- On a world-wide basis ultramafic intrusions, similar to the RFI, are known to host several types of deposits such as:

-- Layered chromite deposits

-- Nickel-Copper deposits

-- Platinum Group Metals ("PGM") deposits.

- Recent drilling within the Ring of Fire area confirms that both PGM-rich Ni-Cu deposits (Eagle One and possibly Eagle Two) and now chromite occurrences are associated with the RFI and its related conduit feeder system. As would be expected under the conceptual model, on-going drilling by Noront and published results from other junior companies working in the area, suggest that the layered chromite mineralization is likely to be confined strictly to the RFI, while the platinum rich Ni-Cu sulphide mineralization appears, at least at this stage of exploration, to be related to the conduit feeders, localized in pools or traps. Based on observations from similar intrusives globally there is no reason, at least conceptually, why Ni-Cu or PGM deposits could not be hosted by the RFI itself. The exploration potential in this regard remains to be tested.

- Using the conceptual model, the Eagle One deposit would be interpreted to occur within a conduit feeder, at some distance from the RFI. The Eagle Two discovery on the other hand is interpreted under the conceptual model as occurring within the "throat or mouth" portion of the conduit where it empties into the RFI. The mineralization yielded by Noront's results at this point in the system consists of mineralized zones that contain numerous thin (10 cm to 120 cm) Ni-Cu bearing sulphide layers occupying a shear zone that collectively amass to 10's of meters thick "fingers" that "feather" out into the RFI. Individual semi-massive to massive sulphide lenses within the SHS zone attain core lengths of up to 7 meters.

- The most recent drilling (holes NOT-08-1G32, 1G35, 1G38, 1G39 and 1G40) at Eagle Two suggests that the zone of finger-style mineralization is coalescing and increasing in overall thickness as it is drill tested along strike to the northwest, presumable into a conduit that is part of the original feeder system. The sulphide mineralization is also interpreted as moving away from the Chromite mineralization further suggesting that the Eagle 2 mineralizing environment is moving further away from the RFI and into a possible feeder conduit environment similar to that observed at Eagle One.

- Noront management feels that the drill results obtained to date at Eagle Two are consistent with the conceptual model it has developed to date, which would suggest that there is potential for the discovery of another Eagle One - type deposit, as the Eagle Two mineralization is traced northwestward into a possible feeder conduit. The potential for both Chromite and Ni-Cu deposits within the RFI itself remains virtually untested.

The SHS zone, dipping flatly approximately 50 to 60 degrees to the west and striking north-south within the Peridotite Sill has been intersected on UTM Section 5841875 north to 5842100, a total strike length (drilled to date) of 225 meters. Widths are variable in the erratically spaced drill holes completed thus far and the assay widths reported below in the first four holes also share erratic distribution of the significant minerals. The results reported below are considered by management to be very encouraging for this near surface mineralization. Notwithstanding that these results appear to confirm management's conceptual theories, there can be no guarantee of actual results, which may differ from management's expectations.


EAGLE TWO TABLE OF ASSAYED DRILL HOLES RECEIVED TO DATE---------------------------------------------------------------------------Hole # from to interval Copper Nickel Platinum Palladium (m) (m) (m) (%) (%) (g/t) (g/t)---------------------------------------------------------------------------NOT-08-1G2 34.0 68.0 34.0 0.09 0.62 0.01 0.22--------------------------------------------------------------------------- including 34.0 39.0 5.0 0.06 0.38 0.03 0.15--------------------------------------------------------------------------- followed by 39.0 43.0 4.0 0.21 1.44 0.00 0.37--------------------------------------------------------------------------- followed by 43.0 68.0 25.0 0.07 0.55 0.02 0.22------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08-1G3 42.3 47.9 5.6 0.21 2.24 0.02 1.38------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08-1G6 114.7 123.8 9.1 0.06 0.69 0.05 0.28------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08-1G8 124.0 129.5 5.5 0.33 1.98 0.01 0.45------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08-1G15 NSA------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08-1G16 NSA------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08-1G17 136.8 144.1 7.3 0.13 0.59 0.01 0.09------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08-1G22 196.5 211.1 14.6 0.08 0.58 0.04 0.23--------------------------------------------------------------------------- including 196.5 201.6 5.1 0.13 1.00 0.04 0.39--------------------------------------------------------------------------- followed by 201.6 211.1 9.5 0.06 0.35 0.03 0.14---------------------------------------------------------------------------


As stated above widths are variable for these reported mineralized drill intercepts, therefore there is no true width estimate available until such time as this new occurrence gets additional drill testing. NSA refers to no significant assays

Management believes that the recent drill hole results, with the presence of visible copper - nickel sulphide and chromite mineralization being observed by the geologists on site is very encouraging, and could be of significant importance for Noront, if the assays pending are favourable. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.


SUMMARY OF RECENT DRILLING EAGLE TWO (since last press release, assayspending)---------------------------------------------------------------------------Hole Northing Easting Northing Easting azimuth dip Length Mineral- ID (local) (local) UTM UTM (deg.)(deg.) (m) ization (m) (m) (m) (m) from - to (sulphides)---------------------------------------------------------------------------NOT-08-1 G22 680 N 3125 E 5841962 546118 0 -90 303 199.0 - 211.1 (some Cu-Ni)--------------------------------------------------------------------------- 240.9 - 247.5 (py, po, minor Cu-Ni)---------------------------------------------------------------------------NOT-08-1 G24 725 N 3200 E 5842025 546125 0 -90 372 191.2 - 200.3 (some Cu-Ni)--------------------------------------------------------------------------- 280.5 - 295.8 (minor py, po) ----------- 295.8 - 312.1 (int. Cr beds) ----------- 312.1 - 368.2 (massive Cr)---------------------------------------------------------------------------NOT-08-1 G25 725 N 3175 E 5842025 546100 0 -90 447 218.8 - 229.3 (minor Cu-Ni)--------------------------------------------------------------------------- 349.5 - 372.0 (sulphides, py, po) ----------- 372.0 - 386.0 (int. Cr beds) ----------- 386.0 - 417.0 (massive Cr)---------------------------------------------------------------------------NOT-08-1 G28 785 N 3215 E 5842062 546100 0 -90 432 232.5 - 236.4 (minor Cu-Ni)--------------------------------------------------------------------------- 325.0 - 353.3 (py, po) ----------- 353.3 - 364.5 (int. Cr beds) ----------- 364.5 - 413.0 (massive Cr) ----------- 413.0 - 424.0 (int. Cr beds)---------------------------------------------------------------------------NOT-08-1 G31 835 N 3237 E 5842100 546100 0 -90 453 264.0 - 271.0 (minor Cu- Ni)--------------------------------------------------------------------------- 336.7 - 341.6 (int.Cr beds) ----------- 341.6 - 410.8 (massive Cr)---------------------------------------------------------------------------NOT-08-1 G32 769 N 3140 E 5842025 546050 0 -90 594 204.0 - 225.0 (minor Cu- Ni)--------------------------------------------------------------------------- 270.0 - 287.8 (minor Cu- Ni) ----------- 287.8 - 306 (intermit- tent Cu- Ni) ----------- incl. 292.5 - 300.6 semi- massive ----------- 494.0 - 494.1 (Cr bed)---------------------------------------------------------------------------NOT-08-1 G35 821 N 3106 E 5842025 546000 0 -90 462 230.1 - 290.6 (py, po, Cu)--------------------------------------------------------------------------- 383.3 - 387.0 (semi- massive Cu-Ni) ----------- 393.1 - 425.1 (po, minor Ni) ----------- 445.5 - 462 (minor po)---------------------------------------------------------------------------NOT-08-1 G36 743 N 3155 E 5841987 546100 0 -90 19.5 abandoned---------------------------------------------------------------------------NOT-08-1 G37 743 N 3155 E 5841987 546100 0 -90 15 abandoned---------------------------------------------------------------------------NOT-08-1 G38 743 N 3155 E 5841987 546100 0 -90 519 137.8 - 150.1 (minor po, py,Cu)--------------------------------------------------------------------------- 206.4- 235.5 (po, minor Cu- Ni) ----------- (209.3 - 227.9 semi- massive Cu-Ni) ----------- 426.9 - 505.6 9 (po, mt minor Ni)---------------------------------------------------------------------------NOT- 08-1 G39 850 N 3060 E 5842025 545950 0 -90 447 313.4 - 403.4 (minor po, min Cu)--------------------------------------------------------------------------- 405 - 420 (inte- rmittent Cu-Ni) ----------- (411.8 to 420.0 semi -massive Cu- Ni)---------------------------------------------------------------------------NOT-08-1 G40 800 N 3150 E 5842062 546050 0 -90 270.8 - 295.5 (po, Cu-Ni)--------------------------------------------------------------------------- (278.3 - 295.5 semi -massive Cu-Ni)---------------------------------------------------------------------------For the above table:Cu refers to copper mineralization, typically chalcopyriteNi refers to nickel mineralization, typically pentlanditepo refers to pyrrhotite a sulphide mineralpy refers to pyrite, a sulphide mineralmt refers to magnetiteCr refers to chromite mineralizationSemi-massive refers to sulphide mineralization, predominantly po, pn and cp


AT3 anomaly

A total of 2,621 meters were drilled in eight holes testing airborne anomaly AT3, located 4 kilometers to the southwest of Eagle One. These holes intersected altered (talc-chlorite alteration) and non-altered strongly magnetic peridotite units that were locally mineralized with disseminated sulphides. No significant assay results have been received to date. The presence of magnetite veinlets and disseminated sulphide mineralization in the peridotite provide some evidence of conductivity and explain the high magnetic signature. Samples were selected from all mineralized sections, were submitted for multi-element analysis, and results are pending. The following table lists the holes drilled at AT3 anomaly, with the results from holes assayed to date.


SUMMARY OF RECENT DRILLING AT3----------------------------------------------------------------------------Hole North- East- North- East- azimuth dip Length Mineralization ID ing ing ing ing (deg.) (deg.) (m) (sample (local) (local) UTM UTM information)--------------------------------------------------------------------------------------------------------------------------------------------------------NOT-08- assays 1G10 925 900 5840582 544326 315 -52 281 pending----------------------------------------------------------------------------NOT-08- no significant 1G12 1100 900 5840731 544210 135 -45 309 assays----------------------------------------------------------------------------NOT-08- assays 1G14 1100 700 5840576 544068 135 -45 228 pending----------------------------------------------------------------------------NOT-08- no significant 1G18 1100 700 5840575 544065 135 -75 405 assays----------------------------------------------------------------------------NOT-08- assays 1G19 1340 1100 5841021 544195 135 -50 471 pending----------------------------------------------------------------------------NOT-08- assays 1G23 1000 900 5840639 544273 135 -45 294 pending----------------------------------------------------------------------------NOT-08- assays 1G26 695 990 5840500 544137 135 -45 222 pending----------------------------------------------------------------------------NOT-08- assays 1G27 1100 500 5840451 543894 135 -65 411 pending----------------------------------------------------------------------------


AT4 ANOMALY

A total of 951 meters in three holes were completed to test airborne anomaly AT4 and its southwestern extension, located 5.5 kilometers southwest of Eagle One. Two holes encountered volcanogenic massive sulphide ("VMS") style mineralization in intermediate to felsic volcanic assemblages and the third hole was lost. The holes returned several large widths of barren sulphide mineralization in favourable volcanic rocks uncomformably overlying the Ring of Fire. Minor visible copper - zinc mineralization observed here justifies continued exploration along this favorable north-east to south-west trending stratigraphy. All samples selected will be reported upon once assays have been received. The following table lists the holes drilled in this anomaly area; all assays for these holes are pending.


SUMMARY OF RECENT DRILLING AT4----------------------------------------------------------------------------Hole North- East- North- East- azimuth dip Length Mineral- ID ing ing ing ing (deg.) (deg.) (m) ization (local) (local) UTM UTM (sample (m) (m) (m) (m) inform- ation)----------------------------------------------------------------------------NOT-08- 1G30 -375 -300 5838812 544345 315 -50 549 minor py, po---------------------------------------------------------------------------- minor py, po, Cu, Zn, Pb----------------------------------------------------------------------------NOT-08- 1G33 -55 -300 5839049 544128 135 -70 15 abandoned----------------------------------------------------------------------------NOT-08- 1G34 -55 -300 5839049 544128 135 -70 387 minor py, po----------------------------------------------------------------------------For the above table the following appliesy refers to the sulphide mineral pyritepo refers to the sulphide mineral pyrrhotiteCu refers to the copper sulphide, typically chalcopyriteZn refers to the zinc sulphide, typically sphaleritePb refers to the lead sulphide, typically galena


AT8 ANOMALY

Only one hole tested this anomaly located 6.3 kilometers to the southwest of Eagle One and 2.0 kilometers east of AT3 anomaly. Hole NOT-08-1G29 tested airborne anomaly labeled AT8. The hole encountered altered peridotite with little sulphide mineralization. The peridotite exhibited strong chlorite alteration and only minor sulphide mineralization was observed. No sampling was done on this hole. Deeper penetrating geophysical surveying is required here to further explain the cause of the airborne anomaly.


SUMMARY OF RECENT DRILLING AT8----------------------------------------------------------------------------Hole ID North- East- North- East- azim- dip Length Mineralization ing ing ing ing uth (deg.) (m) (local) (local) UTM UTM (deg.) sample (m) (m) (m) (m) information---------------------------------------------------------------------------- noNOT-08- significant 1G29 1925N 1100W 5839920 542199 315 -50 303 mineralization----------------------------------------------------------------------------


ON SITE QUALITY ASSURANCE / QUALITY CONTROL MEASURES

The aforementioned assay and sample information, as well as geological descriptions are taken from drill logs as prepared by the Project geologists for the drill program onsite. Billiken Management Services Inc. is providing all services on site for the Noront Double Eagle Project., Billiken is a holder of Certificate of Authorization issued by the Association of Professional Geoscientists of Ontario. All samples from the early part of the 2008 exploration program were submitted to SGS Mineral Services in Toronto, Ontario. Samples were selected in the field under the supervision of the site geologist, then were cut by diamond saw. One half of the sample is retained for record at the base camp, the other half of the sample was placed in a plastic bag and individually sealed. The sealed bags are then placed in durable rice bags in batches of 5 and a numbered security tag seals each rice bag. The rice bags are placed in plastic pails and batches of 40 samples were sent by bonded courier to SGS Mineral Services in Toronto, Ontario.

INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL

A thorough quality control program was implemented for the Double Eagle project which included grouping samples into batches of 35 into which was added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. 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 an Independent Qualified Person ("IQP").

All samples reported upon herein were completed by SGS Mineral Services (SGS) at Toronto, Ontario or Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to SGS were analyzed using four acid digestion followed by multi-element analysis ICP40B. The samples that received base metal analyses greater than the detection limit using the multi-element analysis underwent further analysis using FAI323 (Fire Assay) for precious metals and ICP90Q for copper and nickel. For more information on assay methodology please visit the SGS website www.sgs.com.

Drilling results in this press release have been reviewed and approved for dissemination by Noront's senior management including Neil Novak P.Geo., a director and Vice President-Exploration and John Harvey P.Eng. Executive Vice President of Noront, being Qualified Persons under Canadian Securities guidelines.

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".

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 updates in real time.

ON BEHALF OF THE BOARD OF DIRECTORS

R. Nemis, President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

[LOR]

Here is a post from AB about todays news release.

NOT News today...Assay results implications..Geology Model to follow..
Posted by: johndefur on May 27, 2008 02:19PM

As you all must have noted, the first NR was devoted principally to Chromite...It appears clear that E2, will be primarily a Chromie deposit , with accompaning Ni Cu and some PGEs.... This is very good news indeed....It's a pity that NOT chose such a "downer" day when the PPT is out in force, and frantically trying to cool off the return of the Commodities Bull..they knocked Gold down $20, aloong with Oil and all metals...this will not last no matter what desperate interventions they try, the die is cast...US economy is in much worst trouble, especially with the consumers spending which account for a LARGE % of the economy...Obvioulsy NOT and all McFaulds were effected....

I need to get this off my chest...In most financial arenas, including this Forum, all the talk has been about Ni Cu...everytime a drill core is examiined and it doesn't seem to match E1, it's taken as a disappointment...what nonsence !!! IMCO , this Forum at least should totally reject this thinking, and thereby influence/educate the market place, that there exist many other types of mineralization that are equally as valuable....take this NR today as an example...

The word is "CHROMITE"..a metal that is widely used worlddwide for a myriad of applications, including :

In metallurgy, to impart corrosion resistance and a shiny finish:
as an alloy constituent, such as in stainless steel in cutlery
in chrome plating,
in anodized aluminium, literally turning the surface of aluminium into ruby.
As dyes and paints:
Chromium(III) oxide is a metal polish known as green rouge.
Chromium salts color glass an emerald green.
Chromium is what makes a ruby red, and therefore is used in producing synthetic rubies.
also makes a brilliant yellow for painting
As a catalyst.
Chromite is used to make molds for the firing of bricks.
Chromium salts are used in the tanning of leather.
Potassium dichromate is a chemical reagent, used in cleaning laboratory glassware and as a titrating agent. It is also used as a mordant (i.e., a fixing agent) for dyes in fabric.
Chromium(IV) oxide (CrO2) is used to manufacture magnetic tape, where its higher coercivity than iron oxide tapes gives better performance.
In well drilling muds as an anti-corrosive.
In medicine, as a dietary supplement or slimming aid, usually as chromium(III) chloride, chromium(III) picolinate, chromium(III) polynicotinate or as an amino acid chelate, such as chromium(III) D-phenylalanine.[3]
Chromium hexacarbonyl (Cr(CO)6) is used as a gasoline additive.
Chromium boride (CrB) is used as a high-temperature electrical conductor.
Chromium(III) sulfate (Cr2(SO4)3) is used as a green pigment in paints, in ceramic, varnishes and inks as well as in chrome plating.
Chromium(VI) is used in the post Ballard preparation of Gravure (rotogravure) printing Forme Cylinders. By electroplating the metal onto the second coat of copper (after the Ballard skin), the longevity of the printing cylinder is increased
pay special attention to it's catalyst uses, since iscompatable with Hydrogen, the future power supply for cars...


Let's then examiine the "value" of our descovery at E2...Chromite is an exceedingly complex subject...just to keep it simple..Chromite, provided, some contains over 51% CR203, just as is. it is worth about $6 pound...now processing Chromite into the element CR Chromium , which in our case will yield 35.4% Chromium, CR is worth $74 a pound...quite a handsome return, indeed, 6 TIMES the price of Nickel....you can do the math...so I hope you get my drift here...


Further the lengths and dimensions described are superb...and don't forget that we have mostly massive chromites, with lengths ranging from 42 Ft or so to over 210 FT mineralized intersections, and this is just from 5 holes, many more holes from E2 are assay pending....In addition, there is the value of Ni Cu some PGEs and Iron up to 12%...


Therefore the total "value of E2 will be substantial per ton, just firgure out @ 74$ a pound how much is in 1 ton @ 27% Cr.... and as I suggested previously, it will certainly add to NOT's value and 'tonnage" total and that's what really counts ....


Geology Model to follow...


IMCO


JD*

 

[selkirk]

wow, this company went from voisey bay II, to look we have Chromium. some one I knew in the mining industry told me, know matter the results you have to find something to spin.... I mean voisey Bay II to Chromium.....thats a sligth drop off.

maybe this will work out, though it is far easier to sell a story based on Gold, Copper, Nickel, pladium, moly, ect. did read some of the messages on the board, by the way I learned in a portable grade 6,7,8, was not that bad....look how I turned out....lol

could not find one who did not believe this stock will not triple..... will have to find better results going forward. hopefully management will from here on get the drill results quicker, the late results and retesting is the labs and managements fault... and shows weakness. that is your main priority.
also believe they should have raised more money when the stock went on the first run, with this voisey bay II talk in the papers.

if they have to raise money telling the Chromium story, .....will dillute existing shareholders, since they will have to issue stock when it is low....

thanks
selkirk

 

[LOR]

Junior miner's stock soars as joint venture reports

somewhat NOT related
http://www.570news.com/news/business...
Junior miner's stock soars as joint venture reports promising mineral find
June 4, 2008 - 17:28

By: The Canadian Press
TORONTO - WSR Gold Inc. shares soared to their highest price in more than a three years Wednesday after the exploration company (TSXV:WSR) reported preliminary sightings of copper, zinc and lead mineralization along the Ring of Fire in northern Ontario.
WSR shares closed at 79 cents, up 13 cents or 19.7 per cent with more than 5.7 million traded, the highest volume on record for the company. The perennial penny stock had earlier touched $1 for the first time since it last spiked in early 2005.
The excitement followed WSR's announcement of preliminary findings from a hole drilled on a 160-acre property under option by WSR. It's in a joint venture project with Metalex Ventures Ltd. (TSXV:MTX) and Arctic Star Resources Inc.(TSXV:ADD).
All three companies were among the most heavily traded Wednesday at the TSX Venture Exchange. Metalex shares gained two cents or 5.5 per cent to 38.5 cents with 6.7 million traded. Arctic Star's fell one cent or 6.9 per cent to 13.5 cents with 5.4 million of its shares traded.
Wednesday's announcement was based on the observations of John Harvey, a consulting geologist to WSR. Samples are being prepared for shipping to an independent assay laboratory, it said.
'WSR believes that the recent drill hole results, with the presence of visible copper, zinc and lead sulphides being observed on site by the project's geologist are very encouraging and could be of significant importance to the Joint Venture Partners if the assay results pending are favourable. Notwithstanding the foregoing, visible observations are estimates only and pending assay results may not confirm visual observations in whole or in part,' the company said.
WSR says it can acquire 50 per cent of the McFauld's Lake property under an agreement with Noront Resources Ltd. (TSXV:NOT). Its shares gained 50 cents or 14.7 per cent to $3.90 on Wednesday with 735,336 traded at the TSX Venture Exchange.
The joint venture project is 45 kilometres north of Noront's Eagle One discovery, which is also along the Ring of Fire - a relatively untapped area of heavy mineralization - in the James Bay region of northern Ontario.

 

[selkirk]

since NOT has such a large land package in the area, it would be wise to farm out most of it....

that way a large amount of the drilling, can be paid by other companies. NOT will not have enough (cash) to drill it up quickly anyways.... perphaps other companies would be better operators and be able to get drill results quicker.

get other companies involved and have a flow of news.

thanks
selkirk

 

[LOR]

Here's two phone conversation from AB.

talked to nemis
Posted on June 05, 2008 12:52PM

Down about 300 meters at Windfall now

Chromium - release seperate be cause it is " very, very significant size"

Still waiting for Rhodium assays

Thinks the new lab is completly up and running- all assays going there now

Drilling continued through the spring break up - never stopped

Waiting for 43-101 for Eagle one

Lots to look forward to in the near future

That was about it for info as he was busy as we all know

Coop





Just talked to Richard....
Posted on June 05, 2008 03:33PM

-Thanked him for doing an excellent job and all his hard work, since I forgot to mention that yesterday when I met him...."Your welcome buddy"

-Asked him how the trip to Windfall was - "Excellent"

-Asked about Double Eagle - "Everything is rolling ahead...LOTS of news to come soon - stay tuned"

 

[LOR]

Here's another phone conversation with Richard from AB.

Just spoke to Richard

Posted by: tcp1002 on June 06, 2008 12:34PM

He actuallyanswered the phone himself. He is in good mood. Said not to worry about the stock. I asked about the Probe annoncement and he said didn't have time to explain it but did say there is an issue with PRB and what they claim they have staked.
Asked about China, Mexico and Burnt Hill he said nothing is going on with them right now.
Asked about his trip to Windfall and he said it was FANTASTIC!. He said we're 300 meters underground and that soon there will be pictures posted on the web site.
Asked about the 43-101 and timing and he said it was being worked on and will release as soon as they have it.
He was busy so I asked if everything looks good and he said yes. I asked when the promoters are coming back and he laughed and said don't worry about the stock. It was a positive conversation so I feel better already and glad I had this short chat with him.
I'm still holding strong, GLTA, Tcp

 

[LOR]

NEWS - TSX Venture Ranks Noront Resources Ltd. as Top Mining Company in 2008 TSX Venture 50
Posted by: AGORACOM on June 24, 2008 09:04AM

TORONTO, ONTARIO - (June 24, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) is very pleased to announce it has been named to the 2008 TSX Venture 50, a ranking of Canada's top emerging public companies listed on TSX Venture Exchange. Within the TSX Venture 50, Noront Resources was the #1 ranked company in the mining category. The TSX Venture 50 identifies the top 10 companies in five major industry sectors, based on a ranking formula that includes revenue, return on investment, market cap growth and trading volume.


In a ceremony that took place at the Toronto Stock Exchange on the evening of June 19th, Kevan Cowan, the President of the TSX Venture Exchange, announced Noront Resources as the top ranked company in the mining sector and awarded President and CEO, Richard Nemis with the TSX Venture 50 Top Mining Company award for 2008. A video of the announcement and award, as well as, photos of the Noront Team, can be viewed at: http://www.agoracom.com/executive/TS...


Richard Nemis, President and CEO of Noront Resources, discusses the importance of this historical achievement via the following video address outside the Toronto Stock Exchange prior to the ceremony: http://www.agoracom.com/executive/TS...


DOUBLE EAGLE "RING OF FIRE"


This award is representative of the exceptional year experienced by Noront Resources Ltd. In September 2007, Noront announced the discovery of high grade nickel, copper, platinum, palladium, as well as, indications of rhodium on its Double Eagle property in the James Bay Lowland area of north-eastern Ontario, Canada. The discovery was then tested by several drill holes, three of which returned assays as follows:


- NOT-07-05 for which final assay results included 68.3 meters averaging 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. (See press release September 27, 2007)


- NOT-07-18 for which final assay results included 124.6 meters averaging 2.39% nickel, 1.09% copper, 1.12 g/t platinum, 3.86 g/t palladium, 0.28 g/t gold and 3.89 g/t silver. (See press release January 3, 2008)


- NOT-07-27 for which final assay results included 46.2 meters averaging 6.3% nickel, 2.8% copper, 1.9 g/t platinum, 10.2 g/t palladium, 3.0 g/t gold and 7.3 g/t silver. (See press release January 28, 2008)


The consistency of exceptional drill results at the Double Eagle project continued to add to the potential of this discovery. Thirty five holes were completed by early 2008 on the Eagle One magmatic massive sulphide deposit, the assay and drill hole data is currently being reviewed and compiled as required for an initial resource estimate, that is progressing extremely well. Noront continues to actively explore and stake ground in the area and currently holds 100% of over 48,600 hectares of prospective ground and is 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 the Ring of Fire exploration area.


The Noront discovery triggered an unprecedented staking rush in the area, including in excess of 100 mining exploration companies and a few major mining companies. The Ring of Fire area now totals approximately 4,000 square kilometers of staked land.


WINDFALL LAKE


The Windfall Lake underground exploration programme is proceeding on schedule. The main ramp is currently nearing strike extensions of the F-17 zone. The ramp will be advanced a further 110 m to the next remuck bay before entering the F-17 zone. This schedule will allow the underground contractor to advance on multiple headings. The F-11 access ramp is about 80 m south of the zone. It is anticipated that the ramp will reach the zone in mid-July, when a pair of drifts will be driven on the zone. The schedule allows exploration to focus on the zones in sequence, i.e., F-11, F-17 and then NOT-06-100.


Although the late spring has been exceptionally cool and wet, the ramp is sufficiently dry to permit reuse of waste water for underground service. Since June 6 the mine service water system has operated in closed circuit with minimal releases to the environment. A self-contained, automated, water treatment plant was installed during the past week. Currently environmental and water chemical engineers are working to maintain the mine service water to acceptable environmental discharge specifications through a combination of chemical and physiochemical treatments. The environmental authorities have been and will be kept informed of progress of all environmental concerns.


On June 4, 2008 Noront met with representatives of Waswanipi Cree First Nation ("WCFN") to officially open the Windfall Project ramp at the site and to deliver the requisite "Mining Liaison Service' and "Interference Compensation" payments to the community. The payments made, sealed the commitment to a Memorandum of Understanding ("MOU") entered into on October 19, 2007, between the Company and the Cree First Nation of Waswanapi. The parties agreed to seek to negotiate in good faith, but without obligation to agree, to develop and, if ultimately approved by their respective decision making processes, to execute an Impact Benefit Agreement ("IBA") for the project having such terms and conditions as the parties may agree, guided by the principles set out in the MOU. The MOU covers many principles that have been agreed upon by both parties to the agreement, focusing on the implementation and protection of these principles pertaining to; ongoing communication, environmental concerns (including preservation of traditional pursuits and knowledge), social support, training employment and contract opportunities, education, socio-economical and remedial fund, pre-IBA support, as well as certain legal provisions. These principles are intended to support, rather than substitute for, specific programs and arrangements which may be made by the WCFN and Noront and are not intended to be a complete or exhaustive list of the matters that will be discussed in the IBA negotiations.


In the past week the project manager has met with WCFN officials to explore avenues for employment of First Nations enterprises and residents on current and future programmes. Initially, the progressive rehabilitation of historical drill sites, access trails and stripped areas have been identified as necessary projects, for which several First Nation enterprises have the skills and equipment to complete. Noront is reviewing other employment opportunities with WCFN.


Drilling results in this press release have been reviewed and approved for dissemination by Noront's senior management including Neil Novak P.Geo., a director and Vice President , Corporate and Aboriginal Affairs and John Harvey P.Eng. Chief Operating Officer of Noront, being Qualified Persons under Canadian Securities guidelines.


Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,804,783 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 updates in real time.


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.


CONTACT INFORMATION:

Noront Resources Ltd.
Richard Nemis
President and Chief Executive Officer
(416) 864-1456
Fax: (416) 367-5444

or

Noront Resources Ltd.
Neil Novak
VP Corporate and Aboriginal Affairs
(416) 864-1456
Fax: (416) 367-5444
Email: info@norontresources.com
Website: www.norontresources.com

or

AGORACOM Investor Relations
Email: NOT@agoracom.com
Website: www.agoracom.com/ir/noront

 

[LOR]

Here is an interview with Richard Nemis from Noront Resources outside the TSX.



http://www.agoracom.com/executive/TS...

 

[selkirk]

LOR these awards do not mean much would rather have $1 to the stock. this is a very tough environment of jr. gold/mining costs.

in Canada there is an award that is given to the mutual fund industry...the amount of them given out is just amazing. no matter how bad they do, how many years they underperform the index they can still win Lipper award...

this just shows the nice run the stock had, it did trading 5-7, now it is bumping along 3, down from 4-5 since the delayed samples.

it seems quite of bit of excitment has left the play, also management has been slow in getting the results.

not to be so negative as they do have a good amount of land for drilling.... not sure how much money they are burning through...scary if they have to raise cash in this environment, and at these prices.

thanks
selkirk

 

[LOR]

NEWS - Noront Resources Ltd.: Windfall Project Underground Exploration Update - VISIBLE GOLD ENCOUNTERED IN RAMP
Posted by: AGORACOM on June 26, 2008 04:19PM




TORONTO, ONTARIO - (June 26, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) -


WINDFALL LAKE, URBAN TOWNSHIP; QUEBEC


Noront is pleased to report that its geologists on site report significant occurrences of visible gold at Windfall Lake; both in mineralized muck and in situ on the ramp wall on the westerly extension of the F-17 zone. The gold observed in the ramp wall was initially thought to be a thin plate extending over an irregular area measuring 1 cm by 2 cm. Upon removal for safekeeping, gold was found to form a film or mesh, permeating the host rock and exposed on broken surfaces for areas up to 8 x 10 cm.


An image of the sample from the ramp with appropriate scale bar, has been posted on Noront's website: http://www.norontresources.com/proje...


Noront is earning a 50% interest in the subject property, where the F-17 zone is located, from Murgor Resources Inc. ("Murgor") and Freewest Resources Canada Inc. ("Freewest") by spending $4.0 million in total. Noront can earn an additional 10% interest, for a total 60% interest in the project by providing a positive feasibility study on the project (see press release dated February 5, 2007). Noront has 100% interest in the adjacent claim group to the south and southwest where other gold zones targeted by the ramp are located.


The Windfall Property has previously reported excellent gold grades in both surface sampling and diamond drilling during exploration leading up to the present program. Based only on surface exploration, it has been difficult to combine drill intersections into continuous zones that may be amenable to development. The current underground programme is designed to recover bulk samples from several well-mineralized areas of which F-17 is the first to be reached.


The visible gold is hosted by a silicified, pyritic volcanic rock which forms the immediate hanging wall of a quartz breccia unit. The gold forms irregular plates that form part of the matrix in the granular-looking host rock. The gold occurrences reported herein are not expected to be representative of the gold mineralization at Windfall Lake overall.


The F-17 zone was discovered in 2004 and intensively drilled (4,800 m in 40 holes) in 2004. A further 16 holes (approx. 1,500 m) were drilled during the last three years. On March 18, 2008 Noront reported 143.3 g/t (4.18 opt) over 3.11 m(10.6 ft) between 9.73 and 12.95 m in NOT-07-175, a geotechnical hole situated approx. 70 m east of and approx. 35 m above the main ramp. Hole WIN-05-85 reports 3.8 g/t over 3 m approx. 10 m below the location of the visible gold. Two other holes (WIN-05-53 and NOT-07-114) report low grade intervals below WIN-05-85 but within 25 m of the visible gold occurrence on or in the projected hanging wall of the zone.


This encouraging discovery is an endorsement of the underground programme which was predicated on the assumption that surface diamond drilling was not adequately sampling the observed mineralization due to its non-continuous nature.


The mining contractor has been instructed to drive ore drifts short distances on F-17, both east and west of the ramp before advancing the ramp towards the NOT-06-100 area. The mining contractor operates under geological control during the approach to, traverse of, and drifting in mineralized zones. A variety of samples are taken to provide an initial estimate of grade, which will be reported upon when assays are received from the laboratory. Mineralized and partially mineralized rounds (approx. 200 t) are individually placed on a purpose-built "ore" dump under the direction of the geological team.


Mr. Nemis, President and CEO of Noront states "The Windfall Lake gold project in Quebec with the exciting gold samples encountered during our underground exploration program as reported upon herein is one of two main projects on which Noront is working at present. The other main project is the Double Eagle polymetallic project in northern Ontario, where impressive nickel, copper, platinum, palladium and chrome mineralization has been identified by drilling. Two diamond drills are continuing to delineate the Eagle Two Copper-Nickel-Chromite mineralization and one drill is testing other geophysical targets. We will be providing an exploration update on the Dougle Eagle project shortly."


Patrick Chance, P.Eng and John Harvey, P.Eng. are supervising the Windfall program on behalf of Noront. Bob Bryce of Abiting Inc. and Tracy Armstrong, P.Geo., of P&E Mining Consultants are consultants to the project, have reviewed the contents of this press release and are resident Qualified Persons from Quebec.


Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,804,783 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 updates in real time.

 

[selkirk]

LOR this company is very promotional. they do have interesting projects.

though wish management would zone in on one project and see if it is bust or not. they build up a property even calling it voisey bay 2, then they have late samples or did they forget about them.

as for this project would rather own the other two companies. I mean they find the property and NOR has to spend millions to earn in 60% and get it to pre feas level.

actually in 1999 owned Freewest lost 20% or so on the company...ah memeroies...a good friend made over 30% on Freewest last year his first purchase of stock.

good management but never made me money.... very hard among jr. golds.
for having three drill working the property hear very little of drill results or even a timetable if they have one....

also they should encourage companies to spend money on their projects, good jr. find properties that other companies will spend money on to earn a percentage of the property. most of these projects do not come to anything so good to spend other peoples money on the gamble.

not does not seem to have a timeline on these projects or a steady stream of results.

thanks
selkirk

 

[selkirk]

sold my remaining shares 500 at $3. small gain on the 500 for trading and loss on these 500, for an overall loss.

the stock has been weak since the delayed and mixed drilling results. also this market has been a tough one on jr. golds.

main fear is that how many more shares will have to be issued.

will look to buy the stock if it rebounds, on some positvie drilling news/results....will look to re-enter at 3.50-4.

thanks
selkirk

 

[LOR]

selkirk, I hope your buying it back real soon at 3.50- 4. LOL I remain long, bought this stock with a 2 year time frame (9 months down & 15 months to go)of owning it. Hopefully by then the drills will have proven McFauld's Lake area holds enough precious metals to be a world class mine. A couple of other jrs in the ring of fire will be starting to drill on thier claims next week. Maybe this will get a pulse back in the SP. NOT should be getting assay results on DE2 & 43-101 results back on DE1 soon.

 

[LOR]

Here is a post from AB.

Just spoke with Richard Nemis.....
Posted by: Canseco on July 03, 2008 01:41PM

In response to: Just spoke with Richard Nem... by Canseco

I asked Richard if there was anything he could say that I could post on this board to reassure the NOT faithful.

He answered as follows: - (some of these are direct quotes, and some my best recollections)




He believes market conditions are part of the problem.

Then he said, the lack of news being released is another part. My impression was that this is the bigger part in his opinion. Then he said, "but that is about to change. There will be more information coming from the field."

He went on to say that Noront management had/has a plan, to develop the company. They are very satisfied with their progress regarding the hiring of "highly qualified executives, and other key personnel." He asks that we, "all be patient, and let them complete this plan. We are almost there."

They are concerned and unhappy with the share price, and are watching it....he was aware that Canacrap ( RN said Canaccord) is dumping today, and "have their own agenda."

Then I asked, "So, after everything you have just said, Mr. Nemis, are you as excited and confident in Noront's future as ever."

He answered, "I honestly believe".....the rest of this is not a quote, but accurate to his meaning......that things are very bright, brighter than ever. We have a great future and that will become apparent soon.

Richard seemed to be answering my questions with earnest, (dictionary says, "intensely serious"). I believe he was being totally honest with me, as he has always been. I believe he wished he could tell me more.

I know it is hard for all of us, (more so for those who bought in much higher) to see this ridiculous drop in price, but I believe strongly that if you are able to hang on, you WILL be rewarded.




Godd luck all, Canseco

 

[LOR]

another post from AB.

Neil Novak Conversation
Posted by: d12 on July 03, 2008 02:27PM

Well, I had the pleasure of talking with Neil again. Neil is a lot more personable once you get to know him and he has a very good sense of humour. I enjoyed speaking with him very much. On to the good stuff. I asked genuinely if something was wrong with the company and his response was, no there is nothing wrong. I mentioned it is just hard as share holders to hold a company in such high regard to see the share price getting beaten down. I told him flat out that I am LONG on NOT and believe that the market is just a little impatient.




Neil mentioned that he believes the market wants to see the resource estimate. I told him he was bang on. He mentioned that there have been many releases with good info. but the market hasn't taken notice. He said very sincerely, that NOT's share holders are the companies number one concern, especially the "BELOVED RETAIL ONES". He was dead serious, and was not lying. They are working very hard on the resource estimate and hoped it would be out soon enough. In my opinion, we aren't more then a week or two off, but that is just my own take, it could be quicker or longer, no one really knows. Neil brought me up to speed on how the whole process works. It is as follows:




1. The engineers draft up the resource estimate and pass it back through Noront.

2. Noronts geology team critiques it and makes changes where they believe are needed.

3. Engineering re-writes the resource estimate to include any of the changes that Noront and the Engineers agree are applicable and re-submits it to Noront.

4. Noront more or less copies and pastes (my own take on this process) and adds it to Noront letter head and releases it.




Neil mentioned again that a chrome section would be added to it so management can finally have the proper documents in order to discuss more freely the significance of the chrome. One thing Neil did mention is that the chrome grades we released are as good or better than the average chrome mines that operate around the world. Many investors know this, and many don't. It is going to take the market some time to understand it which is the intent of the chrome section in the 43-101. Once completed they will be educating the market as to the significance.




I asked how Eagle 2 was going and he mentioned they are still drilling it and could be for a few more months. I took this as a very good sign. Neil said they were following a conduit down to where they believe the pool of sulphides are. Drilling will tell if they are correct. I think they will be. It is my own personal belief that Eagle 2 will eventually be very, very significant, which is why they could be drilling it for a while longer. No one drills something for 6 to 10 months because they think it is worthless. Neil said he hopes to have results out soon for the progress on it. He mentioned that the chrome takes a little longer than just normal assays.




All in all it was a very good conversation and I thanked Neil for taking the time. Although I am not at all happy with the current share price I do believe management is as upset as we are and probably more. I am LONG NOT so the daily fluctuations really don't matter much. I think once the resource estimate is out it will push our share price back to much more reasonable levels and take away the "unknown" factor that the manipulators are preying on. I, like Canseco, had a sense that Neil would have liked to say much more, but he simply can't.




I am certainly not giving investment advice but I think buying at these levels will prove to be a very wise decision. I see us at a bare minimum being worth double the current price excluding speculative value. I will be buying as much as my funds permit me to. Take care all and good luck, just a matter of time IMO.....




d12

 

[LOR]

US stock market is closed today and NOSOF is HALTED on the Canadian market for this news release. Happy 4th everyone, Lor



Press Release Source: Noront Resources Ltd.


Another Windfall for Noront With High Grade on Initial Resource Estimates at Eagle One Deposit
Friday July 4, 8:30 am ET


TORONTO, ONTARIO--(Marketwire - July 4, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT - News) is pleased to report the results of an initial resource estimate by P&E Mining Consultants Inc. of Brampton Ontario on its recently discovered Eagle One Cu-Ni-PGE Deposit, lying within the Double Eagle Project located in the James Bay Lowlands, northeastern Ontario.



The Eagle One resource model was derived from delineation drilling conducted during 2007/2008 that outlined a mantle derived, ultramafic intrusion ("the Ring of Fire Intrusion") hosting an elongated, steeply dipping lens of dominantly disseminated sulphides which encapsulate a smaller lens of high grade massive sulphides. The deposit remains open along strike and down dip for further expansion. These potential extensions will be the subject of an exploration program to commence shortly.

Significant sulphide mineralization was outlined on nominal 50-metre spaced sections over dip lengths of up to 225 metres that can be projected to 200 metres of strike length. Twenty-three (23) drill holes that intersected mineralization on these five sections form the basis of the resource estimate while an additional six (6) holes were incorporated to build the total geological model. Inverse distance squared grade interpolation was utilized to determine block model grades.

The identification of significant high grade massive and disseminated sulphide resources at Eagle One clearly demonstrate that systematic exploration of other targets in the Ring of Fire area will be the most significant creator of value for Noront. Given Eagle One's close proximity to the newly discovered Eagle Two occurrence and the nearby potentially large Chromite deposit, it is clear that this area will continue to be the centre of a highly focused exploration program.

The realization of very high Ni grades (6.5% to 7.0%) in the massive sulphide zone allows Noront to consider the possibility of first shipping unprocessed ore to a southern based concentrator/smelter complex. The construction of an on site concentrator for the disseminated mineralization would be accomplished out of operating cash flow under this scenario. This concept would be considered in an early preliminary economic assessment with minimal capital costs and an early production date, subject to all necessary consents, approvals, permits and land use requirements. While Noront would need to complete a feasibility study, prior to undertaking this direct shipping approach, management of Noront anticipates there would likely be potentially minimal impact to the environment and the mine development would provide road access to several local native communities currently with air access only.

The following table sets out, for the first time, an indicated mineral resource and an inferred mineral resource for the Eagle One project:


INITIAL MINERAL RESOURCE - EAGLE ONE PROJECT

--------------------------------------------------------------------------
Indicated Tonnes Ni% Cu% Au g/t Pt g/t Pd g/t Ag g/t NSR(i)
$C/tonne
--------------------------------------------------------------------------
Massive 233,000 6.52 3.45 0.24 1.94 12.21 9.75 $1,631
--------------------------------------------------------------------------
Disseminated 1,601,000 1.30 0.85 0.14 1.00 2.70 2.94 $353

--------------------------------------------------------------------------
Total
Indicated 1,834,000 1.96 1.18 0.15 1.12 3.91 3.81 $515
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Inferred Tonnes Ni% Cu% Au g/t Pt g/t Pd g/t Ag g/t NSR(i)
$C/tonne
--------------------------------------------------------------------------
Massive 217,000 7.00 2.86 0.18 3.00 11.75 8.70 $1,705
--------------------------------------------------------------------------
Disseminated 870,000 1.24 0.88 0.12 0.97 2.69 3.09 $341
--------------------------------------------------------------------------
Total
Inferred 1,087,000 2.39 1.27 0.13 1.37 4.50 4.21 $614
--------------------------------------------------------------------------

(i) Net smelter royalty is calculated using the assumptions in note (1)
below and after deducting shipping costs.


(1) The resource for Eagle One was estimated on the basis of approximate $US three year trailing average metal prices of $12.00/lb nickel, $3.00/lb copper, $650/oz/gold, $1,250/oz platinum, $325/oz palladium and $12.00/oz silver and the $US exchange rate was $0.90. An NSR cut-off of $115/tonne for underground mining and milling was utilized to report the resource.

(2) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues. There is no guarantee that Noront will be successful in obtaining any or all of the requisite consents, permits or approvals, regulatory or otherwise for the project or that the project will be placed into production.

(3) The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and further exploration drilling is required to determine whether they can be upgraded to an Indicated or Measured mineral resource category.

(4) The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.

(5) The effective date of the mineral resource estimate is July 3, 2008.

Eugene Puritch, P.Eng., Tracy Armstrong, P.Geo. and Antoine Yassa, P.Geo of P&E Mining Consultants Inc., are the authors of the Resource Estimate Technical Report on the Eagle One deposit to be filed within 45 days of this news release. They are independent Qualified Persons in accordance with NI 43-101 - Standards of Disclosure for Mineral Projects, and have reviewed and are responsible for the information presented in this news release.

Assaying was performed by both ALS Chemex, (with sample preparation completed in Thunder Bay, Ontario and analyses completed at ALS Chemex in Vancouver, B.C.) and SGS Mineral Services in Toronto, Ontario where both preparation and analyses were undertaken. Base metal values were determined by using either 4-acid digest or lithium metaborate fusion with ICP-AES or ICP-OES analysis. Platinum, palladium and gold values were determined by 30 gram fire assay with ICP-AES finish. Silver assaying was undertaken with a three acid digest (aqua regia) followed by AAS. A very rigorous quality control program was set up and monitored on a real-time basis by the above mentioned independent QP's, and all assays used in this resource model fell within the quality control norms as determined by them.

With these new mineral resources on the Double Eagle Project at Eagle One in the McFauld's Lake area, Noront now has achieved the first milestone in the potential development of this asset.

In addition to now entering the pre-production phase Noront's exploration staff now in place, will continue its high priority exploration efforts on its very large land position around the potentially prolific Ring of Fire. Several diamond drills will be testing geophysical targets that have the potential to become additional feed for the processing facilities now to be considered by Noront in the McFauld's Lake camp.

Richard Nemis, CEO of Noront comments as follows: "With these 43-101 compliant mineral resources at Eagle One and our other exciting exploration projects in the McFauld's Lake area, coupled with our very recent discovery of additional course, visible gold mineralization in the current underground program at Windfall Lake in northern Quebec, our shareholders can see lots of light at the end of the tunnel. These developments indicate excellent potential for production revenues in the not too distant future. The main advantage of our current exploration effort is the minimal capital expenditures required and possible early lead time to begin obtaining production revenue from these resources."

These above forward looking statements are the views and objectives of Noront's current management team.

Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,804,783 shares issued to date.

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".

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 updates in real time.

ON BEHALF OF THE BOARD OF DIRECTORS:

R. Nemis, President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contact:

Richard Nemis
Noront Resources Ltd.
President and Chief Executive Officer
(416) 864-1456
(416) 367-5444 (FAX)
Email: info@norontresources.com
Website: www.norontresources.com


--------------------------------------------------------------------------------

Source: Noront Resources Ltd.

 

[LOR]

Attention Business Editors:
Investment Industry Regulatory Organization of Canada - Trading Halt - Noront Resources Ltd. - NOT


VANCOUVER, July 4 /CNW/ - The following issues have been halted byInvestment Industry Regulatory Organization of Canada (IIROC): Issuer Name: Noront Resources Ltd. TSX-V Ticker Symbol: NOT Time of Halt: 09:21 EDT Reason for Halt: Pending clarification of news

 

[LOR]

Here's an article by Peter Koven from the Fin. Post and then a post from AB. The next couple of weeks should be interesting for NOSOF and other jvs invovled with the Ring of Fire. selkirk do you have any thoughts on Noront mining Eagle One themselves? Some post from AB say it will give Noront a steady cash flow to build roads & a smelter on site & NOSOF could harness 80% of the value from Eagle One, instead of receiving 20% to 30% if bought out by a major.


Peter Koven Financial Post article

Posted by: Notie Girl on July 05, 2008 12:10PM


Eagle One lands Noront 'good start' for mine
Nickel-Copper Find

Peter Koven, Financial Post
Published: Saturday, July 05, 2008


Industry experts are calling the first resource estimate from Noront Resources Ltd.' s Eagle One discovery a "good start," but will be watching for much more action in the months ahead to determine the future of the heavily hyped project.

Noront's initial resource for Eagle One was hotly anticipated, because the high-grade nickel-copper discovery ranks among the most promising Canada has seen in years. It triggered a big staking rush in the McFauld's Lake region in Northern Ontario last year that became the hottest topic in the junior mining world (the area is now known as the "Ring of Fire").

Noront reported an indicated and inferred resource from Eagle One yesterday of nearly three million tonnes of ore with an average grade of over 2% nickel. That includes smaller sections of about 200,000 tonnes grading more than 6.5% nickel.

While those grades are excellent, experts said this discovery on its own is not nearly big enough to justify building a mine at McFauld's Lake, especially since the remote area has no roads or power.

"Right now, they've got to expand very significantly to make this viable. It's a good starting point, but it needs a lot more work," said Dave Davidson, an analyst at Paradigm Capital.
However, the resource was also largely what investors expected. Eagle One is a very high-grade discovery, but it is relatively small.

To open up the area for potential mining, experts said it is likely a big discovery will have to be made. To date, there has been very little drilling by most of the junior companies in the region, and the Ring of Fire has lost momentum with investors.

The companies are finally going to ramp up drilling in the coming months, so the next round of results will be watched very closely. Geologists have pointed out that small deposits such as Eagle One are usually accompanied by much bigger ones.

"In my opinion, [the Eagle One resource] is just kind of a warm-up," said Warren Irwin, president of Rosseau Asset Management, which is a big investor in the Ring of Fire.

"The money's all raised and the companies all going to be out there aggressively spending it. And there are some great targets out there. All you need is the one big target to convince everyone that it will be the start of a new mining camp."

One advantage Noront has is that some of the ore from Eagle One is so high-grade it could potentially be shipped directly to a smelter in Sudbury without having to process it. Then the company could use the cash generated from that to build a concentrator at the site.

Noront shares were halted throughout the day and will resume trading next week.

pkoven@nationalpost.com


Black Swans and "Financial Post" article

Posted by: rek on July 05, 2008 04:33PM

Peter Koven's "Financial Post" article is a good example of being fooled by a positive "black swan": the reality of NOT.V and the Ring of Fire.
I explained "black swans" in earlier posts (June 27, 2008 12:18PM, and same day, 2:01 PM): they are highly improbable events of great consequence. They happen more often than most people think.
Merely because the NOT.V story appears improbable, some people believe the NOT.V story must be too good to be true. I wrote that such people "falsely conclude the NOT.V story is extreme hype over very rare, but very small, lucky strikes into tiny ore bodies."
Look at Koven's use of words implying NOT.V is hype:
"heavily hyped project," "hotly anticipated," "most promising ... in years," "hottest topic in the junior mining world," and "very high-grade discovery."
He then goes on to make it sound too good to be true by next listing several reasons for being skeptical, and waiting to invest:
"not nearly big enough," "remote area has no roads or power," "needs a lot more work," "relatively small," "there has been very little drilling," and "the Ring of Fire has lost momentum with investors."
As I said in my 6/27/08 2:01 PM post, "To believe the unbelievable (that is, to recognize a black swan early in the game), is beyond the risk-taking rules followed by most investors/traders."
By the time NOT.V and the Ring of Fire are proven, and widely accepted as being real, NOT.V's stock price will be in the double digits.
I write about "black swan investing" on this forum to help some readers here better understand that positive black swans like NOT.V do exist in reality. They provide once-in-a-lifetime opportunities to multiply your initial stake many times.

 

[selkirk]

LOR it seems National Post does quite a few stories on Noront, especially compared to other jr. mining companies. The National post seems to have about twice as many stories as the globe and mail (the two national papers in Canada)

for the most part 90% of jr. try to either get bought out by a sr. or sell a controlling percentage of a particular project to a sr. or midcap. or they go to zero.

it is very difficult to develop a mine, and it is hard for a jr. company to

1. get the personal needed, to develop a mine
2. most mines are going over budget, 20-100%, the costs to develop a mine are going higher, most feasibility projects just done 2-3 years ago, would now be 20-50% higher.
3. cash flow is great and investors look for this in a sr. compnay however in jr. it is often overlooked.

investors are looking for a big score, can show you examples of how a stock would spike on great drilling results and slowly go down as the mine got closer to completion.

if NOT drill results are good, and maybe another article in the post (a few articles) then maybe the stock can go on a run..

it would be important for management to issue (raise more money), not that it is good to dilute shareholders, but they have to make sure they have enough money so they can prove up their projects over the next year or two.

you never know when the door closes and you cannot raise any more money.

thanks
selkirk