Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Re: Hoov---Windfall

Noront Resources

almost 16 years ago

in response to hoov's message

I earlier said:

"Not earned their 50% of the FWR/Murgor JV with their investment in the ramp. They can go to 60% by completing a feasibility study. However, that requires a 43-101 resource estimate (I'm fairly certain), and that's the rub. Defining the resource to that standard is a huge undertaking."

I later checked the 43-101 regulations, and I verified that a feasibility study must include a 43-101 compliant resource estimate, which means that only indicated and measured mineral resources can be considered. I doubt Windfall is anywhere near inferred status, at the present time.

http://www.canlii.org/qc/laws/regu/v...

As the NR stated:

"An economic evaluation of the property's merits and potential for the shareholders is the primary consideration to be addressed. Recommendations for future exploration at Windfall Lake, after all work currently underway is completed, will be submitted for Board approval if the latter is positive."

Lar