China’s weekend announcement of $586B of investment spending on infrastructure, has now or goes a long ways in setting the floor in commodities pricing and those stocks in this sector.
In the coming weeks and months the major players will now start to again focus on world class potential resources like McFaulds, as these markets stabilize. Who will be our Major? Cheers, Mark
The continued success of Noront's drilling program at Blackbird One and also at Blackbird Two, is a very positive development in the Company's exploration for base and industrial minerals in the Ring of Fire. The grades of Cr2O3 that are consistently being encountered by the drilling at Blackbird One, along with a favourable chromium to iron ratio have placed this discovery amongst the best chromite deposits in the world.
Visual observations resultant from the drilling at Blackbird Two are also encouraging, as these observations are starting to imply large tonnage potential for the intervening area, although much more drilling will be required in the future for 43-101 qualified resource studies.
Additional nearby discoveries by the Spider/Freewest/KWG joint venture of 48 metres of massive chromite located only a few kilometres northeast of Blackbird Two, along with Freewest's recent discoveries of 100 metres of chromite that included 60 meters of massive chromite, followed by 1.6 km stepout hole that also intersected 120 meters of chromite mineralization, continue to lead the Company to believe that there is a potential for an extensive massive
chromite belt in the current area of drilling.
These chromite occurrences discovered in the McFaulds Lake area to date are situated along a strike length of 10 kilometers within the Ring of Fire (ROF) as previously reported by Noront, Freewest and the Spider/KWG/Freewest JV in their recent press releases.
This concentration of occurrences lends support to the comparison with the Kemi Mine in Finland, where 12 chromite lenses occur in a similar geological setting along a 15 kilometre belt as presented in Noront’s recently filed NI-43-101 report on the project area.
Noront and other Companies that continue to drill in the ROF area are now delineating a potential new chromite belt that is still open at both ends along strike and to depth, where the ROF continues on ground wholly owned by Noront.
Preliminary discussions are underway between the four companies (Noront, Freewest, Spider and KWG) that are actively exploring for chromium along this new belt, whereby they have agreed to share geological information.
This potential mega-project is rapidly progressing to the critical mass stage to support development. The Company is committed to further identifying the chromite footprint of Blackbird Two and testing its other holdings along the ROF for chromite and related copper-nickel massive sulphide mineralization.
Blackbird Two was discovered while testing a large gravity anomaly extending approximately 1000 meters to the east of Blackbird One and 1 kilometre south of the Eagle One magmatic massive sulphide (MMS) deposit. Current drilling is designed to only indicate or outline, with widely spaced drill holes, the scope and ultimate potential dimensions of the chromite mineralization.
