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.)
in response to doryloads's message

Yes you may.

The very first thing that struck me is a change in terminology. The Eagle 1 B and C intervals were not referred to as conduit extensions, but instead, as lenses. Lenses form, for example, in the bottom of magma chambers. I don't know if this change in terminology was deliberate or not. Certainly, a geologist would call a lens a lens; they wouldn't think twice about it. And maybe they didn't think about it. I suspect they know more than they shared with us today about the configuration or spatial orientation of the deposit(s). (The model of the deposits in that presentation two weeks ago tells me they know more about the spatial orientation than they've let on.)

I was also immediately excited to see this: "To view a plan and cross-section of the new drill holes as well as holes being currently drilled below Eagle One, please refer to Noront's website http://norontresources.com/find/id/15/rb." But there is no reference therein to holes being currently drilled. :-/ And they didn't give us the collar azimuth and dip of hole 49. :-/

Still, that diagram has a huge amount of information. All the colour-coded rock types, and intersections are clearly shown. I'll spend some time with that diagram at a later time, but there's really a lot there. Did you note how Eagle B is offset from Eagle A? The best grades of Eagle A are generally to the west, and Eagle A lies to the west of a vertical line through Eagle B. We only have one hole in that new interval. Don't discount the grade! I want to see what's to the west of that interval before I assign a grade to Eagle B.

We also should not discount the idea that the mineralization may be continuous throughout this depth extension. Just because we didn't stay in mineralization for 1000 metres does not mean that the mineralization stops and starts in discrete sections. The absence of evidence is not evidence of absence.

The lower section, Eagle C, is really quite good. ~150 metres @ 2.43% Ni works for me!

If the price falls tomorrow, I'm buying more. I might just buy more anyway. The next round of Eagle 1 NRs will blow the top off the SP. In my perhaps not so humble Hoov opinion. ;-)

Lar

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