Although I was expecting better results on Eagle 1B, overall these assay results are significant and not comparable with the highlights of Eagle 2. Comparing with the highlights of Eagle 1 (I believe the average grade of Eagle 1A is 2.1%), Eagle 1C has a longer intersection with higher grade.
Some of shareholders fear that sp will be affected by these results, but other stocks such as BMK, FNC and PRB, etc all have climbed up as much as NOT or more lately. There is no reason that solely NOT's sp performance is against the market trend.
Eagle 1B (the first lens) located vertically under Eagle 1A returned;
- 178.8 metres averaging 1.2% Ni, 0.5% Cu, 0.9 g/tonne Pt, 2.0 g/tonne Pd from 306.7 meters to 485.5 meters including;
o 2.0 metres averaging 2.5% Ni, 2.0% Cu, 0.4 g/tonne Pt, 4.7 g/tonne Pd
o 4.7 metres averaging 5.3% Ni, 1.3% Cu, 0.6 g/tonne Pt, 5.3 g/tonne Pd
Eagle 1C (the second lens) also located vertically under Eagle 1A and directly under Eagle 1B returned;
- 149.5 metres averaging 2.4% Ni, 1.1% Cu, 1.0 g/tonne Pt, 5.1 g/tonne Pd from 796.2 metres to 945.7 metres including;
o 23.7 metres averaging 5.2% Ni, 1.0% Cu, 0.2 g/tonne Pt, 7.9 g/tonne Pd
o 21.0 metres averaging 2.5% Ni, 1.0% Cu, 0.4 g/tonne Pt, 5.3 g/tonne Pd
Eagle One Discovery
High grade near surface base and precious metal discovery that now has a NI 43-101 compliant resource estimate:
· Drill highlights include up to 117.4 metres grading 4.1% Ni, 2.2% Cu, 2.1 g/t Pt and 7.1 g/t Pd.
· Indicated resource of 1.8 million tonnes grading 1.96% Ni, 1.18% Cu, 1.12 g/t Pt and 3.91 g/t Pd.
· Inferred resource of 1.1 million tonnes grading 2.39% Ni, 1.27% Cu, 1.37 g/t Pt and 4.50 g/t Pd.
· High nickel grades in the massive sulphide zone make it possible for Noront to consider the option of direct shipment of ore to an existing concentrator/smelter facility outside the project area.
· The deposit remains open at depth and along strike.
Near surface nickel-copper-pge target being delineated to depth in search of a sulphide rich feeder:
· Eagle Two is located two kilometers southwest of the Eagle One deposit.
· Shallow mineralization was encountered 39 metres below surface.
· Drill highlights include 34 metres of 0.6% Ni, and 6 metres of 2.2% Ni.
· Using Eagle One as a model, Noront continues to track Eagle Two in two directions, scoping for the feeder system.
