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: Noront worth more now

Noront Resources

almost 15 years ago

The only problem with your thesis is that they tried to extend the orebody at Eagle 1 to depth with a number of holes, but they missed. The available geophysics was not helpful, as the near-surface expression of the known deposit totally blocked the view of what may or may not have been directly below it. Although Dr. Mungall was advocating a deep hole (essentially, what would later be hole 49), the cost was prohibitive on pure spec. Finally, they were able to obtain some deep geophysical data which supported the deep holes, and the rest, as they say, is history.

It all took time to work out a cost-effective deep exploration program at Eagle 1. Let's not second-guess prudence, based on hindsight.

Lar