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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Playing with numbers.....

Noront Resources

over 14 years ago

I thought i would play with some numbers to show the potential resource increase as we are still open in all directions at Eagle 1. I did a little spread sheet to show how much we have to gain from little increases in the strike. From the last 43-101 they said they used a volume of about 1200*35*125. That number did not give me 11mil tonnes so I adjusted that to get the 11mil tonnes. I used 1100*30*115. That number got me closer to the 11mil tonnes. I also used for the mass of the rock a 10% massive and 90% disseminated value. So all that being said my comparison only calculates the difference in Ni value. If anyone woudl like this little spreadsheet to play with just PM me.. It also has all the old and new 43-101 numbers in it so they can all be played with as well. There are obvioulsy some assumptions here it is just something to play with as we are back to drilling now.. I think you will get the idea...

Resource Expansion Calculation
	From 43-101	New	M3 of Rock	Tonnes of Rock	%Ni	Pounds of Ni	Total Ni $$
Length	1100	1300	3795000	11,825,220	2%	521,255,698	$ 5,186,494,191.12
Width	115	120
Depth	30	35	5460000	17,013,360	2%	749,948,909	$ 7,461,991,642.56
Mass Weight	4.34
Diss Weight	2.98					Difference	$ 2,275,497,451.44
10% Mass 90% Dis	3.116

Resource Expansion Calculation
	From 43-101	New	M3 of Rock	Tonnes of Rock	%Ni	Pounds of Ni	Total Ni $$
Length	1100	1500	3795000	11,825,220	2%	521,255,698	$ 5,186,494,191.12
Width	115	120
Depth	30	40	7200000	22,435,200	2%	988,943,616	$ 9,839,988,979.20
Mass Weight	4.34
Diss Weight	2.98					Difference	$ 4,653,494,788.08
10% Mass 90% Dis	3.116

Resource Expansion Calculation
	From 43-101	New	M3 of Rock	Tonnes of Rock	%Ni	Pounds of Ni	Total Ni $$
Length	1100	2000	3795000	11,825,220	2%	521,255,698	$ 5,186,494,191.12
Width	115	115
Depth	30	30	6900000	21,500,400	2%	947,737,632	$ 9,429,989,438.40
Mass Weight	4.34
Diss Weight	2.98					Difference	$ 4,243,495,247.28
10% Mass 90% Dis	3.116

Resource Expansion Calculation
	From 43-101	New	M3 of Rock	Tonnes of Rock	%Ni	Pounds of Ni	Total Ni $$
Length	1100	2000	3795000	11,825,220	2%	521,255,698	$ 5,186,494,191.12
Width	115	125
Depth	30	40	10000000	31,160,000	2%	1,373,532,800	$ 13,666,651,360.00
Mass Weight	4.34
Diss Weight	2.98					Difference	$ 8,480,157,168.88
10% Mass 90% Dis	3.116

Resource Expansion Calculation
	From 43-101	New	M3 of Rock	Tonnes of Rock	%Ni	Pounds of Ni	Total Ni $$
Length	1100	1100	3795000	11,825,220	2%	521,255,698	$ 5,186,494,191.12
Width	115	115
Depth	30	40	5060000	15,766,960	2%	695,007,597	$ 6,915,325,588.16
Mass Weight	4.34
Diss Weight	2.98					Difference	$ 1,728,831,397.04
10% Mass 90% Dis	3.116