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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JJ Email - error - insight - July core?

Noront Resources

over 14 years ago

Hello All,

Been a long time since I’ve posted – but figured I would give a shot at something of substance since a lot are complaining about a lack of.

Did anyone else see the potential error in JJ’s email to Cupcake (see below) – with her commenting on a May 30th release. The press release cited by JJ says May 30th – but I couldn’t find this one on NOT site.

On a different note - when I went browsing on NOT site reading releases, it sounds to me like deep drilling started around the last week of April. See press releases below for timelines. Then, if you use this recent JJ 10-12wk timeline lag between drilling and results – it means that 10wks is next Monday, 12weks is Mid July, and 14wks Early August.

The excerpts that I based my thoughts on are below.

On March 30th a release said “The first of two drills capable of drilling to depths of 2,000 metres (vertical) from surface has arrived and is being assembled. The second drill is expected to arrive within the next seven to ten days.

In the April 26th release, " The deep drilling program at Eagle's Nest has been delayed by approximately two weeks, due to difficulties faced by our drill contractor, Forage Orbit, with travel logistics into the Camp and in locating specialized crews necessary to operate these new drills. Both deep drills are now on site and are fully crewed and deep drilling has begun with one of the drills.

Therefore deep drilling started with one drill around April 26th.

From the May 12th release,

“Both of the new deep drills, designed to test Eagle's Nest to a depth of over two kilometers, are producing core and there are three additional drills performing infill drilling and testing for high grade mineralization along structural trends.”

Finally, if you factor in that Noront prefers to release a suite of core results rather than individual cores (again JJ information courtesy of Cupcake), there will be some flexibility around July-August release of data.. Unfortunately, I think this means we could be waiting on core for sometime – which may be a reason for the lack of information/interest/volume/decent posts/etc on NOT. Just some musings from a West Coaster that is finally enjoying some sun.

Here’s the email from JJ to Peter AKA Cupcake that contained the timeline and the erroneous comment on May 30th Press release. (Thanks Peter for the DD)

Dear Peter,

We at Noront understand your concern and we assure you that the Company releases information once we have received, compiled and analyzed the data. We do not release visual results or incomplete results, nor do we release results on a hole by hole basis. Which, on occasion does cause us to hold drill results back so that we can release a number of drill holes simultaneously. We do not, as standard practice, prioritize or “rush” our samples as we are not the sole client of the assay facility where our samples are being analyzed.

Exploration drilling at McFauld’s Lake resumed in late March, largely on infill holes at Eagle’s Nest and AT-12. Deep drilling at Eagle’s Nest was delayed as previously disclosed in our Press Release dated May 30 due to mobilization of deep drills. Furthermore, we released results from Eagle’s Nest infill drilling in early June. This indicates a ten to twelve week lag between drilling and results which, given our suite of metals being assayed, is an acceptable time assumption. Also, I must remind you that we have just completed a successful equity raise which will allow us to keep drills turning on Eagle’s Nest and regional targets as well as assist in further feasibility and development and de-risking the project to the benefit of all stakeholders.

To date, our exploration efforts have recently more than tripled the resource base of the company and we are hopeful that we will again increase the resource base in the near future. This is true value. The new resource additions originate from an area previously believed to be barren of mineralization. While this resource increase has not, as yet, translated into tangible value, we expect that in the long run, our shareholders will derive tangible benefits from this discovery.

Best regards,

JJ