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Noront Resources Ltd.
Summary
| Project: | Ring of Fire | |
|---|---|---|
| Deposit: | McFaulds | |
| Location: | Canada | |
| Commodities: | Copper-Zinc-Silver-Gold | |
| Date: | 5/7/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-5-2018: Noront Resources Ltd. announces an Exploration/Drilling Update report for its McFaulds deposit at the Ring of Fire project. Drilling results incl. 6.7m @ 1.3% Cu, 5.9% Zn, 10.3g/t Ag, 0.5g/t Au. TORONTO, ONTARIO—May 7, 2018—Noront Resources Ltd. | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ryan Weston (Internal) | |
| ABSTRACT: | TORONTO, ONTARIO—May 7, 2018—Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to provide an update on the copper-zinc focused exploration program at its 85% owned McFaulds property in the Ring of Fire. In March the company completed a 3-hole 1,134m drill program on its McFaulds VMS property following up on the recent success of the McFaulds No.8 VMS discovery last fall. The program which includes drill holes MCF-18-90, 91 and 92 was designed to test the up-dip continuity of McFaulds No.8 as well as test a recently identified high-priority borehole EM anomaly located 500m to the northeast along the same VMS trend. Hole MCF-18-92, a 70m step-out from the previously drilled MCF-17-89, targeting a borehole anomaly up dip on McFaulds No.8, intersected the main horizon at 447.9m depth downhole, returning 6.7m grading 1.3% copper, 5.9% zinc, 10.3 g/t silver and 0.5 g/t gold (Table 1, figure 1). This intersection represents a significant increase in zinc grades from the previous two intersections which collectively suggest a metal zonation pattern of increasing zinc content up-dip and increasing copper content downdip. Borehole EM surveying of this hole indicates increased conductance off-hole and further up-dip. The three holes to date at McFaulds No.8 have defined a steeply plunging sulfide lens continuous for 135m in dip and roughly 75m in strike and open in virtually all directions. In addition to the continued expansion of McFaulds No.8, hole MCF-18-92 intersected a new VMS exhalative horizon, herein referred to as McFaulds No.10, located 50m in the hanging wall to McFaulds No.8. This new zone consists of two thin (15-20 cm) bands of massive sphalerite intersected at 401.0m which returned 0.5m grading 25.7% zinc. Importantly, this new horizon is contained within a thick sequence of intense chlorite alteration which continues well into the footwall of the zinc-rich exhalative and which contains 29m of anomalous zinc and silver mineralization (Table 1, figure 1). The silver values in this footwall alteration zone, including 6.0m grading 35.1g/t from 422.0-428.0m, represent some of the highest values seen on the McFaulds property and, coupled with the intense geochemical alteration and widespread zinc mineralization suggest this hole is on the edge of another large VMS system not previously identified in historic drilling. The stacked nature of VMS mineralization in this area with the McFaulds No.3, No.10 and No.8 horizons in such close proximity suggest this region of the property is likely underlain by a syn-volcanic structure which are prime targets for large VMS hydrothermal systems. | |
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