Noront Updates its Double Eagle Project, McFaulds Lake Area Northeastern Ontario; its Burnthill Tungsten Deposit New Brunswick and Inner Mongolian Copper/Gold Project, China.TORONTO -- DOUBLE EAGLE PROJECT MCFAULDS LAKE, ONTARIO NORONT RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:NOT) has been advised by Hawk Precious Minerals Inc. the Company's joint venture partner (CNQ CNQ Cost of Non Quality CNQ Canadian Trading & Quotation System Inc. CNQ Club Neon Quebec (Quebec Neon Club) :HAWK) that it has mobilized a helicopter-borne airomagnetic-electromagnetic "VTEM" survey on the Company's Double Eagle Project in the McFaulds Lake area of James Bay James Bay, shallow southern arm of Hudson Bay, c.300 mi (480 km) long and 140 mi (230 km) wide, E central Canada, in Nunavut Territory between Ont. and Que. Numerous rivers flow into the bay; many of these have been developed for hydroelectric power in Quebec (see Lowlands region of northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it . The survey underway will cover acreage not previously covered by airborne geophysics. Hawk has the option to earn a 50% interest in two large claim blocks covering approximately 23,800+ acres in the McFaulds Lake area northeastern Ontario Northeastern Ontario is the region within the Canadian province of Ontario which lies north and east of Lakes Superior and Huron. Northeastern Ontario consists of Algoma District, Sudbury District, Cochrane District, Timiskaming District, Nipissing District, Manitoulin currently held by the Company. The claims are located to the south and west of the original Spider/KWG claim group where they announced (see press releases of February 19 and 23, and May 11, 2004), the following drilling results: 13.8m of 5.5% copper including 4.63m of 10.4% copper; a second hole returned 15.0m of 4.06% copper including 3.31m of 9.98% copper and a third hole of 8.0m of 6.5% copper, 3.45% zinc, 0.42 g/t gold and 15.5 g/t silver; and in their release of November 8, 2004 an 18.8m massive sulphide intersection grading 8.02% copper. A number of priority targets have been identified on the balance of the property by previous airborne and ground surveys carried out in 2003 and 2004, which will be followed up in a winter drill program. BURNT HILL Burnt Hill is a hamlet in Berkshire, England. It is situated just north of the M4 motorway in West Berkshire and is in the civil parish of Yattendon, which is also the closest village. TUNGSTEN DEPOSIT, NEW BRUNSWICK The Company has been advised by Dr. W. Ewert P.Geo the Company's designated qualified person, that it should be in receipt by February 15th, 2005 of a report commissioned to update a previous feasibility study completed a number of years ago covering the Burnt Hill Tungsten Deposit. The Burnt Hill Tungsten Deposit hosts (as calculated in the 1970's by A.C.A. Howe International Limited) a mineable mineral resource of the mineral wolframite wolframite (w l`frəmīt'), reddish-brown to grayish-black lustrous mineral, a tungstate of iron and manganese, (Fe,Mn)Wo4, occurring in crystals of the monoclinic system. and which deposit remains open in all directions Tungsten is considered a strategic metal and the prices of tungsten concentrates are currently around US $54.00 per metric ton unit of W03 from wolframite concentrate. Markets are seeing a shortfall of tungsten material particularly since the Chinese appear to be adhering to World Trade Organization pricing and the Americans (military included) are switching to tungsten bullets and shot due to the environmental concerns of lead pollution. Upon receipt of this new up dated report, the Company will be in a better position to evaluate its options regarding the development of the deposit. TIE JIANG YING ZI PROPERTY, INNER MONGOLIA, CHINA Noront entered into an agreement to purchase 100% interest in this property, which consists of a mineral rights permit comprising 5.16 square kilometres. Since signing a Letter of Intent, Noront has been working with the property owners and the various levels of government to formalize an agreement to conform with the laws of China and securities regulations covering this copper/gold project. Noront has formed a foreign investment company in Inner Mongolia to carry out mineral exploration and development. BaoTou Noront Mineral Development Co. Ltd. will be able to acquire a 100% interest in the Tie Jiang Yng Zi property and other mineral properties, by purchasing the mineral rights from private Chinese companies or by applying for the mineral rights of new properties from the various Chinese Departments responsible for the Land and Mineral Rights. Since mineral rights belong to the people of China, the process of transferring the rights is quite complex and slow, particularly since Noront is the first foreign enterprise in Inner Mongolia to go through this process. Noront has retained legal counsel in China and is currently proceeding with the required paperwork in order to secure the required licenses and title required by Canadian Security Regulators. On a field visit by management of Noront to the property last year, two selective grab samples where taken from a 5 meter deep pit, which had reached bedrock. Assays were performed by SGS SGS Société Générale de Surveillance SGS Symantec Gateway Security (appliance) SGS School of Graduate Studies SGS Subgrid Scale SGS Singapore Government Securities SGS Shell Global Solutions Assay Labs in Toronto, utilizing FA30G for gold and ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. 70 for the other elements. The samples were taken by Norman Brewster P.Geo and Uldis Abolins P.Eng. The assays returned spectacular values of 1715.8 gm Au/mt, 338 gm Ag/mt and over 1% Cu in a bedrock sample taken from the bottom of the pit (visible gold was observed in bedrock) and 11.9 gm Au/mt, 9.2 gm Ag/mt and over 1% Cu from a rubble sample collected in the pit. The mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. appears to be related to a gold-copper porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. system. The only work observed to have ever been done over the project area was the digging of a pit to bedrock. ON BEHALF OF THE BOARD OF DIRECTORS "R. Nemis" Richard Nemis President and Chief Executive Officer The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Noront Resources Ltd. (TSX VENTURE:NOT) |
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