Noront Resources Ltd.: Double Eagle Update
NORONT RESOURCES LTD NOT
4/25/2008 8:50:31 AM
TORONTO, ONTARIO, Apr 25, 2008 (MARKET WIRE via COMTEX News Network) --
Noront Resources Ltd. (TSX VENTURE: NOT) -
Due to numerous inquiries regarding assay results from the Company's project in the McFaulds Lake area, the following is an update on the current status. Since January split core samples have been sent to SGS Mineral Services Laboratory ("SGS") in Toronto and to date, none of the nineteen sample batches representing some 760 individual samples sent to the laboratory have returned results that are acceptable in terms of quality assurance and quality control to the Company and its Quality Control and Quality Assurance ("QA/QC") consultants.
Noront management reports that a number of certified reference material failures in the laboratory have occurred and as such the recent drilling results have been delayed while the lab re-runs the affected work orders and as such complete assays from the drilling programs are not available for release. Certified reference samples are routinely as well as randomly inserted into the sample work orders to monitor analytical results.
Richard Nemis, President and CEO states: "It is indeed unfortunate that at such a critical time in our exploration program there was this sort of unexpected failure in the laboratory used for our project. It is fortunate, however, that the errors were caught by Noront's independent QA/QC consultant management in a timely manner, prior to the results being entered into our project database. Catching these laboratory failures attests to the very stringent quality control and quality assurance protocols that are in place for the Eagle One project as well as all other drill tests, including Eagle Two. Noront's QA/QC program has been in place since October 2007. Our technical advisors assure us that this particular quality control issue does not relate to any assay results that have been previously released, and furthermore the delays in achieving acceptable results from the laboratory have no bearing on the actual results that will be forthcoming."
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL
A comprehensive QA/QC program has been implemented to monitor all assays on the Double Eagle Project and has been in effect since October 2007. Samples are assembled in numbered batches equating to the number of client samples per furnace batch at the Laboratory. Included in each batch of samples are certified reference material samples, blank samples comprised of sterile drill core, as well as field duplicate samples. This QC program was set up for Noront by Tracy Armstrong P.Geo, of P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario. Ms. Armstrong is a qualified geologist in the Provinces of Ontario and Quebec. Part of the QA/QC requires that assay results are being monitored on an on-going, real time basis for accuracy, contamination and precision by P&E. The sample set results are reviewed by Ms. Armstrong for each work order, and do not get a "green light" for entry into the data base until all QC passes as per the protocol established prior to the program between Noront and the laboratory.
Noront has been kept up to date with the progress on this situation by its' consultants and would like to provide the clarification that all is now in order. Checked assay results will be available for the drilling completed in the first few months of 2008 as soon as they are received from, SGS. SGS has assured the Company and its consultants, that it intends to give this matter top priority!
As announced on March 25, 2008, resource studies at the Eagle One have commenced but this work, as well as progress on the anomaly drilling, has been hampered by this extremely lengthy turn-around time for drill core sample analysis. This is due to the current heavy demand on the Analytical Laboratories. To alleviate the slow turn - around time for assays, the Company has entered into an agreement with Activation Laboratories ("ActLabs"), headquartered in Ancaster, Ontario, whereby ActLabs will provide priority processing to the Company in exchange for a $200,000 advance payment used by ActLabs to construct a new lab facility in Thunder Bay, Ontario. ActLabs will reimburse Noront at a rate of $5 per sample processed. At present the new laboratory in Thunder Bay is accepting samples from the Double Eagle project and providing sample preparation. The resulting sample pulps are forwarded to the ActLabs Ancaster facility for final analysis. It is expected that the total analytical process will begin to be accomplished in Thunder Bay sometime in May of this year. Noront anticipates that this will substantially speed up the turn-around time for analytical results.
This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".
Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 128,568,083 shares issued to date.
Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
ON BEHALF OF THE BOARD OF DIRECTORS:
R. Nemis, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Noront Resources Ltd. Richard Nemis (416) 864-1456 (416) 367-5444 (FAX) Email: info@norontresources.com Website: www.norontresources.com
SOURCE: Noront Resources Ltd.
