Noront Announces Copper-Zinc Resource Estimate for Nikka Deposit in the Ring of Fire

TORONTO, May 11, 2020 (GLOBE NEWSWIRE) -- Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to report a maiden resource estimate for the No. 8 sulfide lens and updated resource estimates for the No. 1 and No. 3 sulfide lenses.  Given their close proximity, these lenses will be known as the Nikka copper-zinc deposit at the Company’s 85% owned McFaulds VMS property in the Ring of Fire (Table 1). Nikka means Canada Goose in Ojicree and maintains the boreal forest bird theme that Noront follows in naming its various deposits.

The Company discovered the No. 8 lens in 2017 after a bore-hole EM survey of a historic drill hole into the footwall of the No. 3 lens identified a strong off-hole conductor.  Between 2017-2019, the Company drilled 14 holes totalling 7,717 metres in the vicinity of the No. 8 lens to define the maiden resource reported today.

“Discovery of the No. 8 sulfide lens has increased the contained copper in Inferred resources at McFaulds by a factor of ten,” said Noront Vice President Exploration Ryan Weston. “Furthermore, based on our geological understanding and the promising targets we’ve generated since we began exploring here in 2017, we believe there is much more to be found at McFaulds.”

To see an image of Table 1 - Nikka Copper-Zinc VMS Deposit Resource Estimate click here: https://www.globenewswire.com/NewsRoom/AttachmentNg/5217f872-51d9-4c83 ...

The updated resource estimate was supervised by Alan Aubut, PGO, an independent qualified person as defined by NI-43-101. The company plans to file a supporting NI-43-101 report within 45 days.

Figure 1: 3D view of the Nikka deposit block model showing the No. 3, No. 8 main and No. 8 footwall sulfide lenses: https://www.globenewswire.com/NewsRoom/AttachmentNg/1c658bcf-40d1-4d1e ... 

The No. 1 and No. 3 sulfide lenses were discovered in 2002-03 by previous operators. In 2008 an initial resource estimate for these two lenses was prepared by RPA. In the fall of 2019, the company acquired more accurate down-hole orientation data through the No. 3 lens with modern instrumentation and has since revised the geologic model for both the No. 1 and No. 3 lenses.

The McFaulds volcanic basin, at over 7km in length and up to 3km in thickness, possesses at least four productive VMS exhalative horizons (Figure 2), the most prospective to date being the Nikka horizon which hosts the No. 1, 3, 6, 8, 9 and 10 sulfide lenses. Vertical stacking of sulfide lenses within the McFaulds basin is interpreted to reflect the presence of primary syn-volcanic faults along which hydrothermal fluids ascended during VMS mineralization.