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The “Ring of Fire” located in the James Bay Lowlands has been deemed a significant base metal and chromite belt recognized by the Ontario government and Canada’s mining industry.
Noront Resources most recent NI 43-101 resource estimate for Eagle’s Nest deposit has significantly increased and is now estimated to contain:
Measured and Indicated resource of 11.0million tonnes grading 1.78% Ni, 0.98% Cu,
0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au;
Inferred resource of 9.0 million tonnes grading 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and
3.49 gpt Pd and 0.30 gpt Au;
Inferred resource of 1.6 million tonnes grading 0.31% Ni, 0.09% Cu, 0.12 gpt Pt and
0.45gpt Pd and 0.04 gpt Au;
Noront continues to aggressively expand known deposits and explore for additional mineralization to make the ROF a major contributor to the growing economic viability of this remote region.
After Freewest Resources and the Spider Resources/Freewest/KWG Resources joint venture chromite discoveries, the “Ring of Fire” now holds one of North America’s largest undeveloped chromite deposits. These discoveries have lead to the acquisition of Freewest Resources, Spider Resources and a large investment in KWG by Cliffs Natural Resources of the USA. The Cliffs Chromite Projects exploration efforts to date have consisted of geophysics and diamond drilling to delineate the Black Thor chromite zone. The current inferred mineral resource estimate indicates the Black Thor deposit contains approximately 69.5 million tonnes at a grade of about 31.9% Cr2O3. Cliffs has initiated a pre-feasibility study to more accurately determine the viability of this project. This is an important milestone for the transition of ROF as an exploration play, to a potential mining camp.
White Pine Resources joins the rank of significant discoveries in the James Bay Lowlands for 2008 with the discovery of an important Zn-Cu-Pb-Ag occurrence on its White Pine Resources- Metalex Ventures joint venture, the 501 project. White Pine also continued with its success through the Noront Resources-Golden Valley Mines joint venture by discovering other VMS-style Zn-Cu-Ag occurrences nearby the 501 deposit.