Precious metal values intersected by Noront

The property, under option from Noranda Exploration, is situated 30 km southeast of Sioux Narrows in the Lake of the Woods region.

Noront reports that a recent diamond drill hole on the property has intersected 0.65% copper, 0.42 oz gold and 1.42 oz silver per ton across a width of 7.9 ft. The drill hole was testing a sulphide-rich sericite schist unit. The precious metal values are associated with sulphide mineralization within a felsic pyroclastic sequence. The zone is one km south of the Cameron-Pipestone deformation zone.

Noront has the right to earn up to a 50% interest in the Chisholm Island property by committing to spend $1.5 million. Noranda has agreed to be the operator.

Richard Nemis, president of Noront, says the recent drill results have prompted his company to acquire addition claims in the area by staking.

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