Noront Resources Ltd.
TSX VENTURE : NOT

Noront Resources Ltd.

December 29, 2006 12:16 ET

Noront Reports Remaining Assays at Windfall Lake, Underground Exploration Planned

TORONTO, ONTARIO--(CCNMatthews - Dec. 29, 2006) - NORONT RESOURCES LTD. (TSX VENTURE:NOT) is pleased to announce the following results from diamond drilling on its wholly owned Windfall Lake property in Urban Township, Quebec.

The eight holes reported herein are the remaining assays being awaited from the most recently completed diamond drilling program that resulted in the completion of 12 new holes totaling 3297.9 meters.

The holes tested the mineralized gold zones previously discovered by Noront and warranting further testing as recommended by Tracy Armstrong (a qualified geologist in the Province of Quebec) of P & E Mining Consultants (Brampton, Ontario).

The following table lists the new drill holes giving the hole locations, direction and significant assay intervals. True widths of the gold zones being reported is not known at this time.



TABLE
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ASSAY SUMMARY
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SIGNIFICANT GOLD MINERALIZATION
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DRILL GRID CORE WIDTH ASSAYS
HOLE LOCATION AZIMUTH DIP INTERVAL -----------------------------
(meters) g/ Oz/
METERS FEET tonne ton
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NOT-06-101 1362W, 140 -65 265.00-
480N degrees degrees 275.00 10.00 32.8 5.1 0.15
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Including 265.00-
265.75 0.75 2.5 36.9 1.08
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and 265.75-
274.00 8.25 27.0 1.3 0.04
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and 274.0-
275.00 1.00 3.3 11.9 0.35
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307.00-
312.40 5.40 17.7 4.4 0.13
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Including 307.00-
309.40 2.40 7.9 8.6 0.25
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and 309.40-
312.40 3.00 9.8 2.3 0.07
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420.60-
421.35 0.75 2.5 7.4 0.22
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NOT-06-102 1415W, 145 -70 Hole stopped due to excessive
437N degrees degrees deviation at 23.0m
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NOT-06-103 1415W, 145 -70
440N degrees degrees No significant assays
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NOT-06-104 892W, 145 -60 108.30-
562N degrees degrees 108.75 0.45 1.5 5.9 0.17
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114.90-
115.20 0.30 1.0 4.6 0.13
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122.30-
123.70 1.40 4.6 7.1 0.21
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NOT-06-105 936W, 145 -60 43.80-
535N degrees degrees 45.00 1.20 3.9 5.4 0.16
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103.90-
107.30 3.90 12.8 7.7 0.22
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118.20-
118.50 0.30 1.0 5.2 0.15
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174.35-
175.60 1.25 4.1 2.8 0.08
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NOT-06-106 933W, 145 -62 103.70-
584N degrees degrees 105.00 1.30 4.3 3.5 0.10
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105.00-
107.15 Not sampled
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107.15-
109.35 2.20 7.2 3.2 0.09
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NOT-06-107 970W, 145 -64 36.20-
550N degrees degrees 37.20 1.00 3.3 5.2 0.15
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59.20-
60.10 0.90 3.0 5.8 0.17
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66.00-
66.35 0.35 1.1 4.8 0.14
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112.60-
113.30 0.70 2.3 10.1 0.29
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NOT-06-108 1031W, 140 -55 224.60-
549N degrees degrees 225.30 0.70 2.3 10.6 0.31
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250.15-
250.50 0.35 1.1 13.2 0.39
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268.50-
268.90 0.40 1.3 24.6 0.72
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312.30-
313.20 0.90 3.0 5.4 0.16
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325.40-
325.90 0.50 1.6 4.8 0.14
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Assay samples are taken from (NQ) drill core sawed in half with one half sent to Bourlamaque Assay Laboratory located in Val d'Or, Quebec for assaying. The remaining half core is stored in a secure location for future reference and testing. The gold assay method uses a 30-gram fire assay aliquot with atomic absorption or gravimetric finish on each sample. Significant high assay results are checked by the laboratory by re-assaying additional pulps from the sample using the standard and/or the metallic screening(TA1) method. Additional checks are carried out on a regular basis on pulp duplicates and preparation duplicates. The Bourlamaque Assay Lab also uses Certified Reference Material as part of their internal monitoring program for accuracy.

Gold assay results as reported to the company are in parts per million (ppm) and reported publicly by the company in grams per tonne. Conversion to ounces per ton (oz/ton) on the attached Table employs a factor of 34.285 grams per tonne equaling 1 troy ounce per short ton and core width of significant zones is also given in feet (1.0 meter equals 3.28 feet).

John Harvey, P. Eng., is the company's qualified person for the technical information in this release under National Instrument 43-101 guidelines.

The gold mineralization encountered in the drill core to date at Noront's Windfall Lake property occurs within a massive, homogeneous acid-felsic volcanic pyroclastic or porphyritic rock mass tested within a block 800 meters long by 800 meters wide down to a vertical depth of 400 meters. The numerous significant gold assays (see previous press releases) returned to date are directly associated with silica, tourmaline, chlorite, carbonate, etc. accessory minerals.

This assemblage of gold-bearing minerals observed from the widely spaced drill holes completed to date are concentrated within several discontinuous, discreet lenses occurring within parallel, closely spaced north-east trending, steeply northwest dipping fault structures marked by zones of more continuous, pyrite mineralization. Additional fault trends oriented differently are believed to have influenced the final orientation and concentration of the gold mineralization and drilling to date has not revealed any dominant trend to follow with drilling.

As a result the company's geologists to date have been unable to predict with any degree of certainty the gold resource potential at the Windfall Lake property from the sparse sampling of the host volcanic rockmass by the diamond drill holes completed thus far.

Noront's Management has concluded a more adequate test of the property's gold potential is through bulk sampling of the auriferous pyrite zones to ascertain the content and dimensions of any potentially economic gold mineralization and other geological controls not evident in diamond drill holes.

To accomplish this task, early in February a series of short, closely spaced diamond drill holes will be completed to facilitate later sub-surface ramping and drifting to proceed where more reliable sampling and geological mapping can be accomplished. The underground excavations will be completed by contractors after the successful completion of necessary permitting requirements from the applicable regulatory bodies within the Quebec government.

The company is adequately funded to complete the latter program within the 2007 calendar year if possible.

Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 86,882,692 shares issued to date.

ON BEHALF OF THE BOARD OF DIDRECTORS

"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.

Contact Information

  • Noront Resources Ltd.
    Richard Nemis
    (416) 864-1456
    (416) 367-5444 (FAX)
    Email: info@norontresources.com
    Website: www.norontresources