Retransmission: Lund Gold and Noront Resources Ltd. Provide Project Update
17 7월 2008 - 9:30PM
Marketwired
VANCOUVER, BRITISH COLUMBIA and TORONTO, ONTARIO ("Lund") and
Noront Resources Ltd. (TSX VENTURE: NOT) ("Noront") are pleased to
release the following project update on their Lund property. The
Lund Property is located approximately 25 km. north northeast of
Noront's Eagle One Magmatic Massive Sulphide discovery in the "Ring
of Fire" area of the James Bay Lowlands. Nakina, Ontario lies
approximately 300 km. south - southwest of the property.
The Eagle One deposit has recently been the focus of a 43-101
compliant resource study that identifies an initial indicated
resource of 1,834,000 tonnes grading 1.96% nickel, 1.18% copper,
0.15g/t gold, 1.12g/t platinum, 3.91g/t palladium and 3.81g/t
silver. Additionally, the study outlined an inferred resource of
1,087,000 tonnes grading 2.39% nickel, 1.27% copper, 0.13g/t gold,
1.37g/t platinum, 4.50g/t palladium and 4.21g/t silver. This
discovery was made in late August of 2007 and kicked off a major
staking rush. Over 35 mining companies currently hold interests in
the area that has been loosely dubbed the "Ring of Fire" by the
various participants.
Additional discoveries have been made in the vicinity by the
Spider Resources Inc., KWG Resources Inc. joint venture where as of
July 15, 2008 a National Instrument 43-101 compliant resource of
802,000 tonnes grading 3.75% copper and 1.1% zinc at their
Mcfauld's 3 volcanic hosted massive sulphide deposit was announced.
WSR Resources Inc., Metalex Ventures Ltd. and Arctic Star Resources
Inc. have recently announced intersections of Volcanic Derived
Sulphides
Recent Vtem surveys have been completed over the Lund - Noront
project area, known as the Lund Property. Preliminary results
indicate the presence of a number of aeromagnetic and
electromagnetic anomalies that indicate the presence of bedrock
conductors. Depending on the results of final interpretation and a
property examination, a follow up program will be outlined for
execution during this year. This program will consist of ground
surveys and/or diamond drilling. Noront is the operator of the
project and plans to schedule the follow up to these airborne
surveys over the next month.
The Lund property consists of 13 claims that total 169 units.
For terms of the agreement please refer to Lund news release dated
February 4, 2008. Upon Lund satisfying the terms of the agreement
to earn 50%, a joint venture will be formed with Noront acting as
the Operator.
On Behalf of the Board of Directors of LUND GOLD LTD.
Chet Idziszek, President
On Behalf of the Board of Directors of NORONT RESOURCES LTD.
Richard Nemis, President and CEO
Cautionary Statement
This document contains "forward-looking statements" within the
meaning of applicable Canadian securities regulations. All
statements other than statements of historical fact herein,
including, without limitation, statements regarding exploration
results and plans, and our other future plans and objectives, are
forward-looking statements that involve various risks and
uncertainties. Such forward-looking statements include, without
limitation, estimates of exploration investment and the scope of
exploration programs. There can be no assurance that such
statements will prove to be accurate, and future events and actual
results could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from our expectations are disclosed in the
Company's documents filed from time to time via SEDAR with the
Canadian regulatory agencies to whose policies we are bound.
Forward-looking statements are based on the estimates and opinions
of management on the date the statements are made, and we do not
undertake any obligation to update forward-looking statements
should conditions or our estimates or opinions change.
Forward-looking statements are subject to risks, uncertainties and
other factors, including risks associated with mineral exploration,
price volatility in the mineral commodities we seek, and
operational and political risks.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
Contacts: Lund Gold Ltd. David Scott Investor Relations (604)
331-8772 (604) 331-8773 (FAX) Email: dscott@mine-tech.com Website:
www.lundgold.com Noront Resources Ltd. Neil Novak Vice President
Corporate & Aboriginal Affairs (416) 864-1456 Website:
www.norontresources.com
Lund Enterprises Corporation (TSXV:LGD)
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Lund Enterprises Corporation (TSXV:LGD)
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