Noront Resources has raised $10 million in private placement financing to continue their exploration work at McFauld's Lake in the James Bay lowlands.
That brings the company's exploration coffers up to $22 million to drill targets on its multiple properties of high-grade nickel, copper, platinum group metals and chromite properties in the Ring of Fire. Its flagship project is the Eagle's Nest.
The company has also released assay results from its McFaulds Lake project Nov. 29 showing the discovery of a footwall vein enriched with elevated platinum, palladium and gold at both its Eagle's Nest and its new Blackstone chromite zone.
Noront is also engaged in some regional drilling north of Eagle's Nest and has plans to resume drilling in mid-January at its AT-12 discovery.
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