Noram Ventures Inc.
Wednesday, February 15, 2017 - 7:00 AM EST

Drill Results Deliver Highest Lithium Values to Date from Noram and Alba’s Clayton Valley Project

Results from initial 10 holes return lithium values ranging from 600 ppm to a high of 2,320 ppm over 1.22m intervals with an interval-weighted average value of 1,087.1 ppm lithium



Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) ("Noram" or the "Company") and Alba Minerals Ltd. (“Alba”) (TSX-V: AA.H AXVEF:US) are pleased to announce the initial sample results from the first 10 holes of the 46-hole Phase I core drilling program that focused on the Zeus portion of its Clayton Valley Lithium Project in Nevada (see Figure 1). The Zeus claims are located within two kilometers (1.25 miles) of Albemarle’s Silver Peak Lithium Mine that has been in production since 1966 and is the only lithium-brine production operation in North America.

 

The 10 holes consisted of 139.3 meters (457 feet) of core drilling with an average hole depth of 13.9 meters (45.7 feet) and core sampling done primarily on 1.22 meter (4-foot) intervals. Bradley C. Peek, MSc and Certified Professional Geologist supervised the collection of the cores and samples; and sample analysis was performed by ALS Labs (Reno, NV) on 116 samples from the 10 holes using a 4-acid digestion and MS-ICP methods for 48 elements.

 

Table 1 lists each drill hole’s location (NAD 83, Zone 11S), elevation and depth – all in meters.  All holes were vertical.  All core size was BQ.

 

Table 1 – Drill Hole Location Information

 

Hole ID

UTM Easting

UTM Northing

Approx. Elev.

Depth

Dip

CVZ-01

455519.5

4180579.7

1369.6

15.1

-90

CVZ-02

455574.9

4180542.2

1353.7

14.6

-90

CVZ-03

455583.5

4180419.2

1357.4

14.5

-90

CVZ-04

455652.1

4180441.4

1357.9

14.0

-90

CVZ-05

455624.4

4180375.4

1360.8

13.4

-90

CVZ-06

455840.1

4180350.4

1362.5

11.0

-90

CVZ-07

455608.8

4180596.2

1356.3

14.6

-90

CVZ-08

455684.3

4180599.5

1357.0

14.5

-90

CVZ-09

456084.3

4180778.6

1369.3

15.2

-90

CVZ-12

456147.2

4180742.4

1371.4

12.2

-90

Drill holes CVZ-01 through CVZ-08 are located in an area measuring approximately 366 meters (1,200 feet) by 213 meters (700 feet ). The other two holes, CVZ-09 and CVZ-12 are located approximately 366 meters (1,200 feet) northeast of the main drill-hole grouping (see Figure 2). Lithium values were found to be very consistent across both groupings.

 

Table 2 lists the samples, their intervals, their weights and their lithium analytical results.  The core holes were vertical and the sedimentary units that were tested are horizontal or dipping at less than 5º, so the intervals sampled are true widths. 

 

Hole ID

Sample ID

Sample Wt. (kg)

From

(ft)

To

(ft)

From

(m)

To

(m)

Li

(ppm)

CVZ-01

289501

0.76

0

4

0.00

1.22

1010

CVZ-01

289502

0.4

4

8

1.22

2.44

1010

CVZ-01

289503

0.58

8

12

2.44

3.66

1050

CVZ-01

289504

0.8

12

16

3.66

4.88

1120

CVZ-01

289505

0.7

16

20

4.88

6.10

840

CVZ-01

289506

0.82

20

24

6.10

7.32

940

CVZ-01

289507

0.66

24

28

7.32

8.53

790

CVZ-01

289508

0.72

28

32

8.53

9.75

750

CVZ-01

289509

0.7

32

36

9.75

10.97

760

CVZ-01

289510

0.72

36

40

10.97

12.19

1010

CVZ-01

289511

0.76

40

44

12.19

13.41

710

CVZ-01

289512

0.76

44

48

13.41

14.63

910

CVZ-01

289514

0.36

48

49.5

14.63

15.09

990

CVZ-02

289515

0.42

0

4

0.00

1.22

940

CVZ-02

289516

0.96

4

8

1.22

2.44

1410

CVZ-02

289517

0.76

8

12

2.44

3.66

1000

CVZ-02

289518

0.86

12

16

3.66

4.88

1060

CVZ-02

289519

0.9

16

20

4.88

6.10

770

CVZ-02

289520

0.72

20

24

6.10

7.32

920

CVZ-02

289521

0.56

24

28

7.32

8.53

1140

CVZ-02

289522

0.4

28

32

8.53

9.75

1090

CVZ-02

289523

0.62

32

36

9.75

10.97

850

CVZ-02

289525

0.72

36

40

10.97

12.19

920

CVZ-02

289526

0.8

40

44

12.19

13.41

780

CVZ-02

289527

0.62

44

48

13.41

14.63

720

CVZ-03

289551

0.34

0

4

0.00

1.22

1630

CVZ-03

289552

0.9

4

8

1.22

2.44

1190

CVZ-03

289553

0.86

8

12

2.44

3.66

1100

CVZ-03

289554

0.92

12

16

3.66

4.88

1330

CVZ-03

289555

0.8

16

20

4.88

6.10

810

CVZ-03

289556

0.82

20

24

6.10

7.32

910

CVZ-03

289557

0.86

24

28

7.32

8.53

1300

CVZ-03

289558

0.48

28

32

8.53

9.75

1220

CVZ-03

289559

0.7

32

36

9.75

10.97

1200

CVZ-03

289560

0.86

36

40

10.97

12.19

1280

CVZ-03

289561

0.92

40

44

12.19

13.41

950

CVZ-03

289562

0.64

44

47.5

13.41

14.48

1050

CVZ-04

289563

0.94

0

4

0.00

1.22

1850

CVZ-04

289564

0.6

4

8

1.22

2.44

1200

CVZ-04

289565

0.84

8

12

2.44

3.66

1050

CVZ-04

289566

0.72

12

16

3.66

4.88

1160

CVZ-04

289567

0.72

16

20

4.88

6.10

880

CVZ-04

289568

0.66

20

24

6.10

7.32

1090

CVZ-04

289569

0.68

24

28

7.32

8.53

1290

CVZ-04

289570

0.86

28

32

8.53

9.75

670

CVZ-04

289571

0.94

32

36

9.75

10.97

920

CVZ-04

289572

0.76

36

40

10.97

12.19

860

CVZ-04

289573

0.84

40

44

12.19

13.41

1010

CVZ-04

289574

0.26

44

46

13.41

14.02

1100

CVZ-05

289576

0.3

0

4

0.00

1.22

1530

CVZ-05

289577

0.8

4

8

1.22

2.44

1610

CVZ-05

289578

0.72

8

12

2.44

3.66

1500

CVZ-05

289579

0.7

12

16

3.66

4.88

1630

CVZ-05

289580

0.76

16

20

4.88

6.10

1110

CVZ-05

289581

0.88

20

24

6.10

7.32

1000

CVZ-05

289582

0.74

24

28

7.32

8.53

900

CVZ-05

289583

0.38

28

32

8.53

9.75

930

CVZ-05

289584

0.74

32

36

9.75

10.97

1240

CVZ-05

289585

0.8

36

40

10.97

12.19

880

CVZ-05

289586

0.84

40

44

12.19

13.41

860

CVZ-06

289543

0.72

0

4

0.00

1.22

1400

CVZ-06

289544

0.9

4

8

1.22

2.44

990

CVZ-06

289545

0.72

8

12

2.44

3.66

980

CVZ-06

289546

1.02

12

16

3.66

4.88

1400

CVZ-06

289547

0.76

16

20

4.88

6.10

2320

CVZ-06

289548

0.94

20

24

6.10

7.32

1290

CVZ-06

289549

1.3

24

28

7.32

8.53

940

CVZ-06

289550

1.74

28

32

8.53

9.75

1040

CVZ-06

289601

1.22

32

36.25

9.75

11.05

940

CVZ-07

289631

0.54

0

4

0.00

1.22

1050

CVZ-07

289632

0.76

4

8

1.22

2.44

1130

CVZ-07

289633

0.9

8

12

2.44

3.66

1280

CVZ-07

289634

0.82

12

16

3.66

4.88

970

CVZ-07

289635

0.94

16

20

4.88

6.10

970

CVZ-07

289636

0.92

20

24

6.10

7.32

750

CVZ-07

289637

0.84

24

28

7.32

8.53

1010

CVZ-07

289638

1.12

28

32

8.53

9.75

990

CVZ-07

289639

0.58

32

36

9.75

10.97

900

CVZ-07

289640

0.84

36

40

10.97

12.19

940

CVZ-07

289641

0.42

40

44

12.19

13.41

810

CVZ-07

289642

0.74

44

48

13.41

14.63

690

CVZ-08

289588

0.42

0

4

0.00

1.22

1020

CVZ-08

289589

0.68

4

8

1.22

2.44

1080

CVZ-08

289590

0.56

8

12

2.44

3.66

1010

CVZ-08

289591

0.48

12

16

3.66

4.88

1130

CVZ-08

289592

0.56

16

20

4.88

6.10

1340

CVZ-08

289593

0.94

20

24

6.10

7.32

1150

CVZ-08

289594

0.92

24

28

7.32

8.53

980

CVZ-08

289595

0.88

28

32

8.53

9.75

870

CVZ-08

289596

0.5

32

36

9.75

10.97

600

CVZ-08

289597

0.8

36

40

10.97

12.19

890

CVZ-08

289598

1

40

44

12.19

13.41

1070

CVZ-08

289599

0.8

44

48

13.41

14.63

850

CVZ-09

289603

0.52

0

4

0.00

1.22

1020

CVZ-09

289604

0.74

4

8

1.22

2.44

980

CVZ-09

289605

0.72

8

12

2.44

3.66

1180

CVZ-09

289606

0.8

12

16

3.66

4.88

1260

CVZ-09

289607

0.66

16

20

4.88

6.10

1630

CVZ-09

289608

0.54

20

24

6.10

7.32

930

CVZ-09

289609

0.54

24

28

7.32

8.53

1220

CVZ-09

289610

0.72

28

32

8.53

9.75

1460

CVZ-09

289611

0.7

32

36

9.75

10.97

1800

CVZ-09

289612

0.76

36

40

10.97

12.19

1590

CVZ-09

289613

0.3

40

44

12.19

13.41

1320

CVZ-09

289614

0.36

44

48

13.41

14.63

1210

CVZ-09

289615

0.38

48

50

14.63

15.24

1050

CVZ-12

289617

0.66

0

4

0.00

1.22

1060

CVZ-12

289618

0.52

4

8

1.22

2.44

1110

CVZ-12

289619

0.24

8

12

2.44

3.66

1010

CVZ-12

289620

0.22

12

16

3.66

4.88

920

CVZ-12

289621

0.92

16

20

4.88

6.10

980

CVZ-12

289622

1.28

20

24

6.10

7.32

1780

CVZ-12

289623

0.98

24

28

7.32

8.53

1050

CVZ-12

289624

1.04

28

32

8.53

9.75

860

CVZ-12

289625

1.12

32

36

9.75

10.97

1070

CVZ-12

289626

1.08

36

40

10.97

12.19

1030

Samples intervals were split by geologists at the drilling program staging area.  Half of the core was retained in the core boxes for future review and/or sampling.  The other half was securely sent to ALS Laboratories in Reno, Nevada, USA for testing.  Core recovery for these first 10 core holes averaged 79.5%. 

 

The lithium content of the 116 samples had an interval-weighted average of 1,087.1 ppm with a minimum value of 600 ppm and a maximum value of 2,320 ppm, both over 1.22m (4 ft) intersections. The samples had a median value of 1020 ppm Li.  These results are well above those seen in the 73 surface samples collected from the drilling area and analyzed during exploration work in 2016 and indicate that some leaching of the lithium has occurred at surface. 

 

Laboratory standards with two different lithium ranges (1,237 ppm and 783 ppm) were inserted into the sample stream, along with lithium blanks and duplicate samples (8 QA/QC samples, in all, with this sample batch).  The standards and blanks were obtained from MEG Labs of Reno, Nevada, USA.  Duplicate samples were obtained by splitting the remaining half of the split core (1/4 of the original core).  All analyses of the standards, blanks and duplicates were well within acceptable ranges. 

 

“These initial results are better than expected and it is rare to see drill core sample values that exceed the best of previously reported surface-sampling results (Dec 8 2016). The amazing consistency of the lithium values, both vertically and horizontally, across the initial 10 holes is also very encouraging,” said Mark Ireton President and CEO.

 

Analytical results from the remaining 36 drill holes from the Phase 1 drilling program are pending. 

Noram is amassing one of the largest land packages in Nevada’s Clayton Valley. Its non-contiguous North and South Blocks now total 888 claims covering 17,738 acres and are positioned both north and south of Albemarle’s Silver Peak mine, North America’s only lithium producer.

 

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined under National Instrument 43-101.

 

About Noram Ventures Inc.:

 

Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite deposits and becoming a low-cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral properties. Current projects include lithium properties in the Clayton Valley of Nevada and the Hector Lode in San Bernardino County, California; and the Jumbo graphite property in southeastern British Columbia. Noram’s long term strategy is to build a multi-national lithium-graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia.

 

Please visit our web site for further information: www.noramventures.com.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

/s/ “Mark R. Ireton”

President & Director

 

This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events.  Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company.  The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital.  These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information.  Actual results and future events could differ materially from anticipated in such information.  These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Noram02152017.pdf

Source: Noram Ventures Inc. (TSX Venture:NRM, OTC Pink:NRVTF)

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