Noram Ventures Inc.
Wednesday, March 29, 2017 - 12:15 AM EDT

Noram and Alba Report Final Results from Phase I Drilling at Their Lithium Project in Clayton Valley, Nevada

Phase I results will be included in initial NI 43-101 Resource Estimate in progress



Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) ("Noram") and Alba Minerals Ltd. (“Alba”) (TSX-V: AA.H AXVEF:US) are pleased to announce the last batch of drill core sample results from the 46-hole Phase I drilling program that focused on the Zeus portion of their 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 last group of 16 holes reported herein consisted of 228.1 meters (748 feet) of core drilling with an average hole depth of 14.3 meters (46.8 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 191 samples from the 16 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.  Figure 2 is an overview of all of the Phase 1 drill holes.

 

Table 1 – Drill Hole Location Information

Hole ID

UTM Easting

UTM Northing

Approx. Elev.

Depth

Dip

CVH-01

452876.5

4175657.0

1378

14.3

-90

CVX-01

457245.5

4182107.8

1377

8.2

-90

CVZ-31

455373.0

4180734.2

1324

15.2

-90

CVZ-32

455454.6

4180613.8

1326

15.2

-90

CVZ-33

456205.5

4180418.8

1354

28.0

-90

CVZ-34

455103.5

4181446.1

1306

14.0

-90

CVZ-35

454998.5

4181166.9

1310

15.2

-90

CVZ-36

455782.3

4181387.1

1324

13.4

-90

CVZ-37

456086.2

4181416.3

1334

15.2

-90

CVZ-38

455673.6

4181224.7

1322

13.4

-90

CVZ-39

455802.1

4181266.9

1331

15.2

-90

CVZ-40

455878.0

4181578.2

1325

14.6

-90

CVZ-41

455821.1

4181672.6

1322

12.2

-90

CVZ-42

455858.8

4181319.8

1329

15.2

-90

CVZ-43

455706.6

4181821.3

1315

9.4

-90

CVZ-44

455718.3

4181366.6

1329

13.7

-90

Only three of these latest drill holes are located in the redefined area of close-spaced drilling measuring approximately 970 meters (3,180 feet) by 830 meters (2,720 feet)(shown as rectangle in Figure 3). Lithium values continue to be very consistent across the close-spaced drilling area, but values were shown to decrease to the north of the close-spaced drilling area.  Since the northern area was only tested with shallow drilling, it may still hold promise with further testing.  The areas to the east, west and south of the close-spaced drilling remain open and untested, as well as other large areas on the remainder of the claim holdings covering 17,738 acres (7,178 hectares). 

 

Two holes were drilled in outlying areas as preliminary tests and showed very encouraging results. These were holes CVX-01 near the Zeus Extension claims, approximately 1.5 kilometers (0.93 miles) northeast of the main grouping of Zeus holes; and CVH-01 on the Hades claim, approximately 5 kilomenters (3.1 miles) southwest of the main grouping, near the previously reported borehole.  CVX-01, had a weighted average of 807 ppm Li for the entire hole.  Outwash gravel in the top 4.6 meters (15 feet) of CVH-01 prevented any core recovery, but the lower 9.8 (32 feet) of the hole had a weighted average of 1,023 ppm Li, somewhat higher than the 933 ppm average of 3 samples from the borehole’s spoil pile. 

 

A National Instument 43-101 resource estimate based on the analytical results from the Phase 1 drilling program is being prepared and will be announced upon completion.

 

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)

CVH-01

293379

0.64

15

20

4.57

6.10

920

CVH-01

293380

0.36

20

24

6.10

7.32

1090

CVH-01

293381

0.5

24

28

7.32

8.53

990

CVH-01

293382

0.28

28

32

8.53

9.75

1140

CVH-01

293383

0.42

32

36

9.75

10.97

1290

CVH-01

293384

0.68

36

40

10.97

12.19

970

CVH-01

293385

0.24

40

44

12.19

13.41

980

CVH-01

293386

0.32

44

47

13.41

14.33

770

CVX-01

320253

0.06

0

4

0.00

1.22

450

CVX-01

320254

0.36

4

8

1.22

2.44

930

CVX-01

320255

0.66

8

12

2.44

3.66

820

CVX-01

320256

0.68

12

16

3.66

4.88

780

CVX-01

320257

0.72

16

20

4.88

6.10

800

CVX-01

320258

1.08

20

24

6.10

7.32

1220

CVX-01

320259

0.62

24

27

7.32

8.23

600

CVZ-31

293368

0.32

0

4

0.00

1.22

860

CVZ-31

293369

0.66

4

8

1.22

2.44

820

CVZ-31

293370

1

8

12

2.44

3.66

810

CVZ-31

293371

0.68

12

16

3.66

4.88

1160

CVZ-31

293372

0.34

16

20

4.88

6.10

970

CVZ-31

293373

0.72

20

24

6.10

7.32

790

CVZ-31

293374

0.4

24

28

7.32

8.53

1040

CVZ-31

293375

0.58

28

32

8.53

9.75

1180

CVZ-31

293376

0.72

32

36

9.75

10.97

830

CVZ-31

293377

0.44

36

38

10.97

11.58

960

CVZ-32

289896

0.1

0

8

0.00

2.44

730

CVZ-32

289897

0.7

8

12

2.44

3.66

750

CVZ-32

289898

0.66

12

16

3.66

4.88

1010

CVZ-32

289899

0.72

16

20

4.88

6.10

730

CVZ-32

289900

0.88

20

24

6.10

7.32

730

CVZ-32

289901

0.86

24

28

7.32

8.53

940

CVZ-32

289902

0.82

28

32

8.53

9.75

750

CVZ-32

289903

0.8

32

36

9.75

10.97

660

CVZ-32

289904

0.66

36

40

10.97

12.19

1050

CVZ-32

289906

0.28

40

44

12.19

13.41

650

CVZ-32

289907

0.62

44

48

13.41

14.63

510

CVZ-32

289908

0.18

48

50

14.63

15.24

293

CVZ-33

289851

0.54

0

4

0.00

1.22

1120

CVZ-33

289852

0.56

4

8

1.22

2.44

910

CVZ-33

289853

0.76

8

12

2.44

3.66

690

CVZ-33

289854

0.88

12

16

3.66

4.88

1020

CVZ-33

289855

0.78

16

20

4.88

6.10

580

CVZ-33

289856

0.66

20

24

6.10

7.32

750

CVZ-33

289857

0.66

24

28

7.32

8.53

760

CVZ-33

289858

0.72

28

32

8.53

9.75

640

CVZ-33

289859

0.9

32

36

9.75

10.97

710

CVZ-33

289860

0.42

36

40

10.97

12.19

1000

CVZ-33

289862

0.64

40

44

12.19

13.41

880

CVZ-33

289863

0.86

44

48

13.41

14.63

610

CVZ-33

289864

0.96

48

52

14.63

15.85

550

CVZ-33

289865

0.88

52

56

15.85

17.07

630

CVZ-33

289866

0.8

56

60

17.07

18.29

1080

CVZ-33

289867

0.78

60

64

18.29

19.51

1060

CVZ-33

289868

0.62

64

68

19.51

20.73

910

CVZ-33

289869

0.92

68

72

20.73

21.95

900

CVZ-33

289870

0.9

72

76

21.95

23.16

1090

CVZ-33

289871

0.94

76

80

23.16

24.38

920

CVZ-33

289872

0.98

80

84

24.38

25.60

850

CVZ-33

289873

0.8

84

88

25.60

26.82

1130

CVZ-33

289874

0.66

88

92

26.82

28.04

2380

CVZ-34

289838

0.38

0

4

0.00

1.22

670

CVZ-34

289839

0.2

4

8

1.22

2.44

770

CVZ-34

289840

0.68

8

12

2.44

3.66

750

CVZ-34

289841

0.86

12

16

3.66

4.88

620

CVZ-34

289842

0.9

16

20

4.88

6.10

950

CVZ-34

289843

0.62

20

24

6.10

7.32

730

CVZ-34

289844

0.64

24

28

7.32

8.53

690

CVZ-34

289845

0.58

28

32

8.53

9.75

640

CVZ-34

289846

0.64

32

36

9.75

10.97

417

CVZ-34

289847

0.4

36

40

10.97

12.19

385

CVZ-34

289848

0.58

40

44

12.19

13.41

355

CVZ-34

289849

0.38

44

46

13.41

14.02

316

CVZ-35

289945

0.22

0

4

0.00

1.22

580

CVZ-35

289946

0.76

4

8

1.22

2.44

690

CVZ-35

289947

0.6

8

12

2.44

3.66

510

CVZ-35

289948

0.8

12

16

3.66

4.88

530

CVZ-35

289949

0.7

16

20

4.88

6.10

760

CVZ-35

289950

0.66

20

24

6.10

7.32

750

CVZ-35

289951

0.74

24

28

7.32

8.53

550

CVZ-35

289952

0.94

28

32

8.53

9.75

690

CVZ-35

289953

0.48

32

36

9.75

10.97

740

CVZ-35

289955

0.82

36

40

10.97

12.19

950

CVZ-35

289956

0.56

40

44

12.19

13.41

770

CVZ-35

289957

0.8

44

50

13.41

15.24

810

CVZ-35

289958

0.3

46.5

47.8

14.17

14.57

1030

CVZ-36

320275

0.2

0

4

0.00

1.22

185.5

CVZ-36

320276

0.52

4

8

1.22

2.44

382

CVZ-36

320277

0.86

8

12

2.44

3.66

440

CVZ-36

320278

0.64

12

16

3.66

4.88

361

CVZ-36

320279

0.54

16

20

4.88

6.10

400

CVZ-36

320280

0.66

20

24

6.10

7.32

440

CVZ-36

320281

0.76

24

28

7.32

8.53

378

CVZ-36

320282

0.64

28

32

8.53

9.75

460

CVZ-36

320283

0.52

32

36

9.75

10.97

273

CVZ-36

320284

0.76

36

40

10.97

12.19

331

CVZ-36

320285

0.9

40

44

12.19

13.41

600

CVZ-37

289959

0.44

0

4

0.00

1.22

510

CVZ-37

289960

0.68

4

8

1.22

2.44

600

CVZ-37

289961

0.72

8

12

2.44

3.66

570

CVZ-37

289962

0.74

12

16

3.66

4.88

438

CVZ-37

289963

0.58

16

20

4.88

6.10

860

CVZ-37

289964

0.72

20

24

6.10

7.32

530

CVZ-37

289965

0.68

24

28

7.32

8.53

490

CVZ-37

289966

0.7

28

32

8.53

9.75

630

CVZ-37

289967

0.44

32

36

9.75

10.97

550

CVZ-37

289968

0.3

36

40

10.97

12.19

396

CVZ-37

289969

0.84

40

44

12.19

13.41

860

CVZ-37

289970

0.86

44

48

13.41

14.63

820

CVZ-37

289971

0.46

48

50

14.63

15.24

720

CVZ-38

289920

0.16

0

4

0.00

1.22

421

CVZ-38

289921

0.56

4

8

1.22

2.44

404

CVZ-38

289922

0.38

8

12

2.44

3.66

470

CVZ-38

289923

0.86

12

16

3.66

4.88

412

CVZ-38

289924

0.68

16

20

4.88

6.10

421

CVZ-38

289925

0.66

20

24

6.10

7.32

421

CVZ-38

289926

0.5

24

28

7.32

8.53

385

CVZ-38

289927

0.52

28

32

8.53

9.75

460

CVZ-38

289928

0.5

32

36

9.75

10.97

368

CVZ-38

289929

0.84

36

40

10.97

12.19

352

CVZ-38

289930

0.68

40

44

12.19

13.41

368

CVZ-39

320287

0.22

0

4

0.00

1.22

560

CVZ-39

320288

0.66

4

8

1.22

2.44

600

CVZ-39

320289

0.32

8

12

2.44

3.66

460

CVZ-39

320290

0.72

12

16

3.66

4.88

431

CVZ-39

320291

0.88

16

20

4.88

6.10

830

CVZ-39

320292

0.78

20

24

6.10

7.32

850

CVZ-39

320293

0.72

24

28

7.32

8.53

570

CVZ-39

320294

0.76

28

32

8.53

9.75

860

CVZ-39

320295

0.92

32

36

9.75

10.97

830

CVZ-39

320296

0.78

36

40

10.97

12.19

630

CVZ-39

320297

0.78

40

44

12.19

13.41

470

CVZ-39

320298

0.78

44

48

13.41

14.63

421

CVZ-39

320299

0.44

48

50

14.63

15.24

520

CVZ-40

289932

0.24

0

4

0.00

1.22

186.5

CVZ-40

289933

0.44

4

8

1.22

2.44

335

CVZ-40

289934

0.46

8

12

2.44

3.66

296

CVZ-40

289935

0.7

12

16

3.66

4.88

325

CVZ-40

289936

0.62

16

20

4.88

6.10

326

CVZ-40

289937

0.42

20

24

6.10

7.32

404

CVZ-40

289938

0.52

24

28

7.32

8.53

560

CVZ-40

289939

0.32

28

32

8.53

9.75

350

CVZ-40

289940

0.54

32

36

9.75

10.97

334

CVZ-40

289941

0.7

36

40

10.97

12.19

404

CVZ-40

289942

0.48

40

44

12.19

13.41

368

CVZ-40

289943

0.46

44

48

13.41

14.63

308

CVZ-41

289982

0.22

0

4

0.00

1.22

199.5

CVZ-41

289983

0.26

4

8

1.22

2.44

259

CVZ-41

289984

0.42

8

12

2.44

3.66

344

CVZ-41

289985

0.12

12

16

3.66

4.88

201

CVZ-41

289986

0.68

16

20

4.88

6.10

295

CVZ-41

289987

0.72

20

24

6.10

7.32

335

CVZ-41

289988

0.74

24

28

7.32

8.53

381

CVZ-41

289989

0.7

28

32

8.53

9.75

397

CVZ-41

289990

0.82

32

36

9.75

10.97

350

CVZ-41

289991

0.82

36

40

10.97

12.19

338

CVZ-41

289992

0.68

40

44

12.19

13.41

333

CVZ-41

289993

0.54

44

48

13.41

14.63

330

CVZ-41

289994

0.6

48

50

14.63

15.24

407

CVZ-42

320261

0.16

0

4

0.00

1.22

460

CVZ-42

320262

0.56

4

8

1.22

2.44

309

CVZ-42

320263

0.38

8

12

2.44

3.66

315

CVZ-42

320264

0.68

12

16

3.66

4.88

710

CVZ-42

320265

0.66

16

20

4.88

6.10

490

CVZ-42

320266

0.84

20

24

6.10

7.32

740

CVZ-42

320267

0.76

24

28

7.32

8.53

610

CVZ-42

320268

0.76

28

32

8.53

9.75

410

CVZ-42

320269

0.74

32

36

9.75

10.97

630

CVZ-42

320270

0.5

36

40

10.97

12.19

530

CVZ-42

320271

0.86

40

44

12.19

13.41

470

CVZ-42

320272

0.8

44

48

13.41

14.63

450

CVZ-42

320273

0.3

48

50

14.63

15.24

510

CVZ-43

289973

0.2

0

4

0.00

1.22

195

CVZ-43

289974

0.38

4

8

1.22

2.44

185

CVZ-43

289975

0.32

8

12

2.44

3.66

217

CVZ-43

289976

0.38

12

16

3.66

4.88

189.5

CVZ-43

289977

0.44

16

20

4.88

6.10

211

CVZ-43

289978

0.28

20

24

6.10

7.32

162.5

CVZ-43

289979

0.2

24

28

7.32

8.53

250

CVZ-43

289980

0.46

28

31

8.53

9.45

245

CVZ-44

289996

0.48

0

4

0.00

1.22

480

CVZ-44

289997

0.56

4

8

1.22

2.44

540

CVZ-44

289998

0.84

8

13.3

2.44

4.05

590

CVZ-44

289999

0.32

13.3

15.7

4.05

4.79

176

CVZ-44

290000

0.46

15.7

18

4.79

5.49

373

CVZ-44

293360

0.72

18

22

5.49

6.71

500

CVZ-44

293361

0.6

22

26

6.71

7.92

460

CVZ-44

293362

0.7

26

30

7.92

9.14

480

CVZ-44

293363

0.7

30

34

9.14

10.36

480

CVZ-44

293364

0.6

34

38

10.36

11.58

460

CVZ-44

293365

0.58

38

42

11.58

12.80

431

CVZ-44

293366

0.38

42

45

12.80

13.72

434

Sample 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 last 16 core holes averaged 74.1%. 

 

The lithium content of the 191 samples from the last 16 holes had an interval-weighted average of 613.9 ppm with a minimum value of 163 ppm and a maximum value of 2,380 ppm. The minimum and maximum values were collected over 1.22m (4 ft) intersections. The samples had a median value of 560 ppm Li. Collectively, the weighted average lithium value in this last batch of drill core samples approximated the average value of previously reported surface samples (621 ppm Li).

 

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 (13 QA/QC samples, in all, with these samples).  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. 

 

“We are extremely pleased with the results from our Phase 1 drilling program and expect to have our initial lithium resource estimate completed shorty,” said Mark Ireton President and CEO of Noram. “The Phase 1 results will also be instrumental in planning our Phase 2 drilling program that will encompass the Spartan and Hades claims and enable us to determine the lithium potential of our entire South Block property.”

 

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

Noram Ventures Inc.

 

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/Noram03292017.pdf

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

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