Noram Ventures Inc.
Tuesday, February 28, 2017 - 7:00 AM EST

Phase I Drill Results Continue to Deliver for Noram and Alba at Their Clayton Valley Lithium Project

Median lithium value in first two batches of drill core samples exceeds average lithium value of previously reported surface samples by 64% and 57%, respectively to a new average of 1,040ppm from 600ppm taken from original grab samples



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 second batch of drill core sample results from the 46-hole Phase I 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 second group of 10 holes reported herein consisted of 151.4 meters (497 feet) of core drilling with an average hole depth of 15.1 meters (49.5 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 126 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-10

455973.0

4180837.4

1339

10.7

-90

CVZ-11

456051.0

4180737.3

1344

12.2

-90

CVZ-13

456091.0

4180658.0

1347

12.8

-90

CVZ-14

456131.2

4180845.8

1343

13.4

-90

CVZ-15

456187.3

4180710.1

1349

12.2

-90

CVZ-16

456196.1

4180790.9

1346

16.8

-90

CVZ-17

455850.3

4180951.7

1335

15.8

-90

CVZ-18

455835.2

4180723.9

1339

15.8

-90

CVZ-19

455971.7

4180918.5

1339

14.6

-90

CVZ-20

455837.8

4180851.7

1334

27.1

-90

These drill holes are all located in an area of close-spaced drilling measuring approximately 800 meters (2,600 feet) by 520 meters (1,700 feet)(see Figure 2). Lithium values continue to be very consistent across the close-spaced drilling area.

 

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-10

289639

0.68

0

4

0.00

1.22

1160

CVZ-10

289640

0.64

4

8

1.22

2.44

1320

CVZ-10

289641

0.79

8

12

2.44

3.66

950

CVZ-10

289642

0.79

12

16

3.66

4.88

940

CVZ-10

289643

0.62

16

20

4.88

6.10

1280

CVZ-10

289644

0.65

20

24

6.10

7.32

840

CVZ-10

289645

0.63

24

28

7.32

8.53

1020

CVZ-10

289646

0.64

28

32

8.53

9.75

1150

CVZ-10

289647

0.47

32

35

9.75

10.67

1320

CVZ-11

289672

0.46

0

4

0.00

1.22

830

CVZ-11

289673

0.67

4

8

1.22

2.44

920

CVZ-11

289674

0.89

8

12

2.44

3.66

1110

CVZ-11

289675

0.82

12

16

3.66

4.88

1210

CVZ-11

289676

0.95

16

20

4.88

6.10

1790

CVZ-11

289677

0.78

20

24

6.10

7.32

1240

CVZ-11

289678

0.39

24

28

7.32

8.53

1500

CVZ-11

289679

1.08

28

32

8.53

9.75

1580

CVZ-11

289680

0.82

32

36

9.75

10.97

1370

CVZ-11

289681

0.53

36

40

10.97

12.19

1660

CVZ-13

289660

0.21

0

4

0.00

1.22

1190

CVZ-13

289661

0.54

4

8

1.22

2.44

1080

CVZ-13

289662

0.5

8

12

2.44

3.66

1100

CVZ-13

289663

0.52

12

16

3.66

4.88

1760

CVZ-13

289664

0.89

16

20

4.88

6.10

1150

CVZ-13

289665

0.55

20

24

6.10

7.32

840

CVZ-13

289666

0.94

24

28

7.32

8.53

950

CVZ-13

289667

1.09

28

32

8.53

9.75

920

CVZ-13

289668

0.89

32

36

9.75

10.97

1140

CVZ-13

289669

0.75

36

40

10.97

12.19

1120

CVZ-13

289670

0.53

40

42

12.19

12.80

1230

CVZ-14

289628

0.65

0

4

0.00

1.22

1950

CVZ-14

289629

0.69

4

8

1.22

2.44

1100

CVZ-14

289630

0.87

8

12

2.44

3.66

970

CVZ-14

289631

1.06

12

16

3.66

4.88

1060

CVZ-14

289632

0.98

16

20

4.88

6.10

1210

CVZ-14

289633

0.82

20

24

6.10

7.32

1400

CVZ-14

289634

1.2

24

28

7.32

8.53

1340

CVZ-14

289635

0.96

28

32

8.53

9.75

1760

CVZ-14

289636

1.03

32

36

9.75

10.97

1930

CVZ-14

289637

1.07

36

40

10.97

12.19

1700

CVZ-14

289638

0.93

40

44

12.19

13.41

1690

CVZ-15

289649

0.6

0

4

0.00

1.22

1040

CVZ-15

289650

0.96

4

8

1.22

2.44

780

CVZ-15

289651

1.03

8

12

2.44

3.66

540

CVZ-15

289652

0.87

12

16

3.66

4.88

780

CVZ-15

289653

1.01

16

20

4.88

6.10

1120

CVZ-15

289654

0.94

20

24

6.10

7.32

890

CVZ-15

289655

0.72

24

28

7.32

8.53

870

CVZ-15

289656

0.95

28

32

8.53

9.75

1130

CVZ-15

289657

1

32

36

9.75

10.97

1050

CVZ-15

289658

1.01

36

40

10.97

12.19

920

CVZ-16

289711

0.56

4

8

1.22

2.44

900

CVZ-16

289712

0.58

8

12

2.44

3.66

930

CVZ-16

289713

0.76

12

16

3.66

4.88

1200

CVZ-16

289714

0.74

16

20

4.88

6.10

950

CVZ-16

289715

0.66

20

24

6.10

7.32

1220

CVZ-16

289716

0.68

24

28

7.32

8.53

1720

CVZ-16

289717

0.68

28

32

8.53

9.75

950

CVZ-16

289718

0.68

32

36

9.75

10.97

1110

CVZ-16

289719

0.66

36

40

10.97

12.19

920

CVZ-16

289720

0.7

40

44

12.19

13.41

870

CVZ-16

289721

0.62

44

48

13.41

14.63

920

CVZ-16

289722

0.96

48

52

14.63

15.85

1010

CVZ-16

289723

0.62

52

55

15.85

16.76

1230

CVZ-17

289683

0.42

0

4

0.00

1.22

1090

CVZ-17

289684

0.76

4

8

1.22

2.44

900

CVZ-17

289685

0.56

8

12

2.44

3.66

880

CVZ-17

289686

0.5

12

16

3.66

4.88

640

CVZ-17

289687

0.49

16

20

4.88

6.10

880

CVZ-17

289688

0.75

20

24

6.10

7.32

960

CVZ-17

289689

0.77

24

28

7.32

8.53

920

CVZ-17

289690

0.67

28

32

8.53

9.75

650

CVZ-17

289691

0.89

32

36

9.75

10.97

730

CVZ-17

289692

0.67

36

40

10.97

12.19

600

CVZ-17

289693

0.77

40

44

12.19

13.41

630

CVZ-17

289694

0.76

44

48

13.41

14.63

630

CVZ-17

289695

0.9

48

52

14.63

15.85

750

CVZ-18

289697

0.57

0

4

0.00

1.22

1130

CVZ-18

289698

0.96

4

8

1.22

2.44

930

CVZ-18

289699

0.96

8

12

2.44

3.66

1000

CVZ-18

289700

0.94

12

16

3.66

4.88

1300

CVZ-18

289701

0.76

16

20

4.88

6.10

750

CVZ-18

289702

0.84

20

24

6.10

7.32

960

CVZ-18

289703

0.68

24

28

7.32

8.53

1290

CVZ-18

289704

0.78

28

32

8.53

9.75

1220

CVZ-18

289705

0.6

32

36

9.75

10.97

1350

CVZ-18

289706

0.66

36

40

10.97

12.19

1600

CVZ-18

289707

0.6

40

44

12.19

13.41

1050

CVZ-18

289708

0.66

44

48

13.41

14.63

960

CVZ-18

289709

0.68

48

51

14.63

15.54

1060

CVZ-19

293388

0.6

0

4

0.00

1.22

890

CVZ-19

293389

0.7

4

8

1.22

2.44

1080

CVZ-19

293390

0.7

8

12

2.44

3.66

840

CVZ-19

293391

0.66

12

16

3.66

4.88

850

CVZ-19

293392

0.68

16

20

4.88

6.10

860

CVZ-19

293393

0.82

20

24

6.10

7.32

850

CVZ-19

293394

0.96

24

28

7.32

8.53

1350

CVZ-19

293395

0.84

28

32

8.53

9.75

1070

CVZ-19

293396

1.04

32

36

9.75

10.97

1510

CVZ-19

293397

0.98

36

40

10.97

12.19

990

CVZ-19

293398

0.98

40

44

12.19

13.41

920

CVZ-19

293399

0.86

44

48

13.41

14.63

730

CVZ-19

293400

0.88

48

52

14.63

15.85

790

CVZ-20

289775

0.14

0

4

0.00

1.22

1010

CVZ-20

289776

0.1

4

8

1.22

2.44

425

CVZ-20

289777

0.36

8

12

2.44

3.66

1230

CVZ-20

289778

0.88

12

16

3.66

4.88

1020

CVZ-20

289779

0.52

16

20

4.88

6.10

1030

CVZ-20

289780

0.62

20

24

6.10

7.32

860

CVZ-20

289781

0.7

24

28

7.32

8.53

820

CVZ-20

289782

0.82

28

32

8.53

9.75

980

CVZ-20

289783

0.8

32

36

9.75

10.97

1100

CVZ-20

289784

0.64

36

40

10.97

12.19

840

CVZ-20

289785

0.82

40

44

12.19

13.41

780

CVZ-20

289786

0.76

44

48

13.41

14.63

810

CVZ-20

289787

0.7

48

52

14.63

15.85

640

CVZ-20

289788

0.78

52

56

15.85

17.07

700

CVZ-20

289789

0.64

56

60

17.07

18.29

850

CVZ-20

289790

0.74

60

64

18.29

19.51

660

CVZ-20

289791

0.78

64

68

19.51

20.73

900

CVZ-20

289792

0.64

68

72

20.73

21.95

950

CVZ-20

289793

0.82

72

76

21.95

23.16

740

CVZ-20

289794

0.94

76

80

23.16

24.38

650

CVZ-20

289795

0.94

80

84

24.38

25.60

910

CVZ-20

289796

0.82

84

88

25.60

26.82

490

CVZ-20

289797

0.26

88

92

26.82

28.04

510

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 second 10 core holes averaged 84.4%. 

 

The lithium content of the 126 samples had an interval-weighted average of 1,040.5 ppm with a minimum value of 425 ppm and a maximum value of 1,950 ppm, both over 1.22m (4 ft) intersections. The samples had a median value of 975 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 (9 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. 

 

The lithium values continue to be amazingly consistent, both vertically and horizontally, across all 20 holes we have reported to date,” said Mark Ireton President and CEO of Noram. “The median lithium value in the first and second batch of drill core samples also exceeds the average lithium value of the previously reported surface samples (Dec 8 2016) by 64% and 57%, respectively.”

 

Sandy MacDougall said: “We are very please with the continued positive results and look forward to continuing with the next phase of exploration”

 

Analytical results from the remaining 26 drill holes of 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.

 

About Alba Minerals Ltd

 

Alba Minerals Ltd. Is a Vancouver based junior resource company with projects in North and South America, focusing on the development of our Lithium properties. Our Lithium Projects are located in Clayton Valley Nevada where 55 hole drilling program has commenced. Our second Lithium Project is in Salta Province , Argentina, adjacent to World -class lithium projects held by Lithium Americas and Orocobre in one of the world’s leading lithium producing regions.

 

Please visit our web site for further information: https://www.albamineralsltd.com

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

/s/ “Mark R. Ireton”

/s/ “Sandy MacDougall”

 

 

President & Director

Chairman

Noram Venture Inc.

Alba Minerals Ltd.

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/Noram02282017.pdf

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

To follow Noram Ventures Inc. on your favorite social media platform or financial websites, please click on the icons below.


 

Maximum News Dissemination by FSCwire. http://www.fscwire.com

 

Copyright © 2017 Filing Services Canada Inc.





Visit Company Profile Noram Ventures Inc.
Visit Company Website
Subscribe to This Company Sign Up