Noram Ventures Inc.
Thursday, March 23, 2017 - 11:45 AM EDT

Phase I Drill Results from the Zeus Claim Block Continue to Deliver for Noram and Alba at Their Clayton Valley Lithium Project

Weighted average lithium value in first three batches of drill core samples exceeds the average lithium value of previously reported surface samples by 72%



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 third 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 third group of 10 holes reported herein consisted of 132.4 meters (434 feet) of core drilling with an average hole depth of 13.2 meters (43.4 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 111 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-21

455961.7

4180720.2

1341

15.2

-90

CVZ-22

455926.0

4180650.8

1342

12.2

-90

CVZ-23

455837.3

4180785.9

1338

13.7

-90

CVZ-24

456031.3

4180594.5

1346

15.2

-90

CVZ-25

455780.8

4181171.1

1331

15.2

-90

CVZ-26

455479.0

4180533.1

1328

15.5

-90

CVZ-27

455504.0

4180452.5

1331

6.7

-90

CVZ-28

455814.5

4180544.1

1342

14.9

-90

CVZ-29

455129.8

4180984.9

1316

12.2

-90

CVZ-30

455421.0

4180593.0

1327

15.2

-90

All but two of 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-21

289737

0.58

0

4

0.00

1.22

1630

CVZ-21

289738

0.92

4

8

1.22

2.44

1740

CVZ-21

289739

0.82

8

12

2.44

3.66

1930

CVZ-21

289740

0.70

12

16

3.66

4.88

1520

CVZ-21

289741

0.86

16

20

4.88

6.10

1580

CVZ-21

289742

0.86

20

24

6.10

7.32

1190

CVZ-21

289743

0.98

24

28

7.32

8.53

1120

CVZ-21

289744

0.76

28

32

8.53

9.75

1160

CVZ-21

289745

0.80

32

36

9.75

10.97

880

CVZ-21

289746

1.10

36

40

10.97

12.19

980

CVZ-21

289747

0.84

40

44

12.19

13.41

1170

CVZ-21

289748

0.84

44

48

13.41

14.63

970

CVZ-21

289749

0.30

48

50

14.63

15.24

1000

CVZ-22

289765

0.58

4

8

1.22

2.44

1080

CVZ-22

289766

0.84

8

12

2.44

3.66

1310

CVZ-22

289767

0.68

12

16

3.66

4.88

1380

CVZ-22

289768

0.68

16

20

4.88

6.10

1480

CVZ-22

289769

0.78

20

24

6.10

7.32

1640

CVZ-22

289770

0.60

24

28

7.32

8.53

1680

CVZ-22

289771

0.72

28

32

8.53

9.75

1340

CVZ-22

289772

0.68

32

36

9.75

10.97

1210

CVZ-22

289773

0.68

36

40

10.97

12.19

1070

CVZ-23

289725

0.36

0

4

0.00

1.22

1540

CVZ-23

289726

0.56

4

8

1.22

2.44

810

CVZ-23

289727

0.62

8

12

2.44

3.66

1030

CVZ-23

289728

0.58

12

16

3.66

4.88

940

CVZ-23

289729

0.52

16

20

4.88

6.10

950

CVZ-23

289730

0.54

20

24

6.10

7.32

990

CVZ-23

289731

0.52

24

28

7.32

8.53

1170

CVZ-23

289732

0.78

28

32

8.53

9.75

1300

CVZ-23

289733

0.74

32

36

9.75

10.97

930

CVZ-23

289734

0.62

36

40

10.97

12.19

970

CVZ-23

289735

0.74

40

45

12.19

13.72

850

CVZ-24

289751

0.42

0

4

0.00

1.22

680

CVZ-24

289752

1.00

4

8

1.22

2.44

900

CVZ-24

289753

0.94

8

12

2.44

3.66

1670

CVZ-24

289754

1.04

12

16

3.66

4.88

2340

CVZ-24

289755

0.84

16

20

4.88

6.10

1060

CVZ-24

289756

0.50

20

24

6.10

7.32

890

CVZ-24

289757

1.14

24

28

7.32

8.53

870

CVZ-24

289758

0.86

28

32

8.53

9.75

1010

CVZ-24

289760

0.94

32

36

9.75

10.97

1000

CVZ-24

289761

0.76

36

40

10.97

12.19

1550

CVZ-24

289762

0.74

40

44

12.19

13.41

1190

CVZ-24

289763

0.32

44

48

13.41

14.63

1330

CVZ-24

289764

0.28

48

50

14.63

15.24

1520

CVZ-25

289813

0.20

0

4

0.00

1.22

426

CVZ-25

289814

0.86

4

8

1.22

2.44

810

CVZ-25

289815

0.76

8

12

2.44

3.66

670

CVZ-25

289816

0.82

12

16

3.66

4.88

590

CVZ-25

289817

0.86

16

20

4.88

6.10

670

CVZ-25

289818

0.76

20

24

6.10

7.32

680

CVZ-25

289819

0.82

24

28

7.32

8.53

480

CVZ-25

289820

0.74

28

32

8.53

9.75

500

CVZ-25

289821

0.92

32

36

9.75

10.97

520

CVZ-25

289822

0.60

36

40

10.97

12.19

860

CVZ-25

289824

0.54

40

42

12.19

12.80

448

CVZ-26

289875

0.22

0

4

0.00

1.22

1520

CVZ-26

289876

0.62

4

8

1.22

2.44

1200

CVZ-26

289877

0.54

8

12

2.44

3.66

1260

CVZ-26

289878

0.62

12

16

3.66

4.88

960

CVZ-26

289879

0.50

16

20

4.88

6.10

880

CVZ-26

289880

0.66

20

24

6.10

7.32

920

CVZ-26

289881

0.48

24

28

7.32

8.53

740

CVZ-26

289882

0.74

28

32

8.53

9.75

730

CVZ-26

289883

0.80

32

36

9.75

10.97

980

CVZ-26

289884

0.86

36

40

10.97

12.19

800

CVZ-26

289885

0.80

40

44

12.19

13.41

860

CVZ-26

289886

0.58

44

48

13.41

14.63

960

CVZ-26

289887

0.64

48

51

14.63

15.54

750

CVZ-27

289889

0.28

0

4

0.00

1.22

1150

CVZ-27

289890

0.34

4

8

1.22

2.44

1380

CVZ-27

289891

0.34

8

12

2.44

3.66

1060

CVZ-27

289892

0.82

12

16

3.66

4.88

1350

CVZ-27

289893

0.62

16

20

4.88

6.10

1000

CVZ-27

289894

0.42

20

21.7

6.10

6.61

800

CVZ-28

289825

0.50

0

4

0.00

1.22

1270

CVZ-28

289826

0.62

4

8

1.22

2.44

1160

CVZ-28

289827

1.08

8

12

2.44

3.66

1400

CVZ-28

289828

1.02

12

16

3.66

4.88

1450

CVZ-28

289829

0.88

16

20

4.88

6.10

1680

CVZ-28

289830

0.90

20

24

6.10

7.32

1340

CVZ-28

289831

0.86

24

28

7.32

8.53

1270

CVZ-28

289832

0.86

28

32

8.53

9.75

1130

CVZ-28

289833

0.58

32

36

9.75

10.97

830

CVZ-28

289834

0.90

36

40

10.97

12.19

1050

CVZ-28

289835

0.66

40

44

12.19

13.41

930

CVZ-28

289836

0.86

44

48.8

13.41

14.87

1010

CVZ-29

289909

0.28

0

4

0.00

1.22

770

CVZ-29

289910

1.00

4

8

1.22

2.44

1010

CVZ-29

289911

1.06

8

12

2.44

3.66

1390

CVZ-29

289912

0.94

12

16

3.66

4.88

1670

CVZ-29

289913

0.94

16

20

4.88

6.10

1940

CVZ-29

289914

0.80

20

24

6.10

7.32

1320

CVZ-29

289915

0.88

24

28

7.32

8.53

900

CVZ-29

289916

1.00

28

32

8.53

9.75

880

CVZ-29

289917

0.94

32

36

9.75

10.97

880

CVZ-29

289918

0.70

36

40

10.97

12.19

870

CVZ-30

289799

0.36

0

4

0.00

1.22

1080

CVZ-30

289800

0.78

4

8

1.22

2.44

820

CVZ-30

289801

0.56

8

12

2.44

3.66

810

CVZ-30

289802

0.68

12

16

3.66

4.88

960

CVZ-30

289803

0.52

16

20

4.88

6.10

840

CVZ-30

289804

0.90

20

24

6.10

7.32

770

CVZ-30

289805

0.64

24

28

7.32

8.53

840

CVZ-30

289806

0.48

28

32

8.53

9.75

790

CVZ-30

289807

0.56

32

36

9.75

10.97

670

CVZ-30

289808

0.76

36

40

10.97

12.19

800

CVZ-30

289809

0.64

40

44

12.19

13.41

500

CVZ-30

289810

0.36

44

48

13.41

14.63

480

CVZ-30

289811

0.18

48

50

14.63

15.24

425

 

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 third 10 core holes averaged 80.3%. 

 

The lithium content of the 111 samples had an interval-weighted average of 1,072.6 ppm with a minimum value of 425 ppm and a maximum value of 2,340 ppm. The maximum value was over a 1.22m (4 ft) intersection, while the minimum value was over a 0.61m (2 ft) interval. The samples had a median value of 1000 ppm Li. Collectively, the weighted average lithium value in first three batches of drill core samples exceeds the average value of previously reported surface samples by 72% when comparing the weighted average of the first 30 holes (1,066 ppm Li) to the average of the 77 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 (10 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 consistent, both vertically and horizontally, across all 30 holes we have reported to date,” said Mark Ireton President and CEO of Noram. These continued positive results are supporting our near term goals, which includes on site bulk sampling testing, and in-fill core drilling. Phase 2 drilling program would encompass the Spartan claims, in addition to drilling along the outer boundaries of the contiguous properties, to determine lithium content property wide. 

 

Analytical results from the remaining 16 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.

 

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/NoramMar232017.pdf

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

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