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Noram Ventures Inc. (TSXV:NRM / Frankfurt:N7R / OTCBB:NRVTF) (“Noram” or the “Company”) is pleased to provide an update on its exploration plans for the 2700 hectare lithium exploration project in the Salar de Arizaro, Salta, Argentina and for a Phase III drill program in Clayton Valley, Nevada.
Noram Ventures Inc. (TSXV:NRM / Frankfurt:N7R / OTCBB:NRVTF) (“Noram” or the “Company”) is pleased to provide an update on its exploration plans for the 2700 hectare lithium exploration project in the Salar de Arizaro, Salta, Argentina and for a Phase III drill program in Clayton Valley, Nevada.
Clayton Valley, Nevada
On November 21, 2017, the Company announced the completion of a NI 43-101 Technical Report on the Clayton Valley Project (the “Project” or the “Property”) which reported an Inferred Mineral Resource (the “Inferred Resource”) of 17.1 million metric tonnes of lithium at a grade of 1,060 ppm Li equating to 96,476 Lithium Carbonate Equivalent (“LCE”). During the recently completed Phase II Drill program, the Company successfully deepened 9 of the core drill holes with an average depth of 82.2 meters, which is 5.75 times the previous average depths used in the resource estimate. Initial leaching tests indicate that the lithium clay is amenable to leaching with low to moderate concentrations of sulfuric acid at low temperatures. Data from the drilling are summarized in the Company’s release dated August 13, 2018 and are available through SEDAR. The next phase of drilling is designed to expand the existing resource with 11 holes to ~100 m depth that extend the mineralization to the south and east of the current resource area. Following this new drilling, a new resource estimate will be determined, with a goal of completing the resource estimate report by the end of Q4 2018. 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.
Arizaro Salar, Salta, Argentina
On July 27, 2017, the Company purchased a 100% interest in the Arizaro East Property, which hosts disseminated lithium, located in the Arizaro Salar, Los Andes Department in the Province of Salta, Argentina. An initial surface sampling campaign completed in January 2018, showed anomalies occurring within the property, however the results were not comparable to the Company’s interest in Nevada. To better understand the extent of the presence of lithium the Company is encouraged to determine the potential for hosting lithium baring subsurface layers by carrying out a geoelectrical survey within the area. Furthermore, by extending the survey to the wider area of the Arizaro Salar, it is possible to establish whether the sub-basin – a significant part of which the property is covering – is hydrologically connected or isolated with respect to the main basin.
This survey could also provide relevant data on the depth, thickness and resistivities of subsurface strata, which, inferably, could be associated with brine saturation of the sediments. Other companies planning, developing and implementing similar exploration activities in the immediate vicinity of the Arizaro East Property include NNEL Holding Corp (former Lithium X), LSC JV with Pluspetrol (Litica Resources), Argentina Lithium and Eramite.
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 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 projects. Noram’s long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia. For further information, please visit www.noramventures.com. ON BEHALF OF THE BOARD OF DIRECTORS s/ “Mark Ireton” President & Director Direct: (604) 761-9994 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.
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