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Noram Ventures Inc. (“Noram”) (TSXV:NRM / Frankfurt:N7R / OTCBB:NRVTF) is pleased to report on the results from the Phase II drill program on the Zeus Property in Clayton Valley, Nevada, and to provide an update on the litigation of claim status.
Noram Ventures Inc. (“Noram”) (TSXV:NRM / Frankfurt:N7R / OTCBB:NRVTF) is pleased to report on the results from the Phase II drill program on the Zeus Property in Clayton Valley, Nevada, and to provide an update on the litigation of claim status.
Phase II Drill Results, Zeus Property, Clayton Valley, Nevada
The recent drill program comprises new core from deepening 9 core drill holes within the area of Noram’s previously announced NI 43-101 compliant inferred resource of 17 million tonnes at a grade of 1060 ppm lithium (which equates to 96,476 metric tonnes of LCE). The complete NI 43-101 Technical Report is available on SEDAR and on the Company’s web site at www.noramventures.com.
The previous drilling on which the inferred resource was based reached an average depth of 14.3 meters. The 9 holes that were deepened have an average depth of 82.2 meters, which is 5.75 times the previous average depth used in the resource estimate.
Data from the recent Noram drilling are summarized in the Table 1. The mineralization remains open in all directions and at depth. The area of the deeper drilling has tested less than 1% of the area covered by Noram’s extensive claim holdings of 12,920 acres (5,229 hectares). Additional drilling and an updated NI 43-101 compliant resource estimate are in the planning stages and will reflect the knowledge gained in the Phase I and II drilling programs.
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.
Initial Studies on Lithium Recovery using Mild Acid Leaching
In 2017, Noram considered high pressure dissolution techniques promoted by MDS Lithium LLC for the recovery of lithium and other products. Because these techniques require a significant Capex and Opex and are yet to be declared commercially viable, Noram is now considering low temperature and low to moderate acid leaching to recover lithium. Initial testing by Actlabs (Activation Laboratories Ltd., Ancaster Ontario) has demonstrated an 80 – 85% lithium recovery using 2 molar H2SO4 leach solution at 80o Celsius. Further acid leach testing and initial studies on membrane filtration and ion filtration are underway to optimize lithium recovery in a cost-effective process.
Clayton Valley Properties Claim Status
Further to the news release dated June 11, 2018, the Company continues to pursue matters relevant to the Notice of Claim (the “Notice”) filed on June 7, 2018. These matters include, but are not limited to the following:
- the trespassing onto the Company’s Clayton Valley Claims (the “GER Claims” or the “Claims”) and the purported location of unpatented lode claims over most, if not all, of the Company’s claims. The claims were not located in good faith or in compliance with applicable laws;
- damages resulting from the trespass and interference with the Company’s business and business opportunities;
- and wrongful and tortious slander of the Company’s title to the Property and irreparable harm should this conduct not be enjoined.
The Company is seeking relief that the Claims are valid subsisting unpatented mining claims and that the Company is entitled to exclusive possession, occupancy and use of the Claims and the public lands appropriated by Noram, as well as to any valuable minerals and mineral deposits contained in, on or under the Claims, subject to the paramount title of the United States. Furthermore, the Company is seeking relief that the Centrestone Claims are declared null and void, that Centrestone has no right, title, claim or interest in the Claims, the public lands appropriated by them or any valuable minerals or mineral deposits contained in, on or under the Claims. Lastly Noram is seeking a monetary judgement against Centrestone, including but not limited to: trespass damages, damages related to the unlawful appropriation, actual damages, punitive damages, special and statutory damages.
Since filing the Notice, the Company has received from Centrestone a response which denies the allegations material to the Notice. Additionally, the Company was provided with a Counterclaim (the “Counterclaim”) which purports that Centrestone has rightful title to the Claims and that Noram trespassed on their claims and improperly located the claims comprising the Clayton Valley property.
Noram intends to do what’s in its power to expedite the process, advance these matters and protect the Company’s interests. Noram will provide additional information to Shareholders as soon as available. 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
“Mark R. Ireton”
President & Director
Direct: (604) 761-9994
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.