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Noram Ventures Inc. (TSXV:NRM) (OTCBB:NRVTF:US) is pleased to provide first assay results from the Phase III drill program on Noram’s flagship Zeus property in the Clayton Valley, Nevada, USA.
Noram Ventures Inc. (TSXV:NRM) (OTCBB:NRVTF:US) is pleased to provide first assay results from the Phase III drill program on Noram’s flagship Zeus property in the Clayton Valley, Nevada, USA.
Assays from Noram’s first drill hole, (completed on November 19, 2018), of its Phase III drilling campaign have been released by ALS Laboratories, Reno, Nevada, USA. As described in the release dated December 5, 2018, the geologic log showed that the top 85 feet (26 meters) of the hole contained olive green claystone and mudstone very similar to that seen in holes within the resource area. The bottom 15 feet (4.6 meters) contained gray, green and brown limestone, sand and conglomerate along with some mudstone. CVZ-45 may well be deepened at a later time to determine the significance of the sandy, conglomeratic layers in the lower part of this hole.
Samples were taken at 5ft intervals, the results of which are provided in Table 1 below. Assays from hole CVZ-45 yielded an overall average lithium grade of 1104 ppm for the entire 100 foot (30.5 meter) length of the hole. The hole was located approximately 1150 feet (350 meters) northwest of the edge of the previously announced 43-101 compliant inferred resource of 17 million tonnes at a grade of 1060 ppm Li. The results indicate that the same mineralization seen in the resource estimate continues to the north and west with little, if any, change.
Table 1 – Results of drill hole CVZ-45. Samples taken at 5ft intervals over a depth of 100ft.
“Noram is pleased with the results of CVZ-45. Portions of the core assayed as high as 1900ppm. This program was designed with further defining the size and significance of the resource in mind; Noram is confident that it will successfully do so. We look forward to the receipt of the balance of the drill results,” stated Mr. Mark Ireton, President and CEO.
Additional assay results from the second Phase III hole, CVZ-46, which occurs 2550 feet (780 meters) northwest of the resource area were also received. CVZ-46 contained all green and blue claystones and mudstones with an average of 681.1ppm. CVZ-46 had a total of 39 feet (11.9 meters) of the chemically reduced blue claystones and mudstones.
“We are just beginning to understand the magnitude of this resource,” stated Mr. Ireton. “The fact that we have stepped out almost 1km from the original resource area on CVZ-46 and still see these types of concentrations of lithium provides great insight into the potential for this Property and the resource that it hosts. Phase III has drilled an additional 35% of the property as compared to Phase I and II where a mere 15% was explored.”Table 2 – Results of drill hole CVZ-45. Samples taken at 5ft intervals over a depth of 100ft.
To date in Phase III, a total of 15 holes have been completed to a depth of approximately 100ft. The overwhelming majority of the holes have intersected the green claystones and mudstones seen in the Phase I and Phase II drilling campaigns and which resulted in the initial inferred resource. Once the program has been completed and the assay results are returned, an update NI43-101 report with a new inferred resource calculation will be completed.
Phase III Drill Program. 7 holes completed to date (red) and the remaining 10 holes to be drilled (green). The current inferred resource area referred to in the NI 43-101 Technical Report (orange).
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 developing lithium deposits and becoming a low – cost supplier for the lithium industry. 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.
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