The Conversation (0)
Noram Ventures Inc. (TSXV:NRM) has signed a Letter of Intent to enter into an option agreement with provisions to acquire a 100% interest in the Amazing Grace property in southeast British Columbia. The Property is a total of 4,918 hectares, consisting of 17 claims, located approximately 12km southeast of the city of Castlegar in the Nelson and Trail Mining Divisions. The primary target is gold in quartz veins, but the potential for other commodities and mineralization types includes: base metals in a volcanogenic massive sulphide setting, copper-tungsten, and palladium in mafic intrusions.
As quoted in the press release:
Exploration activity on the Property dates back to 1896. In 1900, roughly 157m of underground workings were driven and a stamp mill installed at the Maude S showing. The latest work on the Property, conducted by Swift Resources in 2011, identified 17 widely-spaced mineral occurrences within a 5km square area, many with significant gold content (see Figure 2: https://www.noramventures.com/Maps/Amazing-Grace_Figure2.jpg). Several rock grab samples from these showings contained tens of grams of gold per tonne (g/t), and one sample from the BW occurrence contained over 1000 g/t gold (29 ounces per ton).
Noram Ventures President Dave Rees said:
The agreement on the Amazing Grace property is in keeping with our project generator business model and will in no way detract from the exploration and development effort on our flake graphite projects. The property is located in the same regional area as our other projects and represents an excellent, discovery-stage exploration opportunity.
Click here to read the Noram Ventures Inc. (TSXV:NRM) press release
Click here to see the Noram Ventures Inc. (TSXV:NRM) profile.