Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to report that the Company has completed hole CVZ-72 (PH-06) on its Zeus lithium clay deposit in Nevada to a total depth of 428ft (130.5m). Visual inspection of the core confirmed that clays previously shown to be high in lithium grades appeared near surface and extended down to a depth of 400ft (121.9m) for a total drilled intersection of 323ft (98.4m).
Figure 1 - Two boxes of core from CVZ-72. The box on the left is from depths of 253-261.5ft (77.1-79.7m) and shows some of the black, highly reduced mudstone/claystone. The box on the right is from 288.5-298ft (87.9-90.8m) and is typical of the somewhat less reduced blue mudstone/claystone. From past drilling experience, both lithologic units are usually high in lithium content.
Figure 2 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1 currently underway. Phase VI holes are indicated in purple.
"We are incredibly pleased with the results from CVZ-72 albeit not surprised. Drill hole CVZ-72 was completed at 428ft (130.5m) and had predictably encouraging lithologies. Past programs have shown this to be highly mineralized material. This is exactly what one would like to see with infill drilling. Figure 3 below shows a cross section with CVZ-72 and two adjacent, previously drilled holes. The blue, green, black and magenta layers in the figure indicate claystone layers that have been shown to host the higher lithium assays from past drilling as is shown by the histograms of lithium values on the two adjacent holes. The adjacent CVZ-68 was one of the better high-grade holes with a very thick clay intercept. The drill intercepts thus far continue to be very encouraging" commented Brad Peek M.Sc. CPG., VP of Exploration and Qualified Person for this and all 5 of the previous drilling phases of Noram's Zeus lithium property.
Figure 3. Comparative lithology for drill holes CVZ-72 as compared to CVZ-53 and CVZ-68, which were drilled as part of the Phase IV and V programs. CVZ-53 and CVZ-68 had long intercepts of high grade lithium. All of the lithology units except the brown mudstones have relatively high lithium concentrations in previous drill holes on the property. The histogram on the sides of CVZ-53 and CVZ-68 are the 5m composited lithium grades in ppm Li. The section has a 4X vertical exaggeration.
CVZ-72 is the second of the 12-hole Phase VI drilling program which is expected to upgrade approximately 175 million tonnes of the current 827 million tonne Inferred Resource to the Indicated category. Core samples from CVZ-72 have been shipped to ALS Laboratory in Reno, Nevada for assay processing on a "rush" basis. Assay results are pending.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,250/tonne LCE.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Chief Executive Officer and Director
C: 778.999.2159
For additional information please contact:
Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653
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. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is providing a corporate update and an update on its 100% owned Zeus Lithium Project ("Zeus" or the "Project"), located in Clayton Valley, Nevada
Zeus Lithium Project Update
In mid-March, the Company produced an updated Mineral Resource Estimate (MRE) for Zeus which outlined a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1. Following the updated MRE, the Company initiated a number of Project de-risking initiatives:
"The last four months have been very successful at de-risking the Zeus Project," stated Greg McCunn, CEO of noram. "Early results from the metallurgical test program are confirming and validating our process flowsheet as well as identifying efficiencies to reduce overall operating costs. By focusing the project on the high-grade core of the Zeus Project, we are expecting to materially increase grades of material fed to the processing plant for the first 15-20 years of operations. This will allow us to reduce the scale of the process facility, which is expected to result in lower capital costs, while still maintaining meaningful levels of lithium carbonate production for the electric vehicle battery market.
Preliminary results from Phase 1 of the PFS have outlined a robust business case for the Project and we are now optimizing the business case based on a series of trade off studies. We are expecting to begin releasing preliminary result from this important work when it becomes available later in the third quarter."
Corporate Update
On May 31st, the Company announced that it had engaged Creative Direct Marketing Group, Inc. (CDMG) to provide the Company with marketing services and to raise public awareness of the Company. Over the past two months, the Company has been working with CDMG to prepare for the upcoming campaign which is expected to include both digital and direct mail campaigns. The campaign is expected to get underway in September.
Executive Chairman, Sandy MacDougall said "We are looking forward to communicating the exciting results from our technical work so far this year as they become available later this quarter. We are making extensive efforts with this new investor awareness campaign. noram is looking forward to widening its reach by broadening our audience and sharing the merits of this incredible project with a largely untapped investor base. While the campaign will be focused largely on the United States, our existing investor base in Europe will continue to be communicated with through our VP of Corporate Development, Simon Studer, who is multi-lingual and based in Switzerland."
For additional information:
Contacts:
In Europe: VP Corporate Development simon.studer@noramlithium.com
Elsewhere: Investor Relations at ir@normanlithiumcorp.com
Website: www.noramlithiumcorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
About noram lithium corp.
noram lithium corp. (TSXV: NRM| OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital.
Footnote
1 Refer to the report entitled "Updated Resource Estimate Zeus Lithium Project, Esmeralda County Nevada" with an effective date of March 17, 2023 and filed under the Company's filings on www.sedar.com
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Clayton Valley Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
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.
Cautionary Statement Regarding Forward Looking Information
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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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.
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.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announces that it has engaged Creative Direct Marketing Group Inc. ("CDMG") to provide the Company with marketing services and to raise public awareness of the Company
"A leader in targeted advertising, Creative Direct Marketing Group, Inc is a full-service, direct response advertising and digital marketing agency with one goal in mind: increasing your response, market presence, and profits through ‘accountable advertising.' For more than 40 years, we've helped turn entrepreneurial start-ups into large companies and large companies into multibillion-dollar businesses" commented CDMG.
"This is another significant step forward for noram. The Zeus Project is a US-based project and yet Americans hold a relatively small market share. Engaging the expertise of CDMG, who hosts an enormously successful track record, will allow noram to further establish its rightful place in the heart of the push for a clean energy economy. America's domestic supply of battery-grade lithium is an indispensable part of this goal; as evidenced by the late 2022 U.S. Department of Energy funding initiatives for domestic supply" said Executive Chairman, Sandy MacDougall. "There is a vulnerability in the domestic supply chain and noram is well-positioned to be a key part of the solution."
Services to be provided by CDMG are anticipated to include investor awareness advertising over an initial term of twelve months commencing June 1, 2023 and continuing through May 31, 2024. CDMG has invoiced the Company for an initial amount of US$1,003,970 which is payable in tranches.
CDMG does not have any prior relationship with the Company and is an arm's length party. To the best of the Company's knowledge, CDMG does not hold, directly or indirectly, any securities of the Company or have any right to acquire any such securities. The proposed compensation for CDMG does not include any securities of the Company.
About noram lithium corp.
noram lithium corp. (TSXV: NRM| OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$11 million in cash on March 31, 2023 and no debt.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
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.
Cautionary Statement Regarding Forward Looking Information
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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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.
SOURCE:noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announced today it has appointed Mr. Glenn Barr as Vice President, Project Development, effective immediately
Mr. Barr has more than 25 years of experience in complex mining project development. Most recently he was Vice President, Project Development at Twin Metals Minnesota (TMM). His work included leading engineering studies, overseeing metallurgical test work programs and integrating environmental protection measures into project design. Prior to TMM, he held various roles at Stantec and Teck. As an Engineering Liaison at Stantec, he guided the environmental and engineering consultants in ensuring alignment and work efficiencies. While at Teck, he was integral in the development and commercialization of a novel hydrometallurgical process, and was a key member of the team that engineered and constructed a hydrometallurgical processing plant in Brazil. Mr. Barr holds a Bachelor of Science, Chemistry from the University of Victoria.
"We welcome Glenn to noram to the newly created position of Vice President, Project Development," stated Greg McCunn, CEO of noram. "His extensive experience with flowsheet development, engineering studies and the permitting environment in the United States will be instrumental to our continued de-risking of the Zeus Lithium Project. Glenn's initial focus will be managing the Prefeasibility Study for Zeus being led by Ausenco."
About noram lithium corp.
noram lithium corp. (TSXV: NRM| OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.
About the Zeus Project (100% noram)
The Zeus Lithium Project contains a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.
Please visit our web site for further information: www.noramlithiumcorp.com.
Footnote
1 Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Zeus Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
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.
Cautionary Statement Regarding Forward Looking Information
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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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.
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.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announces it has engaged Ausenco Engineering Canada Inc. ("Ausenco") to lead the Pre-Feasibility Study ("PFS") of its 100% owned Zeus Lithium Project ("Zeus" or the "Project") in Clayton Valley, Nevada
The Company recently engaged SRK Consulting Inc ("SRK") to produce an optimized mine plan for Zeus (see news release dated February 7, 2023) and initiated a further round of metallurgical testing with Kemetco Research Inc ("Kemetco") to confirm and refine the process design for the Project (see news release dated February 14, 2023). Both of these ongoing work streams will form the basis of the PFS, now being managed by Ausenco.
The PFS will consist of two phases of work, as follows:
"We are pleased to be partnering with Ausenco to continue to advance and de-risk the Zeus Lithium Project," stated Greg McCunn, noram's CEO. "The appointment of Ausenco marks a key milestone in the development of the project as we move Zeus, one of the largest lithium resources in North America, towards commercial production. Ausenco has a strong reputation in the global mining sector with a proven track record of delivering rigorous technical studies and executing successful projects."
About Ausenco
Ausenco is a global engineering consulting firm with its team based across 26 offices in 14 countries, with completed projects in over 80 locations worldwide. Combining a deep technical expertise with a 30-year track record, Ausenco provides innovative, value-add consulting and engineering studies and project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas and industrial sectors.
About noram lithium corp.
noram lithium corp. (TSXV:NRM) | (OTCQB:NRVTF) | (Frankfurt:N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.
About the Zeus Project (100% noram)
The Zeus Lithium Project contains a Measured and Indicated Resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.
Please visit our web site for further information: www.noramlithiumcorp.com.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Clayton Valley Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
Footnote
1 Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).
Cautionary Statement Regarding Forward Looking Information
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 results from this round of test work will confirm the Company's ability to recover high-purity lithium carbonate from Zeus mineralized material. 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.
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.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
noram lithium corp. ("noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announced today that it has filed on SEDAR a National Instrument 43-101 ("NI 43-101") technical report (the "Report") titled "Updated Resource Estimate Zeus Lithium Project". The technical report supports the updated Mineral Resource Estimate announced on January 30, 2023 and is available for review on both SEDAR (www.sedar.com) and the Company's website (www.noramlithiumcorp.com). There are no material differences in the mineral resources reported in the news release of January 30, 2023 and those described in the report
About noram lithium corp.
noram lithium corp. (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.
About the Zeus Project (100% noram)
The Zeus Lithium Project contains a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent ("LCE", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.
In December 2021, a robust PEA2 indicated the Project could produce an annual average of 31,900 tonnes of Lithium Carbonate for supply to battery manufacturers with a modelled mine life of 40 years (resources support a +100 year mine life). The PEA outlined a US$528 million capital cost to construct the Project with a robust after-tax NPV(8%) of US$1.3 billion and an IRR of 31% using US$9,500/tonne LCE pricing. The PEA indicates an after-tax NPV(8%) of US$2.7 billion and an IRR of 52% at US$14,250/tonne LCE pricing. Note that the current daily prices have increased to over US$45,000/tonne LCE.
Please visit our web site for further information: www.noramlithiumcorp.com.
Footnote
1 Updated Resource Estimate Zeus Project, ABH Engineering (December 2022).
2 Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to noram's Clayton Valley Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for noram.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
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.
Cautionary Statement Regarding Forward Looking Information
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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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.
SOURCE: noram lithium corp.
News Provided by ACCESSWIRE via QuoteMedia
Highlights
Loyal Lithium's 100% owned Hidden Lake Lithium Project is strategically located 65 km from the mining city of Yellowknife, NWT. It is positioned between LIFT Power (TSXV:LIFT), which has a regional MRE1 of 50.4 Mt @ 1.0% Li20, and the all-weather Highway 4.
Figure 1: Hidden Lake Lithium Project - 100% Loyal Lithium owned with 3,250m of outcropping Lithium (spodumene) Dykes strategically positioned between LIFT POWER's MRE and Highway 4.
Mr. Way is an experienced international executive with over 30 years of management experience in the resources and construction industry across Australasia, Canada, the United States, and Lurope. As President & CEO of Patriot Battery Metals, Mr. Way was integral in growing the company through the successful exploration and consolidation of the largest lithium deposit in North America, the Shaakichiuwaanaan Project (formerly Corvette). With $6.0 million in funding, Loyal Lithium is well positioned to advance its promising Canadian lithium assets for the maturing North American lithium market.
Commenting on the consolidation agreement and appointment of Mr. Blair Way, Loyal Lithium Managing Director, Mr Adam Ritchie, said:
"We are thrilled to welcome Blair to the Loyal Lithium Board. His extensive regional and industry expertise will be invaluable as we drive the company's growth initiatives. Blair's proven track record with Patriot Battery Metals speaks for itself and demonstrates his unique ability to advance projects and create shareholder value."
"The consolidation of the Hidden Lake Lithium Project enables us to actively explore emerging opportunities for innovative solutions in Canadian critical mineral mines. The Hidden Lake Lithium Project, located along a highway, features unique geology and mineralogy that could deliver meaningful economic and social benefits to the region."
"I look forward to working closely with Blair to execute our 2025 strategic plan and advance both our Hidden Lake project and the Trieste Lithium Project in Quebec."
Commenting on his appointment, Loyal Lithium Non Executive Director, Mr Blair Way, said:
"It has been a pleasure working with Adam and the Loyal Lithium team over the last 18 months. The team has done a great job in advancing their Canadian hard rock lithium assets, achieving significant milestones to date.
The long-term source of North America's lithium is becoming increasingly clear with several Quebec-based world-class hard rock assets now defined. The Trieste Greenstone Belt demonstrates significant potential, showing early-stage characteristics similar to those seen by Patriot Battery Metals at Shaakichiuwaanaan.
The collaboration potential of the Trieste Greenstone Belt is the key to unlocking value for all, contributing to the sustainable development of the lithium industry. I look forward to working with the Loyal Lithium team to realise this potential and further advancing Loyal's assets.
THE HIDDEN LAKE LITHIUM PROJECT CONSOLIDATION AGREEMENT
The Hidden Lake Lithium Project was initially structured as a 60% Loyal Lithium and 40% Patriot Battery Metals joint venture. The parties involved have now agreed to divest Patriot Battery Metals' minority 40% holding in exchange for shares in Loyal Lithium.
Click here for the full ASX Release
This article includes content from Loyal Lithium Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, had produced a video highlighting the recent lithium carbonate pilot scale production as reported in the RNS published 21st November 2024. Link to video: https://shorturl.at/a9WLq
Steve Kesler, Executive Chairman at CleanTech Lithium, said:
"We are thrilled that the Company, in collaboration with Conductive Energy Inc. and Forward Water Technologies, has successfully produced pilot-scale lithium carbonate samples, providing verification for each process step. The recent site visit video showcased the effectiveness of the downstream conversion process and marks a significant step towards the development stage of our lithium projects based on using direct lithium extraction (DLE).
The samples will be sent to a laboratory to confirm the grade and impurity profile, which is expected to be battery-grade. The pilot plant will provide significant volumes of battery grade samples for strategic partner qualification. Congratulations to all the teams involved."
Haafiz Hasham, Chief Executive Officer at Conductive Energy, said:
"We are excited to work with CleanTech Lithium to convert the high-quality eluate produced by their DLE pilot plant utilising brine from their Laguna Verde project, into lithium carbonate using Conductive Energy's advanced chemical conversion technology. This successful pilot highlights the potential of CleanTech Lithium's DLE process and our expertise in downstream processing to drive scalable, high-purity lithium production for the global energy transition."
About Reach announcements
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For further information contact: | |
CleanTech Lithium PLC | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
Lithium Universe (ASX:LU7) is dedicated to closing the ‘Lithium Conversion Gap’ in North America by developing a mine-to-battery-grade lithium carbonate strategy in Québec, Canada. Our mission is to support the supply chain needs of original equipment manufacturers (OEMs), particularly in the automotive sector, by converting spodumene supply into lithium chemicals for EV battery plants North America.
Our business model focuses on converting spodumene supplies under "take or pay" agreements with OEMs. These agreements include protective pricing mechanisms, such as floor and ceiling prices, to ensure stable margins and mitigate market volatility. This approach guarantees our LU7 refinery's payback while providing OEMs with a reliable and sustainable supply of lithium chemicals.
North America anticipates a surge in battery manufacturing, with over 20 major manufacturers planning to deploy an estimated 1,000 GW of battery capacity. These are companies such as General Motors, LG Energy Solution, Ford, Power Co, Northvolt, Tesla, AESC, Toyota and Honda. Assuming the planned battery manufacturing capacity of 1,000 GW by 2028, using a ratio of 850 g lithium carbonate equivalent (LCE) per KWh, the company estimates that 850,000 tons of LCE per annum will be required to satisfy demand in North America.
On the supply side, Canada has surpassed China to claim the top spot in BloombergNEF’s Global Lithium-Ion Battery Supply Chain Ranking, a comprehensive annual evaluation of 30 countries’ potential to develop secure, reliable, and sustainable lithium-ion battery supply chains. Québec has been established as one of the most prospective regions with over 40 companies dedicated to lithium exploration and development. The cumulative lithium resource in just Québec exceeds 500Mt at +1 percent lithium oxide across eight distinct projects, which has increased over 100 percent within the last 12 months. Many companies have plans to develop mines and concentrating facilities to produce spodumene concentrate.
Figure 1: Projected US EV Battery Demand and Announced Battery Production Capacity (2022-2032)
[Source: US Department of Energy, January 2023]
Spodumene concentrate needs to be converted to battery-grade lithium carbonate or hydroxide to be used in the production of cathode materials for lithium-ion batteries. Currently, there are no operational converters in North America and the company estimates approximately only 100,000 tons of planned hard rock converters are slated for construction in the region. The region seeks to decrease dependence on Chinese lithium converters, aligning with both commercial and national security goals. Canada, acknowledging the significance of energy security, has intensified efforts to reduce Chinese involvement in the sector as part of a “decoupling” or “de-risking” strategy, mirroring the actions taken by the United States.
The company’s strategy involves assembling a seasoned team of lithium experts renowned for rapidly delivering successful projects, dubbed the 'Lithium Dream Team', boasting extensive expertise in both hard rock lithium extraction and downstream operations, all within a single company.
Lithium Universe is headed by the chairman, Iggy Tan, who is considered a pioneer in the modern lithium industry. Over 20 years ago, Tan was one of the first Australian mining executives to recognize the potential of the emerging lithium-ion battery industry. He led Galaxy Resources and built the Mt Cattlin spodumene project (137,000 tpa of spodumene product) and the downstream Jiangsu lithium carbonate project (with a capacity of 17,000 tpa). This was the first large-scale vertically integrated, mine-to-battery-grade lithium carbonate project in the world.
Joining Iggy on the board are Pat Scallan and Dr. Jingyuan Liu. Scallan is a seasoned veteran of the lithium industry with over 25 years of managing the world-class Greenbushes Mine. He oversaw the mine's many expansions, increasing annual output from 200,000 in 1997 to over 1.4 million tpa today. Liu is widely regarded as a leading technical expert in the lithium industry. He was previously the general manager of development and technologies at Galaxy Resources, where he was responsible for overseeing the construction and commissioning of the Mt Cattlin spodumene project and the world-renowned Jiangsu lithium carbonate plant. Liu has acted as a special adviser to various lithium carbonate and lithium hydroxide projects globally.
Additional Dream Team members include: Terry Stark, who previously served as the general manager of operations for both Mt Cattlin and James Bay projects; Roger Pover, with extensive experience as plant manager at Greenbushes and Mt Cattlin; and Huy Nguyen, known for his expertise in the design and construction of the Mt Cattlin mine. John Loxton, who was involved in the construction of the Jiangsu lithium carbonate plant for Hatch Engineering, has also joined the company. John Sobolewski, former CFO and company secretary of Galaxy Resources pivotal in financing both projects, assumes the role of chief financial officer role at Lithium Universe, marking a significant addition to the LU7 team's financial expertise in the lithium domain.
The Jiangsu lithium carbonate plant was designed to produce 17,000 tpa of battery-grade lithium carbonate. It adopted advanced Western style continuous process control techniques, setting a standard for lithium refineries globally. The plant now exceeds its design capacity, producing 20,000 tpa, and its battery-grade product ranks among the industry's finest. Constructed and achieving steady-state quality was accomplished within two years of ground-breaking. Lithium Universe plans to replicate the successful design of the Jiangsu lithium carbonate plant entirely, employing the same suppliers, equipment and engineering firm – mitigating the second major risk. Lithium Universe has contracted Hatch Limited to conduct the definitive feasibility study (DFS), the same engineering company responsible for the original design and construction of the Jiangsu lithium carbonate plant.
Lithium Universe is advancing a mine-to-battery-grade lithium carbonate strategy in Canada through the Québec Lithium Processing Hub (QLPH). The QLPH includes a multi-purpose independent 1 Mtpa concentrator and an independent 16,000 tpa battery-grade lithium carbonate refinery. The QLPH concentrator and lithium carbonate plant aim to replicate the proven success of the Mt Cattlin spodumene operation and Jiangsu lithium carbonate plant to minimize startup and operational risks.
Figure 2: The Company’s proposed lithium carbonate refinery at layout at Bécancour, Québec.
The company has successfully executed an option agreement to acquire a commercial property located within the Bécancour Waterfront Industrial Park (BWIP) between Québec City and Montréal. The industrial land secured is only 2.5 kms to the Bécancour deep-water port, allowing the import of spodumene to the facility. The company is taking a significant step towards the production of greener battery-grade lithium carbonate at the proposed Becancour lithium refinery.
Results of its preliminary feasibility study (PFS) for the Bécancour Lithium Carbonate Refinery. The PFS confirms the viability of a strong lithium conversion project, even within a below-average pricing environment. LU7 continues to progress full definitive feasibility study while offtake discussions with interested OEMs underway.
Financial Modelling:
As an integral part of the company’s DFS, Lithium Universe has initiated metallurgical testing on various sources of spodumene. This process involves utilizing the flow sheet developed for the Québec Lithium Processing Hub refinery.
Currently, the testing is progressing smoothly, and no challenges have been identified with any of the spodumene samples. Each test program is thorough and spans several weeks, with two complete programs already concluded successfully achieving higher than the international battery grade specification of 99.5 percent lithium carbonate. All impurity levels were well within specification limits.
Iggy Tan, a trailblazer of the modern lithium industry, was one of the first Australian mining executives to identify the significant opportunity within the emerging lithium-ion battery sector when he spearheaded Galaxy Resources Limited. Tan is looking to replicate that success with Lithium Universe, having built Galaxy’s Mt Cattlin Spodumene Project and the downstream Jiangsu Lithium Carbonate project. He also acquired the James Bay Spodumene Project in Canada and the Sal de Vida Brine Project in Argentina for Galaxy.
When Tan started at Galaxy, the company’s market capitalization was less than AU$10 million. It rose to AU$2.5 billion when the company merged with Orocobre Limited in August 2021. Tan's previous experience working with lithium dates back to the early 1990s when he briefly managed the Greenbushes Lithium Mine and commissioned the first lithium carbonate plant for Gwalia Consolidated.
Tan has over 30 years of chemical and mining experience and has served as executive director for a number of ASX-listed companies. He holds a Master of Business Administration from the University of Southern Cross, a Bachelor of Science from the University of Western Australia and is a graduate of the Australian Institute of Company Directors. He is currently CEO and managing director of Altech Batteries (ASX:ATC,FRA:A3Y)
Alex Hanly has over 10 years of experience in capital delivery and operational management for publicly listed companies within the mining, oil & gas, and manufacturing industries in Australia and Africa. Over the last three years, Hanly held the role of chief executive officer of ASX-listed gold company Polymetals Resources (ASX:POL). He was responsible for the successful IPO of the company, the operational management and the efficient execution of the fast-track strategy.
Hanly has a Bachelor of Mechanical Engineering and Master of Business Administration specialising in global project management.
Patrick Scallan’s extensive experience in the lithium industry is a valuable addition to the LGX board. With over 25 years of management experience at the world-class Greenbushes Mine, he is a seasoned veteran. Greenbushes is the largest lithium hard rock mine globally and also hosts the highest-grade ore body in the world. This makes Greenbushes a unique anomaly, as no other lithium deposit worldwide compares to it.
Scallan oversaw the mine’s many expansions, increasing annual output from 200,000 in 1997 to 1.4 million tpa today, and navigated numerous ownership changes during his tenure. He is a specialist in hard rock mining and spodumene concentrating, with downstream relationships with major spodumene converters worldwide.
Scallan is also highly skilled in managing local community relationships, having acted as shire councillor for nearly 20 years during his time at Greenbushes, receiving his Order of Australia Medal for his community and local government contribution. His previous roles include management positions at Capel and Eneabba Mineral Sands in Western Australia and Western Deep Levels Gold Mine in South Africa.
Dr Jingyuan Liu is widely regarded as a leading technical expert in the lithium industry. He previously held the position of general manager of development and technologies at Galaxy Resources, where he was responsible for overseeing the construction and commissioning of the Mt Cattlin Spodumene Project and the world-renowned Jiangsu Lithium Carbonate plant. Liu also played a key role in designing the flow sheet for the Sal de Vida brine project.
Following his work with Galaxy, he has acted as a special adviser to various lithium carbonate and lithium hydroxide projects globally, including the Lithium Hydroxide Plant operated by Tianqi in Kwinana, Western Australia.
Liu has over 30 years’ experience in project management, process and equipment design for minerals processing and the chemicals, non-ferrous metals, iron & steel and energy industries, both in Australian and internationally. He was awarded a PhD in chemical engineering from the University of Newcastle, Australia and has worked in senior chemical engineering roles with leading companies such as Hatch Engineering and Metso Minerals in Australia and Malaysia.
He is currently chief technology officer for Altech Batteries (ASX:ATC), developing high capacity silicon anode lithium-ion batteries.
John Sobolewski’s experience in the lithium industry offers another valuable addition to the LU7 dream team. At Galaxy Resources, he played a pivotal role during the feasibility, funding, construction and operation phases of the Mt Cattlin Spodumene mine and Jiangsu Lithium Carbonate refinery. He was also crucial in establishing teams and systems in Australia and internationally. His experience in financial modelling and debt modelling for both projects will be critical in Lithium Universe, completing definitive feasibility studies of the Québec Lithium Processing Hub concentrator and lithium carbonate refinery projects.
Sobolewski is a chartered accountant and a graduate of the Australian Institute of Company Directors. His previous roles include managing director and CEO with Mintrex, CFO and company secretary with Mintrex, Galaxy Resources Limited and Vital Metals Limited, financial controller and company secretary with Croesus Mining NL, and group accountant and company secretary with Titan Resources NL.
Vincent John Fayad is a chartered accountant with over 40 years of experience in corporate finance, international M&A, accounting and advisory-related services primarily undertaken by mid-tier accounting firm PKF. In 2016, he established his own firm, Vince Fayad & Associates, to provide accounting and advisory services within Australia and overseas.
Over the last 25 years, Fayad has spent a significant amount of time advising on various transactions, predominantly related to the mining and exploration industries and providing accounting and corporate secretarial experience to mining exploration companies.
Fayad is currently an executive director and joint company secretary of Astute Metals NL (ASX:ASE) and joint company secretary of Greenvale Energy (ASX:GRV). He is also a non-executive director of Nexon Asia Pacific, a telecommunications company, controlled by private equity group EQT.
Kurt Laney is an experienced chartered accountant specialising in the provision of advisory, consultancy, taxation and corporate secretarial services. Laney is currently an associate director of Vince Fayad and Associates, where he provides accounting and taxation services to high-net-worth individuals, family offices, large family-owned businesses and multinational entities.
Laney is also the joint company secretary and CFO of Greenvale Energy Ltd (ASX:GRV) and Astute Metals NL (ASX:ASE), along with several unlisted public companies primarily focused on the tech and mining industries. He has previously served as the company secretary of Polymetals Resources (ASX:POL).
Justin Rivers possesses more than 20 years of senior executive, technical and commercial experience in Africa, Australia, Asia, Arctic, Middle East, North America and South America in the major and junior space, with a particular focus on Iron Ore and Gold. He has a well-tenured strategic and tactical approach to the mining industry with intimate commercial, business development and M&A experience in Tier-1, publicly listed and private equity environments.
Prior to joining Lithium Universe Limited, Rivers held the position of executive director and CEO of Mauritian domiciled private equity company Convertible Resources, driving strategic development of its gold projects in the Siguiri region of northeast Guinea. He has a Bachelor of Science (first class honours) majoring in geology and environmental science from the University of Tasmania.
Terry Stark was previously managing director - resources division for Galaxy Resources (ASX:GXY), where he was responsible for all of Galaxy’s mineral resources assets such as exploration and mine operations. Stark oversaw the Mt Cattlin construction and subsequent successful start-up. He also managed the Galaxy James Bay project and had a good relationship with the local Cree Nation.
A veteran mining engineer, Stark holds a Bachelor of Applied Science specialising in mining engineering.
John Loxton's lithium experience commenced in 2010 with work on the Jiangsu Lithium Carbonate Plant EPCM for Galaxy Resources in China where his responsibilities initially were at a Sponsor level, and further into the project. He was the project manager for the final stages of construction and commissioning. In 2019, Loxton was engaged by Tianqi Lithium as head of projects for the execution of their investment in a lithium hydroxide processing plant in Kwinana, Western Australia. He managed the commissioning of the first train achieving the first product in 2021 and undertook execution planning and establishing a project team for an identical second train in 2022. Loxton is a project manager with over 45 years of experience across a diverse range of energy, industrial, process, civil, and major infrastructure projects.
Roger Pover was previously the Mt Cattlin plant manager for Galaxy Resources (ASX:GXY). He was part of the commissioning and start up team and operated the plant for many years. Pover also directed all optimisation modifications made at Mt Cattlin.
Pover is a veteran in the lithium industry, having commenced his career at Greenbushes Lithium mine in the early 90s. He has a 45-year career in the mining and chemical processing industries involving mineral sands, alumina refining, lithium, iron ore, tantalum minerals and tin production.
Huy Nguyen has been seconded from Mintrex to act as Lithium Universe Limited’s engineering client representative. Mintrex was the lead engineering company that designed and constructed (together with DRA Global) the Mt Cattlin Spodumene Plant.
Nguyen was part of the construction supervision when Mt Cattlin was built, so he is experienced with not only the design but also the construction process that delivered a project on time and on budget.
Nguyen has a Bachelor of Mechanical Engineering from Curtin University, Master of Business Administration and a member of Engineer Australia.
Victoria Vargas brings to Lithium Universe (Holdings) more than 25 years of experience in the North American capital markets, with a significant focus on the Canadian mineral sector. She began her career at Kinross Gold Corporation and joined Alamos Gold in 2004. During her tenure, she played a pivotal role in enhancing investor exposure and facilitating the company's transition from the TSX Venture to the TSX. Before joining Alamos Gold, Vargas worked for H2O Innovation, a Québec-based company focused on providing best-in-class technologies and services for the water and wastewater treatment industry.
