Phase II surface and sub-surface sample results from the central portion of the Zeus claim group returned lithium values averaging 780 ppm
VANCOUVER, BC / ACCESSWIRE / July 26, 2016 / Noram Ventures Inc. (TSX-V: NRM and Frankfurt: N7R) ("Noram" or the "Company") is pleased to report the final assay results from the Phase II surface and sub-surface sampling continue to indicate a lithium rich evaprorite rock sequence on the Zeus claim group of its Clayton Valley Lithium Project (see Figure 1). The Zeus claim group is located within two kilometers of Albemarle's Silver Peak Lithium Mine that has been in production since 1966 and is the only lithium brine operation in North America.
The Phase II sampling program included a total of 73 samples and results from the final 51 samples increased the average sample assay value to approximately 780 ppm lithium with a range of 206 ppm to a high of 1,670 ppm lithium in the claystones (see Table 1 for all sample descriptions and assay results).
The samples were taken over a 1,200-meter-long by 800-meter-wide area and it is important to note that the samples are primarily vertical chip samples. The vertical chips range from two feet (~0.6 meters) to 10 feet (~3 meters) in length and most are "stacked", in that the samples were taken stratigraphically above or below the previous sample. With this type of sampling the variability in sample values between beds can be ascertained.
The results indicate the potential for a large mass of lithium mineralized claystones commencing at surface and extending to yet unknown depths. It appears, at least in some areas of the Zeus claim group, that the lithium-rich clays of the Esmeralda Formation are buried beneath more recent sediments that contain anomalous lithium values spread over a wide area. The area measures approximately 2.5 miles (4.1 km) by 1.5 miles (2.4 km) on the Zeus claims. Basically, wherever the Esmeralda Formation outcrops, there are beds that carry anomalous lithium.
Noram's independent technical consultant, Bradley Peek, MSc and PGeo, supervised the collection of the Phase II samples. The samples were submitted to ALS Minerals in Reno, NV, for analysis. The samples were crushed, split, a portion was pulverized and a one-gram aliquot analyzed by ALS Chemex method ME-MS61 (48 elements, including lithium, four-acid ICP-MS).
Mark Ireton, President of Noram, said, "The analytical results from The Phase II sampling program are extremely encouraging and we will now apply to the Nevada State Bureau of Land Management for the necessary permits to conduct shallow core drilling to test the higher-grade lithium zones identified on the Zeus claim group."
Noram is amassing one of the largest land packages in Nevada's Clayton Valley. Its non-contiguous North and South Blocks now total 888 claims covering 17,738 acres and are positioned both north and south of Albemarle's Silver Peak mine, North America's only lithium producer.
Michael Collins, P.Geo., and independent Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical content of this news release on behalf of the Company.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite 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 that include the lithium projects in Clayton Valley in Nevada and the Jumbo graphite property in southeastern British Columbia. Noram's long term strategy is to build a multi-national lithium-graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Mark R. Ireton"
President & Director
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.
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SOURCE: Noram Ventures Inc.