Sample Assays from the Main Target Area Returned an Average Value of 621 Ppm Lithium Over 77 Samples with a Maximum Value of 1670 Ppm Lithium
VANCOUVER, BC / ACCESSWIRE / December 8, 2016 / Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTC PINK: NRVTF) ("Noram" or the "Company") is pleased to announce its wholly owned subsidiary Green Energy Resources ("Green Energy") has commenced a 55 hole drilling program just east of Albemarle's lithium brine operation and approximately six miles (10 km) northeast of Silver Peak, Nevada (Figure 1).
As previously announced on December 5th 2016, Noram entered into a Letter of Intent (LOI) with Alba Minerals to option up to a 50% interest in Green Energy and its lithium projects. In keeping with the terms of the LOI, Alba has made the initial option payment of $127,500 and the drilling crew has been mobilized.
The Phase I core drilling program will focus on Noram's South Block claims with some 50 holes to be drilled in the main target area that measures approximately two and a half miles (4.1 km) by one and a half miles (2.4 km) on the Zeus claims and border of the Zeus Extension claims (Photo 1). An additional five holes are to be drilled on the adjacent Hades claims around the historical shaft where lithium values over 1,000 ppm were sampled from the spoil pile (Photo 2). The Program, that will include drilling, core logging, splitting, sampling, and assay analysis, is expected to be completed by mid-January 2017.
"We are very pleased to be underway with our first phase of drilling in the Clayton Valley," said Mark Ireton, CEO and President of Noram. "Our objective is to delineate a portion of the lithium mineralization on the South Block claims and produce an initial, National Instrument 43-101 resource estimate by the end of January 2017."
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is an independent Qualified Person as defined under NI 43-101 with respect to Noram's Clayton Valley Lithium Project.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V:NRM; Frankfurt:N7R; OTC PINK: 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 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 lithium projects in Clayton Valley, Nevada, and the Hector Lode in San Bernardino County, California; 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
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.
SOURCE: Noram Ventures Inc.