Inferred Mineral Resource of Approximately 17 Million Metric Tonnes at a Grade of about 1,060 ppm Li, which Equates to 96,476 Metric Tonnes of Li Carbonate Equivalent
VANCOUVER, BC / ACCESSWIRE / November 30, 2017 / Noram Ventures Inc. (TSX-V: NRM / FSE: N7R / OTC PINK: NRVTF) ("Noram" or the "Company") and Alba Minerals Ltd. ("Alba") (AA.V; AXVEF; A117RU) are pleased to announce their subsidiary Green Energy Resources ("Green Energy") has applied to the Bureau of Land Management (BLM) for an expansion of the initial prospecting permit and undertake additional exploration and resource definition drilling on the Clayton Valley lithium project (see claim map).
A total of 20 holes are planned for three areas as an extension of the 46-hole Phase I drilling program completed earlier this year. Four exploration holes in Area 1 adjacent to the bore hole (Photo 1) on the Hades claims and four exploration holes in Area 2 on the Zeus Extension claims. Areas 1 and 2 each received one core hole during the first round of drilling with very encouraging results and assays up to 1290 ppm lithium. The other 12 holes will be drilled in Area 3 and are designed to infill and expand upon the close spaced drilling that formed the basis of the maiden inferred resource estimate previously announced on the Zeus claim block.
The locations of these additional drill holes are not expected to require any additional pad or access road construction over and above a disturbance of 5 acres, which is the upper limit of disturbance for a BLM Notice of Intent permit. In accordance with applicable BLM and Nevada Division of Minerals (Division) regulations Green Energy submitted the exploration plan of operations to supplement the Notice of Intent to conduct exploration coring that upon implementation is designed to demonstrate the existence of additional valuable lithium resources within the prospect area. Activities are anticipated to be completed within one month following the receipt of the permit and posting of the reclamation bond. The activities are to include drilling, core logging, splitting, photography, analysis, and core hole plugging. Following core hole plugging, incidental surface reclamation will begin as soon as weather permits.
We are pleased to be expanding our drilling program after the encouraging results from our recently published N.I. 43-101," said Mark Ireton, CEO and President. "We are progressing well and particularly pleased with results given the small 5-acre footprint explored out of a total of 12,920 contiguous acres. The expanded exploration core drilling program will begin in Q1 2018 once we receive BLM permits."
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 / 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 the Clayton Valley in Nevada, the Arizaro East mineral claim located in the eastern portion of the Salar de Arizaro in north-western Argentina and the Jumbo graphite property in 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.
For further information, please visit www.noramventures.com.
About Alba Minerals
Alba Minerals Ltd. Is a Vancouver based junior resource company with projects in North and South America, focusing on the development of our Lithium properties. Lithium Projects are located in Clayton Valley Nevada where Alba has earned a 25% interest in the project. The second lithium project Quiron II consists of 2,421 hectares of prospective exploration property in the Pocitos Salar, Province of Salta, Argentina. The Project is located approximately 12 km northeast of the Liberty One Lithium Corp and 19 Km from Pure Energy Minerals Ltd.
Please visit our website for further information: www.albamineralsltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
s/ "Mark Ireton"
President & Director
Direct: (604) 761-9994
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 circumstances or management's estimates or opinions change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Noram Ventures Inc.