VANCOUVER, BC / ACCESSWIRE / July 30, 2020 / Noram Ventures Inc. ("Noram") (TSXV:NRM)(Frankfurt:N7R)(OTC PINK:NRVTF) is preparing to permit with the Bureau of Land Management ("BLM") in Nevada for a Fall drill program on the Zeus lithium claystone property.
Noram plans on a two-stage drill program of 2500 meters in total, with 8-12 diamond drill holes in the early Fall, and 8-12 drill holes in late Fall. The deposit is within sub-horizontal claystones of the Mid-Miocene to Mid-Pliocene Esmeralda Formation, which is present at surface or under a thin alluvial cover. Previous drilling has outlined, at a 900 ppm lithium cut-off, 124 million tonnes at 1136 ppm lithium as indicated resources, and 77 million tonnes lithium at 1045 ppm lithium as inferred resources (0.75 and 0.43 million tonnes lithium carbonate equivalent - "LCE" , respectively; see Noram press release February 5, 2020, and Peek and Barrie, 2019 /1/). There are over two square kilometers of fertile ground yet to be drill-tested on the Zeus property.
Noram management believes that this drilling will significantly expand the resource, as there is evidence for claystone at or near surface everywhere on the property. C. Tucker Barrie, President and CEO of Noram Ventures Inc., comments: "Drill testing the in thick, nearly horizontal strata of the Esmeralda Formation will be a straightforward exercise. So far, our deposit is 60 - 120 meters thick, and thickens to the east and south where much of the drilling will take place. In eastern Clayton Valley, there are known listric normal faults that step down toward the west, and this program should determine if these faults are significant on the property. Our drilling will allow us to produce an updated resource calculation with Measured, Indicated and Inferred resources.
In addition, we are planning engineering and economic studies toward a Preliminary Economic Assessment in 2020 (PEA). We will also contract out studies on: 1) mineral processing and metallurgical testing; 2) pit design, schedule and mining, and 3) details about processing costs and economics.
Regarding mineral processing, we aim to analyze pre-processing of the claystone material using hydrocyclones to separate non-lithium bearing material (e.g., quartz and feldspar sand and gravel) from the lithium-bearing clay minerals, as well as to conduct detailed testing with sulfuric acid at low and high concentrations, and with variable temperature. We believe there are alternative processes that may streamline the extraction and concentration of lithium once it is in a low pH solution, and we aim to incorporate such studies into the PEA."
/1/ Peek, B. C. and Barrie, C. T., 2019, NI 43-101 Technical Report - Updated Resource Estimate, Zeus Projet, Clayton Valley, Esmeralda County, Nevada, USA, 70 p.
The technical information contained in this news release has been reviewed and approved by C. Tucker Barrie, Ph.D., P. Geo. 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 / OTCPINK: NRVTF) is a Canadian based junior exploration company, with a goal of developing lithium deposits and becoming a low - cost supplier. The Company's primary business focus since formation has been the exploration of mineral projects. Noram's long term strategy is to build a multi-national lithium minerals company to produce and sell lithium 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/ "C. Tucker Barrie, Ph.D., P. Geo."
President and CEO
Office: (604) 553-2279
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.