VANCOUVER, BC / ACCESSWIRE / November 19, 2020 / Noram Ventures Inc. ("Noram") (TSXV:NRM)(FSE:N7R)(OTCQB:NRVTF) is pleased to announce that the Company has commenced drilling Hole #7 (CVZ-62 or H below) outside the previously drilled area and south-west of the recently completed Hole #1 (CVZ-61 or F below) where the Company intersected one of its thickest claystone sections to date.
Noram is currently drilling below 187ft (57m) on CVZ-62. Green clays were intersected at 74ft (23m) which turned into blue clays at approximately 132ft (40m). This has continued down to the current level of drilling. "So far we are incredibly encouraged from these results. Without prior drilling, we were unable to confirm the presence of favourable claystone units in this zone which is outside the current resource area. Now, we are near the completion of two holes with significant claystone intersections. These intersections clearly host meaningful green-blue claystone which has been shown to contain high lithium grades. We are both excited and confident that this will expand the current resource estimate to the south and east as Noram set out to do", stated Brad Peek, consulting geologist and Qualified Person for this and all 4 of the previous drilling phases of Noram's Zeus Lithium property.
Figure 1 - The drill operating on the Zeus Phase V Program
The Phase V drill program is slated for 1440 meters, comprising 12 drill holes at approximatelt 393ft (120 m) depth each. Noram aims to complete this program and upgrade the resource estimate to include a Measured Mineral Resource. This would indicate that the part of the resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate will be based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity. "Management will continue to be committed to acting in the best interest of the shareholders and increasing shareholder value. This fully-funded drill program is just the beginning of some major steps forward. The market volatility in 2020 has worked to our advantage by delaying the inevitable surge in lithium demand backed by the energy revolution. Noram has remained active and in the interim, is making significant strides to advance and develop this deposit; positioning ourselves to capitalize upon the high-paced lithium demand increases ahead" commented Anita Algie, CFO and Director.
Figure 2 - Zeus property map showing: a) location of current Indicated and Inferred resources at >900 ppm Li cut-off; and b) location of proposed drill holes for Fall 2020 campaign
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., 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. (TSXV:NRM)(FSE:N7R)(OTCQB: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/ "Anita Algie."
Director and CFO
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.