VANCOUVER, BC / ACCESSWIRE / January 12, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSXV:NRM)(FSE:N7R)(OTCQB:NRVTF) is pleased to announce that the Company has resumed drilling in Clayton Valley. The expanded permitting was accepted by the Bureau of Land Management at the end of 2020. Phase V will include 12 holes drilled to a maximum depth of 500ft. This is the deepest drilling by the Company to date and the 3 completed holes have all shown favourable clays at depths below 400ft.
On January 7, 2021, Albemarle Corp.'s Silver Peak operations, with lithium brine evaporation ponds 0.75 miles (1.2 km) from Noram's the Zeus Property, announced the expansion of their operations (https://www.albemarle.com/news/albemarle-announces-expansion-of-nevada-site-to-increase-domestic-production-of-lithium). In addition, Albemarle intends to initiate a program that "commences exploration of clays for the commercial production of lithium as well as evaluate technology that could accelerate the viability of lithium production from clay resources in the region". As the only producer of lithium in North America, this has a profoundly favourable impact on Noram.
"The recent announcements by Tesla, Albemarle and Cypress have been well received by investors. The lithium industry continues to make headlines in spite of the uncertainly brought about by the pandemic. Analysts predict a better price environment ahead for lithium; indeed we are seeing the price for lithium carbonate (99.5% pure) rising in China over the past month. And the impending change in administration in the United States bodes well for the future of green energy in the USA and for Noram," commented Anita Algie, CFO and Director.
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 is the Zeus Lithium Project ("Zeus") in Clayton Valley, Nevada. The Zeus Project has a current resource estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resources (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent - "LCE".
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.