Noram has amassed one of the largest land packages in the Clayton Valley
VANCOUVER, BC / ACCESSWIRE / June 9, 2016 / Noram Ventures Inc. (TSX-Venture: NRM and Frankfurt: N7R) (“Noram” or the “Company”) is pleased to report initial sampling results from the 100% owned South Block Extension of its Clayton Valley Lithium Project, which is located adjacent to Pure Energy’s lithium project and south of Albermarle’s Silver Peak mine that is North America’s only producer of lithium carbonate and lithium hydroxide.
The South Block Extension, recently acquired by staking through Noram’s wholly owned subsidiary Green Energy Resources, consists of 550 claims in three claim groups (Zeus, Hades and Spartan) and covers approximately 10,740 acres (see Figure 1 and news releases of May 26, 2016 and June 7, 2016).
The initial sampling program consisted of 16 grab samples taken from claystone outcrops within the Zeus and Spartan claims. Assay results ranged from 49 to 760 ppm Li with an average value of 289 ppm Li. Assays were conducted with an MS-ICP analysis package by ALS in Reno, Nevada.
Noram’s independent technical consultant, Bradley C. Peek, MSc and Certified Professional Geologist said:
“The prospectivity of the Noram claims is extremely favorable, both for the lithium brine potential and for the potential of the Tertiary Esmeralda Formation. The brine potential is established by professional geologic reports and by the Noram claims’ presence in the Clayton Valley, the location of the only lithium brine production in North America.”
“New processes to produce lithium from sediments have made the prospects for the Esmeralda Formation appear exceedingly good. The Esmeralda has been found to contain anomalous lithium values on the Noram claims and is exposed at surface over the several square mile area covered by the claims. Access and infrastructure are available to the project and it is located in the mining friendly State of Nevada. All these factors combine to give the project a very promising outlook.”
Based on the results of the sample analyses, a more extensive sampling and geological mapping program is recommended to understand and expand on these initial results, and define which areas contain the highest lithium values.
Once the geological mapping and sampling phases have been completed, shallow core drilling (60–80 feet or 18 – 24 meters) has been recommended to provide a more in-depth understanding of the geology, lithium grades and thicknesses. Core drilling is also recommended for the rest of the Spartan claims and the Zeus claims, contingent upon the results of the surface sample analyses and geological mapping. Drill collar locations and the numbers of holes will be determined by the sampling and geological phases of the project.
“We are very encouraged by the initial sample analysis and will now move on to a more comprehensive exploration plan,” said Noram’s President, Mark Ireton.
The technical information contained in this news release has been reviewed and approved by Michael Collins, PGeo, who is a Qualified Person with respect to Noram’s Clayton Valley Claim Group Project as defined under National Instrument 43-101.
As a result of the positive indications from its 100% owned Clayton Valley lithium project, Noram has decided not to pursue the Alberta lithium brine project (see news release May 2, 2016) and wishes Canadian International Minerals much success in advancing the project.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM and Frankfurt: N7R) 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 the lithium projects in Clayton Valley in Nevada 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.
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.
ReleaseID: 440936
