CVZ-67 Assays End at 502 FT (153 M) in LI Grade of 1220 PPM, Increasing with Depth
Noram Ventures Inc. announced assay results from its CVZ-67 drill hole, reaching a depth of 502 feet (153 m) in the Zeus Lithium Project located in Clayton Valley, Nevada. The hole exhibited promising lithium grades, with an average of 1000 ppm Li across a significant 220-foot (67.1 m) interval. Notably, the drill hole ended with a lithium grade of 1220 ppm Li, indicating an upward trend in lithium concentration with depth. These findings are expected to positively influence future resource calculations.
- 220 feet interval averaging 1000 ppm Li indicates strong lithium presence.
- Final grade at 1220 ppm Li shows increasing lithium concentration with depth.
- Positive implications for upcoming resource calculations.
- None.
VANCOUVER, BC / ACCESSWIRE / April 21, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSX - Venture:NRM / Frankfurt:N7R / OTCQB:NRVTF) is pleased to announce the assay results of CVZ-67, completed at a depth of 502 ft (153 m). The first 202 feet (61.6 m) were drilled through surface gravel before reaching the clay and mudstone units within the Esmeralda Formation. A 19-foot (5.8 m) thick section of brown sandy mudstone was intersected, followed by 11 feet (3.6 m) of tan claystone. From there on to the end of the hole, 232-502 feet (70.7-153 m), the hole penetrated the blue and blue-black clays that consistently carry the higher lithium grades. The interval from 282-502 feet (61.6-153.0) contained 220 feet (67.1 m) averaging 1000 ppm Li. As can be seen from the attached CVZ-67 strip log, the hole ended with a lithium grade of 1220 ppm Li and the grade appeared to be increasing with depth.
"This is another phenomenal drill hole that is bound to have a profound effect on the size and grade of the next resource calculation," states Brad Peek, MSc, CPG, and Qualified Person under NI 43-101 guidelines with regard to Noram Ventures' Zeus lithium clay deposit.
Figure 1a) Strip Log of CVZ-67 outlining the various claystone types encountered at depth from the surface to 502 ft (153 m)
1b) Zeus Property map showing a) location of current Indicated and Inferred resources at >900ppm Li cut-off; b) location of drill sites completed for the Phase V 2020/2021 program.
From (ft) | To (ft) | From (m) | To (m) | Rock Type |
0 | 202 | 0.0 | 61.6 | Surface Gravel |
202 | 221 | 61.6 | 67.4 | Brown Sandy Mudstone |
221 | 232 | 67.4 | 70.7 | Tan Claystone |
232 | 464 | 70.7 | 141.4 | Blue Claystone |
464 | 502 | 141.4 | 153.0 | Blue & Black Claystone |
Total Depth = 502 ft. | ||||
Table 1 - Summary of Figure 1a Strip Log, describing the lithologies of CVZ-67 from surface to depth of 502 ft (153 m).
Samples were sent to ALS Labs in North Vancouver. These lakebed sediments have shown very uniform lithologies and lithium grades over large areas of Clayton Valley.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, 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 / 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.
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FAQ
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