Phase V Drill Program Concluded with Best Assay Results to Date
Noram Ventures Inc. (TSXV:NRM, OTCQB:NRVTF) announced success in its Phase V drilling program at the Zeus property. Core hole CVZ-68 yielded remarkable assay results, featuring 398 feet of lithium mineralization at an average grade of 1018 ppm Li. Notably, a section of 250 feet averaged 1151 ppm Li. The findings will contribute to an updated NI 43-101 compliant resource calculation expected soon. Noram aims to develop lithium deposits, with a current resource estimate of 124 million tonnes at 1136 ppm lithium.
- Best assay results from Phase V drilling at Zeus property.
- Core hole CVZ-68 revealed 398 feet of lithium mineralization at 1018 ppm Li.
- Specific interval of 250 feet averaged 1151 ppm Li.
- Upcoming updated resource calculation will include Phase IV and V drilling results.
- Current resource estimate: 124 million tonnes at 1136 ppm lithium.
- None.
VANCOUVER, BC / ACCESSWIRE / April 23, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSXV:NRM)(Frankfurt:N7R)(OTCQB:NRVTF) is pleased to announce the results from core hole CVZ-68 are the final assay results from Noram Ventures' Phase V drilling program. The hole provided what is believed to be the best assay results for the Zeus property to date. It contained 398 feet (121.0 m) from 109-506 feet (33.2-154.2 m) at an average grade of 1018 ppm Li. This interval included 250 ft (76.2 m) from 216-466 ft (65.8-142.0 m) with an average of 1151 ppm Li.
Figure 1a) Strip Log of CVZ-68 outlining the various claystone types encountered at depth from the surface to 506 ft (154.2 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
CVZ-68 was drilled to a total depth of 506 ft (154.2 m). It passed through 125 ft (38.1 m) of alluvial gravel before entering the Tertiary Esmeralda Formation. It then drilled through the following rock types:
125-164 ft (38.1-50.0 m) - Brown Sandy Mudstone
164-188 ft (50.0-57.3 m) - Tan Claystone
188-256 ft (57.3-78.0 m) - Blue Claystone
256-386 ft (78.0-117.7 m) - Mixed Black and Blue Claystone
386-414 ft (117.7-126.2 m) - Blue Claystone
414-494 ft (126.2-150.6 m) - Olive Claystone
494-506 ft (150.6-154.2 m) - Mixed Brown and Olive Claystone
"This was a phenomenal hole and a fitting end to our very successful Phase V drilling program. An updated NI 43-101 compliant resource calculation which adds in the Phase IV and V drill holes is being prepared and should be available during the next few weeks." states Brad Peek, MSc, CPG, and Qualified Person under NI 43-101 guidelines with regard to Noram Ventures' Zeus lithium clay deposit.
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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https://www.accesswire.com/641887/Phase-V-Drill-Program-Concluded-with-Best-Assay-Results-to-Date
FAQ
What are the latest assay results from Noram Ventures' CVZ-68 drill hole?
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