Alba Reports ON Successful Investment IN Noram: Noram Extends ZEUS Lithium Deposit with Final Phase Iv Drill Results
FOR IMMEDIATE RELEASE
ALBA REPORTS ON SUCCESSFUL INVESTMENT IN NORAM:
NORAM EXTENDS ZEUS LITHIUM DEPOSIT
WITH FINAL PHASE IV DRILL RESULTS
Vancouver, British Columbia – January 30, 2020 – Alba Minerals Ltd. (“Alba” or the “Company”) (CSE: AA;
AXVEF:US; Frankfurt: A117RU) is pleased to update shareholders on its 8.9% interest in Noram Ventures
Inc. (“Noram”) and the drill results for three remaining drill holes completed in the November 2019 Phase
IV drill program on the Zeus lithium claystone property which will extend the Zeus Lithium Deposit. The
first three drill holes of this program were reported in a news release dated January 15, 2020.
Results for drill holes 48, 51 and 52 are reported in Table 1 below and shown in simplified drill logs in Figure
2. Drill hole 51 resulted in 56.4 meters with an average of 1230 ppm Li, and drill hole 52 has 39.6 m at 1060
ppm Li immediately below the 2019-02 inferred resource. These values are expected to add significantly to
the current inferred resource of 145 million tonnes at 1145 ppm Li (900 ppm cutoff: Peek and Barrie, 2019,
see www.noramventures.com).
Table 1
Phase IV Drilling Results for 48, 51, 52*
Deepened Portions of Holes (New Drilling)
Minimum Maximum Weighted
From To Interval Li Li Average Li
Core Hole (m) (m) (m) (ppm) (ppm) (ppm)
CVZ-47-RD 29.6 101.2 71.6 570 1750 1004
CVZ-48-RD 29.6 49.4 19.8 192 1260 528
CVZ-50-RD 29.6 64.6 35.0 215 1080 513
CVZ-51-RD 22.9 119.5 96.6 550 2730 1074
CVZ-52-RD 29.0 79.9 50.9 490 1720 968
CVZ-53-RD 29.6 107.3 77.7 438 2040 1070
Entire Holes
Minimum Maximum Weighted
From To Interval Li Li Average Li
Core Hole (m) (m) (m) (ppm) (ppm) (ppm)
CVZ-47 4.6 101.2 96.6 570 1750 1020
CVZ-48 0.0 49.4 49.4 192 1510 791
CVZ-50 3.0 64.6 61.6 215 1270 713
CVZ-51 0.6 119.5 118.9 550 2730 1039
CVZ-52 0.0 79.9 79.9 490 1720 996
CVZ-53 2.9 107.3 104.4 438 2260 1072
*New data for drill holes 48, 51 and 52 in bold; other drill hole data reported
in news release of 2020-01-15.
CSE: AA
OTC: AXVEF
Frankfurt: A117RU
Figure 1. Google Earth image of Zeus lithium property, Clayton Valley, Nevada, adjacent to Albemarle’s
lithium brine operations to west (see evaporation pond to upper left). The Esmeralda Formation lithium
claystone is under a thin (0 -5 m-thick) veneer of alluvium shed off of high hills to the east. The contours
represent the 300 ppm, 600 ppm and 900 ppm cutoff lines for the NI43 -101 resource estimate which
included 145 million tonnes @1145 ppm Li (900 ppm cut -off, = 0.88 million tonnes lithium carbonate
equivalent (Peek and Barrie, 2019; see www.noramventures.com).
Figure 2a. Summary log for drill hole CVZ-48, with lithium values.
Figure 2b. Summary log for drill hole CVZ-51, with lithium values.
Figure 2c. Summary log for drill hole CVZ-52, with lithium values.
Noram President and CEO C. Tucker Barrie comments: “ These three drill holes will add significantly to our
current inferred resources, and they verify that the deposit thickens and increases in grade to the south and
east, where where there is >2 km 2 of untested ground on the property. In the near future, we will have a
new resource calculation and NI43 -101 report for this deposit. We aim to further define this very large
lithium resource with more deep drilling, and to initiate engineering studies to determine the most effective
recovery methods. ”
Noram’s Zeus lithium property is located in Clayton Valley, Nevada, immediately adjacent and to the east
of Albemarle’s Silver Peak lithium brine operations, currently North America’s only lithium producer. The
Phase IV drill program was designed to test the Esm eralda Formation claystone beneath earlier drill holes
that extended only to ~30 meters depth (Figure 1).
The Phase IV drill program followed NI 43-101 procedures for sample preparation, analyses and security as
described in Peek and Barrie (2019). All samples were sent to ISO -17025 accredited ALS Laboratories in
Reno, Nevada for analysis. Each sample was then analyzed using ALS’ ME -MS61 analytical method which
uses a Four Acid Digestion and MS-ICP technologies.
The technical information contained in this news release has been reviewed and approved by Bradley C.
Peek, MSc and Certified Professional Geologist who is a Qualified Person with respect to Noram’s Clayton
Valley Lithium Project as defined under National Instrument 43-101.
About Alba Minerals Ltd.
Alba Minerals Ltd. is a Vancouver-based junior resource company with projects in North and South America. Alba is focused on the development of
the following mineral properties:
The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta,
Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy
Minerals Ltd.’s Pocitos Prospects.
The Chascha Norte property consists of 2,843 hectares of prospective lithium exploration in the Southeastern part of the Salar de Arizaro,
Salta, Argentina in closest vicinity to Argentina Lithium & Energy Corporation’s and Lithium X’s Arizaro lithium brine projects.
The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the
Washoe County Nevada.
Please visit our web site for further information: www.albamineralsltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Sandy MacDougall”
Chairman & Director
Phone: (604) 662-7902
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without
limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors
that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking st atements; the uncertainty of future profitability; and the uncertainty of
access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward -looking
information. Actual results and future events could differ materially from anticipated in such information. These and all subseq uent written and oral forward - looking information are based on
estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information
should circumstance or management’s estimates or opinions change.
Neither the Canadian Securities Exchange (“CSE”) nor its Regu lation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accu racy of this
release.