NORAM FILES TECHNICAL REPORT ON ITS LITHIUM BRINE/CLAY PROJECT IN CLAYTON VALLEY, NEVADA The report indicates an inferred resource of approximately 17 million metric tonnes at a grade of about 1,060 ppm Li over a 455,800 square meters of the core drilling program.
TSX-V: NRM
Frankfurt: N7R
OTCBB: NRVTF
FOR IMMEDIATE RELEASE
NORAM FILES TECHNICAL REPORT ON ITS LITHIUM
BRINE/CLAY PROJECT IN CLAYTON VALLEY,
NEVADA
The report indicates an inferred resource of approximately 17 million metric tonnes at a grade of about
1,060 ppm Li over a 455,800 square meters of the core drilling program.
Vancouver, B ritish Columbia – July 27th , 2017 – Noram Ventures Inc . (TSX -Venture: NRM /
Frankfurt: N7R / OTCBB: NRVTF) (“Noram” or the “Company”) is pleased to report that Bradley
Peek, MSc and Certified Professional Geologist has completed an update to its National Instrument 43-101
Technical Report on its Clayton Valley Lithium Brine/Clay Project. The Technical Report includes a
detailed review of the exploration work completed to date, an inferred resource estimate, interpretations and
conclusions, and recommendations for the next phases of work.
As was earlier announced, Noram drilled 46 shallow core holes into the lithium rich sediments that were
previously identified through surface sampling . The drill results have provided a basis for the definition of
an inferred lithium resource. The lithium assays from the drilling provided results that w ere quite
consistent over a reasonably large area of close -spaced drill holes. The model generated for the inferred
resource estimate indicated a zone of higher lithium grades trending northwest-southeast through the area of
the resource. The deposit remains open in several directions and at depth and the drilling only tested a very
small portion (113 acres) (46 hectares) of the area covered by the extensive (17,739 acre)(7,178 hectare)
claim holdings. There is considerable upside potential for increasing the size of the deposit.
The model that was generated from the close -spaced drilling was not constrained by the lithology, since the
lithology was very homogeneous and did not permit lithologic correlations between drill holes.
Information about the mining, processing or other economic criteria does not allow for the designation of a
clear cut-off grade for the deposit. These factors are to be determined by future testing and analysis. For
these reasons, the model was generated using various ranges of lithium grades which will serve as
guidelines as additional information becomes available to constrain the model. The model reports a
resource of approximately 17 million metric tonnes at a grade of about 1060 ppm Li . If additional
economic analyses indicate that the model requires further constraints, due to a wide variety of potentially
significant economic factors, the tonnage and grade could fluctuate accordingly.
The inferred mineral resour ce estimate is defined by the relatively shallow drilling depth, averaging 14.4
meters and a relatively large area extent of 455,800 square meters, determined by an area of close -spaced
drill holes. All of the holes within the inferred resource area botto med in mineralized sediments. Drill
holes outside the area of close -spaced drilling were determined to be too far afield to be of use for the
model. The resulting model derived from these parameters is a thin, pancake -like deposit. The close -
spaced drill holes have been defined as: CVZ -01 thru CVZ -24, CVZ-26 thru CVZ -28 and CVZ -30 and
CVZ-32, making a total of 29 core holes used in the model.
Table 1 - Comparison summary of Close-Spaced Holes to Total Drilling Program
Parameter Total Phase 1
Drill Program
Close-Spaced Holes
Noram Ventures Inc.
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Tel.: 778.775.1528 | Website: www.noramventures.com | email: [email protected]
Holes Included All Holes CVZ-01 thru CVZ -24 and CVZ -26 thru
CVZ-28 and CVZ-30 and CVZ-32
No. of Holes 46 29
Meters Drilled 652 415
Average Hole Depth (m) 14.3 14.4
No. of Samples 544 345
Weighted Average (PPM Li) 907.8 1059
Median (PPM Li) 910 1010
The data for the resource estimate was generated using inverse distance algorythms in the Rockworks 17
computer program. The model was constructed using voxels with dimensions of 20m X 20m h orizontally
by 2m vertically, reflecting the relatively thin vertical component of the deposit.
Bench scale testing by Membrane Development Specialties (MDS) has revealed that extraction of the
lithium from the sediments is feasible using a new membran e technology. Preliminary test results indicate
that the process may recover approximately 90% of the lithium with a processing cost of US$2000 ±25%
(not including mining costs) to recover at tonne of lithium carbonate and with the ability to recycle a major
portion of the acid and water used in the process. Testing is ongoing and is expected to result in a more
definitive statement about the test results in the near future.
Mark Ireton, President of Noram commented, “We are very pleased with the results of the Phase 1 drilling
and the initial inferred resource estimate. The area of the resource covers less than 1% of the total area
under claim, leaving huge upside potential for this exciting project.”
The Complete NI 43-101 Technical Report is available on SEDAR and on the Company’s web site at
www.noramventures.com.
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 Noram Ventures Inc.:
Noram Ventures Inc. (TSX -V: NRM 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 lithium projects in the Clayton Valley in Nevada, the Hector Lode in San Bernardino county,
California, the Arizaro East mineral claim located in the eastern portion of the Salar de Arizaro in north -
western Argentina and the Jumbo graphite property in Bri tish 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
Noram Ventures Inc.
Suite 304 – 700 West Pender Street, Vancouver, BC Canada V6C 1G8
Tel.: 778.775.1528 | Website: www.noramventures.com | email: [email protected]
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