Noram Initial Drill Result Values Higher Than Current Inferred Resource ON ZEUS Property Clayton Valley, Nevada, USA
TSX.V: NRM
Frankfurt: N7R
OTCPINK: NRVTF
FOR IMMEDIATE RELEASE
NORAM INITIAL DRILL RESULT VALUES HIGHER THAN CURRENT INFERRED
RESOURCE ON ZEUS PROPERTY CLAYTON VALLEY, NEVADA, USA
Vancouver, British Columbia – January 15, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM
/ Frankfurt: N7R / OTCPINK: NRVTF ) is pleased to announce the results for three of six drill holes
completed during the November 2019 Phase IV drill program on the Zeus lithium claystone property.
The results for drill holes 47, 50 and 53 are given in table 1 below and shown in simplified drill logs in figure
2. Drill hole 47 returned results of 29 meters at 1164 ppm Li, and drill hole 53 showed 54.9 m at 1186 ppm
Li immediately below the 2019 -02 inferred resource. These values are higher than 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 - 47, 50, 53
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 - - pending
CVZ-50-RD 29.6 64.6 35.0 215 1080 513
CVZ-51-RD 22.9 119.5 96.6 - - pending
CVZ-52-RD 29.0 79.9 50.9 - - pending
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 - - pending
CVZ-50 3.0 64.6 61.6 215 1270 713
CVZ-51 0.6 119.5 118.9 - - pending
CVZ-52 0.0 79.9 79.9 - - pending
CVZ-53 2.9 107.3 104.4 438 2260 1072
Noram Ventures Inc.
Suite 2150 - 555 West Hastings Street, Vancouver, BC, Canada, V6B 4N6
Tel.: 604-553-2279 | Website: www.noramventures.com | email: [email protected]
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 equivalen t;
Peek and Barrie, 2019; see www.noramventures.com).
Noram Ventures Inc.
Suite 2150 - 555 West Hastings Street, Vancouver, BC, Canada, V6B 4N6
Tel.: 604-553-2279 | Website: www.noramventures.com | email: [email protected]
Figure 2a. Summary log for drill hole CVZ-47, with lithium values.
Noram Ventures Inc.
Suite 2150 - 555 West Hastings Street, Vancouver, BC, Canada, V6B 4N6
Tel.: 604-553-2279 | Website: www.noramventures.com | email: [email protected]
Figure 2b. Summary log for drill hole CVZ-50, with lithium values.
Figure 2c. Summary log for drill hle CVZ-53, with lithium values.
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 lithi um producer. The
lithium deposit is within the non-refractory claystones of the Esmeralda Formation, and has access to power,
groundwater and a capable work force. Nevada is recognized as one of the most favorable jurisdictions for
mineral extraction globally.
The Phase IV drill program was designed to test the Esmeralda Formation claystone beneath earlier drill
holes that extended only to ~30 meters depth (Figure 1). This program indicates that the favorable claystone
sub-units continue to depth, and are thicker and possibly higher grade to the southeast.
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.
Noram President and CEO C. Tucker Barrie comments: “Our immediate goal is to outline a viable lithium
resource that can support a mining operation that can produce 20,000 tonnes lithium carbonate per annum for
20+ years, to support the growing lithium battery and electric vehicle market. We are encouraged by these
Phase IV drill holes which will significantly increase our current resource. The deposit remains open to the
south and east on the property where there is >2 km2 of untested ground. As well, we note the success of our
Noram Ventures Inc.
Suite 2150 - 555 West Hastings Street, Vancouver, BC, Canada, V6B 4N6
Tel.: 604-553-2279 | Website: www.noramventures.com | email: [email protected]
neighbor Cypress Development Corp., which has a similar lithium claystone deposit and is making significant
advances with extraction technology. This bodes well for the development of our Zeus deposit.”
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 - Venture: NRM / Frankfurt: N7R / OTC PINK: 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 focus since formation has been the exploration of mineral projects.
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/ “C. Tucker Barrie, Ph.D., P. Geo.”
President and CEO
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, u ndue 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.