Noram Successfully Extends ZEUS Lithium Deposit with Final Phase Iv Drill Results
TSX.V: NRM
Frankfurt: N7R
OTCPINK: NRVTF
FOR IMMEDIATE RELEASE
NORAM SUCCESSFULLY EXTENDS ZEUS LITHIUM DEPOSIT
WITH FINAL PHASE IV DRILL RESULTS
Vancouver, British Columbia – January 29, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture:
NRM / Frankfurt: N7R / OTCPINK: NRVTF) is pleased to announce the results for three remaining drill
holes completed in the November 2019 Phase IV drill program on the Zeus lithium claystone property and
the extension of 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.
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-48, 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-51, with lithium values.
Figure 2c. Summary log for drill hle 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 km2 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 de signed to test the Esmeralda 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.
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]
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 includ e, 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.