NNoram Receives Assay Results for CVZ-61 With High of 1860ppm: 260ft (79m) of 1130ppm From 107ft (32m) to 367ft (112m)
Vancouver, British Columbia – December 15 2020 – Noram Ventures Inc. (“Noram” or the “Company”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce that the Company has received the assay results for drill hole CVZ-61 (shown below). Approximately 298ft (91m) of lithium claystone was intersected, of which, 260 ft (79m) ran an average of 1130ppm. This average is consistent with Noram’s 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”) after the completion of the prior 4 phases of drilling.
“The completion of thick high-grade lithium claystone intersections such as CVZ-61 confirm our belief that the resource extends to the south beyond the currently defined resource area. These results will add substantially to the resource estimate and we anticipate the results for CVZ-62 and CVZ-63 to do the same” commented Brad Peek, consulting geologist and Qualified Person for this and all 4 of the previous drilling phases of Noram’s Zeus lithium property.
Figure 1. Zeus Property map showing a) location of current Indicated and Inferred resources at >900ppm Li cut-off; b) location of drill sites completed or in progress (seen in green) to date for the Phase V 2020 program. Proposed drill sites not yet explored indicated in white.
The summary of assay results is as follows:
Hole ID
Sample No.
From (ft)
To (ft)
Depth to Top (m)
Depth to Base (m)
Recvd Wt. (Kg)
Li (ppm)
CVZ-61
1710101
17
27
5.2
8.2
2.22
540
CVZ-61
1710102
27
37
8.2
11.3
2.32
570
CVZ-61
1710103
37
47
11.3
14.3
2.48
640
CVZ-61
1710104
47
57
14.3
17.4
2.89
730
CVZ-61
1710105
57
67
17.4
20.4
2.89
870
CVZ-61
1710106
67
77
20.4
23.5
0.18
680
CVZ-61
1710107
77
87
23.5
26.5
2.41
680
CVZ-61
1710108
87
97
26.5
29.6
2.74
620
CVZ-61
No Sample
97
107
29.6
32.6
CVZ-61
1710109
107
117
32.6
35.7
1.59
970
CVZ-61
1710110
117
127
35.7
38.7
2.5
900
CVZ-61
1710111
127
137
38.7
41.8
1.18
790
CVZ-61
1710112
137
147
41.8
44.8
3.11
920
CVZ-61
1710113
147
157
44.8
47.9
2.83
1860
CVZ-61
1710114
157
167
47.9
50.9
2.63
1140
CVZ-61
1710115
167
177
50.9
53.9
2.37
920
CVZ-61
1710116
177
187
53.9
57.0
2.88
1230
CVZ-61
1710117
187
197
57.0
60.0
0.89
820
CVZ-61
1710118
197
207
60.0
63.1
2.79
1180
CVZ-61
1710120
207
217
63.1
66.1
3.42
1480
CVZ-61
1710121
217
227
66.1
69.2
1.24
1650
CVZ-61
1710122
227
237
69.2
72.2
3.41
1360
CVZ-61
1710123
237
247
72.2
75.3
3.05
1440
CVZ-61
1710124
247
257
75.3
78.3
3.69
1260
CVZ-61
1710125
257
267
78.3
81.4
1.73
1120
CVZ-61
1710126
267
277
81.4
84.4
2.87
1240
CVZ-61
1710127
277
287
84.4
87.5
2.18
970
CVZ-61
1710128
287
297
87.5
90.5
3.36
1060
CVZ-61
1710129
297
307
90.5
93.6
1.59
930
CVZ-61
1710130
307
317
93.6
96.6
3.32
990
CVZ-61
1710131
317
327
96.6
99.7
3.16
940
CVZ-61
1710132
327
337
99.7
102.7
2.12
1180
CVZ-61
1710133
337
347
102.7
105.8
1.87
940
CVZ-61
1710134
347
357
105.8
108.8
2.91
1150
CVZ-61
1710135
357
367
108.8
111.9
2.8
940
CVZ-61
1710136
367
377
111.9
114.9
2.32
860
CVZ-61
1710137
377
387
114.9
118.0
3.05
750
CVZ-61
1710138
387
397
118.0
121.0
3.31
720
CVZ-61
1710139
397
407
121.0
124.1
3.05
760
CVZ-61
1710140
407
417
124.1
127.1
3.01
760
The samples were analyzed by ALS Global Laboratories, Vancouver, B.C. using the ME-MS61 method, which includes a four-acid digestion. The samples were accompanied by 4 QA/QC sample standards, all of which returned results within their respective normal ranges.
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.