Noram Receives Results for CVZ-66: High of 1540 ppm Intersection of 220ft (67.1 m) Averaging 1124 ppm of Lithium
Vancouver, British Columbia - March 2, 2021 - Noram Ventures Inc. (“Noram” or the “Company”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce the successful completion of CVZ-66. The Company completed core hole CVZ-66 at a depth of 462 feet (140.8 m). An interval thickness of 220 ft (67.1 m) was intersected from 212 ft (64.6 m) to 432 ft (131.7 m).
“We are incredibly proud of our progress to date and in particular this phase of drilling. The current resource has been expanded exponentially by successfully drilling previously unexplored areas of the Zeus Property to depths of 500 ft and still ending in mineralization. As far as we are aware, these are some of the deepest and thickest high grade intersections encountered in Clayton Valley” comments Anita Algie, CFO and Director.
Figure 1a) Strip Log of CVZ-66 outlining the various claystone types encountered at depth from the surface to 432 ft (140.8 m) b) 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.
Bore
Sample No.
From (ft)
To (ft)
Li (ppm)
CVZ-66
1710311
142
152
670
CVZ-66
1710313
152
162
710
CVZ-66
1710314
162
172
810
CVZ-66
1710315
172
182
800
CVZ-66
1710316
182
192
760
CVZ-66
1710317
192
202
800
CVZ-66
1710319
202
212
700
CVZ-66
1710320
212
222
1120
CVZ-66
1710322
222
232
960
CVZ-66
1710323
232
242
900
CVZ-66
1710324
242
252
860
CVZ-66
1710325
252
262
1540
CVZ-66
1710326
262
272
1320
CVZ-66
1710327
272
282
1250
CVZ-66
1710328
282
292
1460
CVZ-66
1710329
292
302
1500
CVZ-66
1710330
302
312
1360
CVZ-66
1710331
312
322
1250
CVZ-66
1710332
322
332
1200
CVZ-66
1710333
332
342
1160
CVZ-66
1710334
342
352
1110
CVZ-66
1710335
352
362
1100
CVZ-66
1710336
362
372
1010
CVZ-66
1710338
372
382
910
CVZ-66
1710339
382
392
940
CVZ-66
1710340
392
402
990
CVZ-66
1710341
402
412
940
CVZ-66
1710342
412
422
830
CVZ-66
1710343
422
432
1020
CVZ-66
1710345
432
442
750
CVZ-66
1710346
442
452
580
CVZ-66
1710347
452
462
700
Table 1 - Summary of sample results from CVZ-66 from surface to depth of 462 ft.
“I am very encouraged by the consistent thickness and grade of the claystones encountered in our Phase V drilling. While the color of the claystones may vary, the high lithium grades have been constant thus far and each drill hole is adding tens of millions of tons to Noram’s next resource estimate”, comments Brad Peek, consulting geologist on all five phases of Noram’s Clayton Valley exploration drilling.
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 Resource, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resource (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.