Noram Receives Assay Results for Lower Portion of CVZ-62: High of 1900ppm & Average of 1113ppm Li over 290ft (88m)
Vancouver, British Columbia – January 28, 2021 – Noram Ventures Inc. (“Noram” or the “Company”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce that the Company has received the second half of the results for CVZ-62. Noram had previously received the assay results for the upper portion of drill hole CVZ-62. The 26 samples were rushed to ALS Global Laboratories of North Vancouver, B.C taken from the first 227 ft (69 m) drilled. From 137 ft (42 m) to 227 ft (69 m) (an intersection of 90 ft or 27 m), the samples contained an average of 1049 ppm lithium.
With the receipt of the results from the lower portion of CVZ-62, Noram has been able to conclude that a total intersection of 290 ft (88M) was drilled with an average of 1113 ppm lithium.
“This is one of the longer intervals of claystones to date and will contribute significantly to the resource calculation. We are exceptionally pleased with these results” commented Brad Peek, consulting geologist and Qualified Person for this and all 4 of the previous drilling phases of Noram’s Zeus lithium property.
This average is consistent with Noram’s 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”, area shown in red below) after the completion of the prior 4 phases of drilling.
The summary of assay results is as follows:
Hole ID
Sample No.
From (ft)
To (ft)
Depth to Top
Depth to Base
Recvd Wt. (Kg)
Li (ppm)
CVZ-62
1710144
13
17
3.96
5.18
0.54
630
CVZ-62
1710145
17
27
5.18
8.23
2.2
620
CVZ-62
1710146
27
37
8.23
11.28
1.62
500
CVZ-62
1710147
37
47
11.28
14.33
2.38
580
CVZ-62
1710148
47
57
14.33
17.37
2.66
362
CVZ-62
1710149
57
67
17.37
20.42
2.06
423
CVZ-62
1710150
67
77
20.42
23.47
2.92
550
CVZ-62
1710151
77
87
23.47
26.52
2.98
500
CVZ-62
1710152
87
97
26.52
29.57
2.94
810
CVZ-62
1710153
97
107
29.57
32.61
2.52
640
CVZ-62
1710154
107
117
32.61
35.66
2.94
790
CVZ-62
1710155
117
127
35.66
38.71
2.32
570
CVZ-62
1710156
127
137
38.71
41.76
3.02
770
CVZ-62
1710157
137
147
41.76
44.81
2.54
1210
CVZ-62
1710158
147
157
44.81
47.85
3.02
820
CVZ-62
1710159
157
167
47.85
50.90
3.08
930
CVZ-62
1710160
167
177
50.90
53.95
2.64
710
CVZ-62
1710162
177
187
53.95
57.00
2.24
930
CVZ-62
1710163
187
197
57.00
60.05
3.46
810
CVZ-62
1710164
197
207
60.05
63.09
3.34
1900
CVZ-62
1710165
207
217
63.09
66.14
3.38
1010
CVZ-62
1710166
217
227
66.14
69.19
2.72
1120
CVZ-62
1710170
227
237
69.2
72.2
3.00
950
CVZ-62
1710171
237
247
72.2
75.3
1.56
1030
CVZ-62
1710172
247
257
75.3
78.3
3.02
1390
CVZ-62
1710173
257
267
78.3
81.4
3.30
1180
CVZ-62
1710174
267
277
81.4
84.4
3.20
1170
CVZ-62
1710175
277
287
84.4
87.5
1.98
1430
CVZ-62
1710176
287
297
87.5
90.5
3.06
1350
CVZ-62
1710177
297
307
90.5
93.6
3.16
1190
CVZ-62
1710178
307
317
93.6
96.6
1.88
1170
CVZ-62
1710179
317
327
96.6
99.7
1.46
1510
CVZ-62
1710180
327
337
99.7
102.7
2.72
940
CVZ-62
1710181
337
347
102.7
105.8
2.68
1250
CVZ-62
1710182
347
357
105.8
108.8
2.98
910
CVZ-62
1710183
357
367
108.8
111.9
2.32
810
CVZ-62
1710184
367
377
111.9
114.9
2.46
1040
CVZ-62
1710185
377
387
114.9
118.0
2.02
1130
CVZ-62
1710186
387
397
118.0
121.0
1.20
1110
CVZ-62
1710187
397
407
121.0
124.1
2.94
1050
CVZ-62
1710188
407
417
124.1
127.1
3.58
1070
CVZ-62
1710189
417
427
127.1
130.1
2.80
1170
CVZ-62
1710190
427
437
130.1
133.2
2.52
780
CVZ-62
1710191
437
447
133.2
136.2
2.86
750
CVZ-62
1710192
447
457
136.2
139.3
2.60
770
CVZ-62
1710193
457
467
139.3
142.3
2.60
760
CVZ-62
1710194
467
477
142.3
145.4
2.54
790
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 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 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.