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Noram Ventures Inc (2)
Symbol NRM
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Close 2021-02-22 C$ 0.77
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Noram completes CVZ-67; mineralization below 400 ft

2021-02-23 02:52 ET - News Release

Ms. Anita Algie reports


Noram Ventures Inc. has completed CVZ-67, at a depth of 502 feet (153 metres), the deepest hole drilled to date, showing mineralization below 400 feet. An intersection of approximately 281 ft (85.6 m) of favourable claystones was evident, and drilling ended in blue claystone, which has been shown in past programs to host significant amounts of lithium. CVZ-67 was the farthest southeast hole that will be drilled in this phase 5 drilling program.

From (ft)        To (ft)    From (m)      To (m)                      Rock type

0                   202         0.0        61.6                  Surface gravel
202                 221        61.6        67.4            Brown sandy mudstone
221                 232        67.4        70.7                   Tan claystone
232                 464        70.7       141.4                  Blue claystone
464                 502       141.4       153.0        Blue and black claystone

Total depth equals 502 feet.                                    

The core hole passed through a probable fault zone around 310 feet (94.5 m). The angle of the bedding in the core changed below that point and was tilted at angles varying from 10 degrees to 25 degrees for the rest of the hole. The tilting should not have affected the grade of the lithium mineralization but indicates that the drill hole passed into a fault block that is somewhat tilted in relation to nearby blocks. Block faulting is a normal occurrence in the basin and range physiographic province of the western United States.

"This is another important drill hole for Noram. It is the deepest drilled to date with visually favourable claystones apparent at the bottom. We were very pleased to see this and expect the results to be consistent based upon the yield of these claystones from prior drilling. The company has not previously drilled in this area, nor at these depths. Consequently, the results will significantly impact the resource modelling. From visual inspection alone, it appears that CVZ-67 once again confirms our theories on both the dip and direction of the resource," commented Brad Peek, consulting geologist and qualified person for all drilling phases of Noram's Zeus lithium property.

Samples were sent to ALS Labs in North Vancouver on a rush basis, and assays are pending. These lake bed sediments have shown very uniform lithologies and lithium grades over large areas of Clayton Valley.

The technical information contained in this news release has been reviewed and approved by Brad Peek, MSc, 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 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 in Clayton Valley, Nevada. The Zeus project has a current resource estimate of 124 million tonnes at 1,136 parts per million lithium as indicated resources, and 77 million tonnes lithium at 1,045 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 multinational lithium mineral company to produce and sell lithium into the markets of Europe, North America and Asia.

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