Clayton Valley On The Radar Noram Receives Initial Assay Results For Upper Portion Of CVZ-62: High Of 1900 PPM & Average Of 1049 PPM Over 90ft (27 M)
Vancouver, British Columbia – December 22, 2020 – Noram Ventures Inc. (“Noram” or the “Company”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to highlight the recent confirmation by Tesla to move its headquarters and future programs to Texas/Nevada immediately. “That, coupled with the very favourable research report by Couloir Capital (https://bit.ly/2J5vV2y) on Noram’s neighbours, Cypress Development Corp., has successfully brought even more attention to size and extent of the economic potential of the area. Noram is perfectly positioned to benefit from the move of this green energy revolution giant into our backyard” stated Anita Algie, CFO and Director.
Noram has also received the initial assay results for drill hole CVZ-62 (shown below). A total of 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. 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”, Figure 1 below – area highlighted in red) after the completion of the prior 4 phases of drilling.
“The highly prospective clays continue for at least another 207 ft (63 m) below the first 227 ft (69 m) assayed. We anticipate a much greater total thickness of higher-grade mineralization upon receipt of the second set of assays,” commented Brad Peek, consulting geologist and Qualified Person for this and all 4 of the previous drilling phases of Noram’s Zeus lithium property.
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 |
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, North 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.