Vancouver, British Columbia – November 17, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce the completion of Hole #1 (CVZ-61) at a depth of approximately 417ft (127m) and with an intersection of approximately 297ft (91m). CVZ-61 was drilled on the southeast side of the northeast-trending fault in a previously unexplored area. At this point it is unclear whether the SE side of the fault has been raised or lowered in relation to the NW side. “Noram specifically designed this program to sizably expand the area of exploration and better delineate the resource area. The Company will use these data for feasibility studies in the near future,” stated President and CEO, Dr. C. Tucker Barrie.
Image 1 – a portion of the over 297ft of lithium-hosted clays from CVZ-61. Greenish-blue clays typically indicating higher levels of lithium.
Figure 1 – Phase V Drill Program (shown left) and CVZ-61/Hole #1 highlighted in yellow (F) in previously undrilled area of the Zeus Property. CVZ-61 intersected one of the thickest sections of claystone to date. Phase IV Drill Program (shown right) and the most proximal hole to CVZ-61 highlighted in yellow (CVZ-53) for reference.
The diagram above compares drill hole CVZ-61 to nearby drill hole CVZ-53 which is located ~350 meters to the north. A histogram of the lithium grades (shown in ppm) is illustrated in dark blue for CVZ-53 to the right of the stratigraphic column. Assays are not yet available for CVZ-61 but are to be processed on a “rush” basis at ALS Laboratories in Reno, Nevada. The layers in the diagram shown in blue, light green and purple are the beds of claystone which have been shown in past drill holes to contain high lithium grades.
“I am very pleased with the results of core hole CVZ-61. It was drilled in an area with no previous drilling data and intersected one of the thickest sections of claystone seen in Noram’s drilling to date. This hole bodes well for the remaining holes in this Phase V drilling program in which all holes are expected to add significantly to the property’s lithium resource”, states Brad Peek, consulting geologist and Qualified Person for this and all 4 of the previous drilling phases of Noram’s Zeus lithium property.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., P. Geo., 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 focus since formation has been the exploration of mineral projects. 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.