Vancouver, British Columbia – August 13, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM / Frankfurt: N7R / OTCPINK: NRVTF) is pleased to provide the locations of provisional drill holes for a Fall drill program on the Zeus lithium claystone property.
The Fall drill program is designed to significantly expand the current resource size. From reconnaissance geological mapping and sampling, the favorable Esmeralda Formation claystone units are known to be present across the property, either at surface or under a thin veneer of alluvium. The current resource (>900 ppm cut-off) has a footprint of ~2.5 square kilometers, and the current drill program covers an additional ~2.5 square kilometers (see figure 1).
Figure 1. Proposed drill hole locations for Fall drilling on eastern half of Zeus lithium property, Clayton Valley, Nevada. Albemarle’s Silver Peak lithium evaporation ponds are immediately to the northwest, and Cypress Development’s Dean lithium claystone deposit lies to the southwest. The footprint of the proposed drill holes is nearly equal to that of the current resources (0.75 million tonnes LCE as indicated resources, and 0.43 million tonnes LCE as inferred resources: see 2020-02-05 Noram Ventures news release).
Noram’s management is encouraged by the increased level of lithium exploration and development in Clayton Valley in 2020. President C. Tucker Barrie comments: “At Noram, we look forward to expanding our Zeus lithium claystone deposit with this Fall drill campaign. We see our neighbor Cypress Development with a new and expanded resource estimate for their claystone project next door, after posting a Pre-Feasibility Study earlier this year. We note that Pure Energy Minerals is advancing their lithium brine project immediately south of Albemarle’s Silver Peak brine property. Clayton Valley has a sixty-year long history of producing lithium for the chemical and ceramics industries and now for the lithium ion battery and electric vehicle industries. We believe these projects have potential to continue this history of lithium production.”
The technical information contained in this news release has been reviewed and approved by C. Tucker Barrie, Ph.D., 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 / OTCPINK: 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/ “C. Tucker Barrie, Ph.D., P. Geo.”
President and CEO
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.