Noram Lithium (TSX-V: NRM / OTCBB US: NRVTF / Frankfurt GR: N7R) is a junior mining exploration company, based in Vancouver; B.C. Noram’s principal focus is to acquire and advance lithium properties globally, with its flagship property located in Clayton Valley, Nevada.
Zeus Property, Clayton Valley
The Zeus property is approximately halfway between Las Vegas and Reno; and within two kilometers of Albemarle Corporation’s lithium brine producing operations (Silver Peak Mine). The property is comprised of 1,133 hectares which is the equivalent of 2,800 acres.
Following the Phase V drill program completed in Q1 2021, the Company embarked on a new resource estimate for the Zeus Property. An updated resource estimate was announced September 14, 2021, resulting in a substantial increase in the resource estimate. With a 400 ppm lithium cut-off grade, the Zeus deposit has 363 million tonnes at 923 ppm lithium measured+indicated resources, and 827 million tonnes lithium at 884 ppm lithium as inferred resources. The deposit occurs at or near surface. Preliminary extraction analyses using Rockworks 2021 indicate that the stripping ratio for the 400-ppm cut-off resource would be less than 0.2:1.
The Company is currently working towards a Preliminary Economic Assessment (PEA) to be completed by the end of 2021.