Noram Lithium Corp. (TSX - Venture: NRM / OTCQB: NRVTF / Frankfurt: N7R) is a well financed (>$17M in cash) Canadian based junior exploration and development company focused on advancing its Zeus Lithium Project to production in Nevada. The Company’s high-grade Zeus Lithium Project (“Zeus”) in Clayton Valley, Nevada has an updated NI 43-101 Technical Report highlighting a resource estimate (September 2021) of 363 million tonnes at 923 ppm lithium Measured & Indicated resources, and 827 million tonnes at 884 ppm lithium Inferred resources (400 ppm Li cut-off) and a completed a Preliminary Economic Assessment (December 2021).
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 completed a Preliminary Economic Assessment (PEA) in December 2021.