Noram Completes CVZ-63: 120 ft (36.6m) of Mineralization With an Average of 1121ppm & High-Grade Mineralization Starting Almost at Surface

2021-02-02 / @accesswire

 

VANCOUVER, BC / ACCESSWIRE / February 2, 2021 / Noram Ventures Inc. ("Noram" or the "Company") (TSXV:NRM)(FSE:N7R)(OTCQB:NRVTF) is pleased to announce the completion of CVZ-63 at a depth of 322 ft (98.1 m). Mineralization was intersected at only 22 ft (6.7 m) below surface. This is the most superficial (near surface mineralization) intersection Noram has drilled to date during the Phase V drilling campaign.

"CVZ-63 has a thinner section of good lithium grades since it is on the eastern edge of the basin, but it is interesting to note that the high-grade mineralization starts almost at surface. This result is very significant for our resource model, as it also shows that the higher-grade lithium mineralization also extends to the margin of the basin. The tan mudstone/claystone present in CVZ-63 is apparently equivalent to the olive mudstone/claystone seen in other parts of the project and is also equivalent in lithium grade" 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 intersection of 120 ft (36.6 m) of high grade (1121 ppm Li) mineralization between 22 ft and 142 ft (6.7m-43.3m) is considered to be a very significant addition to the project's resource base.

Figure 1a) Strip Log of CVZ-63 outlining the various claystone types encountered at depth from the surface to 322 ft (98.1m)
b) 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 2020/2021 program. Proposed drill sites not yet explored indicated in white.

From (m)

To (m)

Lithology

0

6.7

Surface Gravel

6.7

28.0

Tan Mudstone

28.0

39.3

Blue-Black Mudstone

39.3

54.9

Blue Mudstone

54.9

58.5

Sandy Blue Mudstone

58.5

62.2

Blue Claystone/Mudstone

62.2

65.5

Sandy Blue Mudstone

65.5

71.9

Blue Mudstone

71.9

98.1

Lower Brown Mudstone


Table 1 - Summary of Figure 1a Strip Log, describing the lithologies of CVZ-63 from surface to depth of 462ft.

Hole ID

Sample No.

From (ft)

To (ft)

Depth to Top

Depth to Base

Li (ppm)

CVZ-63

1710195

22

32

6.7

9.8

1010

CVZ-63

1710196

32

42

9.8

12.8

1090

CVZ-63

1710197

42

52

12.8

15.8

1450

CVZ-63

1710198

52

62

15.8

18.9

1840

CVZ-63

1710199

62

72

18.9

21.9

1320

CVZ-63

1710200

72

82

21.9

25.0

530

CVZ-63

1710201

82

92

25.0

28.0

740

CVZ-63

1710202

92

102

28.0

31.1

1480

CVZ-63

1710203

102

112

31.1

34.1

1120

CVZ-63

1710204

112

122

34.1

37.2

1010

CVZ-63

1710205

122

132

37.2

40.2

840

CVZ-63

1710206

132

142

40.2

43.3

1020

CVZ-63

1710207

142

152

43.3

46.3

860

CVZ-63

1710208

152

162

46.3

49.4

790

CVZ-63

1710209

162

172

49.4

52.4

680

CVZ-63

1710211

172

182

52.4

55.5

580

CVZ-63

1710212

182

192

55.5

58.5

530

CVZ-63

1710213

192

202

58.5

61.6

930

CVZ-63

1710214

202

212

61.6

64.6

870

CVZ-63

1710215

212

222

64.6

67.7

460

CVZ-63

1710216

222

232

67.7

70.7

580

CVZ-63

1710217

232

242

70.7

73.8

500

CVZ-63

1710218

242

252

73.8

76.8

470

CVZ-63

1710219

252

262

76.8

79.9

640

CVZ-63

1710220

262

272

79.9

82.9

490

CVZ-63

1710221

272

282

82.9

86.0

404

CVZ-63

1710222

282

292

86.0

89.0

386

CVZ-63

1710223

292

302

89.0

92.0

398

CVZ-63

1710224

302

312

92.0

95.1

337

CVZ-63

1710225

312

322

95.1

98.1

288


Table 2 - Summary of assays for CVZ-63

Samples were sent to ALS Labs in North Vancouver on a rush basis and assays are displayed in graphical form on the strip log. These lakebed sediments have shown very uniform lithologies and lithium grades over large areas of Clayton Valley.

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. (TSXV:NRM)(FSE: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 Resource, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resource (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.

SOURCE: Noram Ventures Inc.



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