Noram Ventures and Alba Minerals NI 43-101 Reported Inferred Mineral Resource of 96,476 Metric Tonnes Lithium Carbonate Equivalent in Nevada - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2017) - Noram Ventures (TSXV: NRM) (FSE: N7R) (OTC Pink: NRVTF) along with its joint venture partner Alba Minerals (TSXV: AA) (FSE: A117RU) (OTC Pink: AXVEF) recently filed a NI 43-101 Technical Report on their Clayton Valley lithium properties in Nevada. The report, which is available on the Noram's website, includes a detailed review of the exploration work completed to date, an inferred resource estimate, and recommendations for the next phases of work.
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The properties, which covers approximately 13,000 acres, are located within 1 mile of Albemarle Corporation's lithium brine operations. Albemarle, the only lithium producer in the United States, has been producing lithium from deep wells from the basin beneath the Clayton Valley, continuously since 1967.
Just south of Albemarle's Silver Peak operation, and to the west of Noram's Spartan Group claims, lies Pure Energy (TSXV:PE) with a NI 43-101 Inferred Resource of 218,000 metric tonnes of lithium carbonate equivalent. And to the north is Tesla's Gigafactory. Tesla, with a planned production rate of 500,000 cars per year in the latter half of this decade, is expected to alone use today's entire worldwide production of lithium ion batteries.
Noram's drilling of 46 shallow core holes into the lithium-rich sediments, previously identified through surface sampling has provided a basis for the definition of an inferred lithium resource. The lithium assays from the drilling provided results that were quite consistent over a reasonably large area of closely-spaced drill holes. The deposit remains open in all directions and at depth, with the drilling testing less than 1% of the extensive area.
The report identified an Inferred Mineral Resource of approximately 17 million metric tonnes at a grade of about 1,060 parts per million lithium, which equates to 96,476 metric tonnes of lithium carbonate equivalent.
The report recommends a second phase of shallow core drilling, at an estimated cost of US$90,000, and a concurrent pilot-scale test by Membrane Development Specialists to further demonstrate the extractability of lithium from the clays, with a budget estimated at US$480,000.
The company has a second lithium property, the 2,700 hectare Arizaro East lithium brine /clay prospect, which is largely underexplored despite being situated in the "Lithium Triangle" of Argentina. To help fulfill the company's long term strategy of becoming a low-cost supplier for the growing lithium-ion battery industry, it also has the 15,000 hectare Jumbo Graphite Property in British Columbia.
For more information please visit the company's website www.noramventures.com, or contact Mark Ireton, President, at 604-761-9994 or email mark@noramventures.com.
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