PLANS PHASE III DRILLING, EXPANDS DRILL PROGRAM AT ZEUS PROPERTY TO 17 HOLES
Noram Ventures Inc. (NRM.V) Announced that after a highly successful Phase II drill program, the company plans to proceed with Phase III drilling once permits are in place.
Phase III Drill Program, Zeus Property, Clayton Valley, Nevada
The Company reported that it intends to expand the Phase III drill program which is designed to develop the existing resource. The company previously announced that 11 holes would be drilled to ~100 m depth to extend the mineralization to the south and the east of the current resource area. The Company has increased this to 17 holes drilled to this depth. Following this new drilling, it is expected that a new resource estimate will be determined, with a goal of completing an updated estimate by the end of Q1 2019.
Phase II Drill Program, Zeus Property, Clayton Valley, Nevada
The Phase II drill program comprised of new core from the deepening of 9 core drill holes within the area of Noram’s previously announced inferred resource of 17 million tonnes at a grade of 1060 ppm lithium (which equates to 96,476 metric tonnes of LCE). The complete technical report disclosing the resource is available under Noram’s profile on SEDAR.
The previous drilling on which the inferred resource was based reached an average depth of 14.3 meters. The 9 holes were deepened to an average depth of 82.2 meters, which is 5.75 times the previous average depth used in the resource estimate.
Data from the Phase II drilling were summarized in Table 1 of the news release dated August 13, 2018 and available through SEDAR. The mineralization remains open in all directions and at depth. The area of the deeper drilling has tested only a small fraction of the area covered by Noram’s claim holdings.
Based on the continued success of this area, the company has chosen to maximize value by focusing its efforts on the expansion of the existing resource. The company has maintained the entirety of the Zeus area including both placer and lode claims, while allowing the ancillary claims comprising the extensions to lapse. All three drill programs to date have been conducted on the Zeus Property which covers an area of approximately 3,000 acres in the Clayton Valley.
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist 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 / OTCBB: NRVTF) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium deposits and becoming a low - cost supplier for the burgeoning lithium battery industry. 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.
For further information, please visit: www.noramventures.com