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Noram Ventures Announces Results of the Phase III Core Drilling Program on its Zeus Lithium Project, Clayton Valley, Nevada, USA

29.01.2019  |  Accesswire

VANCOUVER, January 29, 2019 - Noram Ventures Inc. ("Noram") (TSX -Venture: NRM / Frankfurt: N7R / OTC PINK: NRVTF has completed the drilling of 15 core holes in ClaytonValley for its Phase III drilling program.All but three holes reached their targeted depth of 100 feet (30.5meters). The average hole depth was 29.2meters, and a total of 437.4 meters were drilled. The holes were limited to depths of 30.5meters with the idea of deepening the more encouraging ones at a laterdate. Preliminary indications are thatthe the favorable lithium clay horizon continues to the northwest and south ofthe previously drilled areas (see figure 1 below), and that Noram will want todeepen most of the Phase III holes.Initial results of the drill hole assays are given in Table 1.

TABLE 1

PHASE III DRILLING HIGHLIGHTS

From

To

Interval

Interval

Li

Drill Hole

(ft)

(ft)

(ft)

(m)

(ppm)

CVZ-45

0

100

100

30.5

1104

CVZ-47

15

100

85

25.9

1092

CVZ-48

0

80

80

24.4

1002

CVZ-50

10

60

50

15.2

1064

CVZ-51

2

100

98

29.9

1099

CVZ-52

0

95

95

29.0

1112

CVZ-53

9.5

100

90.5

27.6

1043

The drilling was accomplished using a BQ wireline rig between November 17 and December 12, 2018. All of the core holes were vertical. The core was split on-site and sent to ALS Laboratories in Reno, Nevada for analysis using a four acid digestion and MS-ICP analyzers. Table 2 lists the coordinates and depths of each hole.

Table 2

PHASE III DRILLING

Drill Hole Location Data

Collar

Easting

Northing

Elevation

Depth

Drill Hole

(UTM)

(UTM)

(m)

(m)

CVZ-45

455144.0

4180957.1

1345.5

30.5

CVZ-46

454947.4

4181349.6

1332.4

30.5

CVZ-47

454428.1

4181371.2

1325.4

30.5

CVZ-48

453981.5

4181251.7

1313.1

30.5

CVZ-49R

453831.7

4180875.7

1323.4

18.3

CVZ-50

454402.5

4180920.2

1337.4

30.5

CVZ-51

455248.7

4179668.0

1366.3

30.5

CVZ-52

455350.8

4180166.6

1357.7

29.0

CVZ-53

455920.8

4180129.3

1378.5

30.5

CVZ-54

454168.0

4181660.0

1325.0

30.5

CVZ-55

455253.2

4181703.6

1331.2

30.5

CVZ-56

454900.7

4181773.9

1325.5

30.5

CVZ-57

455527.3

4181474.1

1342.9

30.5

CVZ-58

456135.0

4181376.1

1363.1

30.5

CVZ-59

455908.6

4181869.3

1346.4

24.4

Average

29.2

Total

437.4

Image: http://www.accesswire.comfile:///C:/Users/saman/AppData/Local/Temp/msohtmlclip1/01/clip_image001.jpg

Image: https://www.accesswire.com/users/newswire/images/533705/NORAM%201.jpg

Figure 1. Location map showing the proximity of Noram's Zeus claim block in relation to the Albemarle facilities which have been producing lithium continuously for more than 50 years.

Image: https://www.accesswire.com/users/newswire/images/533705/NORAM%202.jpgImage: http://www.accesswire.comfile:///C:/Users/saman/AppData/Local/Temp/msohtmlclip1/01/clip_image002.jpg

Figure 2. Sketch map of the Zeus lithium clay property lode claims in eastern Clayton Valley, Nevada. Phase III drill holes are labeled without CVZ prefixes to the right of the drill collars, and the average lithium content for the entire drill hole is given in italics above each drill collar; see Tables 1 and 2. The area in green highlights Phase II drill holes with potential to average >1000 ppm lithium to depths of ~30 meters. The area in red is the outline for the initial NI43-101 inferred resource of 17 million tonnes with a grade of 1060 ppm lithium (Peek and Spanjers, 2018). The Phase II drill program deepened nine of the drill holes within the red area from ~30 feet to ~100 meters average, and these results were announced August 13, 2018.

With the completion of the Phase III drilling, Noram has now drill tested approximately one third of the aerial extent of its nearly 12 square kilometer Zeus claim block. Significant potential remains at depth and to the east and south of the current drilling. An updated NI 43-101 resource estimate which incorporates all of the Phase II and Phase III drilling thus far completed is in progress.

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 / OTCPINK: 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 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.

Please visit our web site for further information: www.noramventures.com

ON BEHALF OF THE COMPANY

/s/ "C. Tucker Barrie, Ph.D., P.Geo."

President and CEO, Noram Ventures Inc.

Direct: (604) 553-2279

Neither the TSX VentureExchange nor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. This news release may contain forward-lookinginformation which is not comprised of historical facts. Forward-lookinginformation involves risks, uncertainties and other factors that could causeactual events, results, performance, prospects and opportunities to differmaterially 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 suchforward-looking information include, but are not limited to, regulatoryapproval processes. Although Noram believes that the assumptions used inpreparing the forward-looking information in this news release are reasonable,including that all necessary regulatory approvals will be obtained in a timelymanner, undue reliance should not be placed on such information, which onlyapplies as of the date of this news release, and no assurance can be given thatsuch events will occur in the disclosed time frames or at all. Noram disclaimsany intention or obligation to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, other than as required by applicable securities.

SOURCE: Noram Ventures Inc.


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