Vancouver, British Columbia (FSCwire) - – Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R:GR) ("Noram" or the "Company") is pleased to announce that the Company has acquired, via staking, an additional 200 placer claims as a compliment to Noram' existing land package located in the heart of the Clayton Valley, Nevada lithium brine exploration area. This bring Noram’s land package to a total of 7,738.18 acres and is positioned both north and south of Albemarle’s Silver Peak mine, North America’s only lithium producer.
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The Clayton Valley South Block Expansion.
The Property is strategically located between and contiguous with the Silver Peak lithium mine operated by Albemarle Corp. near the northern boundary, the Clayton Valley South project operated by Pure Energy Minerals Ltd 1km to the west and the Malica property owned by Nevada Sunrise Gold Corporation contiguous to the north. (Refer to Figure 1: Noram’s Clayton Valley Project, which can also be found on the Company’s website, (www.noramventures.com). During the stacking process, grab samples from surface occurances where taken and are currently at ALS Lab’s for analysis.
Historic and present drilling programs surrounding the Noram’s Clayton Valley South Expansion Property suggest the potential for discovery of lithium-bearing brines. Albemarle wells are less than 2 km from the Property and current drilling by Pure Energy is estimated to be 3 km from the Property.
Noram has reviewed the seismic data in the Pure Energy (TSX-V: PE) NI 43-101 Technical Report titled "Inferred Resource Estimate for Lithium, Clayton Valley South Project", dated July 17, 2015. The data appears to indicate a very favorable lithium brine exploration target along the western and west central portions of Noram’s' properties. Other first order targets exist on the Property including extensive outcropping of altered green and white clays that were discovered during staking of these new claims. Noram believes that additional lithium brines could be localized at the water table below the outcropping claystones and potentially also localized along structures cutting these units.
The Company will assess all available and pertinent data for this latest land package to be able to determine what exploration programs could be initiated which will also include the drilling of shallow auger holes/cores (depth of 40-60 feet) targeting areas of strongly lithium mineralized claystones recently discovered at surface.
Lithium Timing - Why Now:
Tesla Motors (NASDAQ: TSLA) is driving the current lithium boom in Nevada with the construction of a Gigafactory, a large-scale lithium-ion battery facility outside of Sparks Nevada. Market speculations of the likely construction of additional large-scale lithium battery factories in the region appears based on the potential of lithium batteries as all purposed energy storage units that are highly scalable.
The energy storage revolution is generating high demand for lithium with analysts forecasting demand increases for the product (Li) in the near future. Battery giants are scaling up lithium-ion production with mega-factories and are actively acquiring the raw material through off take agreements. Companies already producing lithium are attempting to increase production.
Electric vehicles and energy storage has become a huge demand driver for the increased production at Clayton Valley and for the exploration and discovery of more lithium deposits in the area.
The technical information contained in this news release has been reviewed and approved by Michael Collins, P.Geo., who is a Qualified Person with respect to the South Block Claim’s Group Property as defined under NI 43-101.
Mark Ireton, CEO and President, stated, “We are very pleased with our land acquisition strategy that has nearly doubled our project footprint and significantly increases the potential and scope of our Clayton Valley, Nevada project.”
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R:GR) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite 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 that include the lithium projects in Clayton Valley in Nevada the Alberta Lithium Brine, in Leduc and the Jumbo graphite property in British Columbia. Noram’s long term strategy is to build a multi-national lithium - graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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