Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-V: NRM and Frankfurt: N7R) ("Noram" or the "Company") is pleased to announce the completion of Phase II sampling on the Zeus claim group portion of its Clayton Valley Lithium Project (see Figure 1). The Zeus claim group is located within two kilometers of Albemarle’s Silver Peak Lithium Mine that has been in production since 1966 and is the only lithium brine production operation in North America.
The results shown below (see table 1) reinforce the initial sample results from the Zeus claim group (see table 2 and news release of June 9th, 2016) that indicate a lithium enriched evaporite rock sequence. The samples show an average of approximately 750 ppm lithium from all samples taken over the 1,200 metre long by 800 metre wide area with values as high as 1,670 ppm Li in the claystones. This large area of strong lithium mineralization as identified in the central Zeus claims is contained within a broad low profiled valley that lies at marginally higher elevation than the immediately adjacent (valley bottom) properties, where lithium brine production and exploration is ongoing by other parties.
Noram’s independent technical consultant, Bradley C. Peek, MSc and Certified Professional Geologist said:
“The results from the Phase II sampling continue to indicate that Noram’s Zeus claims are extremely favorable, both for the lithium brine potential and for the potential of the Tertiary Esmeralda Formation. The brine potential is established by professional geologic reports and by the proximity of the Zeus claims to the only lithium brine production in North America.”
It is important to note that these Phase II samples are primarily vertical chip samples. Of the 15 samples reported below, 13 are vertical chips and only two are grab samples. The vertical chips range from two feet to 10 feet in length and most are “stacked”, in that the samples were taken stratigraphically above or below the previous sample. With this type of sampling the variability in sample values between beds can be ascertained.
Table 1 – Second Round Sample Results
| Sample Type | Laboratory Results | |||||||
| K | Li | Mg | Na | P | Sr | |||
| Sample ID | Description | (%) | (PPM) | (%) | (%) | (%) | (PPM) | |
| ZS-2-008 | Greenish tan tuffaceous siltstone. Punky in some layers, hard in others. Hard layers are finely crystalline tuff. Calcareous. | 4' Vertical Chip | 3.2 | 620 | 1.07 | 3.17 | .044 | 930 |
| ZS-2-009 | Just above last sample. Appears to be similar material, but contains 5 - 10 mm blebs of white powdery, crystalline material. Material is non-calcareous. The rest of the rock is calcareous. Bedding at this site appears to be dipping at <5° to the north. | 2' Vertical Chip | 2.98 | 790 | 0.98 | 3.86 | .04 | 713 |
| ZS-2-010 | Light greenish tan, soft, poorly consolidated, calcareous siltstone. | 6' Vertical Chip | 4.09 | 760 | 1.93 | 3.08 | .041 | 1635 |
| ZS-2-011 | Just above last sample. Lithology is the same as last sample. Rock is also calcareous. | 10' Vertical Chip | 4.64 | 590 | 1.65 | 4.32 | .04 | 1285 |
| ZS-2-012 | 5 cm thick ledge just above last sample. Light tan with fine greenish layers. Finely crystalline tuff. Unit forms break in slope - is more resistant rock. Calcareous. Bedding is horizontal. | Grab | 4.31 | 206 | 0.64 | 1.555 | .028 | 2520 |
| ZS-2-013 | Just above last sample. Same lithology and color as last sample. | 6' Vertical Chip | 4.56 | 670 | 1.62 | 5.22 | .039 | 1650 |
| ZS-2-014 | Alternating hard and soft layers. Hard beds are very fine grained tan to very light green calcareous claystone or tuff. Some fractures are lined with iron oxide. Minor small blebs of soft white evaporite mineral. Hard claystone beds have sub-concoidal fracture. | 5' Vertical Chip | 3.93 | 770 | 2.11 | 1.67 | .055 | 680 |
| ZS-2-015 | Just above last sample. Similar to last sample, but harder. Light green to tan in color. Calcareous. | 3' Vertical Chip | 2.99 | 530 | 1.37 | 5.3 | .052 | 1220 |
| ZS-2-016 | Just above last sample. Tan to light green, calcareous, dirty siltstone. Minor beds of tan to white claystone or tuff. | 5' Vertical Chip | 3.6 | 680 | 1.85 | 2.52 | .056 | 1845 |
| ZS-2-017 | Bottom of slope of green clay material. Sample is light green, mostly unconsolidated or weakly consolidated calcareous claystone. A few chalcedony stringers which are <1mm thick. Rock is lithified near stringers. | 3' Vertical Chip | 4.42 | 900 | 1.51 | 2.25 | .04 | 2270 |
| ZS-2-018 | Just above last sample. Slight break in slope from below. Mostly poorly consolidated tan to light green calcareous claystone or mudstone. | 3' Vertical Chip | 4.55 | 910 | 1.35 | 5.23 | .038 | 517 |
| ZS-2-019 | Just above last sample. Tan to light green, calcareous mudstone. Micro-fractures filled with glassy mineral - perhaps calcite. Slight change is slope from below. | 4' Vertical Chip | 4.74 | 1670 | 1.72 | 7.35 | .035 | 1725 |
| ZS-2-020 | Base of hill. Light greenish gray, moderately hard, calcareous mudstone. Minor stringers of dark green mineral near top of interval.Base of hill. Light greenish gray, moderately hard, calcareous mudstone. Minor stringers of dark green mineral near top of interval. | 3' Vertical Chip | 3.24 | 1260 | 0.91 | 9.92 | .036 | 539 |
| ZS-2-021 | Just above last sample. 6" thick dark green, hard, non-calcareous shale bed. | Grab | 3.75 | 433 | 0.84 | 1.57 | .032 | 362 |
| ZS-2-022 | Sample occurs 6' above last sample. Samples are separated by covered interval. Lt green, weathering dark green, calcareous mudstone beneath ledge-forming sandstone. Contains irregularly shaped chert blebs. | 2' Vertical Chip | 4.73 | 470 | 0.98 | 2.15 | .046 | 535 |
Table 2 – First Round Sample Results
| Laboratory Results | |||||||
| K | Li | Mg | Na | P | Sr | ||
| Sample ID | Description | (%) | (PPM) | (%) | (%) | (%) | (PPM) |
| ZS-001 | Greenish tan, soft friable mudstone. No visible bedding. | 5.38 | 770 | 2.12 | 2.33 | 0.046 | 1910 |
| ZS-002 | Light tan, chalky-looking siltstone. In beds 1 -5 cm thick. Non-calcareous. | 5.16 | 196 | 0.44 | 3.42 | 0.02 | 2720 |
| ZS-003 | Greenish tan, soft, friable mudstone. No visible bedding. | 4.99 | 670 | 1.77 | 3.38 | 0.053 | 842 |
| ZS-004 | White, weathering FeOx, hard, well fractured claystone. | 4.59 | 313 | 0.76 | 3.26 | 0.02 | 6370 |
| ZS-005 | Light green, soft claystone. Below 1 foot thick white to light orange to buff, salty mudstone. | 4.1 | 670 | 0.98 | 2.09 | 0.025 | 284 |
| ZS-006 | Light green, micro-porous, crumbly, leached claystone (tuff?). In beds approximately 3 mm thick. | 4.14 | 760 | 1.7 | 3.71 | 0.014 | 533 |
| ZS-007 | Light tan, micro-porous, crumbly, leached claystone In beds 2 - 5 mm thick. Is approximately 3 feet below ZS-006. | 2.97 | 327 | 0.81 | 2.56 | 0.011 | 1185 |
The results above indicate the potential for a large mass of lithium mineralized claystones commencing at surface and extending to yet unknown depths.
Subsurface exploration in the form of shallow drilling core holes will be required to determine a preliminary resource estimate of the lithium and potassium contained within the near surface area central to the Zeus claims.
Continuity of mineralization is suggested by the results of two sets of closely spaced sample pairs taken during the second round of sampling reported above (see sample pair ZS-2-17, ZS-2-18, ZS-S-20, ZS-2-20 and ZS-2-21 & ZS-2-22 in table 1).
Bradley C. Peek, MSc and Certified Professional Geologist supervised the collection of the samples. Samples from the property where submitted to ALS Minerals in Reno, Nev., for analysis. The samples were crushed, split, a portion was pulverized and a one-gram aliquot analyzed by ALS Chemex method ME-MS61 (48 elements, including lithium, four-acid ICP-MS).
Additional surface and sub-surface samples are still being assayed and these results will be released in the next few weeks, this includes the balance of samples from the Zeus claim group as well as samples taken from the Hades and Spartan claim groups (see Figure 1).
Mark Ireton, President of Noram, said, “The analytical results from this next sampling program will assist us in identifying potential target areas for core drilling during our Phase 1I exploration program.”
Noram is amassing one of the largest land packages in Nevada’s Clayton Valley. Its non-contiguous North and South Blocks now total 888 claims covering 17,738 acres and are positioned both north and south of Albemarle’s Silver Peak mine, North America’s only lithium producer.
Michael Collins, P.Geo., and independent Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical content of this news release on behalf of the Company.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R) 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 and the Jumbo graphite property in southeastern 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.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Mark R. Ireton”
President & Director
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 circumstance or management's estimates or opinions change.
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