Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-Venture: NRM and Frankfurt: N7R) (“Noram” or the “Company”) is pleased to report a more extensive sampling and geological mapping program is underway on its Spartan claim group to better understand and expand on initial exploration results, and define which areas contain the highest lithium values.
The Spartan claim group, along with the contiguous Zeus and Hades claim groups, form Noram’s 100% owned South Block Extension that consists of 550 claims covering approximately 14,000 acres in the heart of the lithium-producing area of Nevada’s Clayton Valley (see Figure 1). The South Block Extension, which Noram recently acquired by staking through its wholly owned subsidiary Green Energy Resources, is located east of Pure Energy’s lithium project and within 2 kilometers of Albermarle’s Silver Peak mine that has been in production since the mid 1960s and is the only lithium brine operation in North America.
According to Noram’s independent technical consultant, Bradley Peek, MSc and Certified Professional Geologist:
“Recent sampling on the Spartan claim group has shown that there is a layer of tan colored sediments which lies on top of the green lithium-rich sediments. Lithium values ranging from 140 ppm to over 1,000 ppm with an average grade of 700 ppm lithium were recently reported on the McGee claims located just north of the Spartan claim group. It has now been supported that the green lithium-rich volcanic claystones dip beneath the tan surface sediments on the Spartan claims. This discovery, along with the discovery of high lithium values in the borehole on the adjacent Hades claim group, now extends the area of lithium-rich sediments to approximately 10 kilometers in a NNE-SSW direction. Geologic reconnaissance has shown that the thickness of the green sediments of the Esmeralda Formation is greater than 40 meters, at least in some areas, and the base of the unit has not yet been found.”
Once the geological mapping and sampling phases have been completed, shallow core drilling (60–80 feet or 18–24 meters) has been recommended on the Spartan, Hades and Zeus claim groups to provide a more in-depth understanding of the geology, lithium grades and thicknesses. Drill collar locations and the numbers of holes are currently being assessed by our onsite geological team.
The technical information contained in this news release has been reviewed and approved by Michael Collins, PGeo, who is a Qualified Person with respect to Noram’s Clayton Valley Claim Group Project as defined under National Instrument 43-101.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM and 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 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
Direct: (604) 761-9994
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially 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 such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.