Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R) (“Noram” or the “Company”) is pleased to announce it has entered into a an option agreement to acquire up to a 100% interest in the Arizaro East lithium brine-clay project. The 2,709 hectares Arizaro East mineral claim is located in the eastern portion of the Salar de Arizaro in north-western Argentina in Los Andes Department, Salta Province (see: Photo/Map).
The Salar de Arizaro and is largely underexplored despite being situated in the “Lithium Triangle”. Other miners and explorers advancing lithium projects in the region include ERAMET and Lithium X.
The geological setting of the Arizaro East Property includes saline beaches with stationary wind and fluvial deposits. The southern part of the Property is composed of fine sediments, sands and clays of Quaternary age, with the presence of salt at surface. The northern part of the Property is composed by sandstones, volcanic sandstones, siltstone, pelites, tufa, gypsum and halite that correspond to deposits of Tertiary age. Mineral occurrences include lithium, borates, sulfates with halite and gypsum.
An Environmental Impact Assessment has been recently approved by the Salta Mining Authorities, which enables exploration and confirmation of the Property’s potential to host lithium in the sediments.
Under the terms of the Agreement, Noram can acquire up to a 100% interest in the Property, subject to TSX and other regulatory approvals in consideration of the following share issuances and payment:
- Issue 28,500,000 common shares of Noram Ventures Inc. on or before July 23rd 2017, in order to earn a 90% interest in the Claim;
- Make a payment of US$150,000 on or before July 31, 2018 in order to earn the balance of 10% for an aggregate of 100% of the claim.
“We are very pleased to have signed this option agreement to acquire a land position in Argentina, which will diversify and compliment our existing asset mix of lithium and graphite properties,” said Noram’s President Mark Ireton. “The Arizaro East property being clay based at surface fits into Noram’s strategy of developing nanofiltration technology to extract lithium from both clay and brine hosts. And our research to date suggests this can be accomplished economically, environmentally effectively and efficiently. Our focus is not only on finding and developing lithium and graphite deposits, but also on sourcing and supporting new, environmentally-friendly, processing techniques to produce our lithium and graphite products.”
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 lithium projects in the Clayton Valley in Nevada, the Hector Lode in San Bernardino county, California 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.
For further information, please visit www.noramventures.com.