Noram Commences Drilling on Jumbo Flake Graphite Property in BC
Drill testing will include the Big Flake target where metallurgical testing returned high-purity flake graphite with 45.5% of the graphite reporting to or above the large flake category at an average grade of 96.0% carbon
Vancouver, British Columbia – August 20, 2013 – Noram Ventures Inc. (TSX-V: NRM) (“Noram” or the “Company”) is pleased to report that drilling has commenced on Jumbo flake-graphite property (the “Property”), located in the Slocan Mining Division of southern British Columbia (See: Figure 1).
Phase I drilling will follow the recommendations set out in the National Instrument 43-101 Technical Report completed in March 2013, which concluded the Property could host a significant resource of commercial grades of flake graphite. The initial drill targets include the South Limb, the Black Fly and the Big Flake areas (click on map right).
The Big Flake area being of primary interest as a result of preliminary metallurgical testing previously reported on May 16, 2013, where a 10 kg sample obtained from the area returned high-purity flake graphite with a total of 45.5% of the graphite reporting to or above the large flake category and at an average grade of 96.0% carbon (LOI).
Drill core samples will be sent to SGS Minerals Services in Lakefield, Ontario for analysis and assay results will be reported as they are received.
About the Jumbo Property
Noram has an option to earn a 100% interest in the large 10,539 hectare (>100 square kilometer) Jumbo property, where there is no record of mineral exploration prior to Noram’s work that commenced in 2012.
Noram has taken a multidisciplinary approach to exploration of the Property. Geological mapping and surface sampling carried out as follow up to a SkyTEM airborne electromagnetic (EM) survey have indentified an overall strike length of 35 kilometers (km) of favourable graphite horizon. A sinuous conductive (EM anomaly) feature from a few hundred meters to 2km wide appears to be outlining a tightly folded sedimentary horizon (also shown in map upper right).
The Property is located in the Slocan Mining Division ~15km southwest of the town of Nakusp, BC on the west side of Upper Arrow Lake. Graphite is an industrial mineral, and ease of access and ease of extraction are equally important parameters as grade for determining the economic viability of a deposit. A network of logging roads crisscross the Property and a secondary road connects the property to BC Hwy 6, located ~20km to the south. Power and water for any industrial endeavour are readily available. A labour force with mining experience is well established in most towns and cities throughout the Nakusp-Arrow Lakes region, which has a rich history of mining dating back to the 1860s.
Chris Dyakowski, P.Geo. and Qualified Person as defined in National Instrument 43-101, has reviewed and verified the technical content of this news release on behalf of the Company.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM) is a Canadian based mineral exploration company with a project generator business model. The Company’s strategy is to identify and acquire early-stage properties that offer large-scale resource potential, and create value through the initial drilling and discovery phase. Noram’s current portfolio includes four properties in the central Kootenay region of southern British Columbia: the Amazing Grace gold property, the Jumbo flake-graphite property, the Kokanee flake-graphite property and the Silver Hill molybdenum-galena property.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “David W. Rees”
President & Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding exploration work on the properties and the completion of the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, and (7) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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