Noram Ventures Completes Phase I Drilling at Jumbo Flake Graphite Property in British Columbia
Drill testing included the Big Flake target where preliminary metallurgical studies identified 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% C
Vancouver, British Columbia – September 17, 2013 – Noram Ventures Inc. (TSX-V: NRM) (“Noram” or the “Company”) is pleased to report the completion of Phase I drilling at the Jumbo flake-graphite property (the “Property”), located in the Slocan Mining Division in southeast British Columbia (See: Figure 1). Phase I drilling followed the recommendations set out in the National Instrument (NI) 43-101 Technical Report effective March 6, 2013, which concluded the Property could host significant flake graphite mineralization near surface. A total of 1295 meters (m) of core drilling was completed in eight holes with an average hole depth of 162m. Five holes were drilled in the Big Flake area, 2 holes in the Black Fly area 7.9 kilometers (km) to the south and 1 hole was drilled in the South Limb area 7.2 km to the southeast (click on map upper right to see drill hole locations).
All mineralized intervals of core from the Phase I drilling have now been sampled. Samples are currently being analysed for graphite carbon by SGS Minerals Services in Lakefield, Ontario. Assay results will be reported as they are received.
The Big Flake area is of primary interest. Preliminary metallurgical testing of a 10 kilogram sample from this area (previously reported on May 16, 2013) indicated that it contained 3.81% (direct measured head grade) 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).
About the Jumbo Property
Noram has an option to earn a 100% interest in the large 10,539 hectare (>100 square km) Jumbo property, where there is no record of mineral exploration prior to Noram’s work that commenced in 2012. 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.
A sinuous conductive feature from a few hundred meters to 2km wide was defined by a SkyTEM airborne electromagnetic survey conducted in 2012. Subsequent geological mapping and rock sampling suggests that this EM anomaly is outlining a tightly folded graphitic sedimentary horizon with a cumulative strike length of over 35km (also shown in map upper right).
Graphite is an industrial mineral, and ease of access and ease of extraction are equally important parameters as grade and purity for determining the economic viability of an exploration target. 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 that dates back to the 1860s.
Gordon Allen, B.Sc., P.Geo. and independent Qualified Person as defined in NI 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) 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 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-lead 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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