NORAM COMMENCES DRILLING ON ITS LITHIUM BRINE/CLAY PROJECT IN NEVADA’S CLAYTON VALLEY
Sample assays from the main target area returned an average value of 621 ppm lithium over 77 samples with a maximum value of 1670 ppm lithium
Vancouver, British Columbia – December 8th, 2016 – Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / US-OTC: NRVTF) (“Noram” or the “Company”) is pleased to announce its wholly owned subsidiary Green Energy Resources (“Green Energy”) has commenced a 55 hole drilling program just east of Albemarle’s lithium brine operation and approximately six miles (10 km) northeast of Silver Peak, Nevada (Figure 1). As previously announced on December 5th 2016, Noram entered into a Letter of Intent (LOI) with Alba Minerals to option up to a 50% interest in Green Energy and its lithium projects. In keeping with the terms of the LOI, Alba has made the initial option payment of $127,500 and the drilling crew has been mobilized. The Phase I core drilling program will focus on Noram’s South Block claims with some 50 holes to be drilled in the main target area that measures approximately two and a half miles (4.1 km) by one and a half miles (2.4 km) on the Zeus claims and border of the Zeus Extension claims (Photo 1). And an additional five holes to be drilled on the adjacent Hades claims around the historical shaft where lithium values over 1,000 ppm were sampled from the spoil pile (Photo 2).
The Program, that will include drilling, core logging, splitting, sampling, and assay analysis, is expected to be completed by mid-January 2017.
“We are very pleased to be underway with our first phase of drilling in the Clayton Valley,” said Mark Ireton, CEO and President of Noram. “Our objective is to delineate a portion of the lithium mineralization on the South Block claims and produce an initial, National Instrument 43-101 resource estimate by the end of January 2017.”
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is an independent Qualified Person as defined under NI 43-101 with respect to Noram’s Clayton Valley Lithium Project.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM / Frankfurt: N7R / OTCBB: NRVTF) 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 properties that include the Clayton Valley lithium project in Nevada, the Hector Lode lithium project in San Bernardino county, California and the Jumbo graphite project 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.
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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