NORAM COMPLETES PHASE I DRILLING ON ITS LITHIUM PROJECT IN NEVADA’S CLAYTON VALLEY
Previous surface samples (November 3, 2016) from the main target area returned a maximum value of 1,670 ppm lithium with an average value of 621 ppm lithium over 77 samples
Vancouver, British Columbia – February 6, 2017 – Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) (“Noram” or the “Company”) is pleased to announce its wholly owned subsidiary Green Energy Resources has completed the Phase I drilling program on its lithium clay property in Clayton Valley, Nevada. Further to Noram’s news release on (December 5th 2016) Alba Minerals Ltd. (“Alba”) (TSX-V: AA.H AXVEF:US) under the terms of the Letter of Intent (“LOI”) has made to date 70% of the payments for the Phase I drilling program.
The Phase I program consisted of 658.4 meters (2,160 ft.) of core drilling over 46 holes with an average hole depth of 14.3 meters (47 ft.). Drilling was focused on Noram’s South Block claims with 45 holes 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). One additional hole was 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).
All drill core has been logged and sampled with a total of 421 samples having been shipped to ALS Labs in Reno, NV for analysis. Analytical results from the drill core samples will be released as soon as available and incorporated into a National Instrument 43-101 resource estimate.
“The drilling program went well overall,” said consulting geologist, Brad Peek. “Good core recovery was achieved in spite of the difficulties involved in drilling through the soft sediments.”
The technical information contained in this news release has been reviewed and approved by Bradley Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Ventures Inc.
Noram Ventures Inc. (TSX-Venture: 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. Current projects include lithium properties in the Clayton Valley of Nevada and the Hector Lode in San Bernardino County, California; and the Jumbo graphite property 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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