Vancouver, British Columbia – November 24, 2020 – Noram Ventures Inc. (“Noram”) (TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is pleased to announce that the Company has continued drilling in mineralization at depth on Hole #7 (CVZ-62).
Figure 1 - LF-70 drill rig on CVZ-62 site, 2020-11-17, Brad Peek, Senior Geologist and Q.P. on site, looking northwest. CVZ-62 has 50 meters of lithium claystone and is continuing to drill in the claystones. Samples have been submitted to ALS laboratories for analysis.
The Zeus property Esmeralda Formation playa lake bed sediments are horizontal and laterally continuous strata over kilometers and each drill intersection has a large radius of influence for resource estimates. This is evident in the February 20, 2019, Updated Inferred Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA NI 43-101 technical report for the Zeus property, where the radius of influence is 250 meters or greater. “The prior hole CVZ-61, intersected approximately 298ft (91m) of lithium claystone. With a specific gravity of 1.74 g/cc for the claystone material, this corresponds to ~31 million tonnes that potentially can be added to the resources from this one intersection alone” commented Anita Algie, Director and CFO.
“CVZ-61 is to the east of a NE-SW possible fault, and it appears that the fault has not affected the claystone unit in a measurable way; i.e., there is no measurable displacement along the fault. This bodes well for the rest of the drilling to the east of the fault, which will cover an area approximately the same as the current resources (at >900 ppm lithium cutoff)” stated Brad Peek, consulting geologist and Qualified Person for this and all 4 of the previous drilling phases of Noram’s Zeus Lithium property.
President and CEO, Dr. Tucker Barrie visited the Project this past week and reported:
“The Fall drill program is proceeding well. At present we have an LF-70 drill rig that can produce 50-60 feet of core per 12 hour shift. We are running one shift a day at present, but we will soon be going to 2 shifts with a Longyear 44 rig that is capable of 120+ feet per shift. We are on track to complete the drill program before Christmas.
On this visit I had the opportunity to meet with our neighbors in Clayton Valley who are producers of lithium and of other resources. There is potential for synergies in the production of these resources moving forward, and we will continue to have discussions in this regard. “
As well, I met with senior geologists from the Nevada Bureau of Mines and the United States Geological Survey to update them of our activities and to hear about their research related to lithium claystone deposits in Nevada. There are many ways we can work together, including providing access to our property and drill core for detailed mineralogical studies, and working toward possible lithium symposia in Nevada in the future. It would be ideal to gather industry, academia and the geological surveys to discuss Nevada’s significant lithium resources and how to increase production for the growing electric vehicle market. “
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, 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 / OTCQB: NRVTF) is a Canadian based junior exploration company, with a goal of developing lithium deposits and becoming a low - cost supplier. The Company’s primary business focus since formation has been the exploration of mineral projects. Noram’s long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Anita Algie.”
Director and CFO
Office: (604) 553-2279
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.