Noram and Alba Report Final Results from Phase I Drilling at Their Lithium Project in Clayton Valley, Nevada
ACCESSWIRE
Phase I results will be included in initial NI 43-101 Resource Estimate in progress
VANCOUVER, BC / ACCESSWIRE / March 29, 2017 / Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) ("Noram") and Alba Minerals Ltd. (“Alba”) (TSX-V: AA.H AXVEF: US) are pleased to announce the last batch of drill core sample results from the 46-hole Phase I drilling program that focused on the Zeus portion of their Clayton Valley Lithium Project in Nevada (see Figure 1). The Zeus claims are located within two kilometers (1.25 miles) of Albemarle's Silver Peak Lithium Mine that has been in production since 1966 and is the only lithium-brine production operation in North America.
The last group of 16 holes reported herein consisted of 228.1 meters (748 feet) of core drilling with an average hole depth of 14.3 meters (46.8 feet) and core sampling done primarily on 1.22 meter (4-foot) intervals. Bradley C. Peek, MSc and Certified Professional Geologist supervised the collection of the cores and samples; and sample analysis was performed by ALS Labs (Reno, NV) on 191 samples from the 16 holes using a 4-acid digestion and MS-ICP methods for 48 elements.
Table 1 lists each drill hole's location (NAD 83, Zone 11S), elevation and depth – all in meters. All holes were vertical. All core size was BQ. Figure 2 is an overview of all of the Phase 1 drill holes.
Only three of these latest drill holes are located in the redefined area of close-spaced drilling measuring approximately 970 meters (3,180 feet) by 830 meters (2,720 feet)(shown as rectangle in Figure 3). Lithium values continue to be very consistent across the close-spaced drilling area, but values were shown to decrease to the north of the close-spaced drilling area. Since the northern area was only tested with shallow drilling, it may still hold promise with further testing. The areas to the east, west and south of the close-spaced drilling remain open and untested, as well as other large areas on the remainder of the claim holdings covering 17,738 acres (7,178 hectares).
Two holes were drilled in outlying areas as preliminary tests and showed very encouraging results. These were holes CVX-01 near the Zeus Extension claims, approximately 1.5 kilometers (0.93 miles) northeast of the main grouping of Zeus holes; and CVH-01 on the Hades claim, approximately 5 kilomenters (3.1 miles) southwest of the main grouping, near the previously reported borehole. CVX-01, had a weighted average of 807 ppm Li for the entire hole. Outwash gravel in the top 4.6 meters (15 feet) of CVH-01 prevented any core recovery, but the lower 9.8 (32 feet) of the hole had a weighted average of 1,023 ppm Li, somewhat higher than the 933 ppm average of 3 samples from the borehole's spoil pile.
A National Instument 43-101 resource estimate based on the analytical results from the Phase 1 drilling program is being prepared and will be announced upon completion.
Table 2 lists the samples, their intervals, their weights and their lithium analytical results. The core holes were vertical and the sedimentary units that were tested are horizontal or dipping at less than 5º, so the intervals sampled are true widths.
Sample intervals were split by geologists at the drilling program staging area. Half of the core was retained in the core boxes for future review and/or sampling. The other half was securely sent to ALS Laboratories in Reno, Nevada, USA for testing. Core recovery for these last 16 core holes averaged 74.1%.
The lithium content of the 191 samples from the last 16 holes had an interval-weighted average of 613.9 ppm with a minimum value of 163 ppm and a maximum value of 2,380 ppm. The minimum and maximum values were collected over 1.22m (4 ft) intersections. The samples had a median value of 560 ppm Li. Collectively, the weighted average lithium value in this last batch of drill core samples approximated the average value of previously reported surface samples (621 ppm Li).
Laboratory standards with two different lithium ranges (1,237 ppm and 783 ppm) were inserted into the sample stream, along with lithium blanks and duplicate samples (13 QA/QC samples, in all, with these samples). The standards and blanks were obtained from MEG Labs of Reno, Nevada, USA. Duplicate samples were obtained by splitting the remaining half of the split core (1/4 of the original core). All analyses of the standards, blanks and duplicates were well within acceptable ranges.
“We are extremely pleased with the results from our Phase 1 drilling program and expect to have our initial lithium resource estimate completed shorty,” said Mark Ireton President and CEO of Noram. “The Phase 1 results will also be instrumental in planning our Phase 2 drilling program that will encompass the Spartan and Hades claims and enable us to determine the lithium potential of our entire South Block property.”
Noram is amassing one of the largest land packages in Nevadas Clayton Valley. Its non-contiguous North and South Blocks now total 888 claims covering 17,738 acres and are positioned both north and south of Albemarles Silver Peak mine, North Americas only lithium producer.
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to Norams Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTC PINK: 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 Companys 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. Norams 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.
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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