Noram Files Technical Report on its Lithium Brine/Clay Project in Clayton Valley, Nevada
ACCESS Newswire
Sample assays from the Zeus claim block returned a maximum value of 1670 ppm lithium with an average value of 621 ppm lithium over 77 samples
VANCOUVER, BC / ACCESSWIRE / November 3, 2016 / Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) ("Noram" or the "Company") is pleased to report that Bradley Peek, MSc and Certified Professional Geologist has completed an initial National Instrument 43-101 Technical Report on its 100% owned Clayton Valley Lithium Brine/Clay Project. The Technical Report includes a detailed review of the exploration work completed to date, interpretations and conclusions, and recommendations for the next phases of work.
Project Overview:
Noram's land position in Nevada's Clayton Valley consists of 888 placer claims covering 17,738 acres (7,178 hectares) in two non-contiguous claim blocks (Figure 1). The perimeter of Noram's claims are located within 1 mile (1.6 kilometers) of Albemarle Corporation's lithium brine operations. Albemarle produces lithium at its plant from deep wells that pump lithium-rich brines from the basin beneath the Clayton Valley playa. The Albermarle plant is the only lithium producer in the United States and has been producing lithium at this location continuously since 1967.
While lithium brines may also exist beneath Noram's claims, the Company has chosen to focus its initial efforts on the lithium-rich sediments (claystones).
In three phases of surface sampling Noram has established that lithium-rich sediments occur at surface over a large portion of its claims. This includes an area greater than one square mile (2.6 square kilometers) on the Zeus claim block where sample assay values ranged from a maximum of 1670 ppm Li to a minimum of 74.2 ppm Li and averaged 620.6 ppm lithium over the 77 samples tested.
In some areas the lithium-rich sediments are at least 100 feet (30 meters) thick and the base of these sediments has not been found in surface showings. Other sampling farther southwest on Noram's South Block has discovered isolated areas of what appear to be the same sediments with similar anomalous lithium assays. This extension covers an area with a strike length of more than 6 miles (10 kilometers). However, it is yet to be determined if the sedimentary units are continuous over this entire length.
One of the keys to Noram's Project is to determine if lithium can be economically extracted directly from the sediments. To this end, Noram commissioned Membrane Development Specialists LLC to investigate the amenability of the sediments to lithium extraction using new, environmentally-friendly membrane processes. Their findings, although preliminary in nature, have shown that the bulk sample sediments tested were amenable to an acid leach, ultrafiltration and nanofiltration process to separate the lithium from the sediments and remove a large portion of the magnesium and calcium with no rejection of lithium.
Based on the interpretations and conclusions from exploration work and testing to date, it is recommended that Noram:
begin to quantify the mineralization through a drilling program (±55 core holes ranging from 60–80 feet [18 – 24 meters] in depth) and at the same time continue to explore extraction methods to recover lithium from the sediments; and,
conduct a gravity survey over both of their claim blocks on a 250 meter by 250 meter grid to define basement topography in preparation for a deep drill hole to test for aquifers which may contain lithium salts.
The Complete NI 43-101 Technical Report is available on SEDAR and on the Company's web site at www.noramventures.com.
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 Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
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 projects that include lithium projects in the Clayton Valley in Nevada, the Hector Lode in San Bernardino county, California and the Jumbo graphite property in 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.
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.
