Noram Receives Results for CVZ-77 & 78: High-Grade Intercepts of 240 Ft (73.2 m) Averaging 1212 PPM, & 231.3 Ft (70.5 m) Averaging 1157 PPM Respectively
VANCOUVER, BC / ACCESSWIRE / June 9, 2022 / Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the successful completion of CVZ-77 (PH-04) and CVZ-78 (PH-11) and release of the final assay results. The Company completed core hole CVZ-77 at a depth of 458 feet (139.6 m). Sampling for assays began at 20 ft (6.1 m) and continued to the bottom of the hole, an interval thickness of 240 ft (73.2 m) was intersected from 48 ft (14.6 m) to 288 ft (87.8 m). The weighted average lithium values present are summarized below with a high of 2140 ppm. The Company completed core hole CVZ-78 at a depth of 451.5 feet (137.6 m). Sampling for assays began at 26.8 ft (8.2 m) and continued to the bottom of the hole, an interval thickness of 231.3 ft (70.5 m) was intersected from 26.8 ft (8.2 m) to 258 ft (78.6 m). The weighted average lithium values present are summarized below with a high of 2100 ppm present.
Noram Lithium Corp., Thursday, June 9, 2022, Press release picture
Noram Lithium Corp., Thursday, June 9, 2022, Press release picture
Figure 1 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1. Phase VI holes are indicated in purple.
Noram Lithium Corp., Thursday, June 9, 2022, Press release picture
Figure 2. Comparative stratigraphy and assay results for drill holes CVZ-77 and CVZ-78 as compared to CVZ-65 which was drilled as part of a prior program. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.
"As we continue to receive results that meet and/or surpass our expectations, our level of confidence in the resource model continues to increase. This program is providing us with vital information that will allow us to upgrade a significant portion of the resource from the Inferred Category to the Indicated Category. We could not be more proud of the team we have diligently advancing the Project. Noram management is focused on enhancing shareholder value as we continue to develop the resource" comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.
Hole ID
Sample No.
From (ft)
To (ft)
From (m)
To (m)
Li (ppm)
CVZ-77
1748459
20
28
6.1
8.5
610
CVZ-77
1748460
28
38
8.5
11.6
850
CVZ-77
1748461
38
48
11.6
14.6
870
CVZ-77
1748462
48
58
14.6
17.7
1010
CVZ-77
1748463
58
68
17.7
20.7
840
CVZ-77
1748464
68
78
20.7
23.8
910
CVZ-77
1748465
78
88
23.8
26.8
840
CVZ-77
1748466
88
98
26.8
29.9
940
CVZ-77
1748467
98
108
29.9
32.9
600
CVZ-77
1748468
108
118
32.9
36.0
1160
CVZ-77
1748469
118
128
36.0
39.0
980
CVZ-77
1748471
128
138
39.0
42.1
1540
CVZ-77
1748472
138
148
42.1
45.1
1340
CVZ-77
1748473
148
158
45.1
48.2
1400
CVZ-77
1748474
158
168
48.2
51.2
1510
CVZ-77
1748475
168
178
51.2
54.3
1860
CVZ-77
1748476
178
188
54.3
57.3
2140
CVZ-77
1748477
188
198
57.3
60.4
1300
CVZ-77
1748478
198
208
60.4
63.4
1290
CVZ-77
1748479
208
218
63.4
66.4
1450
CVZ-77
1748480
218
228
66.4
69.5
1630
CVZ-77
1748481
228
238
69.5
72.5
1250
CVZ-77
1748482
238
248
72.5
75.6
1060
CVZ-77
1748483
248
258
75.6
78.6
1080
CVZ-77
1748484
258
268
78.6
81.7
950
CVZ-77
1748485
268
278
81.7
84.7
1020
CVZ-77
1748486
278
288
84.7
87.8
990
CVZ-77
1748487
288
298
87.8
90.8
790
CVZ-77
1748488
298
308
90.8
93.9
620
CVZ-77
1748489
308
318
93.9
96.9
870
CVZ-77
1748490
318
328
96.9
100.0
760
CVZ-77
1748491
328
338
100.0
103.0
430
CVZ-77
1748492
338
348
103.0
106.1
610
CVZ-77
1748493
348
358
106.1
109.1
550
CVZ-77
1748494
358
368
109.1
112.2
550
CVZ-77
1748495
368
378
112.2
115.2
720
CVZ-77
1748496
378
388
115.2
118.3
540
CVZ-77
1748497
388
398
118.3
121.3
790
CVZ-77
1748498
398
408
121.3
124.4
780
CVZ-77
1748499
408
418
124.4
127.4
600
CVZ-77
1748500
418
428
127.4
130.5
550
CVZ-77
1748501
428
438
130.5
133.5
500
CVZ-77
1748502
438
448
133.5
136.6
379
Table 1 - Sample results from CVZ-77 from 20 ft (6.1 m) to depth of 448 ft (136.6 m).
Hole ID
Sample No.
From (ft)
To (ft)
From (m)
To (m)
Li (ppm)
CVZ-78
1748508
26.75
37.25
8.2
11.4
920
CVZ-78
1748509
37.25
48
11.4
14.6
1090
CVZ-78
1748510
48
58
14.6
17.7
910
CVZ-78
1748511
58
68
17.7
20.7
910
CVZ-78
1748512
68
78
20.7
23.8
980
CVZ-78
1748513
78
88
23.8
26.8
2100
CVZ-78
1748514
88
98
26.8
29.9
1160
CVZ-78
1748515
98
108
29.9
32.9
1190
CVZ-78
1748516
108
118
32.9
36.0
1640
CVZ-78
1748517
118
128
36.0
39.0
1830
CVZ-78
1748518
128
138
39.0
42.1
1240
CVZ-78
1748519
138
148
42.1
45.1
1180
CVZ-78
1748520
148
158
45.1
48.2
1380
CVZ-78
1748521
158
168
48.2
51.2
1350
CVZ-78
1748522
168
178
51.2
54.3
1280
CVZ-78
1748523
178
188
54.3
57.3
1000
CVZ-78
1748524
188
198
57.3
60.4
1060
CVZ-78
1748525
198
208
60.4
63.4
910
CVZ-78
1748527
208
218
63.4
66.4
960
CVZ-78
1748528
218
228
66.4
69.5
1020
CVZ-78
1748529
228
238
69.5
72.5
830
CVZ-78
1748530
238
248
72.5
75.6
580
CVZ-78
1748531
248
258
75.6
78.6
1110
CVZ-78
1748532
258
268
78.6
81.7
790
CVZ-78
1748533
268
278
81.7
84.7
650
CVZ-78
1748534
278
288
84.7
87.8
750
CVZ-78
1748535
288
298
87.8
90.8
890
CVZ-78
1748536
298
308
90.8
93.9
680
CVZ-78
1748537
308
318
93.9
96.9
730
CVZ-78
1748538
318
328
96.9
100.0
930
CVZ-78
1748539
328
338
100.0
103.0
740
CVZ-78
1748540
338
348
103.0
106.1
720
CVZ-78
1748541
348
358
106.1
109.1
560
CVZ-78
1748542
358
368
109.1
112.2
490
CVZ-78
1748543
368
378
112.2
115.2
560
CVZ-78
1748544
378
388
115.2
118.3
560
CVZ-78
1748545
388
398
118.3
121.3
670
CVZ-78
1748546
398
408
121.3
124.4
660
CVZ-78
1748547
408
418
124.4
127.4
460
CVZ-78
1748548
418
428
127.4
130.5
460
CVZ-78
1748549
428
438
130.5
133.5
530
CVZ-78
1748550
438
447
133.5
136.2
388
CVZ-78
1748551
447
451.5
136.2
137.6
399
Table 2 - Sample results from CVZ-78 from 26.8 ft (8.2 m) to depth of 451.5 ft (137.6 m).
All samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the sample batch and returned values that were within their expected ranges.
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 Lithium Corp.
Noram Lithium Corp. (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,250/tonne LCE.
Sandy MacDougall Chief Executive Officer and Director C: 778.999.2159
For additional information please contact: Peter A. Ball President and Chief Operating Officer peter@noramlithiumcorp.com C: 778.344.4653
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. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
