Initial Drill Result Values Higher Than Current Inferred Resource On Zeus Property 

 

VANCOUVER, BC - Noram Ventures Inc. reported the results for three of six drill holes completed during the Phase IV drill program on the Zeus lithium claystone property. Drill hole 47 returned results of 29 meters at 1164 ppm Li, and drill hole 53 showed 54.9 m at 1186 ppm Li immediately below the 2019-02 inferred resource. 

Noram's Zeus lithium property is located in Clayton Valley, Nevada, immediately adjacent and to the east of Albemarle's Silver Peak lithium brine operations, currently North America's only lithium producer. The lithium deposit is within the non-refractory claystones of the Esmeralda Formation, and has access to power, groundwater and a capable work force. Nevada is recognized as one of the most favorable jurisdictions for mineral extraction globally.

The Phase IV drill program was designed to test the Esmeralda Formation claystone beneath earlier drill holes that extended only to ~30 meters depth (Figure 1). This program indicates that the favorable claystone sub-units continue to depth, and are thicker and possibly higher grade to the southeast.

The Phase IV drill program followed NI 43-101 procedures for sample preparation, analyses and security as described in Peek and Barrie. 

President and CEO C. Tucker Barrie said, "Our immediate goal is to outline a viable lithium resource that can support a mining operation that can produce 20,000 tonnes lithium carbonate per annum for 20+ years, to support the growing lithium battery and electric vehicle market. We are encouraged by these Phase IV drill holes which will significantly increase our current resource. The deposit remains open to the south and east on the property where there is >2 km2 of untested ground. As well, we note the success of our neighbor Cypress Development Corp., which has a similar lithium claystone deposit and is making significant advances with extraction technology. This bodes well for the development of our Zeus deposit."

The company’s address is Suite 2150, 555 West Hastings Street, Vancouver, BC V6B 4N6, (604) 553-2279, www.noramventures.com.