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Noram Ventures Inc.
Summary
| Project: | Clayton Valley | |
|---|---|---|
| Deposit: | Clayton Valley | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 7/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-7-2017: Noram Ventures Inc. announces a Resource Estimation report for its Clayton Valley deposit at the Clayton Valley project. JV with Alba Minerals Ltd. - Initial mineral resource for Clayton Valley. This Technical Report is prepared for Noram Ventu | |
| Resources: | (Resource, Inf.): 816kt LCE (20gm/ml cutoff) at Clayton valley | |
| CP/QP: | [Resources]: Bradley Peek (Independent) | |
| ABSTRACT: | This Technical Report is prepared for Noram Ventures, Inc. (Noram) and Alba Minerals Ltd (Alba). Both are publicly traded Canadian corporations with corporate offices in Vancouver, BC, Canada. Both companies are listed on the TSX Venture Exchange (Noram’s symbol is TSX-V:NRM; Alba’s symbol is TSX-V:AA-H). Alba has entered into an option agreement with Noram and its wholly-owned subsidiary, Green Energy Resources (Green Energy) to purchase a 25% interest, and an option to acquire a further 25% interest, in the properties (also herein called the “claims”) described in this report. Noram acquired a land position in the Clayton Valley of Nevada consisting of 888 placer claims. The land package covers 17,738 acres (7,178 hectares). The perimeter of Noram’s claims are located within 1 mile (1.6 kilometers) of Albemarle Corporation’s (Albemarle’s) lithium brine operations. Lithium is produced at Albemarle’s plant from deep wells that pump brines from the basin beneath the Clayton Valley playa. The plant is the only lithium producer in the United States and has been producing lithium at this location continuously since 1967. Between Albemarle’s operation and Noram’s land position lies Pure Energy Minerals’ Clayton Valley South project where Pure Energy has announced an NI 43-101 compliant inferred resource of 816,000 metric tonnes of lithium carbonate equivalent (LCE) above a cutoff of 20 gm/ml (Spanjurs, 2015)). Pure Energy has more recently announced a very positive Preliminary Economic Assessment (PEA) for their project. This resource occurs as basinal brines similar to those at Albemarle’s project. The resource has not been verified by the author, and is not necessarily indicative of the mineralization that is the subject of this technical report. | |
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