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Noram Ventures Inc.
Summary
| Project: | Clayton Valley | |
|---|---|---|
| Deposit: | Clayton Valley | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 11/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-11-2016: Noram Ventures Inc. announces a Supporting Acquisition report for its Clayton Valley deposit at the Clayton Valley project. Technical report supporting acquistion of new lithium claims. Noram Ventures Inc. (Noram) has acquired a land position i | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bradley Peek (Independent) | |
| ABSTRACT: | Noram Ventures Inc. (Noram) has 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. This resource occurs as basinal brines similar to those at Albemarle’s project. While the lithium brines may also exist beneath Noram’s claims, Noram has chosen for the time being to concentrate its efforts on lithium rich sediments that occur at surface over a wide area on their claims. Three rounds of surface sampling have shown high lithium values in an area greater than one square mile (2.6 square kilometers). In some areas the lithium rich sediments are at least 100 feet (30 meters) thick. The base of these sediments has not been found in surface showings. Other sampling farther southwest 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 currently unknown if the sedimentary units are continuous over this entire length. | |
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