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Noram Ventures Inc.
Summary
| Project: | Clayton Valley | |
|---|---|---|
| Deposit: | Zeus | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 2/15/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-2-2017: Noram Ventures Inc. announces an Exploration/Drilling Update report for its Zeus deposit at the Clayton Valley project. JV with Alba Minerals Ltd. - Drilling results incl. 1.22m @ 2320ppm Li from 4.88m. Noram Ventures Inc. (TSX-Venture: NRM / F | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bradley Peek (Independent) | |
| ABSTRACT: | Noram Ventures Inc. (TSX-Venture: NRM / Frankfurt: N7R / OTCBB: NRVTF) ("Noram" or the "Company") and Alba Minerals Ltd. (“Alba”) (TSX-V: AA.H AXVEF:US) are pleased to announce the initial sample results from the first 10 holes of the 46-hole Phase I core drilling program that focused on the Zeus portion of its Clayton Valley Lithium Project in Nevada (see Figure 1). The Zeus claims are located within two kilometers (1.25 miles) of Albemarle’s Silver Peak Lithium Mine that has been in production since 1966 and is the only lithium-brine production operation in North America. The 10 holes consisted of 139.3 meters (457 feet) of core drilling with an average hole depth of 13.9 meters (45.7 feet) and core sampling done primarily on 1.22 meter (4-foot) intervals. Bradley C. Peek, MSc and Certified Professional Geologist supervised the collection of the cores and samples; and sample analysis was performed by ALS Labs (Reno, NV) on 116 samples from the 10 holes using a 4-acid digestion and MS-ICP methods for 48 elements. Samples intervals were split by geologists at the drilling program staging area. Half of the core was retained in the core boxes for future review and/or sampling. The other half was securely sent to ALS Laboratories in Reno, Nevada, USA for testing. Core recovery for these first 10 core holes averaged 79.5%. The lithium content of the 116 samples had an interval-weighted average of 1,087.1 ppm with a minimum value of 600 ppm and a maximum value of 2,320 ppm, both over 1.22m (4 ft) intersections. The samples had a median value of 1020 ppm Li. These results are well above those seen in the 73 surface samples collected from the drilling area and analyzed during exploration work in 2016 and indicate that some leaching of the lithium has occurred at surface. | |
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