Noram Commences Phase III Exploration to Prepare for Core Drilling on its Clayton Valley Lithium Project
Vancouver, British Columbia (FSCwire) - Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R) ("Noram" or the "Company") is pleased to announce the commencement of Phase III exploration on its South Block (Zeus, Hades and Spartan) lithium claim groups in Nevada’s Clayton Valley (see Figure 1).
The intent of the Phase III program is to collect additional geological data and prepare an exploration plan for submission to the Bureau of Land Management (BLM) as the basis of Noram’s permit application to carry out an initial core drilling program.
Phase III will focus on the Zeus and Hades claim groups, where previously reported surface and sub-surface sample assay values ranged from 206 ppm to a high of 1,670 ppm lithium and averaged 780 ppm lithium within the claystones (see news released on July 22, 2016 and July 26, 2016).
Work will include further geological mapping for structure, faulting, strike, dip, stratigraphy and correlation of the lithium-rich claystone units to further understand their continuity from one area to the next. It is expected that additional samples will be collected to assist with the correlation process and to enhance the sample database. The geological work will be followed by drill hole staking to determine hole locations, access and logistics. It is anticipated that the initial drilling campaign will include several dozen shallow, 60 to 80 feet (18 to 24 meters), core drill holes. The exact number of drill holes will be determined once the geological mapping is complete and the permitting is in place.
The Company has engaged Bradley Peek, MSc and CPG, as independent technical consultant to oversee the Phase III program. Mr. Peek has a Bachelor of Science Degree in Geology from the University of Nebraska, a Master of Science Degree in Geology from the University of Alaska; and is a member of the American Institute of Professional Geologists (Certified Professional Geologist, 11299) and a member of the Society of Economic Geologists.
“We are very pleased to be advancing our Clayton Valley project to the next stage of exploration after the very positive results from our Phase I and II surface and sub-surface sampling programs,” said Mark Ireton, President of Noram.
The technical information contained in this news release has been reviewed and approved by Michael Collins, PGeo, who is a Qualified Person with respect to Norma’s Clayton Valley Claim Group Project as defined under National Instrument 43-101.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM Frankfurt: N7R) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite deposits and becoming a low-cost supplier for the burgeoning lithium battery industry. The Company’s primary business focus since formation has been the exploration of mineral projects that include the lithium projects in Clayton Valley in Nevada and the Jumbo graphite property in British Columbia. Noram’s long term strategy is to build a multi-national lithium - graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia. Please visit our web site for further information: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Mark R. Ireton”
President & Director
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Noram08042016.pdf
Source: Noram Ventures Inc. (TSX Venture:NRM)
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