Noram Ventures Inc. Receives Assay Results for Lower Portion of CVZ-62
High of 1900ppm & Average of 1113ppm LI Over 290ft (88m)VANCOUVER, Jan 28, 2021 - Noram Ventures Inc. ("Noram" or the "Company") (TSXV:NRM) (FSE:N7R) (OTCQB:NRVTF) is pleased to announce that the Company has received the second half of the results for CVZ-62. Noram had previously received the assay results for the upper portion of drill hole CVZ-62. The 26 samples were rushed to ALS Global Laboratories of North Vancouver, B.C taken from the first 227 ft (69 m) drilled. From 137 ft (42 m) to 227 ft (69 m) (an intersection of 90 ft or 27 m), the samples contained an average of 1049 ppm lithium.
With the receipt of the results from the lower portion of CVZ-62, Noram has been able to conclude that a total intersection of 290 ft (88M) was drilled with an average of 1113 ppm lithium.
"This is one of the longer intervals of claystones to date and will contribute significantly to the resource calculation. We are exceptionally pleased with these results" commented Brad Peek, consulting geologist and Qualified Person for this and all 4 of the previous drilling phases of Noram's Zeus lithium property.
This average is consistent with Noram's current resource estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resource, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resource (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent - "LCE", area shown in red below) after the completion of the prior 4 phases of drilling.
The summary of assay results is as follows:
| Hole ID | Sample No. | From (ft) | To (ft) | Depth to Top | Depth to Base | Recvd Wt. (Kg) | Li (ppm) |
| CVZ-62 | 1710144 | 13 | 17 | 3.96 | 5.18 | 0.54 | 630 |
| CVZ-62 | 1710145 | 17 | 27 | 5.18 | 8.23 | 2.2 | 620 |
| CVZ-62 | 1710146 | 27 | 37 | 8.23 | 11.28 | 1.62 | 500 |
| CVZ-62 | 1710147 | 37 | 47 | 11.28 | 14.33 | 2.38 | 580 |
| CVZ-62 | 1710148 | 47 | 57 | 14.33 | 17.37 | 2.66 | 362 |
| CVZ-62 | 1710149 | 57 | 67 | 17.37 | 20.42 | 2.06 | 423 |
| CVZ-62 | 1710150 | 67 | 77 | 20.42 | 23.47 | 2.92 | 550 |
| CVZ-62 | 1710151 | 77 | 87 | 23.47 | 26.52 | 2.98 | 500 |
| CVZ-62 | 1710152 | 87 | 97 | 26.52 | 29.57 | 2.94 | 810 |
| CVZ-62 | 1710153 | 97 | 107 | 29.57 | 32.61 | 2.52 | 640 |
| CVZ-62 | 1710154 | 107 | 117 | 32.61 | 35.66 | 2.94 | 790 |
| CVZ-62 | 1710155 | 117 | 127 | 35.66 | 38.71 | 2.32 | 570 |
| CVZ-62 | 1710156 | 127 | 137 | 38.71 | 41.76 | 3.02 | 770 |
| CVZ-62 | 1710157 | 137 | 147 | 41.76 | 44.81 | 2.54 | 1210 |
| CVZ-62 | 1710158 | 147 | 157 | 44.81 | 47.85 | 3.02 | 820 |
| CVZ-62 | 1710159 | 157 | 167 | 47.85 | 50.90 | 3.08 | 930 |
| CVZ-62 | 1710160 | 167 | 177 | 50.90 | 53.95 | 2.64 | 710 |
| CVZ-62 | 1710162 | 177 | 187 | 53.95 | 57.00 | 2.24 | 930 |
| CVZ-62 | 1710163 | 187 | 197 | 57.00 | 60.05 | 3.46 | 810 |
| CVZ-62 | 1710164 | 197 | 207 | 60.05 | 63.09 | 3.34 | 1900 |
| CVZ-62 | 1710165 | 207 | 217 | 63.09 | 66.14 | 3.38 | 1010 |
| CVZ-62 | 1710166 | 217 | 227 | 66.14 | 69.19 | 2.72 | 1120 |
| CVZ-62 | 1710170 | 227 | 237 | 69.2 | 72.2 | 3.00 | 950 |
| CVZ-62 | 1710171 | 237 | 247 | 72.2 | 75.3 | 1.56 | 1030 |
| CVZ-62 | 1710172 | 247 | 257 | 75.3 | 78.3 | 3.02 | 1390 |
| CVZ-62 | 1710173 | 257 | 267 | 78.3 | 81.4 | 3.30 | 1180 |
| CVZ-62 | 1710174 | 267 | 277 | 81.4 | 84.4 | 3.20 | 1170 |
| CVZ-62 | 1710175 | 277 | 287 | 84.4 | 87.5 | 1.98 | 1430 |
| CVZ-62 | 1710176 | 287 | 297 | 87.5 | 90.5 | 3.06 | 1350 |
| CVZ-62 | 1710177 | 297 | 307 | 90.5 | 93.6 | 3.16 | 1190 |
| CVZ-62 | 1710178 | 307 | 317 | 93.6 | 96.6 | 1.88 | 1170 |
| CVZ-62 | 1710179 | 317 | 327 | 96.6 | 99.7 | 1.46 | 1510 |
| CVZ-62 | 1710180 | 327 | 337 | 99.7 | 102.7 | 2.72 | 940 |
| CVZ-62 | 1710181 | 337 | 347 | 102.7 | 105.8 | 2.68 | 1250 |
| CVZ-62 | 1710182 | 347 | 357 | 105.8 | 108.8 | 2.98 | 910 |
| CVZ-62 | 1710183 | 357 | 367 | 108.8 | 111.9 | 2.32 | 810 |
| CVZ-62 | 1710184 | 367 | 377 | 111.9 | 114.9 | 2.46 | 1040 |
| CVZ-62 | 1710185 | 377 | 387 | 114.9 | 118.0 | 2.02 | 1130 |
| CVZ-62 | 1710186 | 387 | 397 | 118.0 | 121.0 | 1.20 | 1110 |
| CVZ-62 | 1710187 | 397 | 407 | 121.0 | 124.1 | 2.94 | 1050 |
| CVZ-62 | 1710188 | 407 | 417 | 124.1 | 127.1 | 3.58 | 1070 |
| CVZ-62 | 1710189 | 417 | 427 | 127.1 | 130.1 | 2.80 | 1170 |
| CVZ-62 | 1710190 | 427 | 437 | 130.1 | 133.2 | 2.52 | 780 |
| CVZ-62 | 1710191 | 437 | 447 | 133.2 | 136.2 | 2.86 | 750 |
| CVZ-62 | 1710192 | 447 | 457 | 136.2 | 139.3 | 2.60 | 770 |
| CVZ-62 | 1710193 | 457 | 467 | 139.3 | 142.3 | 2.60 | 760 |
| CVZ-62 | 1710194 | 467 | 477 | 142.3 | 145.4 | 2.54 | 790 |
Figure 1. Zeus Property map showing a) location of current Indicated and Inferred resources at >900ppm Li cut-off; b) location of drill sites completed or in progress (seen in green) to date for the Phase V 2020 program. Proposed drill sites not yet explored indicated in white.
The samples were analyzed by ALS Global Laboratories, Vancouver, B.C. using the ME-MS61 method, which includes a four-acid digestion. The samples were accompanied by 4 QA/QC sample standards, all of which returned results within their respective normal ranges.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Ventures Inc.
Noram Ventures Inc. (TSXV:NRM)(FSE:N7R)(OTCQB:NRVTF) is a Canadian based junior exploration company, with a goal of developing lithium deposits and becoming a low-cost supplier. The Company's primary business is the Zeus Lithium Project ("Zeus") in Clayton Valley, Nevada. The Zeus Project has a current resource estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resource, and 77 million tonnes lithium at 1045 ppm lithium as Inferred Resource (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent - "LCE".
Noram's long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of Europe, North America and Asia.
Please visit our website for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Anita Algie"
Director and CFO
Office: (604) 553-2279
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE: Noram Ventures Inc.