VANCOUVER, BC / ACCESSWIRE / November 29, 2023 / Noram Ventures Inc. ("Noram") (TSXV:NRM)(Frankfurt:N7R)(OTCQB:NRVTF) is pleased to announce the completion of the first of its 10 hole drill program; referred to as CVZ-82. CVZ-82 was drilled to a depth of 555ft (169.2m), with an intersection of approximately 338.5 ft (103.2m) of favourable claystones and volcanics.
This program is designed to:
- Better define the high-grade core of the currently known lithium clay deposit.
- Test the southwest extension of the high-grade zone.
- Test whether there exists a second, deeper lithium clay deposit beneath the currently known deposit.
- Further define the structures and bedding angle of the sediments in the projected northwest pit area.
- Test the mineralization depth and potential location of a possible mineralizing structure on the southeast side of the deposit.
- Obtain geotechnical information.
Figure 1 - BRE geologist washing the CVZ-82 core prior to logging and splitting the coret for assay.
Core hole CVZ-82 was completed by contract drilling company Titan Drilling of Elko, Nevada, at a depth of 555 feet (169.2 m), one of the deepest holes completed to date on the property. As such, it intersected some lithologies not previously encountered in the past 6 drilling campaigns because they occur deep in the stratigraphic section. The rock types that were new to the program were of volcanic origin and included some rock types interpreted as lapilli tuffs. The tuffs are believed to be the primary source of lithium within the mudstones. Also new to the program were some basal lithified gravels in the deepest parts of the hole (Figure 1). The gravels are thought to be a basal unit on top of the Paleozoic "basement" rocks, but this has not yet been confirmed. The program is being managed by geologists and engineers from Big Rock Exploration LLC ("BRE") of Minneapolis, Minnesota, USA.
With the completion of CVZ-82, the drill has moved to CVZ-83 and drilling is in progress. Sampling of the core using an industry standard QA/QC protocol is underway. Samples are to be delivered to ALS Laboratories in Reno, Nevada for assaying. Assay results are pending.
Figure 2 - Generalized strip log of CVZ-82 showing lithologies encountered in the core.
"While our program is focused on understanding the exciting theory of the presence of a second layer of mineralization at depth, we also included several vital step-out holes. These holes are crucial to validating our new geological model and supporting the size and extent of the resource we are dealing with. At this point we have just revealed and begun to understand the tip of the iceberg" stated Sandy MacDougall, Executive Chairman and Director.
Figure 3 - Google Earth image with the current and planned hole for the Zeus Phase VII drilling program.
For additional information:
Contacts:
In Europe: VP Corporate Development simon.studer@noramlithium.com Elsewhere: Investor Relations at ir@noramlithiumcorp.com
Website: www.noramlithiumcorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Executive Chairman
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for Noram.
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.
Cautionary Statement Regarding Forward Looking Information
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, plans for ongoing development of the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes, results of further exploration work, and availability of capital on terms acceptable to the Company. 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 Lithium Corp.
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