Noram Ventures Inc. [NRM-TSXV; NRVTF-OTCQB; N7R-FSE] reported results from core hole CVZ-68 are the final assay results from its Phase 5 drilling program at its Zeus Lithium Project in the Clayton Valley of Nevada.
The hole provided what is believed to be the best assay results for the Zeus property to date. It contained 398 feet (121.0 m) from 109-506 feet (33.2-154.2 m) at an average grade of 1018 ppm Li (lithium). This interval included 250 feet (76.2 m) from 216-466 feet (65.8-142.0 m) with an average of 1,151 ppm Li.
CVZ-68 was drilled to a total depth of 506 feet (154.2 m). It passed through 125 feet (38.1 m) of alluvial gravel before entering the Tertiary Esmeralda Formation.
“This was a phenomenal hole and a fitting end to our very successful Phase V drilling program. An updated NI 43-101 compliant resource calculation which adds in the Phase IV and V drill holes is being prepared and should be available during the next few weeks.” stated Brad Peek, MSc, CPG, and Qualified Person under NI 43-101 guidelines.
The company’s primary business is the Zeus Lithium Project in Clayton Valley, southwest Nevada. The Zeus Project has a current resource estimate of 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes lithium at 1,045 ppm lithium as Inferred Resources (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.