VANCOUVER, BC / ACCESSWIRE / January 25, 2024 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is providing a second update from its Phase VII drilling program underway at is 100% owned Zeus Lithium Project ("Zeus" or the "Project"), located in Clayton Valley, Nevada.
In November 2023, the Company announced a ten-hole drill program at Zeus which was designed to test for the presence of a second high-grade layer, increase the drill density in the high-grade core of the deposit and complete step-out drilling to the south-east and north-west to validate the geological model (see news release dated November 21, 2023).
Assay results from the first two holes of the program, CVZ-082 and CVZ-083, were previously released (see news release dated January 16, 2024) and showed step out drilling to the north-west has validated the geological model and expanded upon the known high-grade core of the deposit.
Assay results from three further holes, CVZ-087, 088 and 089, have been received and are reported here. These holes were designed to test for the presence of a second high-grade layer, as well as increase the drill density in the high-grade core of the deposit. All three holes intersected wide bands of favourable claystone and mudstones. Highlights from the assay results from the three holes are as follows:
Highlights:
-
CVZ-087
- 66.3 meters at 1,153 ppm Li from 18.0 meters to 84.3 meters, including
- 6.8 meters at 1,783 ppm Li from 36.3 meters to 43.1 meters.
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CVZ-088
- 64.6 meters at 1,080 ppm Li from 0 meters to 64.6 meters; including
- 3.3 meters at 1,705 ppm Li from 4.0 meters to 7.3 meters, and
- 11.0 meters at 1,330 ppm Li from 12.0 meters to 23.0 meters.
-
CVZ-089
- 55.4 meters at 1,074 ppm Li from 8.5 meters to 63.9 meters; including
- 2.9 meters at 1,302 ppm Li from 22.2 meters to 25.1 meters.
- Deeper drilling in the high-grade core of the deposit has extended the high-grade mineralization, concentrated in the black, sulphidic clay layer below previous drilling depth.
"The second set of results from the Phase VII drill program further proves our geological thesis for the Zeus deposit" stated Greg McCunn, CEO of Noram. "The extension of the high-grade mineralization in areas where there was previously only shallow drilling is expected to add further high-grade to our mineral resource estimate and mine plan."
The geological thesis of the formation of the Zeus deposit developed following an extensive surface mapping and core relogging exercise in 2023 is being confirmed by assay results from new drilling in the high-grade core. A strip log of hole CVZ-087 highlights the concentration of lithium and other elements in the black, sulphidic clay layer, with corresponding addition of potassium and depletion of sodium (Figure 1).
Figure 1 - Strip log for hole CVZ-087
A geological cross section showing the location of holes CVZ-087, -088 and -089 in relation to the high-grade core of the deposit is shown in Figure 2. CVZ-033 was a shallow hole drilled during a previous phase of drilling which ended in high-grade mineralization with the final samples on the shallow hole averaging 2,380 ppm lithium. Nearby, CVZ-087 has confirmed this high-grade mineralization and shown that it extends a further 10-15 meters in depth.
Figure 2 - Geological cross section of the Zeus deposit looking northwest.
For additional information:
Investor Relations at ir@noramlithiumcorp.com
Phone: 604-553-2279
Website: www.noramlithiumcorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Cyrus Driver
Interim Chair
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. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital.
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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