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Lithium Market Finishes 2020 Strong; Noram Completes Drill Hole CVZ-65: 180ft of Claystone
VANCOUVER, BC / ACCESSWIRE / January 19, 2021 / Noram Ventures Inc. ("Noram" or the "Company...
About this update from Noram Lithium Corp
[{"type":"text","content":"Lithium Market Finishes 2020 Strong; Noram Completes Drill Hole CVZ-65: 180ft of ClaystoneVANCOUVER, BC / ACCESSWIRE / January 19, 2021 / Noram Ventures Inc. (\"Noram\" or the \"Company\") (TSXV:NRM)(FRA:N7R)(OTCQB:NRVTF) is pleased to announce that Noram continues to work towards strategically positioning the Company to benefit from the increasing demand for lithium, increasing lithium prices and recent record EV demand in Europe and China. During December, 99.5% lithium carbonate China spot prices were up 6.4%. Lithium hydroxide prices were up 0.74%. Spodumene (6% min) prices were up 0.21%. \"With increasing interest in Clayton Valley and claystone as a viable source for lithium extraction by major companies such as Albemarle and Tesla, Noram feels confident it is only a matter of time before the claystone deposits are developed\" commented Anita Algie, CFO and Director.On January 15, 2021, Fundamental Research Corp. published a new report on Noram, which is available publicly here - https://bit.ly/2LXsUmf with a target price. With more and more attention turning towards green energy and the implementation of electric cars, car companies have made significant commitments to advancing this mandate as exampled below.Volkswagen will spend $86 billion on electric carsBMW $32 BillionFord (F) $11.5 billion Ford is injecting into EV by 2022CATL will spend $5.1 billion to build a battery plantGM via a $2.2 billion investment into electric vehicles at DetroitGM $2.0 billion, TN (plus an additional $153 billion for upgrades) and that is just part of the $20 billion they plan on investing over the next 5 yearsToyota $2 billion spent by 2023Porsche $678 millionEven Harley-Davidson is getting into the mixBentley is entering the EV market by 2025 and 100% electric by 2030Apple announced it is entering the lithium game via plans to make an EV auto.What's more is that lithium is not just restricted to cars, but it will also migrate to other powered tools and vehicles. Anything that requires power; you will get a lithium solution if it makes sense.Drilling is progressing very well in the second half of Phase V. The Company completed core hole CVZ-65 at a depth of 297 feet (90.5 m). The region comprised more than 180 feet (55 m) of claystone types that have contained high lithium values in past drilling. Samples were sent to ALS Labs in North V...