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Noram Lithium Files NI43-101 Technical Report for Zeus Lithium Project
VANCOUVER, BC / ACCESSWIRE / March 20, 2023 / Noram Lithium Corp. (" Noram " or the " Company ")...
About this update from Noram Lithium Corp
[{"type":"text","content":"Noram Lithium Files NI43-101 Technical Report for Zeus Lithium ProjectVANCOUVER, BC / ACCESSWIRE / March 20, 2023 / Noram Lithium Corp. (\"Noram\" or the \"Company\") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announced today that it has filed on SEDAR a National Instrument 43-101 (\"NI 43-101\") technical report (the \"Report\") titled \"Updated Resource Estimate Zeus Lithium Project\". The technical report supports the updated Mineral Resource Estimate announced on January 30, 2023 and is available for review on both SEDAR (www.sedar.com) and the Company's website (www.noramlithiumcorp.com). There are no material differences in the mineral resources reported in the news release of January 30, 2023 and those described in the report.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 and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.About the Zeus Project (100% Noram)The Zeus Lithium Project contains a Measured and Indicated resource estimate of 5.2 Mt Lithium Carbonate Equivalent (\"LCE\", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.In December 2021, a robust PEA2 indicated the Project could produce an annual average of 31,900 tonnes of Lithium Carbonate for supply to battery manufacturers with a modelled mine life of 40 years (resources support a +100 year mine life). The PEA outlined a US$528 million capital cost to construct the Project with a robust after-tax NPV(8%) of US$1.3 billion and an IRR of 31% using US$9,500/tonne LCE pricing. The PEA indicates an after-tax NPV(8%) of US$2.7 billion and an IRR of 52% at US$14,250/tonne LCE pricing. Note that the current daily prices have increased to over US$45,000/tonne LCE.Please visit our web site for further information: www.noramlithiumcorp.com.Footnote1 Updated Resource Estimate Zeus Project, ABH E...