Noram Recognizes Positive Economics for Neighbor in Clayton Valley, Nevada, and Plans for Pea Study

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[{"type":"text","content":" VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / May 27, 2020 / Noram Ventures Inc. (\"Noram\") (TSXV:NRM)(Frankfurt:N7R)(OTC PINK:NRVTF) recognizes the accomplishments of neighbor Cypress Development Corp. with their recently released Prefeasibility Study on their lithium claystone deposit, which is adjacent to Noram's Zeus lithium claystone property in Clayton Valley, Nevada. On May 19, 2020, Cypress announced the results of the study: 15,000 tonnes per day production rate; 27,400 lithium carbonate equivalent (LCE) annual production over 40+ years; Capex - $US493 million including sulfuric acid plant on-site; Opex - $US 3,392/tonne LCE; production based on a probable mineral reserve of 222 million tonnes averaging 1,141 ppm Li (1.353 million tonnes LCE); and an after-tax NPV-8% of $US 1.052 billion and IRR of 25.8%. This study is directly relevant to Noram's Zeus lithium claystone deposit (Figure 1). The Zeus lithium claystone deposit is within the same Esmeralda Formation paleo-playa lake bottom units and has nearly identical mineral and geological characteristics to that of the Cypress deposit. The favorable lithium units are effectively horizontal layers and have lateral continuity in grade for many hundreds of meters to kilometers. NI43-101 standards require stating that mineralization on one property is not necessarily indicative of mineralization on an adjacent property. Both deposits are immeaditely east of Albemarle's Silver Peak lithium brine operations, which remains the only domestic supply of lithium in the United States (Figure 1). The two deposits share the same access to infrastructure and have similar topography. The Esmeralda Formation lithium claystone units are unlithified, so mining will not require blasting. In February, Noram announced a new resource estimate for the Zeus deposit, which are given in Table 1. At a 900 ppm lithium cut-off, the Zeus deposit has 124 million tonnes averaging 1136 ppm lithium (0.749 million tonnes LCE) as indicated resources, and 77 million tonnes averaging 1045 ppm lithium (0.428 million tonnes LCE) as inferred resources. The Zeus lithium deposit is shown in plan view with a Google Maps image as the base in Figure 1. Proximity to Albemarle's Silver Peak lithium brine operation, which is currently North America's only lithium producer, is seen in this image. The deposit is thicker a...

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