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Noram Ventures and Alba Minerals Sign Letter Of Intent to Advance Clayton Valley and Hector Lode Lithium Brine/Clay Projects
Noram Ventures Inc. (“Noram”) ((TSX-V: NRM Frankfurt: N7R NRVTF:US) is pleased to announce the signing of a Letter of Intent (the “LOI”) with Alba Minerals Ltd.
About this update from Noram Lithium Corp
[{"type":"text","content":"Noram Ventures Inc. (“Noram”) ((TSX-V: NRM Frankfurt: N7R NRVTF:US) is pleased to announce the signing of a Letter of Intent (the “LOI”) with Alba Minerals Ltd. (“Alba”) (TSX-V: AA.H AXVEF:US) to acquire up to 50% of Noram’s wholly-owned subsidiary Green Energy Resources Inc., which holds lithium brine/clay claims at Clayton Valley, Nevada and the Hector Lode claims in San Bernardino County, California. Drilling to Begin in December at Clayton Valley Upon exercising of the initial option payment by Alba, Green Energy Resources will immediately begin a 55-hole drill program on the Clayton Valley North project. This program is designed to demonstrate the existence of a valuable lithium deposit within the property’s prospect area. Permits and essential preparation have been completed for a target encompassing nearly four square miles. Results from the Phase 1 drill program will be incorporated into a resource estimate. An NI 43-101 Technical Report was completed on the 17,738-acre (7,178-hectare) Clayton Valley Property in October of 2016. The report is available on SEDAR and on Noram’s website at www.noramventures.com. Located Near Nevada Lithium Producer The perimeter of the Clayton Valley claims is located within 1 mile (1.6 kilometers) of Albemarle Corporation’s lithium brine operations. Lithium is produced at Albemarle’s plant from deep wells that pump brines from the basin beneath the Clayton Valley playa. The plant is the only lithium producer in the United States and has been producing lithium at this location continuously since 1967. “This joint venture and its key properties establish Alba as a serious and major player in the lithium exploration sector,” said Alba Chairman Sandy MacDougall. “Not only are we launching a major drill program in Nevada’s prime lithium district, we are also preparing to explore our holdings in Salta Province, Argentina, adjacent to world-class lithium projects held by Lithium Americas and Orocobre in one of the world’s leading lithium producing regions.” Hector Lode Lithium Project The joint venture also includes Green Energy’s 100%-owned Hector Lode property encompassing 116 lithium mineral claims (2,320 acres) in San Bernardino County, California, where exploration has confirmed the presence of lithium in hectorite clays. Material is currently being mined on adjacent ground as bentonite...