Business
Noram Ventures Announces Filing Updated Resource Estimate for Its Zeus Lithium Project, Clayton Valley, Nevada, USA
VANCOUVER, BC / ACCESSWIRE / March 28, 2019 / Noram Ventures Inc. ("Noram") (TSX - Venture: N...
About this update from Noram Lithium Corp
[{"type":"text","content":"Noram Ventures Announces Filing Updated Resource Estimate for Its Zeus Lithium Project, Clayton Valley, Nevada, USAVANCOUVER, BC / ACCESSWIRE / March 28, 2019 / Noram Ventures Inc. (\"Noram\") (TSX - Venture: NRM / Frankfurt: N7R / OTCPINK: NRVTF) has filed its recent NI 43-101 Technical Report: \"Updated Inferred Lithium Mineral Resouce Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA\" on its SEDAR Issuer Profile page.The report incorporates the results of three phases of drilling from 2016 to 2018, including sixty drill holes. The reported Inferred Mineral Resource estimate indicates zones with higher lithium contents continue from the resource to the south and east and that the higher grade parts of the deposit remain open at depth. Drilling only tested approximately one third of the area covered by the Zeus claim block.The model resource estimate has an Inferred Mineral Resource of approximately 330 million metric tonnes at a grade of 858 ppm Li, or 1.5 million tonnes of lithium carbonate equivalent. Sensitivity analyses for the modeled deposit are listed in Table 1.Table 1 - Sensitivity analysis at various cutoff grades. Cutoff Grade Inferred Resource @ 300 ppm Sensitivity @ 600 ppm Sensitivity @ 900 ppm Tonnes (1000s) 330,670 251,526 145,168 Grade (ppm) 858 984 1145 Contained Li (kg) 283,796,297 247,569,218 166,238,452 The sensitivity analysis for a 900 ppm Li cutoff yields 145 million metric tonnes at a grade of 1145 ppm Li in a contiguous volume in the northwest part of the claim block. Noram Ventures' management is pleased with this resource estimate. The company looks forward to upgrading and expanding this resource with infill and step-out drill holes in 2019; and then integrating the future drill data into a Preliminary Economic Assessment that will also address lithium extraction methodology and mining-related economics. Initial leaching tests conducted in 2018 determined that the Zeus lithium clays are non-refractory and yield >80% of their lithium at moderate temperatures and moderate amounts of sulfuric acid.The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.About Noram...