Noram Ventures Inc.: Updated Resource Estimate Significantly Expands Noram’s Zeus Lithium Deposit, Clayton Valley, Nevada

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[{"type":"text","content":"VANCOUVER, BC / ACCESSWIRE / February 21, 2019 / Noram Ventures Inc. is pleased to report a new inferred resource estimate for the Zeus lithium property, which is adjacent to Albemarle's lithium brine producer in Clayton Valley, Nevada. At a 900 ppm lithium cut-off, the new inferred resource is 145 million tonnes at a grade of 1145 ppm lithium; more than 8.5x the previously reported estimate. In 2018, Noram completed two additional phases of drilling, (the Phase II and Phase III drill programs), which are newly incorporated into the new inferred resource calculation. In total, 60 drill holes have been included within the resource area. The new inferred resource estimate is 145 million tonnes at a grade of 1145 ppm lithium, at a cut-off grade of 900 ppm Li (Table 1). Sensitivity analysis at 300 ppm Li cutoff and 600 ppm Li cutoff are also given in Table 1. While the updated NI 43-101 report is not yet finalized, it is expected within the next 45 days and the Company's Qualified Person (Bradley C. Peek) feels sufficiently certain that these preliminary calculated values are reasonable and will not vary significantly from the final NI 43-101 report values.   Cutoff Grade 300 ppm Li – Sensitivity Analysis 600 ppm Li – Sensitivity Analysis 900 ppm Li: Mineral Resource Estimate 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 Table 1. Inferred resources for the Zeus lithium deposit, Clayton Valley, Nevada This expanded resource estimate for the Zeus lithium deposit is 8.5 times the tonnage of the previous resource reported in 2017 and at a higher grade, (the previous inferred resource reported 17 million tonnes at 1060 ppm Li: see Noram press release Nov. 21, 2017; and Peek and Spanjers, 2017). At a cut-off grade of 900 ppm, the grade of 1145 ppm lithium corresponds to a lithium carbonate equivalent grade of 0.61 wt.% Li2CO3, and the contained lithium corresponds to 0.88 million tonnes lithium carbonate equivalent (1 kg Li = 5.323 kg Li2CO3). Current lithium carbonate (99.5% purity) prices in China are $12,500 - $14,500 per tonne (as of Feb. 9, 2019: www.metalsbulletin.com). The inferred resource reported here is considered an update of the inferred resource reported in Peek and Spanjers (2017) and was estimated using a block model and the inverse dist...

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