ORIGINAL: Noram Lithium - Final Phase VII Drill Results for Zeus
2024-03-04 09:23 ET - News Release
VANCOUVER, BC / ACCESSWIRE / March 4, 2024 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is providing a third and final update from its Phase VII drilling program underway at is 100% owned Zeus Lithium Project ("Zeus" or the "Project"), located in Clayton Valley, Nevada.
Highlights:
- CVZ-085
- 86.3 meters at 1,108 ppm Li from 19.2 meters to 105.5 meters, including
- 9.2 meters at 1,671 ppm Li from 55.6 meters to 64.8 meters.
- CVZ-086
- 98.0 meters at 1,125 ppm Li from 1.1 meters to 99.1 meters, including
- 2.8 meters at 2,234 ppm Li from 30.0 meters to 32.8 meters, and
- 8.5 meters at 1,698 ppm Li from 37.8 meters to 46.3 meters.
- CVZ-090
- 97.3 meters at 1,043 ppm Li from 2.5 meters to 99.8 meters, including
- 3.0 meters at 1,620 ppm Li from 43.6 meters to 46.6 meters, and
- 5.2 meters at 1,762 ppm Li from 53.8 meters to 59.0 meters.
- CVZ-091
- 88.5 meters at 1,072 ppm Li from 6.6 meters to 95.1 meters, including
- 7.7 meters at 1,689 ppm Li from 48.5 meters to 56.2 meters, and
- 3.8 meters at 1,579 ppm Li from 64.0 meters to 67.8 meters.
- Strong continuity +1,000 ppm Li from surface down to 100 meters in the high-grade core.
- Consistent layer of high-grade (+1,500 ppm Li) material 2 to 10 meters thick over 2.5 kilometers of strike length along the high-grade core.
"The final set of results from the Phase VII drill program further proves our geological thesis for the Zeus deposit and has expanded the high-grade mineralization" stated Greg McCunn, CEO of Noram. "The high-grade core of the deposit shows excellent continuity over a volume of material 1km wide x 2.5km long and 100m deep, starting from surface. This volume will form the basis for our mine plan for the project engineering going forward, following an update to the Mineral Resource Estimate being compiled by SRK Consulting."
In November 2023, the Company announced a ten-hole drill program at Zeus which was designed to test for the presence of a second high-grade layer, increase the drill density in the high-grade core of the deposit and complete step-out drilling to the south-east and north-west to validate the geological model (see news release dated November 21, 2023). The drilling program was completed in late January with 10 holes drilled for a total of 2,060 meters of diamond core drilling (see Figure 1 for hole locations and Figures 2 and 3 for sections through the deposit).
Assay results from the first two holes of the program, CVZ-082 and CVZ-083, were previously released (see news release dated January 16, 2024) and showed step out drilling to the north-west has validated the geological model and expanded upon the known high-grade core of the deposit.
Assay results from three further holes, CVZ-087, 088 and 089, were released (see news release January 25, 2024). These holes showed deeper drilling in the high-grade core had extended the high-grade mineralization, concentrated in the black, sulphidic clay layer below previous drilling depth.
Assay results from the four holes highlighted above confirm and expand on the previously announced holes in the high grade core.
With all results now received, the Company expects to update its Mineral Resource Estimate based on the Phase VII drilling and the geological modelling work completed in Q3 2023.
Figure 1 - Map showing location of the drill holes
and cross sections in Figures 2 and 3 below.
Figure 2 - Geological cross section of the Zeus deposit North-West to South-East.
Figure 3 - Geological cross section of the Zeus deposit South-West to North-East.
For additional information:
Investor Relations at ir@noramlithiumcorp.com
Website: www.noramlithiumcorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Cyrus Driver
Interim Chair
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.
Qualified Person and QA/QC
The technical information contained in this news release has been reviewed and approved by Brad Peek, M.Sc., CPG, who is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and also Vice President of Exploration for Noram.
The sampling of, and assay data from, the drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program designed to follow industry best practice. Drill core samples are selected by the geologists and cut in half at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary from 0.5 to 1.5 metres in length depending on the geological observations. A formal chain-of-custody procedure was adopted for security of samples until their delivery at the laboratory. ALS Laboratories Limited (located in Reno, Nevada) was utilized for assay analyses. Noram inserts blanks and certified reference standards in the sample sequence for quality control.