Drill Results Confirm Graphite Discovery at Noram's Jumbo Property in British Columbia
Vancouver, British Columbia CANADA, February 26, 2014 /FSC/ - Noram Ventures Inc. (NRM - TSX Venture), ("Noram" or the "Company") is pleased to report that analytical results confirmed graphite mineralization in six of eight holes of Phase I exploration drilling at the Jumbo flake-graphite property (the "Property")(See location map: Figure 1: http://noramventures.com/Maps/Fig-1_Jumbo-Location.jpg).
Phase I drilling included a total of 1,295 meters (m) of core drilling completed in eight holes, with an average depth of 162m. Initial drill targets were chosen to test three separate areas; two with up to 7% graphitic carbon on surface, and the other with a strong EM conductor defined by an airborne SkyTEM survey. Five holes (J13-001 - 004 & 007) were drilled in the Big Flake showing area, 2 holes (J13-005 & 006) in the Black Fly showing area 7.9 kilometers (km) to the south, and 1 hole (J13-008) was drilled in the South Limb EM conductor 7.2 km to the southeast (See Figure 2 for drill hole locations: http://noramventures.com/Maps/Fig-2_Jumbo-DH-Location.jpg, and the table of assay results for all holes below).
The most significant intersection was in hole J13-008, drilled to test an exposure of well bedded graphitic schistose sediment within a strong airborne EM conductor. This hole returned 1.81% graphitic carbon (C) over 86.7m (true width) from 37.7m to 124.4m (end of hole), including 3.11% C over 16.3m (from 49.6 to 66.0m).
Graphite intersected in hole J13-008 is considered a new discovery in a well-bedded graphite-rich schist marked by a strong 30 - 35km long airborne EM conductor. Only one hole has been drilled into this target, the remainder of the EM anomaly unexplored. The graphitic lithology projects up dip to surface at 37 degrees to the southwest. The projected graphitic mineralization at surface is at least 170m wide, however may extend to the southwest and to the northeast as well.
The hangingwall of the upper, higher-grade interval (2.49% C over 40.9m) in hole 008 projects to surface roughly at the north side of the Arrow Park road at 860m elevation. A calculated theoretical surface trace of this horizon coincides closely with the prominent EM conductor, and there is little doubt that it is related to the graphitic sequence intersected in the drill hole. The width of the EM anomaly suggests that the graphitic sequence is significantly thicker than the interval currently drill tested. Additional drilling is required to better understand the size and economic potential of this new graphite discovery.
Assay intervals from the all drill holes include:
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DDH From To* Core Length (m) C %
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J13-001 5.5 21.1 15.6 1.51
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J13-002 12.9 38.9 26 1.49
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J13-003 48.8 55.6 6.8 1.90
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and 160.4 167.9 7.6 1.90
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J13-004 No significant intersections
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J13-005 23.3 68.0 44.8 1.04
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J13-006 No significant intersections
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J13-007 16.6 26.6 10 1.54
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J13-008 37.7 124.4* 86.7 1.81
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including 37.7 78.7 40.9 2.49
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" 49.6 66.0 16.3 3.11
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*Indicates the end of the drill hole.
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Quality Assurance/Quality Control:
All core samples were logged and split with half sent to the lab for analysis and half securely stored for future reference. SGS Mineral Services (Lakefield, Ontario) conducted the primary sample preparation and analytical work, which included crushing to 10 mesh and pulverizing a 250 gram split of the samples to 200 mesh. Two 0.1 gram aliquots were ashed at 500 degrees C and digested in dilute perchlorate acid (HClO4). One aliquot had CO2 content determined by coulometric analysis (electrolysis), and the second was analyzed for total carbon using a Leco 844. Graphitic carbon is calculated as the difference between total carbon in ash (%) and carbon as CO2 in ash (%).
After receipt of initial assays from SGS, 5% of coarse reject samples were selected for check assays at AGAT Laboratories (Mississauga, Ontario) and ALS Laboratories in Vancouver, B.C. Both labos used the industry standard graphitic carbon analytical technique consisting of a high temperature roast to burn off organic carbon, followed by acid digestion to drive off carbon in carbonate. The resulting residue was analyzed for carbon using standard Leco techniques. There is good correlation of results from all laboratories.
About the Jumbo Property:
Noram has an option to earn a 100% interest in the large 10,539 hectare (>100 square km) Jumbo property, where there is no record of mineral exploration prior to Noram's work that commenced in 2012. The Property is located in the Slocan Mining Division ~15km southwest of the town of Nakusp, BC on the west side of Upper Arrow Lake (See map: Figure 1: http://noramventures.com/Maps/Fig-1_Jumbo-Location.jpg).
Graphite is an industrial mineral, and ease of access and ease of extraction are equally important parameters as grade and purity for determining the economic viability of an exploration target. A network of logging roads crisscross the Property and a secondary road connects the property to BC Hwy 6, located ~20km to the south. Power and water for any industrial endeavour are readily available. A labour force with mining experience is well established in most towns and cities throughout the Nakusp-Arrow Lakes region, which has a rich history of mining that dates back to the 1860s. Rail service to the port of Vancouver is available 80km to the north in Revelstoke, BC.
John R. Kerr, P.Eng. and independent Qualified Person as defined in NI 43-101, has reviewed and approved the technical content of this news release on behalf of the Company.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM) is a Canadian based mineral exploration company with a project generator business model. The Company's strategy is to identify and acquire early-stage properties and create value through the initial drilling and discovery phase. Noram's current portfolio includes four properties in the Kootenay region of southern British Columbia: the Amazing Grace gold property, the Jumbo flake-graphite property, the Kokanee flake-graphite property and the Silver Hill molybdenum-lead property.
For further information, please visit www.noramventures.com.
For corporate, media, or investor communications contact:
Greg Lytle, Direct: (604) 839-6946,
Email: info@noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "David W. Rees"
President & Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding exploration work on the properties. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, and (7) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
To view the press release as a PDF, please click on the following link:
http://www.usetdas.com/pr/noram02262014.pdf
Source: Noram Ventures Inc. (TSX-V: NRM) http://www.noramventures.com
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