Noram Ventures (TSXV: NRM) issued a quick update this morning, announcing that it has completed drill hole CVZ-66 as part of its ongoing drill program. The hole is significant for the company, in that it was drilled to a depth of 462 feet, marking one of the deepest drill holes to date on the property, with 301 feet of the hole encountering favourable claystones.
Furthermore, the company noted that the drilling stopped within blue claystone, which has previously shown to host large amounts of lithium in past holes on the property. Drilling in the region of this hole had not previously been conducted, resulting in the data from this hole likely having a significant impact on the resource estimate for the property.
Claystone was first encountered at a depth of 161 feet, with the company intersecting olive claystone at this level. The company then encountered blue claystone at 213 feet, with multiple variants of such claystone then being encountered through to a depth of 462 feet, at which point the drill stopped. Samples have since been sent for assaying on a rushed basis.
“This is an important drill hole for Noram. The Company has not previously drilled in this area, nor at these depths; consequently, the results will significantly impact the resource modelling. From visual inspection alone, it appears that CVZ-66 once again confirms our theories on the uniform presence of the lakebed claystone deposits over a huge area or Noram’s claim block.”Brad Peek, Consulting Geologist
Noram Ventures last traded at $1.05 on the TSX Venture.
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