Noram Ventures (TSXV: NRM) has seen continued success early on in its current drill program. After updating the market earlier this week with the news that it has hit visible lithium hosted clay in its first drill hole, the company announced this morning that upon completion, that same hole has drilled one of the thickest intersections to date.
The hole, CVZ-61, was drilled to a depth of 127 metres in total, with the company intersecting claystone for a length of 91 metres within the drill. Assays are not currently available for the drill hole, but have been sent off for rushed analysis based on the early results seen by the company. The data was based on comparisons of similar drill holes nearby, wherein the company compared lithium grades to that of the stratigraphics.
This comparison can be seen below, with the blue column indicating the levels of lithium content within core based on this data. The layers within the diagram meanwhile represent the beds of claystone found within the drill core that have shown lithium content historically. The data comparisom is from hole CVZ-53, which is located 350 metres to the north.
It is currently unclear whether the southeast side of the fault that lies under Noram’s Zeus property in the Clayton Valley of Nevada is raised or lowered relative to the northwest side. The company intends to use the data collected from the drilling to better delineate the resource, while also conducting feasibility studies for the project.
“I am very pleased with the results of core hole CVZ-61. It was drilled in an area with no previous drilling data and intersected one of the thickest sections of claystone seen in Noram’s drilling to date. This hole bodes well for the remaining holes in this Phase V drilling program in which all holes are expected to add significantly to the property’s lithium resource.”
Brad Peek, Consulting Geologist
Noram Ventures last traded at $0.265 on the TSX Venture.
Sponsored · PTX Metals Inc.
FULL DISCLOSURE: Noram Ventures is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Noram Ventures on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
