Noram Ventures (TSXV: NRM) updated the market this morning on its 2020 exploration program by releasing its proposed drill plan for the Zeus lithium claystone property, located in the Clayton Valley of Nevada. The plan consists of a total of twelve drill holes.
The fall 2020 drill program will look to expand the current resource that the company has for the property. The resource that exists for the property consists of a total of 2.5 square kilometres on the Zeus lithium property, which is estimated to host 0.75 million tonnes of LCE as indicated resources and 0.43 million tonnes LCE as inferred resources based on a 900 ppm cut-off. Exploration conducted this fall will cover an area in equal size as the company looks to expand the size of the area included within its current resource estimate.
Drilling locations are based on geological mapping of the property along with previous sampling conducted on the property. Claystone units are known to be present across the property, located either at the surface or under a thin veneer of alluvium.
“At Noram, we look forward to expanding our Zeus lithium claystone deposit with this Fall drill campaign. We see our neighbor Cypress Development with a new and expanded resource estimate for their claystone project next door, after posting a Pre-Feasibility Study earlier this year. We note that Pure Energy Minerals is advancing their lithium brine project immediately south of Albemarle’s Silver Peak brine property. Clayton Valley has a sixty-year long history of producing lithium for the chemical and ceramics industries and now for the lithium ion battery and electric vehicle industries. We believe these projects have potential to continue this history of lithium production.”
C. Tucker Barrie, President and CEO of Noram Ventures
Noram Ventures last traded at $0.20 on the TSX Venture.
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