Mr. Zen
1 year ago
Noram Lithium Announces Significant Increase in Mineral Resources at The Zeus Lithium Deposit
Tuesday, January 31, 2023 2:00 AM
Noram Lithium Corp.
https://noramlithiumcorp.com/
Company Update
VANCOUVER, BC / ACCESSWIRE / January 31, 2023 / Noram Lithium Corp. (" Noram " or the " Company ") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announces a significant increase in its estimated mineral resources at the Zeus Lithium Project, following the completion of the Phase VI drill program during the second quarter of 2022 (see Table 1 for the 2022 phase VI drill highlights).
Highlights of the Updated Resource Estimate
An increase of 190% in Measured and Indicated ("M&I") lithium carbonate equivalent ("LCE") Resources from the August 2021 Mineral Resource Estimate.
M&I Resources increased to 5.17 million tonnes ("Mt") LCE (1,034 Mt at 941 parts per million lithium ("ppm Li")) at a 400 ppm Li cut-off grade.
Substantial Inferred Resources remain from the 2022 Phase VI drill program.
Inferred Resources are 1.09 Mt LCE (235 Mt at 871 ppm Li) at a 400 ppm Li cut-off grade.
Near Surface = Low Strip Ratio. The majority of the deposit occurs at or near the surface, resulting in relatively low mining costs. Results from the Preliminary Economic Study ("PEA") 1 indicate that the life of mine strip ratio would be ~0.07:1 (waste:ore).
High level of confidence in the deposit modelled given the density of the drill program with 82 holes drilled to-date. All holes were core holes for more precise sampling and stratigraphic correlations.
High grade core (60 meters thick x 1.2 kilometers wide x 3.0 kilometers long) represents an opportunity for optimizing the mine plan. At a 1,200 ppm Li cut-off the Measured and Indicated Resources total 1.2 Mt LCE (169 Mt at 1,326 ppm Li).
"The updated mineral resource estimate, with 82 drill holes completed to-date, highlights that Noram's Zeus Lithium Project is exceptionally well positioned in the United States amongst its peer deposits in terms of grade and contained Lithium Carbonate Equivalent," stated Greg McCunn, Noram's CEO. "The high-grade core of the deposit outcropping at surface provides a significant opportunity to optimize the project mine plan and enhance value. With a strong treasury and a strengthened technical team, we are expecting to move aggressively in 2023 to further de-risk the project with continued metallurgical testing and completion of a Prefeasibility Study."
The Zeus Lithium Project as shown below has a higher-grade core to the deposit which outcrops at surface. Mine plan optimization is currently underway looking at options for a smaller high-grade pit which could support a 15-20 year mine life.
Figure 1 - Resource Model Plan View; colours represent Li grades as indicated on the right.
Noram Lithium Corp., Tuesday, January 31, 2023, Press release picture
As shown in Figure 2 the Phase VI drilling provided the drill density to convert previously classed Inferred Resources into Measured and Indicated Resources. The remaining Inferred Resources shown have the potential to be converted into Measured and Indicated Resources with further drilling.
Figure 2 - Resource Classification Plan View; colours represent resource categories
Noram Lithium Corp., Tuesday, January 31, 2023, Press release picture
Figure 3 - Section A-A' Highlighting extensive continuity of high grade lithium sedimentary layers.
Noram Lithium Corp., Tuesday, January 31, 2023, Press release picture
The Company expects to file an NI 43-101 compliant technical report on SEDAR no later than March 17, 2023.
Mineral Resource Estimate Preparation
The Mineral Resource estimate has been prepared by Damir Cukor, P. Geo of ABH Engineering in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.
QA/QC
To ensure reliable sample results, the Company has a rigorous QA/QC program that monitors the chain-of-custody of samples and includes the insertion of blanks and certified reference standards at statistically derived intervals within each batch of samples.
All samples were sent to ISO-17025 accredited ALS Laboratories in Reno, Nevada and North Vancouver, BC for analysis. ALS is a public company listed on the Australian stock exchange and is entirely independent of Noram. All samples were prepared using ALS' PREP-31 sample preparation process, which is presented in the ALS Fee Schedule as: "Crush to 70% less than 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns." Each sample was then analyzed using ALS' ME-MS61 analytical method which uses a Four Acid Digestion and MS-ICP technologies. All samples were analyzed for 48 elements. Samples were kept secure until shipped to the ALS lab in Reno, picked up by the ALS lab in Reno or shipped via FedEx to ALS in North Vancouver.
Qualified Persons
The technical information contained in this news release has been reviewed and approved by:
Damir Cukor, P. Geo., who is an Independent Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects , with ABH Engineering Inc., consultants to Noram Lithium.
Brad Peek, M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects , and also Vice President of Exploration for Noram Lithium.
Investor Relations Services
The Company's News Release dated November 30, 2022 and titled ‘Noram Highlights Milestones During 2022' stated that Noram had engaged Native Ads, Inc. an arms-length party, to provide investor relations services. The services commenced in December 2022 pursuant to a consulting agreement dated November 23, 2022, and the Company agreed to and paid upfront the fees totaling $90,000 USD for an initial service period of 6 months.
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. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded to advance through to the Definitive Feasibility Study.
The Zeus Lithium Project contains a current 43-101 measured and indicated resource estimate of 5.2 Mt LCE (1034 Mt at 941 ppm lithium), and an inferred resource of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off.
In December 2021, a robust PEA 1 indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). The PEA indicates an After-Tax NPV (8%) of approximately US$2.67 Billion and an IRR of 52% at US$14,250/tonne LCE. Note that the current daily prices have increased to over US$70,000/tonne LCE.
Please visit our web site for further information: www.noramlithiumcorp.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder and Chairman
C: 778.999.2159
For additional information please contact:
Greg McCunn
Chief Executive Officer
greg@noramlithiumcorp.com
C: 778.991.3798
Footnote
1 Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the intended timing for filing of a technical report in respect of the Zeus Lithium Project, intended testing and project work to completed in 2023 and the potential to complete a prefeasibility study for the project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the ability of third-parties to complete the preparation work necessary for the filing of a technical report, access to the project and completion of the necessary testing and analysis work to prepare a prefeasibility study and receipt of any required regulatory or governmental approvals in connection with ongoing work on the project. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Noram Lithium Corp.
Topic:
Company Update
Mr. Zen
1 year ago
VANCOUVER, BC / ACCESSWIRE / January 13, 2023 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announces that Peter A. Ball, President and Chief Operating Officer of Noram will be leaving the Company effective January 31, 2023 following a hand-over period to Noram's new CEO, Greg McCunn.
"On behalf of the Board of Directors, I would like to thank Peter for his hard work and dedication over the past year and wish him well in his future endeavours," stated Mr. Sandy MacDougall, Founder and Executive Chairman of Noram. "With Mr. McCunn now in place as our new Chief Executive Officer, we are looking forward to an exciting year for Noram".
Noram Lithium's Current Management Team:
Mr. Greg McCunn, Chief Executive Officer. Mr. McCunn brings 30 years of extensive experience in mining in both the base metal and precious metal industries. A Professional Engineer with an MBA, Mr. McCunn has led multiple junior mining companies from the exploration stage through the transition to project development, permitting, financing, construction and into operations. He was formerly the CEO of a number of TSX and NYSE listed public companies including Alio Gold and Galiano Gold and has over a decade of experience as a Chief Financial Officer. As an executive, he has raised over $600 million in equity and debt financing from the Canadian and US capital markets, completed over $1 billion in merger and acquisition transactions, and put three mines into production on three different continents.
Ms. Anita Algie, Chief Financial Officer. Ms. Algie has over 17 years of experience in management, listings, compliance, corporate structure and development for exploration and resource-based public companies. She is the former President, CEO and Director of American Lithium Corp. (LI-TSXV) and First Cobalt Corp. (FCC-TSXV) and has served on numerous boards during her career in the public markets and specializes in sourcing, acquiring and developing non grass roots properties. Ms. Algie has also successfully completed several CPC Qualifying Transactions with the TSX Venture Exchange. She has been the CFO of Noram since 2018.
Mr. Zen
1 year ago
VANCOUVER, BC / ACCESSWIRE / January 4, 2023 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM )(OTCQB:NRVTF)(Frankfurt:N7R) announces that, effective immediately, the Board of Directors has appointed Greg McCunn as Chief Executive Officer to lead the Company through the next stages of development at its wholly-owned high grade Zeus Lithium Project in Clayton Valley, Nevada. Noram's Founder and current Chief Executive Officer, Sandy MacDougall, will continue with the Company as Chair of the Board of Directors.
"The previous 12 months have been incredibly productive for the Company" stated Mr. MacDougall. "On the back of a positive Preliminary Economic Assessment on the Zeus Project, we started 2022 with a strategic financing that has put the Company in a strong financial position with approximately CAD$14 million in the treasury at calendar year end and no debt. During the year we completed a successful infill drilling program consisting of 12 drill holes which all intersected high-grade lithium over significant lengths, and from which we anticipate a significant conversion of Inferred Resources to Measured and Indicated".
"With the Company now at a critical inflection point, it is the right time to bring in Mr. McCunn as CEO. He is a proven leader with a strong technical background in hydrometallurgical processing. His expertise and experience in mine development will be vital in the continued de-risking of the Zeus Project and re-rating the Company. I am excited to be taking on the roll of Board Chair and have the utmost confidence in Greg and the team to fulfill my vision of developing a world-class lithium project in Nevada".
Greg McCunn brings thirty years of extensive experience in mining in both the base metal and precious metal industries. A Professional Engineer with an MBA, Mr. McCunn has led multiple junior mining companies from the exploration stage through the transition to project development, permitting, financing, construction and into operations. He was formerly the CEO of a number of TSX and NYSE listed public companies including Alio Gold and Galiano Gold and has over a decade of experience as a Chief Financial Officer. As an executive, he has raised over $600 million in equity and debt financing from the Canadian and US capital markets, completed over $1 billion in merger and acquisition transactions, and put three mines into production on three different continents.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study.
The Company's flagship asset is the Zeus Lithium Project, located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV (8%) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,250/tonne, the PEA indicates an After-Tax NPV (8%) of approximately US$2.67 Billion and an IRR of 52%.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Chairman
C: 778.999.2159
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion of a pre-feasibility study and ongoing development at the Zeus Lithium Project. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
*Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021)
**Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
SOURCE: Noram Lithium Corp.
Mr. Zen
1 year ago
VANCOUVER, BC / ACCESSWIRE / November 30, 2022 / Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to review the Company's activities during 2022 and to highlight upcoming catalysts at its 100%-owned high-grade Zeus Lithium Project in Clayton Valley, Nevada.
Highlights of 2022 Corporate Milestones:
COMPLETION OF STRATEGIC FINANCING:
Closing of US$14 Million strategic financing with Waratah Capital Advisors and Lithium Royalty Corp. at $0.825 with no warrant and no finder's fee or commission. Noram is now fully financed through 2023 to complete a Definitive Feasibility Study ("DFS").
ADDITIONAL MANAGEMENT APPOINTMENTS:
In March 2022, the Company appointed Bradley C. Peek, as Vice President of Exploration.
In August 2022, the Company appointed Simon D. Studer, as Vice President of Corporate Development - Europe.
In October 2022, the Company appointed Dr. Vahid Sohrabi, as Technical Advisor to the Board.
ZEUS PROJECT ADVANCEMENT:
Completed Phase VI exploration program consisting of 12 holes on time and within budget. The focus of the program was to upgrade existing inferred resources into the measured indicated categories to be utilized in the Pre-Feasibility Study.
All drill holes intersected high grade lithium over significant lengths and, upon completion in the coming weeks, the Company anticipates a robust 6th resource model that may align Noram with our peers regarding contained measured and indicated resources of lithium carbonate equivalent ("LCE").
ANALYST COVERAGE RECEIVED:
Two groups announced analyst coverage: Koby Kushner - Mining Analyst at Red Cloud Securities and Sid Rajeev - Fundamental Research Corp.
"2022 was another successful year for Noram and our shareholders. We will end the year in a very strong cash position, with a tightly controlled share structure, debt free, fully financed to reach the final feasibility stage, and with no further dilution to our shareholders until 2024," stated Mr. Sandy McDougall, CEO of Noram. "We remain confident that our pre-feasibility study will be completed in early 2023, and noting the importance of this technical report, our technical team and consultants are working through all components to deliver a quality report. I look forward to a very busy 2023 as we focus on de-risking the Zeus Lithium Project to further rerate Noram amongst its peers."
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc, CPG, Vice President Exploration for Noram, who is a Qualified Person as defined under National Instrument 43-101.
Engagement of Native Ads, Inc.
Noram has retained Native Ads, Inc. ("Native Ads"), an arms-length party, to provide investor relations services in the form of strategic digital media services, marketing and data analytics services including, but not limited to, content development, video production and editing, website development, median buying and distribution, and campaign reporting and optimization. These services are set to commence in December 2022 pursuant to a consulting agreement dated November 23, 2022, and the Company has agreed to pay Native Ads fees totaling $90,000 USD for an initial service period of 6 months.
Native Ads has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange in providing the services to the Company. Native Ads has offices in Vancouver, B.C. and New York, NY and delivers services to a diverse group of clients across North America, providing strategic digital media services, marketing and data analytic services and provides services to a diverse group of clients across North America. The appointment of Native Ads is subject to approval by the TSX Venture Exchange.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in early 2023.
The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV (8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,250/tonne, the PEA indicates an After-Tax NPV (8%) of approximately US$2.67 Billion and an IRR of 52%.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Chief Executive Officer and Director
C: 778.999.2159
For additional information please contact:
Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653
Mr. Zen
1 year ago
The price of Lithium has been increasing at "insane" levels (as Elon Musk tweeted a few weeks ago). If you plotted out a graph the line would be pointing almost straight up, so where the price per ton will be in a few years could be double/triple where it is currently. It increased by 460% last year.
Quote:
World of Statistics@stats_feed
Lithium price ($/tonne):
2022: $78,032
2021: $17,000
2020: $6,800
2019: $11,310
2018: $14,660
2017: $12,070
2016: $8,840
2015: $5,110
2014: $4,680
2013: $4,750
2012: $4,450
Mr. Zen
2 years ago
Noram Completes Major Milestone: Infill Drill Program for Pre-Feasiblity Study Completion and Commencement of Plan of Operations
Wed, May 11, 2022, 11:55 PM
In this article:
NRVTF
+3.02%
VANCOUVER, BC / ACCESSWIRE / May 12, 2022 / Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce" that the Company has successfully completed the Phase VI infill drill program on the Zeus Lithium Project in Clayton Valley, Nevada. The Zeus Project contains a current NI 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.
All 12 of the Phase VI proposed holes were completed to, or beyond, their anticipated depths for a total of 5246 ft (1599 m) of drilling. Most of the holes were drilled with HQ-size core with a diameter of 2.5 inches (63.5 mm). However, 4 of the holes were drilled with PQ-size (3.35 inches, 85 mm diameter) to be used for the ongoing metallurgical test work. The samples from the core have been hand-delivered to ALS Laboratory in Reno, Nevada for processing. QA/QC samples have been inserted into the sample stream to confirm sample results.
Noram Lithium Corp., Thursday, May 12, 2022, Press release picture
Noram Lithium Corp., Thursday, May 12, 2022, Press release picture
Figure 1 - The last batch of Phase VI drilling samples as they were delivered to ALS in Reno, Nevada.
"This is a significant milestone for Noram" stated CEO and Director, Sandy MacDougall "with the completion of this drilling, the inferred resource calculation will be confidently upgraded to the indicated category. This marks one of the final steps required to complete the Prefeasibility Study ("PFS") in the near term. While we have only received results from 2 of the 12 holes, the results supersede our expectations, and we can confidently say that a PFS superior to the PEA would not be surprising. All assays are being processed on a rush basis and we expect to receive the balance of the results shortly. Noram is on track to complete the PFS in the fall of 2022 while simultaneously working on new and innovative solutions to become a leader in the green technology space."
Noram Lithium Corp., Thursday, May 12, 2022, Press release picture
Noram Lithium Corp., Thursday, May 12, 2022, Press release picture
Figure 2 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 holes completed under the Phase VI Program. Phase VI holes are shown as purple squares.
The Company has also begun initial preparation for the completion of a Plan of Operations (PoO) with the Tonopah, Nevada field office of the Bureau of Land Management. Results from the Phase VI drilling will be needed to determine whether additional drilling, bulk sampling, etc. will be required to carry the project through the PFS and DFS stages. These elements are essential to determine what goes into the PoO. The DFS is expected to follow closely on the heels of this fall's PFS.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022. The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.299 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
CEO and Director
C: 778.999.2159
For additional information please contact:
Peter A. Ball
President and Chief Operating Officer
peter@noramlithiumcorp.com
C: 778.344.4653
Mr. Zen
2 years ago
Thu, March 31, 2022, 5:00 AM
In this article:
NRVTF
+2.30%
NRM
0.00%
VANCOUVER, BC / ACCESSWIRE / March 31, 2022 / Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to report that the Company has completed hole CVZ-70 on its Zeus lithium clay deposit in Nevada to a total depth of 463 ft (141.1m). When logging and visual inspection of the core was completed, it was noted that mineralization appeared immediately near surface and extended down to approximately 387.0 ft (138m) for a total intersection of 380ft (116m).
Figure 1 shows the Zeus project drilling to date with the various drilling phases color coded. The arrow points to the recently completed CVZ-70 hole. Other planned Phase VI holes are indicated in purple.
Figure 1 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1 currently underway. CVZ-70 and other planned Phase VI holes are indicated in purple.
"Drill hole CVZ-70 is an incredibly encouraging hole for Noram. Figure 2 below shows a cross section with CVZ-70 and two adjacent, previously drilled, holes. The blue, green, black and magenta layers in the figure indicate claystone layers that have been shown to host the higher lithium assays from past drilling. The 380-foot (116-meter) intersection in CVZ-62 was one of the thickest claystone intersections by far. CVZ-70 appears to likely rival this and prior holes from prior programs. Thicker intersections such as this one will have profound implications on future resource tonnage calculations" commented Brad Peek M.Sc. CPG., VP of Exploration and Qualified Person for this and all 5 of the previous drilling phases of Noram's Zeus lithium property.
Figure 2. Comparative stratigraphy for drill holes CVZ-70 as compared to CVZ-61 and CVZ-62, which were drilled as part of the Phase V program. CVZ-61 and CVZ-62 were two of the longest intercepts drilled on the property to date. All of the claystone units except the brown silty claystone have relatively high lithium concentrations in previous drill holes on the property. The histogram on the sides of CVZ-61 and CVZ-62 are the composited lithium grades in ppm Li.
CVZ-70 is the first of the 12-hole Phase VI drilling program which is expected to upgrade approximately 175 million tonnes of the current 827 million tonne Inferred Resource to the Indicated category. Core samples from CVZ-70 have been shipped to ALS Laboratory in Reno, Nevada for assay processing on a "rush" basis. Assay results are pending.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
Mr. Zen
2 years ago
Noram Appoints VP of Exploration, Permits Phase VI Drill Campaign At Its Zeus Lithium Project And Grants Options
Thu, March 24, 2022, 12:45 AM
In this article:
NRVTF
+1.63%
VANCOUVER, BC / ACCESSWIRE / March 24, 2022 / Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) reports the appointment of Bradley C. Peek, M.Sc., CPG as Vice President of Exploration. In addition, the Company has received final permits from Nevada's Bureau of Land Management for a 12-hole in-fill resource development program focused on upgrading a portion of an existing Inferred resource to the Indicated category at its high-grade Zeus Lithium Project. The current NI-43-101 resource contains a Measured and Indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an Inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. Noram is aggressively moving forward with completing a pre-feasibility study ("PFS") by the end of 2022 after a Preliminary Economic Assessment indicates robust economics of NPV(8) US$2.67 billion and an IRR of 52% using a lithium carbonate price of US$ 14,250/tonne.
Figure 1 - Proposed drill sites for Phase VI Drill Program - Zeus Lithium Project
Zeus Lithium Project Drill Campaign and History
The Zeus project has undergone five previous drill campaigns (2016 - 2021), building one of the most significant lithium resources in Clayton Valley, Nevada. Noram is now proceeding with a Phase VI drill campaign, which is comprised of 12 "in-fill" holes to an approximate depth of 120m (393 ft). The program is expected to upgrade approximately 175 million tonnes of the current Inferred resource to the Indicated category which will have a significant impact on the PFS. Drilling will also provide fresh material for geotechnical and ongoing metallurgical testing and is an important data gathering exercise to be incorporated into the PFS, where the primary objectives are to upgrade and convert resources to reserves in developing the PFS mine plan and to obtain material for further metallurgical testing. Additional important objectives are to obtain additional information on lithology, mineralization, and clay speciation. Noram's team has commenced preparing the drill pads and mobilizing a drill rig. Drilling will be carried out 24 hours a day with 2 teams until completion.
The Phase VI drilling program has been specifically designed to upgrade a large portion of the current Inferred resource to the Indicated category using the least number of drillholes. Noram expects this updated NI 43-101 compliant resource model to be complete by Q3, 2022.
Mr. Zen
2 years ago
Took my first of many positions with this one, from now on it is dip buying.. Put this one in the Next Generation Trust Ac count, can you say long term hold!!
There is always a good reason..
Noram Lithium Corp: Zeus PEA shows 31% After-Tax IRR
USD$1.299 Billion After-Tax NPV
Vancouver, British Columbia – December 8, 2021 – Noram Lithium Corp. (“Noram” or the “Company”)
(TSX - Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) today announced the summary results of a
National Instrument 43-101 compliant Preliminary Economic Assessment ("PEA") for the high-grade
lithium deposit at its wholly-owned Zeus Lithium Project (“Zeus” or the “Project”) located less than 1 mile
from Albermarle’s Silver Peak Mine, which is currently the only lithium production facility in the United
States. The PEA was prepared by ABH Engineering (“ABH”,) an independent engineering services firm with
extensive experience in mining and mineral processing. All dollar values are in US dollars.
PEA Highlights
• Robust Economics.
o $1.299 Billion Net Present Value (“NPV”). Base case after-tax Net Present Value ("NPV")
of $1.299 billion (8% discount rate).
o 31% Internal Rate of Return (“IRR”). Base case after-tax IRR of 31%.
o Capital Costs (“CAPEX"). Estimated initial CAPEX of $528M with after-tax payback period
of 3.23 years.
o Gross Revenue of $303.4 Million/year
o Low Operating Cost. Operating Cost (“OPEX”) of $3,355.30/tonne Lithium Carbonate
Equivalent (“LCE”) with a break-even price of $4016.6/tonne LCE LOM.
• Long Mine Life (“LOM). The mine production rate during full operation is set at 17,000 tpd.
The production schedule uses ore from the first 11 phases, which results in 40-year mine life (“LOM”).
The mine production schedule results in 245.4 million tonnes averaging 1,093 ppm Li.
• Very Low Strip Ratio. Mining strip ratios are very low, averaging 0.07:1 for LOM. Mining consists of a truck and shovel method, with blasting being unnecessary due to the ore softness.
• Low Environmental Impact. The leaching and filtration flowsheet includes dry stack tailings, thus, eliminating the environmental risk and long-term management issues associated with tailings ponds.
• LCE market Price. Base case market price of $9500/tonne LCE is well below long term forecasted rate of $14,000/tonne1.
• Price Sensitivity. As noted in the sensitivity chart below, the after-tax NPV reaches $2.665 billion at $14,250/Tonne LCE (8% discount)
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