Noram Ventures Amasses Largest Land Package In Nevada's Clayton Valley With Acquisition Of Additional Lithium Claims
Latest acquisiton increases Noram's land package to 17,738 acres
VANCOUVER, BC / ACCESSWIRE / June 29, 2016 / Noram Ventures Inc. (NRM.V) ("Noram" or the "Company") is pleased to announce it has entered into an arms-length binding agreement to acquire 150 mineral claims comprising 3,000 acres, in Nevada's Clayton Valley. This latest acquisition makes Noram the largest direct holder of lithium claims in the Clayton Valley.
The new claims are contiguous with the eastern boundary of the Zeus Group Claims that form the northern portion of Noram's South Block Extension (Figure 1). These claims, collectively, are adjacent to and in the same geological formation as Matica Enterprises' McGee property, where results were recently announced showing an average of approximately 750 ppm lithium from all samples taken over a 1,500 metre long by 700 metre wide area with lithium values as high as 1,420 ppm in the claystones.
Noram will acquire the interests in the new Zeus extension claims for the following consideration;
US$25,000 on acceptance of the Binding Acquisition Agreement;
Noram assuming all financial obligations.
Noram's Clayton Valley South Block Expansion:
The South Block property, which now consists of 700 claims in three contiguous claim groups (Zeus, Hades and Spartan) covering approximately 13,740 acres, is strategically located between and contiguous with the Silver Peak lithium mine operated by Albemarle Corp. near the northern boundary and Pure Energy Minerals Ltd.'s Clayton Valley South project 1km to the west.
Initial surface sampling on the Zeus and Sparton claims (see News Release of June 9th, 2016) returned very encouraging results with lithium values ranging from 196ppm to a high of 760 ppm and averaging 530 ppm lithium. Additional surface and sub-surface sampling on the Zeus and Sparton claim groups is in progress. Results are forthcoming and will be reported as they become available.
"We are very pleased with our land acquisition strategy that has nearly doubled our project footprint and significantly increases the potential and scope of our Clayton Valley, Nevada project," said Noram's president, Mark Ireton.
The technical information contained in this news release has been reviewed and approved by Michael Collins, P.Geo., who is a Qualified Person with respect to the South Block Claim's Group Property as defined under National Instrument 43-101.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX-V: NRM and Frankfurt: N7R) is a Canadian based junior exploration company, with a goal of becoming a force in the Green Energy Revolution through the development of lithium and graphite deposits and becoming a low-cost supplier for the burgeoning lithium battery industry. The Company's primary business focus since formation has been the exploration of mineral projects that include the lithium projects in Clayton Valley in Nevada and the Jumbo graphite property in British Columbia. Noram's long term strategy is to build a multi-national lithium-graphite dominant industrial minerals company to produce and sell lithium and graphite into the markets of Europe, North America and Asia.
Please visit our web site for further information: www.noramventures.com
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Mark R. Ireton"
President & Director
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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 Ventures Inc.
