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Noram Provides update on Nevada lithium claystone deposits
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Noram Provides update on Nevada lithium claystone deposits

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VANCOUVER, British Columbia (AP) — Noram Ventures Inc. is planning for an upcoming drilling campaign during the 2020’s third and fourth financial quarters, along with a preliminary economic assessment on its Zeus Lithium Claystone Property.

During the last three-years, there has been increasing interest in lithium claystone deposits in Clayton Valley, Nevada, near Albemarle's Silver Peak lithium brine operations which remains North America's only lithium producer at present. Along with Noram's Zeus deposit, Cypress Development has the Dean Lithium Claystone deposit adjacent and to the southwest, and American Lithium has the TLC deposit located to the north-northeast from Zeus.

Noram's Zeus lithium claystone deposit has at a base case 900 ppm lithium cut-off, 124 million tons at 1136 ppm lithium as indicated resources and 77 million tons lithium at 1045 ppm lithium as inferred resources. There are over two square kilometers of fertile ground yet to be drill-tested on the Zeus property.

Cypress Development recently completed a full Prefeasibility Study showing favorable economics for its claystone deposit next door to Zeus. Both Cypress' Dean deposit and Noram's Zeus deposit are within the same Esmeralda Formation lithium claystones that have been demonstrated to be non-refractory, meaning that lithium is liberated to solution from the clays within using a low pH solution.

Note that mineralization hosted on adjacent and/or nearby properties and operations is not necessarily indicative of mineralization hosted on the Company's property.

“Continued exploration and development of large lithium claystone deposits reveals that lithium is recoverable in low pH solutions, as shown by Cypress Development's pre-feasibility study; and by the successful pilot plant testing by Ioneer Ltd. and Lithium Americas for their respective Nevada claystone projects,” C. Tucker Barrie, president and CEO of Noram Ventures Inc., said.

The other major lithium claystone deposit in the vicinity is American Lithium's TLC deposit, also located in Esmeralda Formation or equivalent play lake sediments. The TLC deposit is at surface or under a thin veneer of alluvial sediments. American Lithium announced the maiden resource estimate of 5.37 million tons of LCE in measured and indicated resource categories, and 1.76 million tons LCE in the Inferred Resource category.

 American Lithium initiated metallurgical studies on their claystone material last May, with Zeus and Dean showing their clay minerals are non-refractory and treatable in low pH solutions. The company is currently exploring novel techniques for lithium processing and is aiming to produce an early economic study in 2020.

Note that mineralization hosted on adjacent and/or nearby properties and operations is not necessarily indicative of mineralization hosted on the Company's property.

 “The demand for lithium is growing significantly due to the rapid expansion of the electric vehicle market,” Barrie said. “Furthermore, the United States government is proactive in promoting and developing critical metals within the USA, including lithium.”

“This means that there is strong support for developing projects like Zeus which is on Bureau of Land Management ground in Nevada, one of the most favorable jurisdictions for mining globally,” Barrie added.

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